Question 1

What is F45 Training?

Accepted Answer

F45 Training is a global franchised fitness brand specializing in functional 45-minute high-intensity interval training (HIIT) classes. The 'F45' name stands for Functional 45-minute workouts designed around team-based training with constantly varied exercises to maximize results and member accountability. Founded in 2012 in Sydney, Australia, F45 has expanded to over 1,700 studios across 50+ countries, generating $300M in annual revenue. The brand combines proprietary technology, diverse exercise programming, and community-driven fitness to differentiate itself in the competitive boutique fitness market.

Question 2

When was F45 Training founded and where?

Accepted Answer

F45 Training was founded in 2012 in Sydney, Australia, by fitness entrepreneur Rob Deutsch and rugby player investor Adam Gilchrist. The duo created the concept to deliver innovative functional training that builds community through team-based workouts with constantly varied exercises. From this Australian base, F45 grew to 50 studios by 2016 before expanding to the United States and ultimately establishing a presence in over 50 countries worldwide. The founding vision was to create a global fitness community that delivers measurable results in just 45 minutes.

Question 3

Who are the founders of F45 Training?

Accepted Answer

F45 Training was founded by Rob Deutsch, a fitness entrepreneur with a background in the gym industry (Goodlife gyms), and Adam Gilchrist, a rugby player and investor (not the famous Australian cricketer of the same name). Rob Deutsch brought operational and franchise expertise, while Gilchrist provided sports credibility and capital to launch the venture. Together, they developed the Functional 45-minute training concept that would become the foundation for a global fitness franchise empire. The partnership combined business acumen with athletic authenticity, helping establish F45 as a credible boutique fitness brand.

Question 4

What exactly does an F45 workout involve?

Accepted Answer

F45 workouts are 45-minute functional training classes featuring team-based, high-intensity interval training (HIIT) with rotating stations. The program draws from a library of over 4,000 exercises, ensuring that no two workouts are identical and keeping members engaged with constant variety. The team-based format provides built-in accountability and motivation, as participants support each other through challenging intervals of work and recovery. Members use a proprietary TV system that displays real-time exercise instructions and form cues at each station throughout the workout.

Question 5

What are the key features of F45 Training?

Accepted Answer

F45's defining features include a proprietary real-time TV exercise display system that guides members through every movement, ensuring proper form and engagement. The brand offers 4,000+ exercises in a constantly rotating program that eliminates repetition and maintains member motivation through novelty and challenge. The team-based station format creates a community experience with built-in accountability, differentiating F45 from solo cardio alternatives like treadmill-based boutique studios. Additionally, F45 provides a mobile app for workout tracking, progress monitoring, and community engagement, extending the fitness journey beyond the studio.

Question 6

How much does an F45 Training membership cost?

Accepted Answer

F45 memberships are priced at approximately $200 per month, making them competitively positioned within the boutique fitness market. Pricing may vary slightly by location and studio, depending on local market conditions and competition. Most F45 studios offer flexible membership options and introductory rates to attract new members, with the goal of building long-term community engagement. The monthly membership provides unlimited access to classes, use of the proprietary technology and exercise programming, and the supportive team-based training environment.

Question 7

What makes F45 different from competitors like Orangetheory and Barry's Bootcamp?

Accepted Answer

F45's primary competitive advantage is its team-based accountability model and proprietary 4,000+ exercise library that ensures constantly varied workouts, compared to Orangetheory's heart-rate monitoring focus and Barry's Bootcamp's strength-based approach. The F45 real-time TV display system provides clear exercise guidance and visual motivation during group workouts, creating a unique class experience. F45's functional fitness philosophy emphasizes diverse, full-body conditioning through rotating stations, whereas competitors often specialize in single modalities (heart-rate training or strength intervals). This combination of variety, technology, and community-driven atmosphere positions F45 as a comprehensive functional fitness solution rather than a single-discipline boutique offering.

Question 8

What is Mark Wahlberg's involvement with F45 Training?

Accepted Answer

In 2019, Mark Wahlberg made a significant $450 million investment in F45 Training, acquiring a minority stake in the company. Beyond his financial investment, Wahlberg serves as a celebrity ambassador and uses his substantial social media platform (20M+ Instagram followers) to promote F45 and the boutique fitness lifestyle. His involvement provided F45 with mainstream credibility and celebrity endorsement, particularly during the critical U.S. expansion phase. Despite F45's subsequent stock challenges post-IPO, Wahlberg has remained publicly committed to the brand and continues to represent F45 as an investor and ambassador.

Question 9

What happened with F45's IPO and stock performance?

Accepted Answer

F45 Training conducted its initial public offering (IPO) on the New York Stock Exchange under the ticker FXLV in July 2021, raising $325 million at a $1.5 billion valuation. The IPO capitalized on the peak boutique fitness boom during the pandemic when demand for fitness services surged. However, the company faced a dramatic stock collapse following the IPO, declining from approximately $16 per share to $1 per share—a devastating 95% loss that reduced the market cap to approximately $50 million by 2024. The crash was driven by aggressive pre-IPO projections that proved misleading, franchise closures exceeding 200 studios in 2022-2023, challenging unit economics, and broader market normalization as pandemic-driven fitness demand declined.

