Stride Franchise Cost, Revenue & Review 2026
- Investment
- $380K – $555K
- Disclosed sales
- partial, no system average
- SBA charge-off
- Limited · 12 loans
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Stride is a boutique fitness franchise offering coach-led group classes combining treadmill cardio, strength training, and recovery. Franchisees run the studios, managing coaches, class scheduling, and memberships.
FranchiseVerdict summary · 2026
A Stride franchise requires a total initial investment of $380K – $555K, including a $60K franchise fee and an ongoing 7.0% royalty[2]. The 2023 FDD on file does not yield a unit-revenue figure we can publish. FranchiseVerdict grade: B (Above average), an editorial assessment, not investment advice. Run a live ROI scan →
Sources, dates and evidence
FDD issued: · Data extracted: · Last cited check: · Staleness risk: high - issued more than two years ago
Evidence: strong✓ Investment (Item 7)✓ Item 19 status✓ Units and owners (Item 20)✓ SBA loan coverage✓ Litigation (Item 3)✓ Financial statements (Item 21)✓ Franchisor identityhow this is scored5 of 5 headline figures on this page cite a page of the filing.
Overview
- Investment
- $380K – $555K
- 70th pct Health & Fitn…
- Avg gross sales
- N/A
- Outlet subsetPartial period
- Royalty
- 7.0%
- 37th pct Health & Fitn…
- Units
- 18
- 50th pct Health & Fitn…
- SBA charge-off
- N/A
Quick verdict · Health & Fitness · color = vs category peers
Green = favorable by >10% vs Health & Fitness median · No shading = within ±10% · Red = unfavorable by >10% · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
Bottom line
- COSTTotal investment $380K – $555K including a $60K franchise fee, 7.0% ongoing royalty.
- RETURNSItem 19 discloses average monthly Gross Revenue per Studio (not per-job/per-customer metric); Gross Revenue defined differently than "Gross Sales" under the Franchise Agreement (royalty base).
- RISKVerdict B (Above average), verdict score 61/100 (higher is better).
- GROWTHPositive: net +7 franchised outlets in the latest year (8 opened, 1 closed); 9 signed but not yet open (Item 20).
- DATAItem 19 reports historical average rather than annual gross sales, so unit revenue is not directly comparable. Ask franchisees directly for full unit-level revenue.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Stride Franchise SPV, LLC
- Parent company
- XPOF Assetco, LLC
- FDD Item 1, page 8 of the 2023 FDD
- Ultimate parent
- Xponential Fitness, Inc. (NYSE: XPOF)
- FDD Item 1, page 8 of the 2023 FDD
- Predecessor
- Stride Franchise, LLC
- Prior franchisor entity
- CEO title
- Brand President
- Jeffrey Stokes
- Incorporated in
- Delaware
- HQ
- 17877 Von Karman Ave., Suite 100, Irvine, CA 92614
- Auditor
- Deloitte & Touche LLP
- Audited financials
- Franchisor revenue
- $4.1M
- Most recent fiscal year
Same owner · FDD Item 1, page 8
9 other brands on this site name Xponential Fitness, Inc. (NYSE: XPOF) as parent or ultimate parent in their own FDD.
Portfolio: Xponential Fitness
Grouped by the owner's name as each filing prints it (this page: the 2023 FDD). Spelling variants of the same group may be listed apart; a brand is never grouped with an owner its filing does not name.
Overview
About
- CEO
- Jeffrey Stokes
- Headquarters
- CA
- FDD year
- 2023
- States available
- 9
Can you afford it, and what does the money buy?
Entry cost runs 19% above the typical health & fitness franchise.
