Fitness Center Feasibility Study in the Boise City, ID Metro Area

Boise as a fitness lending market

Fitness centers take third place of 39 classes in the Boise City mix, while the area comes 40th of 608 for the class nationally. The location quotient is 1.22x, so the class makes up more of Boise lending than of lending in the country as a whole. Over FY2017 to FY2026 SBA recorded 70 loans totaling $24.5 million, and the median loan is $192,550, which is 0.74x the national fitness center median, and the middle half runs from $85,250 to $488,400.

Program counts: SBA 7(a) backs 64 of the fitness center loans and SBA 504 backs 6. Franchise brands appear on 47.1% of the loans, so branded and independent operators are roughly level. Ada County alone has 56 loans. Zions Bancorporation, National Association holds the most loans, 9 for $1.4 million, then Washington Trust Bank with 7 for $4.5 million and Idaho First Bank with 5 for $1.2 million; Washington Trust Bank's dollars per loan run far larger. Each lender named is a current holder in SBA's file, and the list says nothing about how Zions Bancorporation, National Association treats fitness borrowers.

For Boise City fitness center loans, Loan Analytics keeps back the cancellation floor and also the charge-off rate, because the counts are too small to print; a blank is not zero, and it is missing evidence, not a clean record. Only a few years carry printed volume: 12 loans and $2.0 million in FY2017, 7 and $2.1 million in FY2019, and 7 and $5.2 million in FY2023. The area takes in a loan when the loan's project county sits within the July 2023 boundaries; any loan whose county cannot be placed drops out.

What a study for a Boise gym must test

A study here should test membership demand within a drive time of the site, the pricing of competing clubs and boutique studios, lease terms and build-out cost, equipment financing and replacement, and coverage of debt service when revenue depends on recurring dues and retention. It should settle whether the project is leased space or an owned building, because the appraisal question is then the business or the leasehold. The numbers here serve as context for a fitness center study in Boise City; approval is never promised.