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NEWS
F45 targets military veterans as franchisees and launches $300m loan financing deal with Fortress
POSTED 19 May 2022 . BY Frances Marcellin
F45 has joined forces with investment group Fortress to provide loans to franchisees Credit: F45
F45 After programme launches: offers US military and veterans financing for F45 franchises
F45 is also collaborating with investment group Fortress to provide loans to franchisees
The initial allocation is US$150m and can increase to US$300m
Mindbody and Glofox have also joined forces with third-party financiers to support client growth
Following a history of supporting US military and service members, F45 has announced a new initiative called F45 After, which offers US military personnel exclusive financing to become franchisees. While the programme has only just launched, the company has already received 2,500 inquiries from potential candidates to open new franchises.

“F45 is proud to be the first fitness company in the world authorised by the US Department of Defense to work with active-duty service members,” said F45's Michael Nichols. “Through F45 After, we're thrilled to bring on board some of the best trained, most loyal and hardest working people – our military men and women – to become studio owners and operators.”

F45 has also announced a new collaboration with investment group Fortress to provide franchisees with loan financing in the US.

The facility will be funded with an initial tranche of US$150m but demand could push this to US$300m. The capital will support signups from eligible franchisees and grow the F45 studio network.

“Coming out of the pandemic, access to attractive growth capital has become more challenging for small- and medium-sized businesses, especially in the boutique fitness space'" said Adam Gilchrist, CEO of F45. "By establishing a financing solution tailored to the specific needs of our franchisees, we've taken measures to assist them in executing on their growth ambitions while creating greater visibility in our own business.”

Last year F45 revealed ambitions to open up 7,000 studios in the US and pitched it sights on 23,000 worldwide.

The economic resilience of F45’s franchise model during the pandemic was commended by Brian Stewart, MD at Fortress Investment Group. “F45 is a clear category leader in the fitness industry,” he said. “It has proven its resilient franchise economic model during tough economic conditions, as shown by the extremely low closure rates across the US system during the COVID-19 pandemic.”

F45 is the latest company in the fitness industry to join forces with a third-party financier. Mindbody – which provides F45 with its cloud-based software solutions – recently launched Mindbody Capital, a non-traditional loan service designed to fund the growth of their customers’ businesses.

In collaboration with fintech startup Parafin, Mindbody Capital funds clients through their software service, cutting out the need for banks and traditional loan application procedures.

Currently available in the US only, over US$2m has been borrowed by clients so far. Mindbody Capital’s financing model differs from a bank’s because it provides non-recourse financing, a secured loan that isn’t dependent on credit history and for which the borrower isn’t personally liable.

“Almost a third of Mindbody customers plan to expand their business into more locations in the next 12 months,” said Josh McCarter, CEO of Mindbody and Class Pass. “Supporting these businesses in funding their growth is just one of the many ways Mindbody Capital can help the wellness industry rebuild.”

Last year, software company Glofox struck a deal with Stripe Capital to provide health clubs, gyms and fitness studios with instant access to financing. The club management software provider aimed to help clients bounce back from the pandemic.

RELATED STORIES
  FEATURE: HCM People: Gunnar Peterson


F45’s new chief of athletics on developing exclusive new workouts for the brand
  David Beckham announced as partner in new London gym


David Beckham has opened an F45 studio in London, as part of the franchised fitness operator's plans to highlight its UK expansion push.
  F45 takes fitness to the seas with OneSpaWorld partnership


F45 Training will begin offering its functional fitness classes on board cruise ships, after securing a partnership with OneSpaWorld.
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Orangetheory and Self Esteem Brands are to merge to form a $3.5 billion business
Orangetheory and Self Esteem Brands have revealed plans to merge 'as equals' creating a new company with around US$3.5 billion a year in sales and 7,000 franchises in 50 countries.
Tennis legend Andre Agassi joins Life Time as company announces record revenues
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COMPANY PROFILES
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Founded in 1928, KLAFS is known as an award winning, world-leading trendsetter in wellness and spa. [more...]
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Agilysys is a leader in hospitality software, delivering innovative cloud-native SaaS and on-premis [more...]
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CATALOGUE GALLERY
 

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DIARY

 

02-04 Mar 2024

World Spa & Wellness Conference

Excel exhibition and conference centre , London, United Kingdom
03-05 Mar 2024

IBS New York

Javits Convention Center, New York, United States
+ More diary  
 
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©Cybertrek 2024
Uniting the world of spa & wellness
Get Spa Business and Spa Business insider digital magazines FREE
Sign up here ▸
News   Products   Magazine   Subscribe
NEWS
F45 targets military veterans as franchisees and launches $300m loan financing deal with Fortress
POSTED 19 May 2022 . BY Frances Marcellin
F45 has joined forces with investment group Fortress to provide loans to franchisees Credit: F45
F45 After programme launches: offers US military and veterans financing for F45 franchises
F45 is also collaborating with investment group Fortress to provide loans to franchisees
The initial allocation is US$150m and can increase to US$300m
Mindbody and Glofox have also joined forces with third-party financiers to support client growth
Following a history of supporting US military and service members, F45 has announced a new initiative called F45 After, which offers US military personnel exclusive financing to become franchisees. While the programme has only just launched, the company has already received 2,500 inquiries from potential candidates to open new franchises.

