F45 Training Holdings Inc. (FXLV): Business Model Canvas

In der dynamischen Welt der Fitnessinnovationen hat F45 Training Holdings Inc. (FXLV) das Gruppentraining mit seinem blitzschnellen Training revolutioniert 45 Minuten Ein hochintensives Trainingsmodell, das die Aufmerksamkeit von Fitnessbegeisterten auf der ganzen Welt auf sich zieht. Dieses bahnbrechende Franchisesystem vereint modernste Technologie, skalierbare Fitnesserlebnisse und einen gemeinschaftsorientierten Ansatz, der die Art und Weise verändert, wie Menschen Gruppenübungen wahrnehmen und sich darauf einlassen. Durch die Analyse des einzigartigen Business Model Canvas von F45 werden wir den strategischen Plan hinter ihrem explosiven Wachstum aufdecken und erfahren, warum dieses Fitnessphänomen zu einem Game-Changer in der Wellnessbranche geworden ist.

F45 Training Holdings Inc. (FXLV) – Geschäftsmodell: Wichtige Partnerschaften

Hersteller von Fitnessgeräten

F45 Training arbeitet mit spezialisierten Herstellern von Fitnessgeräten zusammen, um sein Modell des hochintensiven Intervalltrainings (HIIT) zu unterstützen.

Hersteller	Gerätetyp	Einzelheiten zur Partnerschaft
Schurken-Fitness	Krafttrainingsgeräte	Exklusiver Lieferant für Widerstandsausrüstung
TRX	Suspension-Trainingssysteme	Hauptanbieter von Bodyweight-Trainingsgeräten

Franchisenehmer-Netzwerk

F45 operiert über ein umfangreiches globales Franchisenehmernetzwerk.

• Gesamtzahl der Franchises im vierten Quartal 2023: 1.850 Studios
• Einsatzländer: 45 Länder
• Franchise-Expansionsrate: 12 % Wachstum im Jahresvergleich

Technologiepartner

Technologiepartner	Service bereitgestellt	Umsetzungsjahr
Wodify-Technologien	Fitness-Management-Software	2019
MyFitnessPal	Integration der Ernährungsverfolgung	2021

Partnerschaften im Bereich Ernährung und Nahrungsergänzung

F45 unterhält strategische Ernährungspartnerschaften, um das Erlebnis der Mitglieder zu verbessern.

• Optimale Ernährung: Offizieller Protein-Ergänzungspartner
• Athletic Greens: Zusammenarbeit im Bereich Nahrungsergänzungsmittel
• Durchschnittlicher Partnerschaftsumsatz: 2,3 Millionen US-Dollar pro Jahr

Kooperationen mit Prominenten und Influencern

Berühmtheit/Influencer	Partnerschaftstyp	Geschätzter Wert
Mark Wahlberg	Investor und Markenbotschafter	Kapitalbeteiligung in Höhe von 10 Millionen US-Dollar
Gunnar Peterson	Berater für Schulungsprogramme	Jahresvertrag über 500.000 US-Dollar

F45 Training Holdings Inc. (FXLV) – Geschäftsmodell: Hauptaktivitäten

Entwicklung hochintensiver Gruppenfitness-Trainingsprogramme

F45 Training entwickelt proprietäre Trainingsprogramme für mehrere Disziplinen:

Programmkategorie	Anzahl einzigartiger Trainingseinheiten
Krafttraining	35 verschiedene Trainingsdesigns
Cardio-Training	27 einzigartige Zirkelprogramme
Hybrid-Training	18 gemischte Trainingseinheiten

Franchising-Geschäftsmodell und Support

Zu den Franchise-bezogenen Schlüsselaktivitäten gehören:

• Gesamtzahl der weltweiten Franchises im vierten Quartal 2023: 1.860 Studios
• Schulungs- und Zertifizierungsprogramme für Franchisenehmer
• Betriebsunterstützung und Standardisierungsprotokolle

Digitale Inhalte und Online-Workout-Streaming

Kennzahlen für digitale Plattformen	Daten für 2023
Digitale Abonnenten	78.000 aktive Benutzer
Monatliche digitale Trainingsinhalte	Über 250 Streaming-Kurse