Question 10

How many F45 studios are there globally?

Accepted Answer

As of 2024, F45 Training operates approximately 1,700 franchised studios across 50+ countries worldwide, representing a significant decline from the peak of 2,000 studios reached around the time of the 2021 IPO. The brand has presence across major markets including Australia, the United States, Canada, and Europe, making it a truly global franchise system. Over 200 studios closed between 2022 and 2023 as franchise operators faced economic challenges related to buildout costs, royalty fees, and rising rent expenses. Despite the contraction, F45 remains one of the largest HIIT franchise networks globally, generating $300 million in annual revenue.

Question 11

Who should consider joining an F45 Training studio?

Accepted Answer

F45 Training is ideal for fitness enthusiasts seeking high-intensity interval training in a supportive, team-based environment with constantly varied workouts that prevent boredom and plateaus. The program appeals to individuals who thrive on community accountability and group motivation, as opposed to solo gym training, and who appreciate structure and guidance through the proprietary real-time exercise display system. Members who want full-body functional fitness training in a time-efficient 45-minute format are well-suited to F45, particularly those with intermediate to advanced fitness levels. The brand attracts active individuals ranging from busy professionals seeking results-driven efficiency to fitness enthusiasts training for overall health and performance.

Question 12

How does the F45 Training app enhance the membership experience?

Accepted Answer

The F45 mobile app serves as a companion to studio workouts, allowing members to track their fitness progress, monitor completed workouts, and view performance metrics over time. The app enables users to schedule and book classes in advance, manage their membership account, and stay connected to the broader F45 community through social and motivational features. Real-time notifications help members stay engaged with studio updates, promotional offers, and class availability. The app complements the in-studio technology experience, extending accountability and motivation beyond the 45-minute workout.

Question 13

What are the franchise costs for opening an F45 studio?

Accepted Answer

Opening an F45 franchise requires an initial franchise fee of approximately $60,000, plus buildout and equipment costs of around $250,000, typically resulting in total startup investments ranging from $300,000-$400,000. The franchise model also includes an ongoing 8% royalty fee calculated on gross studio revenue, which provides franchisees access to the proprietary technology, exercise programming, and corporate support. Additional costs include rent for approximately 1,500 square feet of studio space, staffing, and operational expenses, which can be substantial in competitive urban markets. Despite the established franchise format and brand recognition, many franchise operators have faced profitability challenges due to rising rent costs, competitive market saturation, and variable local membership demand.

Question 14

How does the pandemic impact F45's growth trajectory?

Accepted Answer

The COVID-19 pandemic initially provided significant growth momentum for F45, as the brand rapidly adapted by launching F45 TV streaming virtual classes and organizing outdoor workouts in parking lots to serve members during studio closures. This innovation and agility helped F45 benefit from the massive surge in boutique fitness demand during 2020-2021, contributing to the optimistic valuation and IPO timing in July 2021. However, as the pandemic normalized and members returned to gyms and other fitness options, the demand growth reversed, and many franchisees struggled with increased operational costs and competition. The post-pandemic period revealed that much of the growth was temporary pandemic-driven demand rather than sustainable long-term fitness trends, contributing significantly to the subsequent stock decline and studio closures.

Question 15

What is the competitive landscape for F45 Training?

Accepted Answer

F45 Training operates in an increasingly crowded boutique fitness market competing against established brands like Orangetheory Fitness (valued at $1.5 billion), Barry's Bootcamp, and numerous other specialized fitness concepts. Orangetheory focuses on personalized heart-rate monitoring and performance data, while Barry's emphasizes high-intensity strength intervals, each offering distinct value propositions that appeal to different member preferences. The boutique fitness market has experienced oversaturation in major metropolitan areas, leading to increased member acquisition costs and pressure on studio profitability. F45's team-based, constantly varied workout approach with proprietary technology represents its primary differentiation, though success depends on strong brand awareness, member retention, and managing franchise economics in competitive markets.

F45 Training

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Frequently Asked Questions

What is F45 Training?

When was F45 Training founded and where?

Who are the founders of F45 Training?

What exactly does an F45 workout involve?

What are the key features of F45 Training?

How much does an F45 Training membership cost?

What makes F45 different from competitors like Orangetheory and Barry's Bootcamp?

What is Mark Wahlberg's involvement with F45 Training?

What happened with F45's IPO and stock performance?

How many F45 studios are there globally?

Who should consider joining an F45 Training studio?

How does the F45 Training app enhance the membership experience?

What are the franchise costs for opening an F45 studio?

How does the pandemic impact F45's growth trajectory?

What is the competitive landscape for F45 Training?

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