An F45 franchise in Australia costs between AUD $349,000 and $786,000 plus GST, with a median investment of $450,000–$550,000. The franchise fee is $60,000, fitout and equipment dominate the spend, and ongoing fees include a 7% royalty plus a fixed $2,500/month marketing charge. What makes F45 unusual is what sits beneath the headline number: combined fixed monthly minimums of roughly $5,000 apply regardless of revenue, the brand carries an independent risk score of 6.70/10 (Elevated Risk), and the average resale price is just AUD $193,860 — about 60% below median investment. That single resale figure is the most important number prospective buyers should understand before signing anything.

See also: 10 Things to Check Before Buying a Franchise in Australia

TL;DR: F45 franchises in Australia cost AUD $349,000–$786,000 (median ~$500,000). The $60,000 franchise fee plus 7% royalty and $2,500/month fixed marketing create combined fixed minimums of ~$5,000/month. Studio revenue typically lands at $400,000–$700,000/year, with owner-operator returns ranging from $15,000 (median) to $120,000+ (top quartile). Resale prices average $193,860 — a ~60% capital loss against median investment. Independent risk score: 6.70/10 (Elevated).

Franchise Cost Guide 2026

FranchiseInsights | Independent Analysis

How Much Does an F45 Franchise Cost in Australia?

The total initial investment for an F45 franchise in Australia ranges from AUD $349,000 to $786,000 plus GST, according to F45's current franchise disclosure documentation. Most buyers land between $450,000 and $550,000 once fitout, equipment, and working capital are factored in. That places F45 in the upper tier of boutique fitness franchise investments in Australia, comparable to Orangetheory Fitness and well above 24/7 budget gym formats.

The headline range is wide because three variables move the number significantly: studio size (typically 200–400 sqm), site condition (greenfield versus an ex-retail fitout), and landlord contributions (which can range from zero to $80,000+ in fitout incentives in soft retail markets). Buyers signing in capital cities with strong landlord competition often land near the lower end. Buyers signing in regional centres with limited site options frequently push toward the upper bound.

Where the Money Goes — F45 Investment Cost Breakdown

Fitout costs ($200,000–$450,000) represent the largest single block. This covers the studio buildout — flooring, mirrors, branded environmental graphics, ventilation upgrades for high-intensity training, and the functional training stations required by F45's format. Compliance with the Building Code of Australia, fire egress, and accessibility standards adds variable cost depending on the site.

Equipment and technology ($50,000–$100,000) includes F45-branded training equipment, the Lionheart heart-rate monitoring system, the digital screen system that drives F45's class programming, and member management technology. These are franchisor-specified purchases with limited negotiation room — you cannot source equivalent gear independently.

Initial franchise fee ($60,000) is non-refundable and due upfront. It buys territory rights, access to F45's daily-updating workout library, brand training, and pre-opening support. It does not include any ongoing royalty.

Working capital ($50,000–$150,000) covers the first three to six months of operations before the studio reaches breakeven member counts. Realistically, most studios need 150–200 active members paying full price to cover fixed costs, and ramping to that level typically takes 6–9 months from launch.

Initial supplies and pre-launch marketing (~$15,000–$25,000) covers founding-member acquisition campaigns, signage permits, and opening-event costs.

Citation capsule: An F45 franchise in Australia requires AUD $349,000–$786,000 plus GST in total initial investment, with a median outlay of $450,000–$550,000. The franchise fee is $60,000, fitout runs $200,000–$450,000, equipment and technology adds $50,000–$100,000, and working capital requirements range from $50,000 to $150,000, per F45 franchise disclosure documents (2026).

What Is the F45 Franchise Price Structure That Catches Buyers Off Guard?

F45's ongoing fees total roughly 9% of gross revenue plus a fixed $2,500 per month marketing charge, creating a combined fixed minimum of approximately $5,000 per month before any percentage-based fees even apply. This "whichever is higher" structure is the feature most often underestimated during the sales process.

How the Minimums Work

The royalty is 7% of gross sales or $2,500 per month, whichever is higher. The brand fund is 2% of gross sales or $200 per month, whichever is higher. The marketing fund is a flat $2,500 per month with no revenue-linked alternative.