“F45 is proud to be the first fitness company in the world authorised by the US Department of Defense to work with active-duty service members,” said F45's Michael Nichols. “Through F45 After, we're thrilled to bring on board some of the best trained, most loyal and hardest working people – our military men and women – to become studio owners and operators.”

F45 has also announced a new collaboration with investment group Fortress to provide franchisees with loan financing in the US.

The facility will be funded with an initial tranche of US$150m but demand could push this to US$300m. The capital will support signups from eligible franchisees and grow the F45 studio network.

“Coming out of the pandemic, access to attractive growth capital has become more challenging for small- and medium-sized businesses, especially in the boutique fitness space'" said Adam Gilchrist, CEO of F45. "By establishing a financing solution tailored to the specific needs of our franchisees, we've taken measures to assist them in executing on their growth ambitions while creating greater visibility in our own business.”

Last year F45 revealed ambitions to open up 7,000 studios in the US and pitched it sights on 23,000 worldwide.

The economic resilience of F45’s franchise model during the pandemic was commended by Brian Stewart, MD at Fortress Investment Group. “F45 is a clear category leader in the fitness industry,” he said. “It has proven its resilient franchise economic model during tough economic conditions, as shown by the extremely low closure rates across the US system during the COVID-19 pandemic.”

F45 is the latest company in the fitness industry to join forces with a third-party financier. Mindbody – which provides F45 with its cloud-based software solutions – recently launched Mindbody Capital, a non-traditional loan service designed to fund the growth of their customers’ businesses.

In collaboration with fintech startup Parafin, Mindbody Capital funds clients through their software service, cutting out the need for banks and traditional loan application procedures.

Currently available in the US only, over US$2m has been borrowed by clients so far. Mindbody Capital’s financing model differs from a bank’s because it provides non-recourse financing, a secured loan that isn’t dependent on credit history and for which the borrower isn’t personally liable.

“Almost a third of Mindbody customers plan to expand their business into more locations in the next 12 months,” said Josh McCarter, CEO of Mindbody and Class Pass. “Supporting these businesses in funding their growth is just one of the many ways Mindbody Capital can help the wellness industry rebuild.”

Last year, software company Glofox struck a deal with Stripe Capital to provide health clubs, gyms and fitness studios with instant access to financing. The club management software provider aimed to help clients bounce back from the pandemic.

RELATED STORIES
FEATURE: HCM People: Gunnar Peterson


F45’s new chief of athletics on developing exclusive new workouts for the brand
David Beckham announced as partner in new London gym


David Beckham has opened an F45 studio in London, as part of the franchised fitness operator's plans to highlight its UK expansion push.
F45 takes fitness to the seas with OneSpaWorld partnership


F45 Training will begin offering its functional fitness classes on board cruise ships, after securing a partnership with OneSpaWorld.
MORE NEWS
Second edition of UK Aufguss Championships set to heat up Galgorm Resort
The ancient art of aufguss will be celebrated this April with the Second UK Aufguss Championships at destination spa and hotel Galgorm Resort in Northern Ireland.
Xponential’s first Kinrgy dance fitness studio opens in West Hollywood
The first bricks and mortar Kinrgy studio opens today (1 March) in West Hollywood. Founded by Emmy Award-winning dancer, Julianne Hough, the brand started as a dance and fitness platform.
Orangetheory and Self Esteem Brands are to merge to form a $3.5 billion business
Orangetheory and Self Esteem Brands have revealed plans to merge 'as equals' creating a new company with around US$3.5 billion a year in sales and 7,000 franchises in 50 countries.
Tennis legend Andre Agassi joins Life Time as company announces record revenues
In the same week as tennis legend, Andre Agassi, was appointed to the board of Life Time, the company has released strong year-end profits, achieving record revenues and EBITDA.
Yale study shows HIIT can reverse nerve damage caused by Parkinson’s
According to a pilot study by Yale School of Medicine, exercise can not only slow down the neurodegeneration associated with Parkinson’s Disease, there is evidence it can even reverse the damage.
Mountain wellness retreat to open among US$2.4bn Omani Mountain Destination
Oman’s Ministry of Housing and Urban Planning (MoHUP) has revealed plans for an ambitious high-altitude mixed-used development project called Omani Mountain Destination (OMD) on Jabal al Akhdar.
+ More news   
 
FEATURED SUPPLIERS

Espa unveils limited edition Alabastros Bergamot & Jasmine Candle
Encapsulating the essence of Espa in one beautiful, ornamental art piece, the new Espa Alabastros Bergamot & Jasmine Candle honours the senses with precious aromatherapy ingredients and natural materials. [more...]

Countdown begins for World Spa and Wellness 2024 London
The World Spa & Wellness London Convention is back from 3-4 March at ExCeL London and is a fantastic opportunity for spa professionals to network and learn from industry leaders, with lots of chances to develop your business and career. [more...]
+ More featured suppliers  
COMPANY PROFILES
KLAFS GmbH

Founded in 1928, KLAFS is known as an award winning, world-leading trendsetter in wellness and spa. [more...]
+ More profiles  
CATALOGUE GALLERY
+ More catalogues  

DIRECTORY
+ More directory  
DIARY

 

02-04 Mar 2024

World Spa & Wellness Conference

Excel exhibition and conference centre , London, United Kingdom
03-05 Mar 2024

IBS New York

Javits Convention Center, New York, United States
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2024

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS