FS8 franchise unit economics
FS8 franchisees run studios that sell memberships to low-impact group classes combining Pilates, yoga and toning on reformers.
FS8 franchise at a glance
FS8’s Item 19 reports annual and monthly Gross Sales for 7 franchised studios open at least 12 months, March 2025 to February 2026, in thirds, and no costs or profit.
FS8 franchised studios open at least 12 months averaged $508,660 of Gross Sales in the 12 months to February 28, 2026, with a median of $388,541, according to Item 19 of FS8’s 2026 FDD, issued 1 April 2026. The 7 in that group are 18%* of FS8’s 39 franchised studios. Fees paid to FS8 come to about 16.31%* of sales.
- An FS8 studio costs $349,300 to $840,700 to open, including the $60,000 establishment fee and the $110,000 Equipment Pack, according to the 2026 FDD.
- The FS8 Item 7 total includes $40,000 to $67,000 of optional Recovery Amenities, and without them the FS8 range is $309,300 to $773,700*.
- FS8 charges a royalty of 7% of Gross Sales, a Brand Fund contribution of the greater of 2% or $200 a month, a $2,500 monthly Marketing Fee and a $500 monthly Technology Service Fee.
- The top two FS8 studios averaged $847,714 and the bottom three $326,985 over the same 12 months.
- Fees paid to FS8 come to about 16.31%* of the $508,660 average, including the Marketing Fee that FS8 spends on the studio’s local advertising.
- FS8 had 29 franchised studios and 1 company-owned studio at the end of 2025, up from none at the start of 2023, with 88 signed franchise agreements for studios not yet open.
These figures come from FS8's 2026 Franchise Disclosure Document, as the brand reported them, and were read by Averan Advisors. The $309,300 to $773,700 range and the 16.31% are Averan calculations: the Item 7 totals less the optional Recovery Amenities line, and the fees in the Brand charges table divided by the $508,660 average.
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Talk to Averan → Move your books and accounting to Averan →- Seven FS8 studios averaged $508,660 of Gross Sales in the 12 months to February 28, 2026, and the median was $388,541. Two of the 7 FS8 studios, 28.6%, were above the average. The FS8 average is $120,119* above the median.
- The highest FS8 studio had $1,152,971 of Gross Sales and the lowest $292,232. The highest FS8 studio sold 3.9 times* as much as the lowest. The top two FS8 studios averaged 2.6 times* the bottom three.
- Fees paid to FS8 come to 16.31%* of the $508,660 average. The FS8 royalty and Brand Fund take 9% of Gross Sales, and the $2,500 Marketing Fee alone is 5.90%* of the FS8 average.
- FS8 receives $224,100 to $253,700 of the cost to open. That is 64%* of the FS8 low estimate of $349,300, most of it the $60,000 establishment fee and the $110,000 Equipment Pack.
- FS8 grew from 5 franchised studios at the start of 2025 to 29 at the end. FS8 had 88 signed franchise agreements for studios not yet open at December 31, 2025, and projects 58 franchised openings in the next year.
Gross Sales
How much does an FS8 franchise make?
| Group | Studios | Average | Median | Highest | Lowest | Above average |
|---|---|---|---|---|---|---|
| Top third | 2 | $847,714 | $847,714 | $1,152,971 | $542,456 | 1 (50.0%) |
| Middle third | 2 | $442,119 | $442,119 | $495,696 | $388,541 | 1 (50.0%) |
| Bottom third | 3 | $326,985 | $338,167 | $350,556 | $292,232 | 2 (66.7%) |
| All reporting studios | 7 | $508,660 | $388,541 | $1,152,971 | $292,232 | 2 (28.6%) |
Figures as filed. FS8 compiled Gross Sales from studio point-of-sale reports and does not audit them. Item 19 left out 32 of the 39 FS8 franchised studios because they were not open for the full 12 months before or during the reporting period.
Seven FS8 franchised studios averaged $508,660 of Gross Sales from March 2025 to February 2026, at a median of $388,541. Two of the 7 FS8 studios, 28.6%, were above the average. The FS8 studios ranged from $292,232 to $1,152,971.
The two FS8 studios in the top third averaged $847,714. The three FS8 studios in the bottom third averaged $326,985, so the FS8 top third averaged 2.6 times* the bottom third. The two FS8 middle-third studios averaged $442,119.