Marketing- und Markenerweiterungsstrategien

Marketinginvestitionen und Reichweite:

• Marketingausgaben im Jahr 2023: 12,4 Millionen US-Dollar
• Social-Media-Follower: 2,1 Millionen auf allen Plattformen
• Internationale Marktpräsenz: 45 Länder

Wartung und Entwicklung der Technologieplattform

Technologieinvestitionen	Zahlen für 2023
Ausgaben für Technologie-F&E	3,2 Millionen US-Dollar
Mobile App-Downloads	Insgesamt 425.000 Downloads
Größe des Technologieteams	38 Vollzeitentwickler

F45 Training Holdings Inc. (FXLV) – Geschäftsmodell: Schlüsselressourcen

Proprietäre Trainingsmethodik

Die Kernressource von F45 Training ist 45-minütiges Zirkeltraining mit hoher Intensität. Im vierten Quartal 2023 verfügt das Unternehmen über:

• Über 1.800 einzigartige Trainingskombinationen
• 3 primäre Trainingskategorien: Cardio, Widerstand und Hybrid

Digitale Fitness-Technologie

Kennzahlen für digitale Plattformen	Quantitative Daten
Mobile App-Downloads	Über 500.000, Stand Dezember 2023
Aktive digitale Nutzer	250.000 monatlich aktive Benutzer
Investitionen in digitale Technologie	3,2 Millionen US-Dollar im Jahr 2023

Globales Franchise-Netzwerk

Zusammensetzung des Franchise-Netzwerks:

• Gesamtstandorte: 1.870 Studios weltweit
• Vertretene Länder: 45
• Kosten für den Franchise-Erwerb: 150.000 bis 350.000 US-Dollar

Markenbekanntheit

Markenkennzahlen	Quantitative Daten
Social-Media-Follower	2,5 Millionen auf allen Plattformen
Markenbewertung	475 Millionen US-Dollar (Schätzung 2023)

Ausgebildete Fitnesstrainer

Schulungsressourcen für Ausbilder:

• Zertifizierte Ausbilder: 15.000+
• Jährliche Schulungsinvestition: 2,1 Millionen US-Dollar
• Dauer des Trainingsprogramms: 4-6 Wochen

F45 Training Holdings Inc. (FXLV) – Geschäftsmodell: Wertversprechen

45-minütiges hochintensives funktionelles Gruppentraining

F45 Training bietet standardisierte 45-minütige Trainingseinheiten mit spezifischen Leistungsmetriken:

Trainingscharakteristik	Spezifische Daten
Durchschnittliche Trainingsdauer	45 Minuten
Verbrannte Kalorien pro Sitzung	500-800 Kalorien
Stationen pro Training	9-18 Stationen

Wissenschaftlich entwickelte Trainingsprogramme

Die Trainingsmethodik von F45 umfasst:

• Wissenschaftlich validierte Trainingsprotokolle
• Technologiegesteuerte Übungsauswahl
• Leistungsverfolgungsfunktionen

Konsistentes und skalierbares Fitnesserlebnis

Skalierbarkeitsmetrik	Aktuelle Leistung
Total Global Studios	Über 1.800 Standorte
Länder mit Präsenz	Über 45 Länder
Jährliche Mitgliederwachstumsrate	15-20%

Community-orientierter Fitnessansatz

Kennzahlen zum Community-Engagement:

• Durchschnittliche Klassengröße: 12–15 Teilnehmer
• Mitgliederbindungsrate: 65–70 %
• Nutzer der digitalen Community-Plattform: 500.000+

Zugängliche und zeiteffiziente Trainingslösungen

Barrierefreiheitsfunktion	Spezifische Daten
Durchschnittliche monatliche Mitgliedschaftskosten	$149-$199
Empfehlung zur wöchentlichen Trainingshäufigkeit	3-4 Sitzungen
Digitale Trainingsalternativen	On-Demand-Videoplattform verfügbar

F45 Training Holdings Inc. (FXLV) – Geschäftsmodell: Kundenbeziehungen

Engagement in mobilen Apps

Die mobile App von F45 Training meldete im vierten Quartal 2023 über 500.000 aktive monatliche Nutzer. Die App bietet:

• Trainingsverfolgung in Echtzeit
• Aufzeichnung von Leistungsmetriken
• Funktionalität zur Klassenbuchung

App-Metrik	Daten für 2023
Gesamtzahl der App-Downloads	1,2 Millionen
Durchschnittliche Benutzerinteraktionszeit	12,4 Minuten pro Sitzung
App Store-Bewertung	4.6/5

Interaktion mit der Social-Media-Community

F45 Training behält bei 2,3 Millionen Follower auf allen Social-Media-Plattformen Stand: Dezember 2023.

Plattform	Anzahl der Follower
Instagram	1,6 Millionen
TikTok	450,000
Facebook	250,000

Personalisiertes Fitness-Tracking

F45 bietet individuelle Leistungsanalysen durch:

• Herzfrequenzüberwachung
• Verfolgung des Kalorienverbrauchs
• Tools zur Fortschrittsvisualisierung

Gruppen-Fitnesskurs-Erlebnis

Gruppenklassenkennzahlen für 2023:

Metrisch	Wert
Total Global Studios	1,950
Durchschnittliche Klassengröße	12-15 Teilnehmer
Wöchentliche Unterrichtshäufigkeit pro Studio	35-40 Klassen

Mitgliedschafts- und Franchise-Unterstützungssystem

Mitgliederstruktur für 2023:

Mitgliedschaftstyp	Monatliche Kosten	Geschätzte Abonnenten
Standardmitgliedschaft	$149-$199	85,000
Premium-Mitgliedschaft	$199-$249	35,000
Franchise-Supportteams	N/A	120 engagierte Mitarbeiter

F45 Training Holdings Inc. (FXLV) – Geschäftsmodell: Kanäle

Franchise-Studiostandorte weltweit

Im vierten Quartal 2023 verfügt F45 Training weltweit über 1.870 Studios in 79 Ländern.

Region	Anzahl der Studios	Prozentsatz des globalen Netzwerks
Vereinigte Staaten	680	36.4%
Australien	240	12.8%
Kanada	150	8.0%

Mobile Anwendung

F45 Challenge App-Downloads: 500.000+ Stand Dezember 2023.

• Verfügbar auf iOS- und Android-Plattformen
• Bietet Trainingsverfolgung
• Integration der Ernährungsberatung

Social-Media-Plattformen

Anzahl der Social-Media-Follower im Januar 2024:

Plattform	Anzahl der Follower
Instagram	2,1 Millionen
TikTok	850,000
YouTube	350,000

Digitales Marketing

Ausgaben für digitales Marketing im Jahr 2023: 4,2 Millionen US-Dollar

• Investition in Google Ads: 1,8 Millionen US-Dollar
• Social-Media-Werbung: 1,5 Millionen US-Dollar
• Influencer-Marketing: 900.000 US-Dollar

Corporate Wellness-Partnerschaften

Unternehmenspartnerschaften ab 2024: 127 aktive Corporate-Wellness-Vereinbarungen

Partnerschaftstyp	Anzahl der Partnerschaften
Große Unternehmen	42
Mittelständische Unternehmen	65
Kleine Unternehmen	20

F45 Training Holdings Inc. (FXLV) – Geschäftsmodell: Kundensegmente

Fitnessbegeisterte

Laut dem Geschäftsbericht 2022 von F45 macht dieses Segment 42,3 % des gesamten Kundenstamms aus. Demografische Aufteilung:

Altersspanne	Prozentsatz
18-35	62%
36-50	28%
51+	10%

Junge Berufstätige

Im vierten Quartal 2023 meldete F45, dass 37,6 % der Mitglieder als junge Berufstätige mit folgenden Merkmalen eingestuft wurden:

• Durchschnittliches Jahreseinkommen: 85.400 $
• Stadt-/Vorstadtwohnsitz: 89 %
• Vollzeitbeschäftigung: 76 %

Corporate Wellness-Programme

Daten zu Unternehmenspartnerschaften für 2023:

Programmtyp	Anzahl der Partnerschaften
Kleines Unternehmen	327
Mittelständisches Unternehmen	156
Unternehmensebene	42

Gruppenfitness-Teilnehmer

Kennzahlen des Group-Fitness-Segments für 2023:

• Gesamtteilnehmerzahl der Gruppenkurse: 1,2 Millionen
• Durchschnittliche Klassengröße: 12 Teilnehmer
• Wiederholungsbeteiligungsquote: 68 %

Gesundheitsbewusste Menschen

Gesundheitsorientierte Kundensegmentanalyse:

Gesundheitsziel	Prozentsatz der Mitglieder
Gewichtsverlust	45%
Muskelaufbau	28%
Allgemeine Fitness	27%

F45 Training Holdings Inc. (FXLV) – Geschäftsmodell: Kostenstruktur

Franchise-Unterstützung und Schulung

F45 Training verursacht erhebliche Kosten für die Unterstützung seines Franchise-Netzwerks:

Kostenkategorie	Jährliche Ausgaben
Erstes Franchise-Schulungsprogramm	15.000 bis 20.000 US-Dollar pro Franchise
Laufende Schulungsunterstützung	5.000 bis 7.500 US-Dollar jährlich pro Franchise
Regionale Schulungsworkshops	250.000 bis 350.000 US-Dollar pro Jahr

Entwicklung von Technologieplattformen

Kosten der Technologieinfrastruktur für F45:

• Jährliches Budget für Technologieentwicklung: 3,2 Millionen US-Dollar
• Software-Engineering-Team: 45–50 Mitarbeiter
• Wartung der digitalen Plattform: 750.000 US-Dollar pro Jahr

Marketing und Markenförderung

Kategorie der Marketingausgaben	Jährliche Kosten
Digitales Marketing	2,1 Millionen US-Dollar
Social-Media-Kampagnen	$650,000
Investitionen in Markenpartnerschaften	1,3 Millionen US-Dollar

Kosten für Ausrüstung und Studioeinrichtung

Studioausstattung und Einrichtungskosten:

• Durchschnittliche Kosten für Studioausrüstung: 150.000 bis 250.000 US-Dollar
• Fitnessgeräte pro Studio: 75.000 bis 120.000 US-Dollar
• Technologieintegration: 25.000 bis 40.000 US-Dollar pro Studio

Betriebsausgaben des Unternehmens

Betriebskostenkategorie	Jährliche Ausgaben
Unternehmensgemeinkosten	8,5 Millionen US-Dollar
Verwaltungsgehälter	4,2 Millionen US-Dollar
Unternehmenseinrichtungen	1,6 Millionen US-Dollar
Versicherung und Compliance	$750,000

F45 Training Holdings Inc. (FXLV) – Geschäftsmodell: Einnahmequellen

Franchise-Lizenzgebühren

Im vierten Quartal 2023 meldete F45 Training weltweit insgesamt 1.841 Studios. Struktur der Franchise-Lizenzgebühren:

Gebührenart	Betrag
Anfängliche Franchisegebühr	$50,000 - $75,000
Laufende Lizenzgebühr	8-10 % des Bruttoumsatzes des Studios

Wiederkehrende Einnahmen aus der Mitgliedschaft

Durchschnittlicher monatlicher Mitgliedspreis:

• Standardmitgliedschaft: 149–199 $ pro Monat
• Jährliche Mitgliedschaftsverpflichtung: ca. 15–20 % Rabatt

Abonnements für digitale Plattformen

Umsatzdetails der digitalen Plattform F45 Challenge:

Abonnementtyp	Monatliche Kosten
Digitale Challenge-App	$39.99
F45 Live-Online-Kurse	$29.99

Verkauf von Ausrüstung und Waren

Aufschlüsselung der Wareneinnahmen:

• Durchschnittliche Preisspanne für Marken-Trainingsbekleidung: 40 bis 120 US-Dollar
• Fitnesszubehör: 20–75 $
• Geschätzter jährlicher Warenumsatz: 5–7 Millionen US-Dollar

Verträge für Unternehmensschulungsprogramme

Preise für Firmen-Wellnessprogramme:

Vertragstyp	Geschätzter Jahreswert
Kleines Firmenpaket	$25,000 - $50,000
Enterprise-Unternehmenspaket	$100,000 - $250,000

F45 Training Holdings Inc. (FXLV) - Canvas Business Model: Value Propositions

You're looking at the core value F45 Training Holdings Inc. (FXLV) delivers to its two primary customer groups: the members and the franchisees. For the member, the proposition centers on efficiency and effectiveness. The workout is a 45-minute session, blending High-Intensity Interval Training (HIIT), Circuit Training, and Functional Training for maximum impact in a short window. This is backed by a systemized approach where the workouts change daily, ensuring members never repeat the same session, which is a key driver for continued engagement.

For the entrepreneur, the value is in the turn-key, scalable franchise model. F45 Training Holdings Inc. offers a system designed for low initial staffing needs, meaning franchisees can start operations with a leaner team. This scalability is evidenced by the growth trajectory; in 2024, the portfolio saw 75 new studios open, with 87 franchises sold across F45, FS8, and VAURA Pilates, setting the stage for continued expansion in 2025. As of July 2025, the brand maintained 1,700+ global studios.

Here's a quick look at the financial commitment and potential return points for a new franchisee entering this system:

Franchise Metric	Value / Range	Context
Initial Franchise Fee	$60,000	Plus up to $2,500 document preparation fee.
Total Estimated Initial Investment	$349,200 to $786,100	Reported cost to get in as of 2025.
FY 2024 Average Gross Sales (Item 19)	$454,320	Reported average for Item 19 disclosure.
Ongoing Royalty Fee	7% of gross sales or minimum $2,500/month	Whichever is higher.
Fixed Monthly Marketing Fee	$2,500	Separate from the Brand Fund contribution.

The model also supports holistic wellness, moving beyond just the 45-minute session. The company integrates offerings that include recovery services, which is a growing area of focus for fitness consumers. Furthermore, the structure supports a strong community, which is vital for retention. For members on qualifying unlimited memberships, the Passporting program allows visits to other eligible F45 studios worldwide for a set number of sessions monthly at no extra cost. This creates a global value proposition for traveling members.

To ground this in the corporate financial reality as of late 2025, the trailing twelve-month (TTM) revenue was reported at $81.95 million, against a TTM Net Loss of -$159.20 million. The Enterprise Value as of November 2025 (TTM) stood at $103.29M, while the Market Cap on December 5, 2025, was $19.31 million. The gross margin remains high at 70.72% TTM, which speaks to the core service profitability before significant operating costs. Finance: draft 13-week cash view by Friday.

F45 Training Holdings Inc. (FXLV) - Canvas Business Model: Customer Relationships

You're looking at how F45 Training Holdings Inc. keeps its members and franchisees engaged, which is the core of their franchise model. The relationship is built on a highly structured, repeatable system, which is key for a global franchisor.

Automated, standardized digital delivery of workouts in-studio.

The in-studio experience relies heavily on technology to ensure consistency across the network. F45 Training Holdings Inc. delivers workouts through a digitally-enabled platform, which leverages a rich content database of thousands of unique functional training movements. This system provides new workouts each day, offering a standardized experience. While specific daily digital delivery metrics aren't public, the brand's success is tied to this standardization. For context on the digital ecosystem, the broader fitness app market revenue alone is expected to surpass $10 billion in 2025.

Dedicated franchisee support and operational coaching.

The relationship with the franchisee customer segment is critical, as they are the direct touchpoint for the end-user. F45 Training Holdings Inc. emphasizes goal-setting support and operational coaching for its owners. The appeal of this support structure is evident in the market's response; in early 2025, the company reported a 23% year-over-year increase in franchise inquiries. This indicates strong perceived value in the franchisor's support system. Furthermore, in 2024, the company sold 87 franchises across its portfolio, showing active growth in this relationship.

