CLEARFDD

Orangetheory Fitness FDD Analysis

Risk Score: CFitness / Boutique Studio~1,500 (as of 2024) unitsFDD Year: 2024
4Red Flags Identified

Top Findings

Item 21 — Declining Unit Counts and High Closure Rate

Orangetheory saw a notable increase in franchise terminations and non-renewals post-pandemic. Item 20 data shows hundreds of transfers and closures between 2020-2023, with net unit growth stagnating. The boutique fitness space is intensely competitive. Many franchisees report difficulty hitting pre-COVID membership numbers.

Item 7 — High Initial Investment with Wide Range

Total initial investment ranges from approximately $563,000 to $1,000,000+ depending on build-out, location and market. This is a heavy capital commitment for a fitness franchise where average membership revenue is sensitive to local demographics, competition from Peloton/HIIT alternatives and member churn (typically 20-35% annually in boutique fitness).

Item 12 — Territory Protection is Limited

Orangetheory grants a protected territory, but the size (typically a 5-minute drive-time radius) is small in dense urban markets. Multiple franchisees have reported feeling encroached upon as the brand expanded aggressively. The franchisor retains broad rights to open company-owned studios and sell through alternative channels.

Fee Burden Estimate

Royalty8% of gross sales
Ad Fund2% of gross sales
Combined10% of gross
Est. Annual Fees$50,000

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