Fitness Center Feasibility Study in the Louisville/Jefferson County, KY-IN Metro Area

Louisville gyms across the state line

Louisville and Jefferson County brings 47 of 608 in the area ranking for fitness center loans and 3 of 39 in Louisville and Jefferson County’s class list. A 1.39x location quotient shows gyms weigh well above their country-wide share. The area spans Kentucky and Indiana; the files list 54 loans for $23.7 million. Half of Louisville and Jefferson County fitness center loans fall from $89,825 to $467,200, around a $188,150 median that is 0.73x of the national fitness center median.

Jefferson County, Kentucky has 39 loans, with Clark County, Indiana and Floyd County, Indiana at 5 each. Franchise ties show on 48.1%. Republic Bank & Trust Company holds 9 loans for $1.8 million and Stock Yards Bank & Trust Company holds 8 for $3.5 million. The program split is withheld. Treat Louisville and Jefferson County lender counts as the current holder SBA lists, not a view of what Republic Bank & Trust Company will fund. Holdings, not wishes.

Looking at fitness center in Louisville and Jefferson County, no figure shows for the cancellation floor and any charge-off figure since few loans support it; read it as missing. Year by year, Louisville and Jefferson County has 5 loans and $1.7 million in FY2017, 7 and $3.3 million in FY2018, 7 and $3.1 million in FY2019, 5 and $5.0 million in FY2021, and 5 and $1.4 million in FY2023.

The area spans two states, so a study should name the county of the site and the competing clubs on that side of the river, since the cell blends both.

Testing a Louisville fitness plan

A study should test member base within drive time, pricing against rival gyms and boutique studios, lease and fit-out cost, equipment replacement, churn in the first year, and whether recurring dues cover the payment. Because the cell spans two states, it should also say which side of the river the site sits on, since permits and local competition differ. Which fitness center loans fall in Louisville and Jefferson County is set on its project county against the July 2023 delineation. Unplaceable loans in Louisville/Jefferson County are skipped. We set these figures to inform any fitness center engagement around Louisville and Jefferson County, which Daniel Smith, MAI, signs; and approval is the lender’s call.