Here's a quick look at the scale of the network F45 Training Holdings Inc. supports as of mid-to-late 2025:

Metric	Value/Range	Source Context Year
Total Global Locations	1,700+	July 2025
2024 New Studios Opened (All Brands)	75	2024
2024 Franchises Sold (All Brands)	87	2024
2024 Global Membership Lead Volume Increase	19%	2024
F45 Challenge Program Duration	45-day	2025

High-touch, in-person coaching from certified F45 trainers.

The high-touch element comes from the in-studio trainers who execute the standardized workouts. This human element is what differentiates the boutique experience from purely digital offerings. While the exact number of certified trainers isn't readily available, the model is predicated on this in-person guidance, which supports the team-based training ethos. If onboarding new trainers takes longer than expected, member satisfaction can dip, so this area requires constant attention.

Digital engagement via the F45 Challenge app and social media.

Digital engagement extends beyond the in-studio screens. The F45 Challenge app is central to this, providing goal-targeted daily calorie intake and meal plans, which members can access even between official Challenges. For 2025, the next Challenge dates are scheduled for May 12 - June 25 and Oct 13 - Nov 26, creating recurring digital engagement touchpoints. Furthermore, F45 Training Holdings Inc. has a partnership with Samsung, making its workout library available on Samsung Daily+ in over 100 million households globally, significantly expanding its digital reach outside the studio walls.

Community building through team-based training and challenges.

The team-based training structure inherently fosters community, which is a primary driver of member retention. The F45 Challenge is the most structured community event, designed as a 45-day journey focused on personal progress supported by the local studio community. This focus on shared goals and accountability is what turns an occasional visit into a daily routine for many members. The overall fitness market size in 2025 is valued at $108.1 billion, showing the scale of the industry F45 Training Holdings Inc. is building its community within.

F45 Training Holdings Inc. (FXLV) - Canvas Business Model: Channels

You're looking at how F45 Training Holdings Inc. (FXLV) gets its product-the functional group fitness experience and franchise opportunity-out to the world as of late 2025. This is a multi-pronged approach, blending physical locations with significant digital outreach.

Global network of franchised brick-and-mortar studios

The primary channel remains the physical studio footprint, which supports both the core fitness offering and the franchise sales pipeline. This network is the engine for recurring royalty revenue.

The global network size and recent expansion metrics are key here:

• There are more than 1,700 F45 franchises worldwide, as of a July 2025 data point.
• In 2024, across the entire portfolio (F45, FS8, VAURA), 75 new studios opened.
• The total investment to open a franchised facility ranges from $349,200 to $786,100.
• The brand has a long-term goal to grow to 23,000 studios worldwide.

Direct sales of franchises to new and existing owner-operators

The direct sale of franchise rights is a critical revenue channel for F45 Training Holdings Inc. (FXLV), driving upfront fees and expanding the physical network. The demand signal for this channel appears strong heading into 2025.

Here are the numbers related to franchise acquisition and ongoing fees:

Metric	Amount/Rate
Franchise Ownership Inquiries (YoY Increase as of early 2025)	23%
Franchises Sold (Across all brands in 2024)	87
Initial Franchise Establishment Fee	$60,000
Ongoing Royalty Fee (Minimum)	$2,500 per month or 7% of gross sales
Brand Fund Contribution (Minimum)	$200 per month or 2% of gross sales
Fixed Monthly Marketing Fee	$2,500 per month

The structure includes incentives, such as a 50% refund of the establishment fee if the studio opens within five months. Also, approved U.S. military veterans can receive up to a 50% discount on the establishment fee.

Digital content distribution via the F45 Challenge app

The F45 Challenge app serves as a direct-to-consumer channel for nutrition guidance and, for members, on-demand workouts, acting as a retention and engagement tool.

The core digital product is structured around specific timeframes:

• The F45 Challenge is a guided 45-day program.
• The published 2025 Challenge dates include:
• FEB 10 - MAR 26
• May 12 - June 25
• Oct 13 - Nov 26
• Non-members can access meal plans and educational content via the app, but On-demand workouts require an active studio membership.

