SBA 7(a) Fitness Center Feasibility Study in New Hampshire

New Hampshire gyms: franchise-heavy and small

New Hampshire's fitness center cell counts 87 loans approved between FY2017 and FY2026 under 7(a), with $23.3 million in gross dollars. The state's loan-count rank is 34 for the pairing, while fitness centers come fourth among its 39 financed classes. Median size sets the cell apart: $182,900 is 0.74x the nationwide ratio, and an interquartile range from $50,000 to $375,500, and 43.7% of loans carry a franchise. A typical New Hampshire borrower is opening or buying into a branded gym, with a modest build-out and equipment package.

TD Bank and out-of-state holders

TD Bank, National Association holds 13 of the loans, worth $946,200, a very small average. Newtek Small Business Finance, LLC holds 6, worth $2.1 million, Kennebunk Savings Bank 6, worth $843,000, Primary Bank 5, worth $2.5 million, and Bangor Savings Bank 5, worth $1.3 million. Rockingham County has 35 loans and Hillsborough 31, so the two southern counties hold most of the record, with Belknap at 6, Merrimack at 5 and Cheshire at 4. Volume jumped to 18 loans and $7.5 million in FY2022, after only 2 loans and $337,500 in FY2020.

A floor of 9.7% of New Hampshire fitness approvals dated FY2017 to FY2024 was cancelled before funding, and as many as 12.5% once undisbursed loans are included. The charge-off rate for the funded FY2017 to FY2021 cohort is withheld, because too few loans sit in that cohort to publish a rate responsibly; it should be read as unknown, and not as zero.

Testing a New Hampshire fitness request

Gym economics turn on membership, and a New Hampshire study should test how many members the catchment area can supply at the planned price, how many competing clubs and studios already serve it, and how quickly a new location reaches break-even. With a franchise, the franchisor's disclosed unit results deserve comparison with local conditions and review the brand's required fit-out and fees. Equipment and leasehold improvements will dominate the budget, so a lender will want to see lease terms that outlast the loan and coverage tested through a slow first year. Retention, not sign-up, is the measure to stress. The study should also state the borrower's history in fitness or in managing a staff-led business, because member retention depends on service quality more than on equipment.