F45 Training's 2026 FDD lists an Item 7 estimated initial investment of $362,300–$857,700, against $349,200–$786,100 in the 2025 filing.
| 2025 FDD | 2026 FDD | Change | |
|---|---|---|---|
| Low end of range | $349,200 | $362,300 | +$13,100 (+3.8%) |
| High end of range | $786,100 | $857,700 | +$71,600 (+9.1%) |
| Full range | $349,200–$786,100 | $362,300–$857,700 |
The 2026 filing puts the Item 7 estimated initial investment at $362,300–$857,700, against $349,200–$786,100 in the 2025 filing.
| 2025 FDD | 2026 FDD | Change | |
|---|---|---|---|
| Total outlets (Item 20) | 753 | 708 | −45 (−6.0%) |
| Franchised outlets | 751 | 707 | −44 (−5.9%) |
| Company-owned outlets | 2 | 2 | unchanged |
| Openings during the year | 34 | 26 | −8 |
| Closures during the year | 56 | 56 | unchanged |
F45 Training reports 708 outlets in the 2026 FDD, against 753 in the 2025 filing — a change of −45 (−6.0%).
Outlet counts as each filing states them — 2025: As of December 31, 2024; 2026: As of December 31, 2025. Systemwide outlet counts and changes are reported for fiscal years 2023–2025. Table 3 shows, for 2025 franchised outlets, terminations (54), non-renewals (13), and ceased operations for other reasons (2); reacquired by franchisor is reported as 0.
F45 Training included an Item 19 financial performance representation in both the 2025 and 2026 filings. The 2026 filing discloses financial performance, broken out across 4 outlet segments for March 1, 2025 through February 28, 2026 (most recent full 12-month period; studios open at least 12 months as of Feb 28, 2026).
| 2025 FDD | 2026 FDD | Change | |
|---|---|---|---|
| Standard royalty rate | 7% | 7% | unchanged |
The standard royalty rate holds at 7% of Gross Sales across both filings.
2026 filing: Royalty is the greater of 7% of Gross Sales or $2,500 per month; $2,500 is due on the Opening Date and then in advance on the first day of each month; any additional royalty is due on the 15th day of the following month based on prior-month Gross Sales.
Year-over-Year comparison is included with the $19 Workspace when available.