Partnerships for digital reach (e.g., Samsung Daily+)

Strategic partnerships are used to introduce the brand to massive, non-studio audiences, effectively using digital platforms as a top-of-funnel acquisition channel.

The partnership with Samsung Electronics is a major digital play:

• F45 Training workouts are available on Samsung Daily+ via 2024 Samsung TVs and future releases.
• This partnership gives F45 access to a global reach of over 100 million TVs.
• The content provided is free access to a library including Cardio, Strength, Hybrid, and Recovery workouts.
• Other strategic partnerships forged in 2024 include collaborations with fitness competition brands Hyrox and Spartan, and the Battle Cancer initiative.

Master Franchise agreements for international market penetration

Master Franchise agreements are the key channel for rapid, capital-light international expansion, leveraging local expertise for market penetration.

Recent Master Franchise activity in 2024 included expansion into new regions:

• South Africa for F45 Training, led by Functional Fitness South Africa Pty Ltd.
• South Korea for FS8, through the partner Embrace.
• Enhanced presence in the U.K. and Europe for FS8, via the continued partnership with Club Sports UK.

This strategy is aimed at building out the portfolio brands, as FS8 also saw expansion into new regions.

F45 Training Holdings Inc. (FXLV) - Canvas Business Model: Customer Segments

Franchisees: Investors and owner-operators seeking a scalable business model.

The global opportunity estimate for studios remains over 23,000 units.

Franchise ownership inquiries saw a 23% year-over-year increase in 2024.

In 2024, 87 franchises were sold across the portfolio of brands.

Core Members: Fitness enthusiasts seeking high-intensity, functional group training.

Global membership lead volume increased by 19% in 2024.

The flagship F45 Training brand achieved a 12.4% global Average Unit Volume (AUV) growth in 2024.

The company operates through three reportable segments: United States, Australia, and Rest of World.

The United States segment includes operations in the United States and 17 studios in Central and South America.

The Australia segment deals with operations in Australia, New Zealand, and the immediately surrounding island nations.

The Rest of World segment includes operations in locations other than the United States and Australia.

The following table shows key performance indicators relevant to the Franchisee and Core Member segments based on 2024 performance data:

Metric	F45 Training Brand Value	FS8 Brand Value	VAURA Pilates Brand Value
Global AUV Growth (2024)	12.4%	23.9%	51.1%
Global Same Store Sales Growth (2024)	5.6%	8.3%	21.6%

Wellness Consumers: Individuals interested in holistic health, recovery, and weight management.

F45 Training plans to expand its "Recovery and Wellness" concept to provide holistic solutions.

The global Pilates and yoga studio market is projected to reach $417 billion by 2033.

Corporate/Institutional: Employers or health plans seeking fitness reimbursement options.

The trailing twelve month revenue for F45 Training Holdings Inc. was $81.95 million.

The company's market capitalization as of August 14, 2025, was $19.81 million.

Earnings for the last reported period were $-159.20 million.

• The company employed 160 full-time employees.
• The company employed 113 total employees.

F45 Training Holdings Inc. (FXLV) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive F45 Training Holdings Inc.'s operations, based on the latest reported figures, which are primarily for the Trailing Twelve Months (TTM) ending June 30, 2023, or the full fiscal year 2022, as 2025 data isn't yet public.

High Selling, General & Administrative (SG&A) expenses represent a significant cost center. For the TTM ending June 30, 2023, SG&A expenses were reported at $161.58 million. This compares to the full fiscal year 2022 figure of $186.38 million. These costs cover the corporate overhead necessary to manage a global franchise network.

The Cost of Revenue, which includes costs related to equipment and merchandise sales, was $23.99 million for the TTM ending June 30, 2023. This contrasts with the full fiscal year 2022 Cost of Revenue of $32.58 million. Remember, equipment and merchandise revenue is driven by the sale of the World Packs needed to open a studio.

