BFT (Body Fit Training) Franchise
Audited FinancialsRisk Score
Pending analysis
Investment Range
$328,920 - $519,520
Franchise Fee
$30,000
Total US Locations
32
Business Summary
BFT Studios operate as fitness centers offering various specialized exercise classes using designated equipment, including strength, endurance, and high-intensity training. These studios provide live instructional group and individual classes to their members, utilizing a comprehensive system for operations and customer service.
Corporate History
BFT Franchise SPV, LLC was formed as a Delaware limited liability company on March 6, 2023. The BFT brand was initially offered for franchises in 2020 by Body Fit Training USA Inc. In October 2021, an affiliate of BFT Franchise SPV, LLC, BFT Franchise Holdings, LLC, acquired all rights to the BFT franchise system. As part of an internal reorganization effective March 15, 2023, BFT Franchise SPV, LLC acquired the trademarks and intellectual property for the BFT System and began selling franchises for BFT Studios on April 4, 2023. BFT Franchise SPV, LLC is part of the Xponential Fitness, Inc. portfolio of brands, which includes several other fitness concepts.
Financial Overview
Investment Range
$328,920 - $519,520
Franchise Fee (Low)
$30,000
Franchise Fee (High)
$60,000
Royalty %
7%
Marketing %
2%
Equipment Costs (Low)
$186,900
Equipment Costs (High)
$324,600
Working Capital
$21,000
Audited Financials
Yes
Offers Financing
No
Audit Opinion
Unqualified opinion
Financial Health Notes
BFT Franchise SPV, LLC was formed on March 6, 2023, and relies on its Member, Xponential Fitness LLC, and other affiliates for operational resources, including centralized cash management and support. For the period from March 6, 2023, to December 31, 2023, the company reported a net loss of $4,476 thousand. The auditor's report includes an 'Emphasis of Matter' note, stating that the financial statements may not fully reflect the results if the company operated without these affiliations. Additionally, there is an $11,690 thousand receivable from the Member, which is recorded as a reduction to Member's equity as there is no plan for repayment in the foreseeable future. All obligations under the Member's credit facility are secured by substantially all of the company's tangible and intangible assets.
Financing Details
BFT Franchise SPV, LLC does not offer direct financing. However, it offers indirect financing through third-party providers, Amerifund and Navitas, for the Pre-Sales and Soft Opening Retail Inventory Kit and the Fitness Equipment & Initial FF&E Package. For Amerifund, financing ranges from $204,000 to $215,500 over 2 to 5 years, with interest rates from 6.9% to 18%, and finance charges between $800 and $1,200. No prepayment penalty applies, and the loan is secured by a lien on the financed equipment. For Navitas, financing is also between $204,000 and $215,500, with terms of 1 to 5 years, an 8.9% interest rate, and a 1% origination fee plus documentation fees between $595 and $1,500. A 3% maximum prepayment penalty applies if paid after the first year, and the loan is secured by a lien on equipment and a guaranty. BFT Franchise SPV, LLC receives a $500 rebate for each deal financed by Amerifund.
Performance Metrics
Total US Locations
32
Franchised Units
32
Corporate Units
0
Avg Square Footage
2,600
Franchising Since
2020
Legal & Compliance Analysis
Recent Litigation
Yes
Bankruptcy
No
Litigation Count
4
Litigation Summary
BFT Franchise SPV, LLC's parent and affiliates are involved in four pending lawsuits. Two cases, filed in 2023, involve former AKT and Yoga Six franchisees who allege violations of pre-sale disclosure obligations, fraudulent inducement, breach of good faith, and unfair trade practices. They are seeking rescission of agreements and damages. Additionally, two securities-related lawsuits were filed in 2024 against the franchisor's publicly traded parent company, Xponential Fitness, Inc., and some officers. These lawsuits claim omissions and misstatements in public documents and, in one case, breach of fiduciary duties and mismanagement. All four cases are currently in the initial pleadings stage, and more similar securities-related lawsuits are anticipated.