Source: FDD 2023 · Items 5–7
FDD Item 7 · 2023 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $60K | $60K |
| Working capital (3–6 mo) | $10K | $40K |
| Equipment, build-out, other | $310K | $455K |
| Total initial investment | $380K | $555K |
Source: Stride 2023 FDD, Items 5 and 7[2]. “Equipment, build-out, other” is computed as total minus disclosed line items above.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $380K – $555K
- Bottom third — review vs category
- Liquid capital req'd
- $10K – $40K
- Top 40% of category vs category
- Franchise fee
- $60K – $60K
- Bottom third — review vs category
- Royalty
- 7.0%
- typical 6–8%
- Ad fund
- 2.0%
- typical 3–5%
- Total fee load
- 9.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 7.0% of gross sales |
| Marketing / ad fund | 2.0% of gross sales |
| Technology fee | $299 |
| Transfer fee | $10K |
| Renewal fee | $10K |
| Inventory (initial) | $12K – $12K |
| Total fee load | 9.0% of rev |
What do units actually make?
Source: FDD 2023 · Item 19
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
No Item 19 revenue figure for Stride is on file. The return models need a revenue figure to start from, and the operating costs that turn gross sales into a profit are in no FDD. Enter your own and the calculator runs on your assumptions — nothing here is modelled until you do.
Returns model · single-unit ROIC
What would one Stride unit return on the cash you put in?
Illustrative category typicals — not sourced to any filing, survey or sample. Replace them with figures from franchisee validation calls before you rely on the output.
Unlevered ROIC · per unit
Your modelled return on total invested capital, before any debt financing.
—
An FDD discloses gross sales, not profit. We hold no sourced figure for annual revenue, COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
These models are for research and scenario planning only. Not investment advice. Actual results depend on your specific location, management, and market conditions. Consult a franchise attorney and accountant before signing any franchise agreement.
Item 19 · Source: 2023 FDD
Financial Performance
Item 19 discloses average monthly Gross Revenue per Studio (not per-job/per-customer metric); Gross Revenue defined differently than "Gross Sales" under the Franchise Agreement (royalty base).
Reported for a subset of outlets rather than the whole system
Covers a partial period, not a full year
- Item 19 type
- partial-period revenue
- Sample size
- 11
- vs category median 11
- Reporting year
- 2023
- Fiscal year the figures cover
- Source filing
- FDD 2023
- The FDD edition these figures were read from
- Transparency
- 4 / 10
- vs category median 4 / 10 · typical
Compared against 173 Health & Fitness brands
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Fee burden
Total ongoing fee load of 9.0% (near the Health & Fitness median).
Disclosure
Item 19 reports historical average rather than annual gross sales, so unit revenue is not directly comparable.
Operator retention
System expanding at 466.7% CAGR over 3 years across 18 units — operators are staying and new ones are joining.
Multi-unit rate
Only 5% of franchisees own multiple units. Could indicate challenging economics or a young system where operators haven't had time to expand.
Source: FDD Item 19 financial performance representations and publicly filed FDD data. Past performance is not indicative of future results. Verify all figures with the franchisor and current franchisees before making any investment decision.
vs Health & Fitness medians
How Stride Compares
Category median of published Health & Fitness brands that report the figure; the middle half spans the 25th to 75th percentile and n counts the brands behind it. Medians are used because a few very large systems pull an average far from the typical brand. Revenue is disclosed gross sales, not profit.
Is the system healthy?
Source: FDD 2023 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 18
- Opened
- 8
- Last reporting year
- Closed
- 1
- Terminated
- 0
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- 5.6%
- Company-owned
- 1
- Corporate units in the system
- % franchised
- 94%
- vs corporate-owned
- Multi-unit owners
- 5.0%
- Net growth (3-yr)
- Outlier (see FDD)
- Likely small-sample artifact
- 3-yr CAGR
- Outlier (see FDD)
- Likely small-sample artifact
Last fiscal year · Item 20 exits and transfers
- Terminated
- 0
- Not renewed
- 0
- Transferred
- 2
- Reacquired
- 1
- Franchisor bought back
- Signed, not yet open
- 9
- 0.50 per open outlet · Item 20 Table 5
- Projected new
- 7
- Franchisor's next-year forecast
- Transfer rate
- 11.1%
- Owners selling to other franchisees
- Ceased ops
- 5.6%
- Units that stopped operating
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 10 states with active franchisees
The Territory Map
Derived from franchisee contact records. Shows states with at least one current operator. Not where the franchisor is registered to sell new units (that data is re-extracting in a future refresh).