The 7 FS8 studios are 18%* of the 39 franchised FS8 studios open at February 28, 2026. FS8 counted only studios open for at least 12 months before March 1, 2025, and Item 19 states that 32 FS8 studios were left out for that reason.
FS8 reports no costs or profit. The FS8 Item 19 states that the figures do not reflect cost of sales, operating expenses, occupancy or other costs, and that FS8 franchisees are not required to report them.
Monthly sales
FS8 monthly Gross Sales
| Group | Studios | Average | Median | Highest | Lowest |
|---|---|---|---|---|---|
| Top third | 2 | $70,643 | $69,037 | $112,613 | $40,613 |
| Middle third | 2 | $36,843 | $36,465 | $47,179 | $29,827 |
| Bottom third | 3 | $27,249 | $27,974 | $34,356 | $18,248 |
| All reporting studios | 7 | $42,388 | $32,938 | $112,613 | $18,248 |
Figures as filed. FS8 states that average monthly Gross Sales is average annual Gross Sales divided by 12.
The 7 FS8 studios averaged $42,388 of Gross Sales a month, at a median of $32,938. The FS8 monthly figures ranged from $18,248 to $112,613.
FS8 requires at least 75 Foundation Memberships before a studio opens. FS8 Item 1 states that the Foundation Membership number is not a representation of the sales a FS8 studio will reach, and FS8 may raise or lower it.
FS8 studios use reformers. The indicative FS8 Equipment Pack lists 18 reformers, and the FS8 financial statements describe the workout as a remix of Pilates, yoga and tone.
Highest and lowest
FS8 highest and lowest studios
| Group | Highest | Lowest | Average | Average against all 7 |
|---|---|---|---|---|
| Top third | $1,152,971 | $542,456 | $847,714 | 1.67 times* |
| Middle third | $495,696 | $388,541 | $442,119 | 0.87 times* |
| Bottom third | $350,556 | $292,232 | $326,985 | 0.64 times* |
The first three columns are as filed. The last column divides each FS8 group average by the $508,660 average of all 7 studios.
The highest FS8 studio had $1,152,971 of Gross Sales and the lowest had $292,232. The highest FS8 studio sold 3.9 times* as much as the lowest.
The lowest FS8 studio in the top third had $542,456. That FS8 figure is above the $508,660 average of all 7 FS8 studios, and the other 5 FS8 studios were below the average.
FS8 can require a lower-selling studio to join a promotional program. From six months after opening, FS8 may require a studio whose Gross Sales are below 70% of the average of FS8 franchisees open at least 12 months to pay for special promotional programs, up to the amount of the monthly royalty.
Brand charges
Brand charges
| Charge | Rate in the FDD | At $508,660 |
|---|---|---|
| Royalty Fee | 7% of Gross Sales | $35,606* |
| Brand Fund | Greater of 2% of Gross Sales or $200 a month | $10,173* |
| Marketing Fee | $2,500 a month, used by FS8 or its designee for the studio’s local advertising | $30,000* |
| Technology Service Fee | Currently $500 a month | $6,000* |
| Annual Conference | $600 a ticket, at least two tickets, billed whether or not anyone attends | $1,200* |
| Paid to the franchisor | $82,979 (16.31%)* |
Rates as filed. The dollar column applies them to the FS8 average of the 7 reporting studios. Merchandise for resale of at least $1,500 every three months, $6,000* a year, is a purchase of goods from FS8 and is left out. Without the Marketing Fee, FS8 fees come to $52,979*, or 10.42%*.
The FS8 royalty is 7% of Gross Sales. FS8 may raise the royalty from five years after opening, up to the year-over-year rise in the U.S. Consumer Price Index. At the $508,660 average the FS8 royalty is $35,606* a year.
The FS8 Brand Fund contribution is the greater of 2% of Gross Sales or $200 a month. The $200 FS8 minimum applies below $120,000* of yearly Gross Sales.
The FS8 Marketing Fee is $2,500 a month, paid to FS8. FS8 or a party it designates spends the Marketing Fee on local advertising for the studio. If FS8 waives the fee, the FS8 franchisee must spend at least $2,500 a month on local advertising.
FS8 charges a transfer fee of 25% of the then-current establishment fee plus costs. The FS8 renewal fee is the greater of $5,000 or 10% of the then-current establishment fee.