At lower revenue levels, these minimums hit hard. A studio generating $400,000 annually pays at least $60,000 per year in fixed fees alone — that's 15% of gross revenue going to the franchisor before rent, wages, or any other cost. For studios below $350,000, fixed fees consume over 17% of revenue.

The crossover point where percentage-based fees exceed the minimums is approximately $430,000 in annual gross revenue for the royalty ($2,500/month = $30,000/year; 7% of $430,000 = $30,100). Below that threshold, you're effectively paying more per dollar of revenue than the headline 7% rate suggests.

How F45 Fees Compare to Competitors

The royalty percentage itself sits within the normal range for boutique fitness. The outlier is marketing — a fixed $2,500 monthly charge regardless of studio size or revenue. Most competitors use a percentage-based marketing fee, which scales with the franchisee's capacity to pay. F45's structure doesn't. A studio doing $300,000 in revenue pays the same $30,000 marketing contribution per year as a studio doing $700,000.

Citation capsule: F45 Training charges a 7% royalty (or $2,500/month minimum), 2% brand fund (or $200/month minimum), and a fixed $2,500/month marketing fee. Combined fixed monthly minimums total approximately $5,000 before percentage-based fees apply, making F45 one of the more expensive boutique fitness franchises at lower revenue levels.

What Is F45 Franchise Revenue in Australia?

F45 studios in Australia typically generate AUD $400,000–$700,000 in gross annual revenue, with revenue per studio driven primarily by active member count and average membership pricing. Strong-performing urban studios push above $700,000. Below-median studios in fringe suburban or regional locations frequently sit under $400,000.

Revenue Math: Members × Price × Retention

The standard F45 revenue formula in Australia is:

• Active members: typically 250–350 at a mature studio
• Average price: $50–$70 per week ($217–$303 per month) for unlimited classes
• Annual revenue per member: approximately $2,600–$3,640
• Annual studio revenue: $650,000–$1,275,000 at full theoretical capacity

The gap between theoretical capacity and actual revenue is member churn. Boutique fitness churn rates run 5–8% per month, which means a 300-member studio loses 15–24 members per month. Just to hold steady, the studio needs to acquire that many new members every single month — and the fixed $2,500 marketing fee doesn't flex during slow months.

Owner-Operator Returns by Performance Tier

These figures assume the owner works the business as an active operator. If you're paying a manager $80,000+ to run the studio remotely, the median performer tier doesn't return a positive number after manager wages, ROI, and finance costs.

Why Revenue Sensitivity Matters

F45's high fixed-cost base creates operating leverage in both directions. A 10% revenue drop reduces operating profit by roughly 20%+, because fixed franchisor fees, rent, and trainer scheduling don't flex proportionally. Conversely, a 10% revenue increase often delivers 20%+ profit growth — which is why hands-on operators in good markets can do well, while passive operators or those in marginal locations struggle quickly.

Citation capsule: F45 studios in Australia typically generate AUD $400,000–$700,000 in annual revenue, based on 250–350 active members at $50–$70/week. Owner-operator returns range from $15,000 (below median) to $120,000+ (top quartile). The crossover point where percentage royalties exceed the $2,500/month minimum is ~$430,000 in annual revenue.

How Does F45 Compare to Anytime Fitness and Snap Fitness?

F45's investment range overlaps significantly with both Anytime Fitness and Snap Fitness, but the three franchises operate fundamentally different business models. F45 is class-based, trainer-intensive, and premium-priced. Anytime Fitness and Snap Fitness are 24/7 access gyms with lower trainer dependency and lower per-member pricing.

Side-by-Side Comparison

What the Comparison Reveals

Cost certainty: Anytime Fitness's flat $699/month royalty is the most franchisee-friendly structure of the three. Snap Fitness sits between Anytime and F45. F45's $2,500 marketing minimum is the highest fixed cost in the segment.

Effective royalty rate at scale: A club generating $50,000 monthly revenue pays Anytime ~1.4% effective royalty, Snap ~2.2%, and F45 7% — a $33,600 annual difference between F45 and Anytime at the same revenue level. As revenue grows, the gap widens further in favour of the flat-fee models.

Trainer cost burden: F45's class-based model requires 3–5 certified trainers per studio with active wages of 25–40% of revenue. Anytime and Snap operate with 4–6 staff total and minimal direct training costs. This is the single biggest operating-cost difference and the reason flat-fee 24/7 gyms generate more predictable margins.

