Fitness Center Feasibility Study in Oklahoma

Oklahoma fitness: modest loans, a clean closing record

Oklahoma's fitness lending is small and steady. From FY2017 to FY2026 there were 101 SBA approvals worth $30.2 million, never more than 14 in a year, and Oklahoma ranks 33 of 54 among states for the class. Gyms are the 6 of 39 class inside Oklahoma, and the 0.96x location quotient places them at about their national weight. The Oklahoma median loan was $216,000, 0.83x the national fitness median, and loans between the quartiles fell from $94,500 to $400,000. Measured against the Oklahoma all-asset book and fitness lending nationally together, the gym median and both Oklahoma floors stay inside our margin, so the cell is distinguished by its lenders and its franchise share rather than by any single outcome.

Branded concepts take 36.6% of Oklahoma fitness loans. Oklahoma's program split is 91 under 7(a) and just 10 under SBA 504. BancFirst holds 18 Oklahoma gym loans worth $2.7 million and Arvest Bank 10 worth the same $2.7 million, while First United Bank and Trust Company, First Pryority Bank and The Huntington National Bank hold 5 each.

The Oklahoma floors

Oklahoma fitness approvals have closed well. Cancellations from the FY2017 to FY2024 approval years stand at 6.5% at the floor and 6.5% at the ceiling, meaning the Oklahoma loans from that window have all either funded or been cancelled. Credit has been reasonable: of 44 Oklahoma gym loans funded from FY2017 to FY2021, 2.3% have gone to charge-off while the five-year rate stays 0.00%, so the losses on record came after the fifth year. Both are floors on loans still repaying.

What an Oklahoma fitness study must establish

Tulsa and Oklahoma counties dominate: Tulsa holds 32 approvals and Oklahoma County 30, then Cleveland at 14 and Canadian at 6. A study for an Oklahoma club has to measure the population within a short drive, the clubs already competing for it and the price tier the project targets. It should test membership ramp and churn, and price build-out and equipment at current quotes, including the brand's required package where there is one. Since the losses recorded so far came late, the payment test should hold at a mature membership level that allows for attrition, not only at peak sign-ups. Should the Oklahoma loan include real estate, its appraisal must value the space for uses beyond a gym.