Franchise Diligence · Free snapshot

SPENGA Franchise Review (2026)

Cost, Item 19 earnings & fees — from the actual FDD

A private-equity-grade read of the SPENGA Franchise Disclosure Document — the real cost to open, the earnings picture, and the risks a salesperson has no incentive to mention.

Fitness & WellnessGym/studio

Item 19 · average monthly revenue

$51,171/mo

Franchisor-disclosed across 9 reporting units. This is revenue— the full report models what you'd actually keep after every fee.

Disclosed owner-side figure: $29,291/mo (company-owned outlets, not franchisees)

Diligence risk level

High

2 high-severity operational tripwires disclosed — see the tripwires section.

Does it fit your capital?

How much can you put toward opening?

The cash you have for the build-out — the one number the whole deal is measured against.

Estimated cost to open (Item 7)your capital ▎

$552,267$789,595

Capital gap to top of range$539,595Small gap — bridgeable

At a glance

System units

+1 / −6 last yr

Earnings (Item 19)

Disclosed

11 cohorts

Royalty

ongoing royalty

What the sales deck won't lead with

Descriptive, FDD-cited disclosures — read them before discovery day.

▲The FDD discloses: The FDD's Special Risks section explicitly states the franchisor's financial condition calls into question its ability to provide services and support; the balance sheet shows a members' deficit of $424,117 and an SBA EIDL loan of $485,252.(Special Risks, p.v; Item 21 financial statements)

▲The FDD discloses: The franchised outlet count has declined from 66 to 44 over three years (2023-2025), with net losses of 9, 8, and 5 units respectively and only 1 new opening in 2025.(Item 20, p.71)

▲The FDD discloses: Franchisees must pay a minimum royalty of $1,000/month and local marketing of $3,000-$4,000/month regardless of sales levels; failure may result in termination.(Special Risks, p.v; Item 6, pp.7-8)

Every fee, tripwire and territory term is in the full report

The full report opens

What you'd actually keep — that revenue modeled to profit after royalty, fees and debt service
The full Item 19 breakdown — 11 disclosed cohorts
Financial-health severity grade (Item 21 audit)
Every fee and hidden cost, with page cites
Operational tripwires and territory terms

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Informational only — not legal, financial, or investment advice. Figures are AI-extracted from the SPENGA FDD and may contain errors; verify every number against the source document and consult a qualified professional before deciding. Your uploads are processed to generate reports, not stored or sold.

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