Term length: F45's 5-year term is short by industry standards. Anytime Fitness and Snap Fitness offer 7-year terms, providing a longer capital recovery window and more leverage at renewal.

Network maturity: Anytime Fitness has more than double F45's Australian network. Network density helps with brand recognition, member reciprocity (cross-club access), and franchisor stability — and Anytime's franchisor parent has not undergone the corporate restructuring F45 has.

Read the full F45 vs Anytime Fitness analysis for deeper treatment of operational differences.

Citation capsule: F45's investment range of AUD $349,000–$786,000 sits between Snap Fitness ($300K–$700K) and Anytime Fitness ($350K–$975K). F45 charges 7% royalty + $2,500/month fixed marketing; Anytime Fitness charges $699/month flat; Snap Fitness charges ~$1,099/month. F45's trainer wage burden of 25–40% of revenue is roughly double the 10–15% load at 24/7 access gyms.

What Do F45 Franchise Testimonials Actually Say?

Verified F45 franchisee testimonials are surprisingly hard to find — and the ones franchisors supply during the sales process should be treated with appropriate scepticism. Public sentiment toward F45 has been mixed since the company's NYSE delisting in 2023 and the subsequent shareholder litigation.

Why "Official" Testimonials Are Limited Evidence

Franchisor-supplied testimonials are almost always from the network's top performers. They're real, but they're not representative. The studios you don't hear from are the ones below median, the ones that closed, and the ones whose owners signed non-disparagement clauses on exit.

Public testimonials at the franchisor's own marketing channels typically focus on lifestyle benefits, community feel, and brand passion — qualitative themes that are genuine for many franchisees but tell you very little about financial outcomes. None of the publicly available testimonials we reviewed provided studio-level revenue, profit, or resale data.

Where Honest Sentiment Actually Lives

Public news coverage during F45's NYSE listing period (2021–2023) and subsequent class-action settlements provides a more balanced picture. So do industry forums, LinkedIn posts from former franchisees, and the customer-facing review platforms (Google Reviews, Trustpilot) where ex-franchisees occasionally surface. Several themes recur:

• Strong brand and product satisfaction: Most franchisees consistently praise F45's class format, programming quality, and community culture.
• Frustration with the fixed fee structure: The $2,500/month marketing fee, which doesn't scale down during slow periods, is frequently cited as a sore point.
• Concerns about franchisor support post-restructuring: Several public posts reference reduced support quality after the 2023 ownership transition.
• Mixed feelings on resale: Sellers report difficulty achieving prices anywhere near initial investment, which aligns with the $193,860 resale average.

How to Get Real Testimonials During Due Diligence

Under Part 3 of the Franchising Code of Conduct, franchisors must provide a list of current franchisees and former franchisees who exited in the previous three years. Use it. Practical guidance:

1. Call at least 8–10 franchisees, not just the 2–3 the franchisor recommends.
2. Weight former franchisees heavily — they have less incentive to defend the system.
3. Ask for numbers, not feelings: "What was your annual gross revenue last year?" "What was your owner take-home?" "What was your churn rate?" "How long did it take to break even?"
4. Ask about renewal: "Were renewal terms what you expected? Did the franchisor request additional fitout investment at renewal?"
5. Ask about the resale process: "If you sold, what did you list for and what did you actually get?"

If a franchisor restricts access to the franchisee list, refuses to provide former franchisee contacts, or pressures you to skip these calls, treat it as a serious red flag.

Citation capsule: F45 testimonials supplied by the franchisor reflect top-quartile performers. The Franchising Code of Conduct requires disclosure of current and former franchisees, and prospective buyers should call 8–10 minimum and weight former franchisees heavily. Public sentiment since F45's 2023 NYSE delisting has been mixed, with consistent satisfaction on brand and programming but frustration with fixed fees and post-restructuring support.

What Do Most F45 Franchise Buyers Not Realise About Resale?

The average F45 franchise resale price is AUD $193,860, representing approximately 60% capital loss against the median initial investment of $450,000–$550,000. This single data point captures the central financial risk of the investment — and it's rarely discussed during the sales process.

