TRI / Tenant Scores / F45 Training
53
Risk Score
Monitor
Updated March 20, 2026
High confidence · Multiple public sources
Based on public data sources. Private data available in detailed reports.
Based on public data sources. Private data layer available in detailed reports.
Fitness Studio
Scored as: Fitness Studio

F45 Training

F45 Training is a boutique fitness franchise operating high-intensity interval training studios through a network of over 1,500 locations in 55+ countries. The company operates under FIT House of Brands and offers 45-minute functional training classes combining cardio, resistance, hybrid and recovery workouts.

F45 agreed to pay $11 million to settle a shareholder class action lawsuit in February 2026, pending court approval. The company shows operational recovery with record average unit volumes up 12.4% in 2024 and new global partnerships with HYROX and iFIT. However, the parent company remains financially distressed, trading over-the-counter at $0.08-$0.10 after delisting from NYSE in August 2023.
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Category Scores
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Category Scores

What the signals show.

Each category is scored 0 to 100 based on public data signals. Weights adjust by tenant type. Scores update monthly.

Business Health
Entity status, filings, financial signals, press
45
Employment & Operations
Job postings, store status, website activity
65
Customer Sentiment
Reviews, ratings, response rate
55
Legal & Compliance
UCC liens, court records, BBB, regulatory
45
Local Market
Demographics, competition, local conditions
N/A
Industry & Sector
Sector health, competitive risk, labor costs
75
How F45 Training compares to Fitness Studio tenants nationally
This tenant
53
Category average
65
About This Rating

What this score means.

Fitness studios are capital-intensive tenants requiring specialized buildouts but typically sign longer leases due to investment requirements. Legal issues and corporate financial health are most predictive of lease performance, as franchise-level operations can remain stable even during parent company distress.

This score of 53 is 12 points below the fitness category average of 65, reflecting significant legal and financial headwinds despite operational improvements.

Signal Detail

What we found.

Signal detail is available to free account holders. Enter your email below to view all detected signals for F45 Training.

Business Health 3 signals detected
→ F45 operates under FIT House of Brands with network of over 1,500 studios in 55+ countries — GlobeNewsWire, February 2026
↑ F45 Training AUVs increased by 12.4% in 2024 with Same Store Sales up 5.6% globally — BusinessWire, January 2025
→ Company trades OTC at ~$0.08-$0.10 with market cap of ~$7-9M after NYSE delisting August 15, 2023 — Yahoo Finance, January 2026
Employment & Operations 3 signals detected
→ In June 2022, F45 laid off 45% of its HQ staff — Fitt Insider, August 2023
→ 83 active F45 Training job listings found on ZipRecruiter across the U.S. as of February 2026 — ZipRecruiter, February 2026
→ Glassdoor shows 3.8/5.0 overall employee rating based on 792 reviews — Glassdoor, 2025
Customer Sentiment 3 signals detected
⚠ F45 Allston BBB profile rated 'F' due to failure to respond to 2 complaints — BBB, 2025
⚠ BBB complaints include franchise closures leaving members without refunds at Colorado Springs location — BBB, 2024
→ Named 'Best Circuit Workout' by Men's Health 2024 and ranked in Entrepreneur's 2025 Franchise 500 — BusinessWire, January 2025
Legal & Compliance 3 signals detected
→ Proposed $11M settlement of shareholder class action filed February 2026, pending federal judge approval in Austin — Yahoo Finance, February 2026
⚠ Securities class action lawsuit filed December 2022 in US District Court, Western District of Texas — Stanford Securities Class Action Clearinghouse
⚠ David Beckham settled separate lawsuit against F45 for $18.8M — Bleacher Report
Local Market N/A
Not applicable for this tenant type
Industry & Sector 3 signals detected
→ U.S. fitness industry revenues estimated at $45-46 billion in 2025, with nearly 77 million Americans holding gym/studio memberships in 2024 — MMCG Invest, 2025
→ 10 million people joined a gym or studio in 2025, a 14% increase year-over-year — ABC Fitness, December 2025
→ Strength training is the dominant digital fitness category; HIIT-based cardio losing market share — Wexer, February 2026
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Recommendation

What to do next.

Initiate contact within 30 days. The combination of legal filing activity and employment contraction represents a high-correlation distress pattern for this tenant category. We recommend a direct conversation before the renewal window opens. Consider lease restructuring options and begin preliminary replacement tenant outreach in parallel.

A detailed report includes the full recommendation, source citations, and a step-by-step action plan.

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