Fitness Center Feasibility Study in the Nashville-Davidson--Murfreesboro--Franklin, TN Metro Area

Nashville gyms: gyms weigh nearly double their national share

A location quotient of 1.98x is the headline for fitness centers around Nashville-Davidson--Murfreesboro--Franklin: gyms weigh nearly double in local lending what they do in the national mix. The cell holds 109 approvals worth $49.4 million for FY2017 to FY2026, Nashville sits 31 of 608 across all areas, with gyms 3 of 39 at home.

The median is $350,000, 1.35x the national class median, and $150,000 and $533,600 mark the quartile edges. Franchised units are 65.1%, so most gyms operate inside a brand system. Loan Analytics withholds the program split along with the cancellation and charge-off rates, so none is printed and no blank is read as nil. That leaves lenders without any outcome measure for the cell. With a location quotient that high, a request should explain what sets the project apart from the other gym loans in Davidson County.

Banks and places

The Huntington National Bank holds 23 SBA 7(a) loans and $5.4 million. Pinnacle Bank (TN) holds 12 loans and $6.4 million, U.S. Bank, National Association 7 and $2.5 million, and Byline Bank 5 and $3.2 million. SBA 504 supplies no lender large enough to name; the holder entries imply nothing about practice. Davidson County, TN has 54 loans, Williamson County, TN 22, Rutherford County, TN 11, Wilson County, TN 10 and Robertson County, TN 5.

Two years are missing from the yearly table, FY2017 and FY2020, because Loan Analytics withholds them under its small-count rule. The years that appear run from 12 loans and $7.4 million in FY2018 to 8 in FY2021, 16 loans in FY2022 and 15 loans and $10.6 million in FY2024, then 15 loans and $5.9 million in FY2026. Nashville's totals rest on the 2023 delineation applied to project counties.

Testing a Nashville-area gym

A study should size the member pool in Davidson and Williamson Counties, list the competing clubs and studios, and cost out equipment and floor work against $350,000. Because brands dominate, it should state whether the project is franchised and price the franchisor's fees. Retention and monthly dues must cover the loan payment. The 109 loans in this record settle nothing for a new project, and a request near the $533,600 upper quartile edge needs its own case for the extra cost.