Bankruptcy History
BFT Franchise SPV, LLC has no bankruptcy history to report. Item 4 of the FDD states that no bankruptcy is required to be disclosed.
Agreement Terms
Initial Term
10 years
Renewal Term
5 years
Renewal Conditions
To renew, BFT Studio franchisees must provide BFT Franchise SPV, LLC with 90 to 180 days' written notice of their desire to renew. They must be in substantial compliance with their Franchise Agreement and all other agreements with BFT Franchise SPV, LLC, and remain in compliance at the time of renewal. Franchisees are required to execute BFT Franchise SPV, LLC's then-current franchise agreement, which may have different terms and fees. They must also maintain possession of their approved location or secure an alternative site acceptable to BFT Franchise SPV, LLC, and remodel their studio to meet current System Standards. A renewal fee of $10,000 is required, and franchisees must sign a general release of claims against BFT Franchise SPV, LLC.
Training & Support Program
Franchisor Assistance
BFT Franchise SPV, LLC provides pre-opening assistance, including an initial training program (Owner/Operator and Designated Manager Modules) at its corporate headquarters or virtually, and a confidential operations manual. It offers specifications for studio layout, design, equipment, and a list of approved suppliers. BFT Franchise SPV, LLC consults on the pre-sales phase and opening support program. For site selection, it helps designate a market area, provides guidelines, and may offer contact information for local real estate brokers, with final approval on proposed sites. Ongoing support includes specifying/approving equipment and suppliers, providing continuing advisory assistance, and administering the Brand Development Fund. Franchisees may be required to attend up to five days of additional training annually without a fee. Additional training can be requested for a fee, and remedial training may be required for non-compliance. New instructors receive virtual Fundamentals Training (for a fee) and on-site Pre-Opening Instructor Training from a Head Coach.
Initial Training Hours
12
Training Location
Corporate headquarters in Irvine, CA or virtually
Ongoing Support
After opening, BFT Franchise SPV, LLC provides ongoing advisory assistance and information, and may specify or approve equipment and suppliers. It maintains and administers the Brand Development Fund. Franchisees may receive up to five days of additional training annually at a designated facility without a training fee. Franchisees can also request additional training for a fee. If non-compliance occurs, BFT Franchise SPV, LLC may require remedial training, which may incur a fee. New Authorized Instructors hired after opening must complete virtual Fundamentals Training (for a tuition fee per trainee) and on-site Pre-Opening Instructor Training with a Head Coach.
Franchise Requirements
Ideal Candidate Profile
BFT seeks franchisees who are financially capable of meeting the total estimated initial investment. They should be prepared to either personally supervise the studio as an Operating Principal or appoint an approved Designated Manager to oversee daily operations. The Operating Principal (or individual franchisee) must complete the Owner/Operator Module of BFT's initial training. Franchisees must demonstrate the ability to effectively manage staff, ensuring all personnel are qualified, competent, and properly trained, with instructors completing specific Pre-Opening Instructor Training. BFT franchisees also need to be aware of the competitive fitness market and focused on achieving minimum sales performance levels.
Industry Experience Required
No
Management Experience Required
No
Sales Experience Required
No
Technical Skills Required
No
Operational Details
Location Type
retail
Owner Participation
supervisory
Territory Type
protected
Territory Size Requirements
BFT Studio territories are typically defined by a maximum population of 50,000 people within an approximate two-mile radius around the studio's approved location. For studios in major metropolitan downtown areas or central business districts, the territory may still contain up to 50,000 people but could be limited to a geographic area ranging from a two-block to two-mile radius, at BFT Franchise SPV, LLC's discretion. The boundaries of the territory can be described using zip codes, streets, landmarks, or county lines.
Staffing Notes
BFT Studio franchisees are solely responsible for hiring, disciplining, and setting terms of employment for their employees and independent contractors, as well as complying with all applicable labor laws. Each studio must always be managed and staffed by at least one individual who has successfully completed the Owner/Operator Module training. Any instructors providing Approved Services must complete the Pre-Opening Instructor Training. Franchisees may personally supervise the studio or appoint an approved Designated Manager who must complete specific training.