Cost to open
Cost to open
| Line | Low | High |
|---|---|---|
| Establishment fee | $60,000 | $60,000 |
| Document preparation fee | $2,500 | $2,500 |
| Equipment Pack | $110,000 | $110,000 |
| Equipment Pack shipping, taxes and duties | $11,000 | $27,000 |
| Induction Seminar | $1,500 | $1,500 |
| Head Trainer induction | $600 | $600 |
| Travel and living during training | $4,500 | $9,000 |
| Real property | $5,000 | $25,000 |
| Architectural design, engineering and permit documents | $10,000 | $20,000 |
| Leasehold improvements | $1,000 | $350,000 |
| Utility deposits | $1,000 | $2,000 |
| Exterior and interior signage | $5,000 | $10,000 |
| Furniture, fixtures and other equipment | $4,000 | $10,000 |
| Office equipment and supplies | $1,000 | $3,000 |
| Computer system | $1,000 | $2,000 |
| Business licenses and permits | $1,000 | $3,000 |
| Professional services | $1,000 | $5,000 |
| Insurance | $1,000 | $4,000 |
| Grand opening | $25,000 | $25,000 |
| Music licenses | $1,700 | $2,000 |
| AED | $1,500 | $2,100 |
| Optional Recovery Amenities | $40,000 | $67,000 |
| Additional funds, 3 months | $60,000 | $100,000 |
| Total | $349,300 | $840,700 |
Figures as filed. The FS8 totals include the optional Recovery Amenities line, and FS8 states that the line is $0 for a studio without them. The FS8 estimate assumes a leased space of 2,500 to 2,800 square feet and excludes buying real estate.
Discounts available
- FS8 may discount the $60,000 establishment fee by up to 50% for certain approved US military veterans.
- FS8 gives 50% off the establishment fee to a buyer of two or more studios from FS8 or an affiliated brand.
- FS8 takes $10,000 off the $110,000 Equipment Pack Fee for a buyer of two or more studios from FS8 or an affiliated brand.
- FS8 collected establishment fees ranging from $10,000 to $60,000 in 2025.
From Item 5 of the FS8 2026 FDD. The costs on this page use the full initial franchise fee for one unit, before any discount.
One FS8 studio costs $349,300 to $840,700 to open. The FS8 cover states that $224,100 to $253,700 of that is paid to the franchisor or its affiliates. Without the optional Recovery Amenities, the FS8 range is $309,300 to $773,700*.
The FS8 leasehold improvements line runs from $1,000 to $350,000. The FS8 low end assumes the landlord covers nearly all hard construction costs, and the FS8 high end assumes little or no tenant improvement allowance.
FS8 additional funds of $60,000 to $100,000 cover the first three months. FS8 states that payroll is the largest part of the additional funds, and the FS8 estimate excludes rent.
FS8 charges a $60,000 establishment fee for each additional studio under a multiple-studio franchise agreement. FS8 states that the cost of each additional studio is similar to the first, less the document preparation fee.
FS8 collected establishment fees of $10,000 to $60,000 in 2025. Several state addenda to the FS8 FDD defer the initial franchise fee until the studio opens.
Locations
Locations, 2023 to 2025
| Year | Franchised, start | Opened | Closed or terminated | Franchised, end | Company-owned, end | All studios, end |
|---|---|---|---|---|---|---|
| 2023 | 0 | 3 | 0 | 3 | 0 | 3 |
| 2024 | 3 | 2 | 0 | 5 | 1 | 6 |
| 2025 | 5 | 24 | 0 | 29 | 1 | 30 |
Figures as filed. FS8 reports no transfers, terminations, non-renewals, reacquisitions or other closures from 2023 to 2025. At December 31, 2025 FS8 had 88 signed franchise agreements for studios not yet open and projected 58 new franchised studios in the next year.
FS8 opened 24 franchised studios in 2025, up from 5 at the start of the year to 29 at the end. Florida had 8 FS8 franchised studios at the end of 2025 and Texas 4.
FS8 had 88 signed franchise agreements for studios not yet open at December 31, 2025. Texas had 18 of the FS8 signed and unopened studios, and California and New York had 8 each.
FS8 has operated its own studio in Texas since 2024. FS8 has offered franchises in the United States since June 2021.
Franchisor finances
The franchisor’s financial condition
| Line | 2025 | 2024 |
|---|---|---|
| Total revenues | $4,762,236 | $496,699 |
| Equipment revenue | $3,818,823 | $202,793 |
| Net loss | $224,537 | $567,220 |
| Stockholder’s deficit at year end | $2,833,531 | $2,608,994 |
Source: FS8 FDD, Exhibit C, audited statements for the years ended December 31, 2025 and 2024.