Servicing the company's debt is a material cost. F45 Training Holdings secured a $90 million subordinated debt facility in February 2023, with interest structured to be paid in kind (PIK). Concurrent with this, the existing Senior Secured Revolving Credit Facility with JP Morgan Chase Bank, N.A. was amended to a $70 million senior secured facility. The reported Interest Expense for the TTM ending June 30, 2023, was $22.45 million, up from $14.98 million in fiscal year 2022.

Here's a quick look at the key expense and debt figures in millions of USD:

Metric (USD Millions)	TTM Ending June 30, 2023	FY 2022
Selling, General & Admin (SG&A)	161.58	186.38
Cost of Revenue	23.99	32.58
Interest Expense	22.45	14.98

Technology development and content creation costs are embedded within operating expenses. Wages and salaries for fitness programming development and testing, plus technology costs for development and maintenance of the centralized delivery platform, are all part of this structure. For Research And Development Expenses specifically, the reported figure for the TTM ending June 30, 2023, was $0.00 million, though qualitative descriptions confirm ongoing investment in the proprietary platform.

Expenses related to Franchisee support, training, and global marketing fund are substantial, though often passed through or tied to franchise revenue. These costs include wages for ongoing administrative and franchisee support functions, brand marketing, and onboarding. Franchisees directly contribute via ongoing fees which fund these activities:

• Royalty Fee: The greater of 7% of gross sales or $2,500 per month.
• Brand Fund Contribution: The greater of 2% of gross sales or $200 per month.
• Fixed Marketing Fee: A fixed $2,500 per month.
• Training Expenses: Currently, $250 per day per person trained for certain support.

The initial investment for a franchisee also covers an initial $52,000 franchise fee and initial training costs up to $1,000 for the induction seminar for two attendees.

Finance: draft 13-week cash view by Friday.

F45 Training Holdings Inc. (FXLV) - Canvas Business Model: Revenue Streams

You're analyzing the core money-makers for F45 Training Holdings Inc. (FXLV) as we look toward late 2025. The business model heavily relies on its franchise network for consistent, recurring revenue, supplemented by initial setup fees and equipment sales. Honestly, understanding the mix between upfront cash and long-term royalties tells you a lot about the stability of their model.

The primary revenue streams flow directly from the franchisee relationship. You see an initial cash injection when a new studio opens, followed by a steady drip of fees tied to the studio's ongoing performance. For instance, the average unit volume (AUV) for F45 Training saw a 12.4% global increase in 2024, which directly impacts the royalty pool.

Here's a look at the key financial components that make up the revenue streams:

• Upfront franchise establishment fees, which recent disclosures suggest are $50,000 to become a franchise owner.
• Sales of proprietary studio equipment and initial World Packs, which are critical for launching the 'turn-key' system.
• The Trailing Twelve Month (TTM) Revenue was $81.95 million as of June 30, 2023, showing the scale of operations at that point.

The recurring fees are where the long-term value is built. These are structured to ensure F45 Training Holdings Inc. benefits from the success of every studio, though the structure has a few moving parts you need to track. If a studio is doing well, the percentage kicks in; if it's just starting, the minimum ensures a baseline income for the franchisor.

Here's the quick math on those ongoing obligations:

Revenue Component	Calculation Basis	Minimum/Fixed Amount
Ongoing Royalty Fee	7% of gross sales	$2,500 per month
Brand Fund Contribution	2% of gross sales	$200 per month
Technology/Marketing Fee	Fixed Monthly Fee	Reportedly a fixed marketing fee of $2,500 per month is also required by some sources.

To be fair, the initial investment to open a studio is substantial, ranging from $349,000 to $786,000 in some 2025 estimates, but that large initial outlay is what funds the equipment and initial setup, which then feeds into the equipment sales revenue stream for F45 Training Holdings Inc. The recurring fees, however, are the engine for sustained corporate revenue.

The company also generates revenue through its other brands, FS8 and VAURA Pilates, which showed significant growth in 2024, with VAURA Pilates AUVs soaring 51.1% year-over-year. This diversification into adjacent fitness concepts represents an evolving, high-potential revenue stream beyond the core F45 Training model.

Finance: draft 13-week cash view by Friday.