States derived from franchisee contact records (FDD Item 20). Shows states with at least one current operator on file. Full state registration data (Item 12) will appear on a future FDD refresh.
Where the owners are · Item 20 owner list
18 current owners across 10 states.
- CA 5
- TX 4
- IL 2
- AZ 1
- FL 1
- IN 1
- MA 1
- NV 1
- OH 1
- PA 1
Counts only, from the list the franchisor prints in Item 20. Names and phone numbers are for your own due diligence and are not shown here.
Fast growth in a small system. Newer franchisors expanding quickly may not yet have the support infrastructure of larger systems.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
- Total loans
- 12
- Loan volume
- $5.4M
- Median loan
- $460K
- 50th percentile
- Charge-off rate
- Limited · 12 loans
- Limited SBA coverage: 12 loans, rate hidden until 10 have resolved and loans reach 2% of franchised units
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- Limited · 12 loans
- 5-yr charge-off
- Limited · 12 loans
- Loans approved 2021+
- Active lenders
- 9
- Defaults
- 1
- Typical loan rate
- 6.0%
- avg rate to borrowers
- Franchised industry avg
- 15.8%
- n=7,965 loans
- Jobs supported
- 149
- 4.3 per loan
- Lender concentration
- 22%
- top lender's share
Borrower mix: 100% went to startups / new businesses, 0% to established operators
Franchise vs independent — in fitness and recreational sports centers, franchised businesses charge off at 15.8% vs 18.2% for independents — franchising is associated with 13% lower SBA default risk in this category.
Top lenders financing Stride franchisees
Showing 3 of 9 lenders. The full breakdown — every lender, state distribution, interest rates & risk ratings — is in the SBA Lending Report below.
Explore lender portfolios on Bank Reports or regional data on State Reports.
Lender network · 7(a) + 504
SBA Lending Report
Full lending analysis for Stride from SBA 7(a) FOIA data.
- Principal loss rate
- 3.0%
- Avg SBA guarantee
- 79%
- Avg interest rate
- 6.03%
- Avg chargeoff amount
- $106K
- Lender concentration
- 22.2%
- Job velocity
- 4.3 per $100K
- NAICS benchmark
- 12.5%
- NAICS 713940
- Jobs supported
- 149
Top SBA lendersTop lender holds 22% of loans
| # | Lender | Loans | Volume | Default % |
|---|---|---|---|---|
| 1 | Cadence Bank | 2 | $810K | 0.0% |
| 2 | The Huntington National Bank | 2 | $535K | N/A |
| 3 | Brookline Bank, a Division of Beacon Bank and Trust | 1 | $641K | N/A |
| 4 | SouthWest Bank | 1 | $540K | 0.0% |
| 5 | CDC Small Business Finance Corp. | 1 | $120K | 100.0% |
| 6 | United Community Bank | 1 | $460K | N/A |
| 7 | Stearns Bank National Association | 1 | $382K | 0.0% |
Geographic failure vector
| State | Loans | Defaults | Rate |
|---|---|---|---|
| TXTexas | 5 | 0 | 0.0% |
| CACalifornia | 1 | 1 | 100.0% |
| FLFlorida | 1 | 0 | 0.0% |
| INIndiana | 1 | 0 | 0.0% |
| NVNevada | 1 | 0 | -- |
SBA 7(a) lending trend
Borrower profile
Source: SBA 7(a) + 504 FOIA loan-level data, matched by FranchiseVerdict
What could kill this investment?
Source: SBA 7(a) FOIA · FDD Items 3, 21
Risk analysis
FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21
Risk & Legal
Stride is a micro-system with undisclosed profitability, potential franchisor financial distress, and insufficient unit density to validate the business model.
Litigation (Item 3)
Subject: officers or affiliates. The franchisor is not a named party in these cases.
