F45 Teams With Fortress Affiliates to Offer $150M Funding to Franchisees
Candace Cordelia is a Pennsylvania-based journalist and on-camera broadcaster/host, with…
With high-profile celebrities like Mark Wahlberg and David Beckham in its corner, F45 is seeking to take over 2022 with the help of Fortress Credit Corp. and $150 million to help expand its presence in the United States
F45 may have lost its battle with Body Fit Training earlier this year, but perhaps it will win the war in the competitive fitness industry. The growing franchisor recently announced its plans to expand in the United States, thanks to the birth of a strategic funding facility with Fortress Credit Corp. affiliates. This facility will provide eligible F45 franchisees with “access to growth capital to support the development of new F45 studios across the United States.” $150 million funding deemed by F45 President, CEO and Chairman Adam J. Gilchrist as “strategic financing” with Fortress will help fund the ambitious project.
“Coming out of the pandemic, access to attractive growth capital has become more challenging for small- and medium-sized business, especially in the boutique fitness space. By establishing a new bespoke financing solution tailored to the specific needs of our franchisees, we have taken proactive measures to assist our franchisees in executing on their growth ambitions while creating even greater visibility in our own business,” said Gilchrist in a press statement.
“In addition, because the facility will be off-balance sheet from F45’s perspective, we are able to maintain our highly attractive economic model predicated on capital efficiency.”
Gilchrist goes on to say innovation is one of the three core pillars of the fitness brand and that F45 remains committed to its mission of bringing the workouts to all fitness fans as the company sees unprecedented demand. Current and prospective F45 franchisees will be allowed to apply for funding in the second quarter of this year.
F45 was founded in Australia in 2011 and caught the attention of Hollywood actor/producer Mark Wahlberg and former professional soccer player David Beckham. The former is an F45 investor, while the latter was named as a brand ambassador in 2021. The functional fitness company provides HIIT-style and circuit workout classes termed as “life changing.” At the start of 2022, F45 was ranked on Entrepreneur’s prestigious Franchise 500 list at number 42.
Candace Cordelia is a Pennsylvania-based journalist and on-camera broadcaster/host, with a reporting background in wrestling, entertainment, and lifestyle. Her reporting work has been featured on websites and in publications such as Bustle, Pro Wrestling Illustrated, New York Daily News, am New York, ABC News, Yahoo!, Good Morning America, Madame Noire, Sister 2 Sister, etonline.com, Diva Dirt and The Everyday Fan. Her favorite workout influencers include Chloe Ting, Cassey Ho, Pamela Reif and Mary Braun. She still can’t stand burpees and Rebbl Dark Chocolate Immunity Elixir is one of her favorite post-workout protein sips. You can follow Candace on Twitter @CandaceCordelia and on Instagram @thatgirlcandace16.