Curves vs F45 Training
Curves vs F45 Training: Curves costs $25K to $200K to open; F45 Training costs $349K to $786K. Curves has 380 units, F45 Training has 753. SBA loan history: Curves = 493 loans (16.4% default); F45 Training = 270 loans (5.6% default). The franchise with more SBA funded units, a lower SBA default rate, and a lower royalty load is the safer financing bet; see the comparison below.
Curves vs F45 Training: Capital, Scale & Lending Analysis
Analysis based on FDD filings and SBA 7(a) loan level data. Each pairing reflects a unique combination of capital intensity, system scale, and financing path.
Capital Intensity
Curves requires the lower minimum capital commitment ($25K vs $349K for F45 Training), a 93% spread. Initial franchise fees come in at $25K for Curves versus $60K for F45 Training, Curves has the lower entry fee. Ongoing royalty load is 7.5% for Curves and 7% for F45 Training, giving F45 Training the lighter per-unit drag on operating income.
System Scale & Tenure
On scale, F45 Training operates 753 units to Curves's 380. Curves has been operating 34 years (founded 1992) versus 13 for F45 Training (founded 2013), a 21-year tenure gap that affects unit-economics maturity and FDD revision history.
SBA Lending Profile
Curves has the deeper SBA lending track record, with 493 7(a) approvals compared with 270 for F45 Training. Curves's peak SBA year was 2004 (84 loans); F45 Training's peak was 2020 (63 loans). F45 Training's more recent peak generally indicates fresher lender appetite. Both systems have the most SBA funded units in TX. Borrowers in that state will find the deepest lender familiarity with either brand. Average SBA loan size on funded Curves deals is $96K vs $281K for F45 Training, useful as a sizing anchor when modeling your own unit.
Risk Signal
SBA default rates are 16.4% for Curves and 5.6% for F45 Training, F45 Training has the cleaner SBA loss record by 10.8 points. PeerSense FPI scores come in at 28 (Fair) for Curves and 58 (Moderate) for F45 Training, giving F45 Training the stronger composite signal across SBA performance, lender appetite, and operational consistency.
Health & Performance
FPI Score | 28/100 | 58/100 |
Health Tier | Limited | Moderate |
Confidence | N/A | N/A |
Lending Trend | Declining | Declining |
SBA Lending
SBA Loans | 493 | 270 |
SBA Volume | – | – |
Default Rate | 16.4% | 5.6% |
Peer Tier | major | major |
Investment & Costs
Total Investment | $25K to $200K | $349K to $786K |
Franchise Fee | $25K | $60K |
Royalty Rate | 7.5% | 7% |
Ad Fund | 2% | 2% |
Liquid Capital | N/A | $100K |
Net Worth Required | N/A | N/A |
Financial Performance (Item 19)
Item 19 Status | Not Disclosed | Disclosed |
System Size & Operations
Total Units | 380 | 753 |
Franchised Units | 380 | 751 |
Company Owned | – | 2 |
Term Length | 10 yrs | 10 yrs |
Brand Information
Year Founded | 1992 | 2013 |
Franchising Since | 1995 | 2015 |
Years Franchising | 31 yrs | 11 yrs |
Headquarters | DALLAS, TX | Austin, TX |
Category | Fitness | Fitness |
Website | ||
FDD Year | N/A | 2025 |
Which Is Better, Curves or F45 Training?
Lower upfront capital required
Tie
Curves: $25K starting · F45 Training: $349K starting
More SBA lender confidence
Curves
Curves: 493 SBA loans · F45 Training: 270 SBA loans
Lower SBA default rate
F45 Training
Curves: 16.4% · F45 Training: 5.6%
Larger system & brand presence
Tie
Curves: 380 units · F45 Training: 753 units
Lower ongoing royalty load
F45 Training
Curves: 7.5% · F45 Training: 7%
More lender financing options
Curves
Curves: 210 unique lenders · F45 Training: 95 unique lenders
Decision matrix uses publicly disclosed FDD and SBA loan data. Not a recommendation. Your best franchise depends on capital, market, operating capacity, and risk tolerance.
Need Funding for Curves or F45 Training?
PeerSense connects you with 500+ SBA lenders and capital sources. Our referral fee is established upfront and paid at closing.
SBA Lenders & Capital Sources
Retainers or Consulting Fees
10% Down Franchise Loans
About These Franchises
Curves vs F45 Training: Franchise Funding Comparison
Comparing Curves and F45 Training is about more than brand preference. It's about which franchise fits your financial profile and funding strategy. Investment ranges from $25K to $786K.
Curves has 493 SBA loans on record and F45 Training has 270. Those totals are cumulative history rather than a measure of current appetite. Recent lending activity is trending down for at least one of these brands, so current lender appetite has to be checked deal by deal rather than assumed from the totals.
SBA 7(a) loans are the most common franchise funding vehicle, offering up to $5M with as little as 10% down. PeerSense connects franchise buyers with the specific lenders who have approved loans for these brands, not generic referrals, but lenders with actual franchise lending track records.
Data sourced from SBA loan records, Franchise Disclosure Documents, and public filings. Updated regularly. Not financial advice, consult with a lending professional before making investment decisions.
Curves vs F45 Training, Frequently Asked Questions
Which is a better franchise investment, Curves or F45 Training?
How much does a Curves franchise cost compared to F45 Training?
Can I finance Curves or F45 Training with an SBA loan?
Which has a lower SBA default rate, Curves or F45 Training?
Talk to PeerSense
Tell us which brand and your budget. We source capital from lenders who have already funded deals in these systems.
Franchise / SBA 7(a): The desk will reach out. No obligation.
Page Review
Reviewed by Edward L. Freeman, Founder and Managing Director, PeerSense
- PeerSense is a capital advisory firm that places commercial financing with direct capital sources; the capital source sets final terms.
- Edward L. Freeman founded PeerSense in January 2020.
- He is a Registered Franchise Consultant with Business Alliance, Inc., a credential issued in March 2022, and worked as a franchise consultant there from March 2022 to May 2023.
- His recorded experience includes a $22 million SBA construction loan, with about $16 million funded on the deal.
- In the 12 months through September 30, 2026, PeerSense tracked 912 publicly announced financings with a disclosed size of $361.32 billion. PeerSense Capital Data Report · Methodology page
Last reviewed LinkedIn profileAbout Edward Freeman