The 5-Year Term Problem

F45's franchise term is five years. That's short. Most franchise systems offer seven to ten years, and some food and beverage brands extend to fifteen or twenty. A shorter term means less time to amortise the initial investment, earlier renewal uncertainty, and a weaker negotiating position at renewal. For an investment of $450,000+, five years creates intense pressure to generate returns quickly.

The interaction between the short term and low resale values is what makes F45's risk profile distinct. You don't just face the possibility of low returns — you face a structural deadline. By year three, you're already thinking about renewal negotiations rather than growth. And if the franchisor chooses not to renew, you're facing a forced exit into a market where resale prices average $193,860.

Corporate Instability Is Real

F45 was listed on the NYSE in 2022 and delisted in 2023 after significant share price deterioration and management turnover. The company is now owned primarily by creditors, including Kennedy Lewis Investment Management. The global studio network has contracted from over 1,750 to approximately 1,600. These aren't abstract concerns — they affect franchisor support, technology investment, marketing co-op, and long-term brand direction.

Member Churn Requires Constant Effort

Boutique fitness churn rates typically run 5–8% per month. For a studio with 300 members, that means losing 15–24 members every month. Just to hold steady, the studio needs to acquire that many new members — every single month. At F45's premium pricing of $220–$300 per month, that acquisition cost adds up fast. The fixed $2,500 marketing fee doesn't flex to help during slow periods.

In our analysis of dozens of boutique fitness franchise systems across the Australian market, a consistent pattern emerges: buyers underestimate churn replacement costs and overestimate the stickiness of premium fitness memberships. The studios that succeed tend to be run by operators with deep local marketing skills, not passive investors.

Citation capsule: F45 franchise resale prices average AUD $193,860, representing a ~60% capital loss against median initial investment of $450,000–$550,000. The 5-year franchise term — short by industry standards of 7–10 years — compounds this risk. F45 delisted from the NYSE in 2023 and is now creditor-owned, with the global network contracting from 1,750 to approximately 1,600 studios.

Is an F45 Franchise Worth It in 2026?

F45 Training carries an overall risk score of 6.70 out of 10 in our independent assessment, classified as Elevated Risk. The Financial Risk sub-score is 8.0 out of 10, driven by capital recovery challenges, the fixed fee squeeze, and low resale values. This doesn't mean every F45 franchise fails. It means the margin for error is narrow.

When It Works

Strong-performing F45 studios generate $700,000+ in annual revenue and return $80,000–$120,000+ to an owner-operator. These studios typically have tight labour costs (25–28% of revenue), favourable rent (under 12%), and strong local member acquisition pipelines. The owner is hands-on, often coaches classes themselves, and treats it as a full-time business — not a passive investment.

When It Doesn't

Studios generating below $400,000 face acute profitability pressure. Fixed fees of ~$60,000 per year, combined with labour costs of 25–40% and rent of 8–15%, leave almost nothing for the owner. At median revenue of $400,000–$550,000, the return is often $15,000–$50,000 before the owner's own labour is valued. That's a 3–10% return on a $500,000 investment — well below what Australian small-business buyers should accept for the risk profile.

The buyers who get into trouble are typically those who: (a) modelled their forecast on the franchisor's top-performer numbers, (b) underestimated churn replacement costs, (c) didn't have a financial buffer for months 1–9 ramp-up, or (d) signed in marginal locations because the prime territories were already taken.

Citation capsule: F45 Training scores 6.70/10 (Elevated Risk) in independent risk assessment, with Financial Risk at 8.0/10. Top-quartile studios return $80,000–$120,000+ on $700,000+ revenue; median studios at $400,000–$550,000 face thin margins of 3–10% ROI on a ~$500,000 investment. Capital recovery in 5 years is structurally difficult at median performance.

Final Word: What Should F45 Buyers Do Next?

If you're seriously considering F45, the financial work is non-negotiable. Build a model that tests revenue at $350K, $450K, $550K, and $650K. Stress-test with a 6% monthly churn assumption and a 9-month ramp. Walk through your fee schedule with a franchise lawyer. Call at least 10 current and former franchisees yourself.

If your model still works at the $450K revenue level — not the $700K aspirational scenario — F45 may be viable for you. If it only works at $700K+, the brand is selling you optimism, not a business case.

See also: Explore all fitness brand reports to compare options across the category.

Read the full F45 Training Brand Intelligence Report for detailed risk scoring, fee modelling, and 25+ due diligence questions to ask before signing.