The FS8 FDD lists the franchisor’s financial condition as a special risk. The FS8 state cover page says the franchisor’s financial condition, as reflected in its financial statements, calls into question its ability to provide services and support.
FS8 reported a net loss of $224,537 for 2025 and a stockholder’s deficit of $2,833,531 at year end. Equipment sales made up $3,818,823 of the $4,762,236 of FS8 revenue in 2025.
The Illinois addendum to the FS8 FDD defers the initial franchise fee until the studio is open. FS8 states that Illinois requires the deferral based on the FS8 financial statements, and the Maryland addendum defers all FS8 initial fees until pre-opening obligations are complete.
Questions we get asked
Questions owners ask
How much does it cost to open an FS8 franchise?
The 2026 FS8 FDD estimates $349,300 to $840,700 for one studio. That FS8 range includes the $60,000 establishment fee, the $110,000 Equipment Pack and $40,000 to $67,000 of optional Recovery Amenities. Without the Recovery Amenities the FS8 range is $309,300 to $773,700*.
What fees does FS8 charge?
FS8 charges a 7% royalty, a Brand Fund contribution of the greater of 2% or $200 a month, a $2,500 monthly Marketing Fee and a $500 monthly Technology Service Fee. On Averan’s reading, fees paid to FS8 come to 16.31%* of the $508,660 average.
How much does an FS8 franchise make?
Item 19 reports that 7 FS8 franchised studios open at least 12 months averaged $508,660 of Gross Sales from March 2025 to February 2026, at a median of $388,541. The FS8 studios ranged from $292,232 to $1,152,971.
Does FS8 report franchisee costs or profit?
FS8’s Item 19 gives no figure for franchisee costs or profit. FS8 states that its franchisees are not required to report operating costs.
How many FS8 locations are there?
FS8 had 29 franchised studios and 1 company-owned studio at the end of 2025, and 39 franchised studios at February 28, 2026. FS8 had 88 signed franchise agreements for studios not yet open at December 31, 2025.
How long does it take to open an FS8 studio?
An FS8 franchisee must sign a lease within 6 months of signing the franchise agreement and open within 12 months. FS8 requires at least 75 Foundation Memberships sold before the studio opens.
Questions worth putting to FS8
These are questions the filing leaves open. An owner or a buyer can put them to the franchisor directly.
- Is the revenue in Item 19 gross sales or collected revenue, and how many locations sit below the average?
- What separates the highest-selling locations from the lowest: territory, years open, staffing, or the owner?
- How long does a new location take to reach the average you publish, and what does the build-up look like month by month?
- At what level of sales do the minimum charges stop applying and the percentage take over?
- How many FS8 locations closed, were sold, or changed hands last year, and why?
Run your own numbers.
The Franchise Numbers Check runs the same checks on your own numbers. It scores where you stand and compares you with Item 19 of your brand’s FDD. It works out what one location earns and spends, and builds a 13-week cash forecast. It also checks whether you are ready to open another one. It is free and it runs in your browser.
Launch the diagnostic →Reporting for a FS8 owner
We review your unit economics and cash forecast and build your monthly reporting around the figures on this page.
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Other brands in the Pilates, Barre And Yoga guide:
Questions owners ask next
The figures above raise these, and each one is answered on its own page.
- At what level of sales does a minimum fee stop costing me more than the percentage?It works out the sales level where a minimum fee stops applying.
- How much cash do I fund before a new location covers its own costs?It builds a 13-week forecast for the months before break-even.
- What does this location earn on the money I put into it?It works out the payback period and cash-on-cash return for one unit.
- How much of Item 19 can I rely on?It explains what an Item 19 financial performance representation tells you and what it leaves out.
Where these figures come from
Every figure here comes from FS8, Inc.’s 2026 FDD and is unaudited by us. We are unaffiliated with the brand. Calculations of our own are labeled where they appear. The figures describe past performance at other businesses and are not a projection of yours. This page is an educational summary. It is not an offer to sell a franchise, and it is not financial, legal or tax advice. FS8 is a trademark of its owner. How Averan reads a Franchise Disclosure Document.
These figures come from the brand's disclosure. They are not a forecast, an offer to sell a franchise or advice. Source: FS8, Inc., 2026 Franchise Disclosure Document, issued 1 April 2026.