No litigation disclosed.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Deloitte & Touche LLP
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- Kickbacks from required suppliers: Yes
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: Yes
Score breakdown · what drove the 61 / 100 verdict
- 01MEDNo Item 19 (Average Net Income) disclosed — impossible to assess true profitability against $379k-$554k investment
- 02MINOROnly 18 units system-wide with 70% YoY growth appears inflated from very small base (likely 10-11 units prior year)
- 03MINORHigh royalty rate (7%) on modest average revenue ($309k) creates thin margin risk
- 04MINORFranchise fee ($60k) represents 15.8-18% of total investment — typical is 10-12%
- 05MINORAverage revenue of $309k with unknown profitability makes ROI calculation impossible
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 9.0% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2023 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 10 years |
|---|---|
| Renewal term | 5 years |
| Allowed renewalsℹ | 2 |
| Territory type | Protected territory |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Territory radius | 2 mi |
| Territory population | 50,000 |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 10 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Termination groundsℹ | 20 |
| Curable defaultsℹ | 11 |
| Mandatory arbitration | Yes |
| Arbitration location | Irvine, California (franchisor's then-current principal place of business) |
| Jury trial waiver | Yes |
| Governing law | California |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation disclosed.
Items 10, 11
Training & Operations
- Classroom training
- 22 hrs
- On-the-job training
- 1 hrs
- Training location
- Franchisor's corporate headquarters, Irvine, CA
- Ongoing training
- Required
- Time to open
- 6 mo
- From signing to launch
- Site selection
- franchisee proposes, franchisor approves
- Franchisor financing
- Not offered
- Item 10
- POS system
- Club Ready
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Club Ready
Item 20 · call current owners
Franchisee Contacts
18 owners to call
Name · phone · city · state. Extracted from FDD Item 20
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Stride franchise?
The total investment to open a Stride franchise ranges from $380K – $555K, with an initial franchise fee of $60K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Stride franchise owners earn?
Item 19 of the Stride FDD discloses figures for part of the system but no single average across all outlets. These are gross sales figures, not profit; the Revenue section shows what the filing reports and on what basis. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Who owns Stride?
Stride is franchised by Stride Franchise SPV, LLC. Its parent company is XPOF Assetco, LLC. The ultimate parent named in the FDD is Xponential Fitness, Inc. (NYSE: XPOF). Source: FDD Item 1, 2023 filing.
What is Item 19 in the Stride FDD?
The FDD section where a franchisor may disclose financial performance of its outlets. Disclosure is optional and formats vary; figures are typically gross sales, which is revenue before expenses, not profit. FranchiseVerdict extracts these figures directly from the Stride FDD and qualifies whose outlets they describe.
What is Stride's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Stride (fewer than 10 loans on file). Charge-off rates are one way to gauge franchise risk, but not all franchise loans go through the SBA program. We recommend reviewing turnover and closure data in the FDD and speaking with current franchisees.
How many Stride franchise locations are there?
As of their most recent FDD filing, Stride has 18 total units in the United States, including 17 franchised units and 1 company-owned units. 8 new units were opened in the latest reporting year.
Is Stride a good franchise to buy?
FranchiseVerdict rates Stride as a B-grade franchise with a verdict score of 61 out of 100 (higher is better). The grade is a deterministic score built from six weighted dimensions — financial health, unit economics, unit growth, scale, legal, and transparency — then calibrated against SBA loan charge-off rates and FDD age. Transparency is one of the six, so a filing that discloses less scores lower on that dimension than one that discloses more. Our rating is based solely on publicly available FDD and government data; we recommend speaking with current franchisees before making any investment decision. This is not investment advice.
Data sourced from public FDD filings and SBA 7(a) FOIA records. Not financial advice.
For franchisors
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Data extracted from public FDD filings and SBA 7(a) loan disclosures (FOIA). This information is provided for research purposes only and does not constitute financial, legal, or investment advice. Verify all figures with the franchisor's current Franchise Disclosure Document before making any investment decision.