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    Franchise opportunities compared

    BFT Franchise SPV vs ORANGETHEORY

    Reviewed figures from each brand's Franchise Disclosure Document (FDD), side by side. Each figure carries its FDD year and page. This is not a ranking or recommendation, and the two FDDs may cover different years and location groups.

    BFT Franchise SPV2025 FDDORANGETHEORY2026 FDD

    Initial investment · Item 7

    BFT Franchise SPV

    $509,836 – $1,204,045

    2025 FDD · Item 7

    ORANGETHEORY

    $764,577 – $1,104,920

    2026 FDD · Item 7 · PDF p. 24

    Initial franchise fee · Item 5

    BFT Franchise SPV

    Not available

    ORANGETHEORY

    $59,950

    2026 FDD · Item 5 · PDF p. 16

    Royalty · Item 6

    BFT Franchise SPV

    7%

    2025 FDD · Item 6 · PDF p. 21

    ORANGETHEORY

    8% · Percent of Gross Sales; weekly; subject to minimum performance standards and royalty shortfall payments.

    2026 FDD · Item 6 · PDF p. 19

    Before you compare

    • BFT Franchise SPV figures come from its 2025 FDD and ORANGETHEORY figures from its 2026 FDD, so the years differ.
    • BFT Franchise SPV discloses more than one business format, so the investment range spans formats; the full report breaks them out.
    • Item 19 figures cover the location groups each FDD names (BFT Franchise SPV: 31, ORANGETHEORY: 3). Different groups are not directly comparable.

    Financial commitment

    Estimated initial investment (Item 7)

    BFT Franchise SPV

    $509,836 – $1,204,045
    2025 FDD · Item 7

    ORANGETHEORY

    $764,577 – $1,104,920
    Single Studio — TOTAL (excluding real estate purchase costs)
    2026 FDD · Item 7 · PDF p. 24
    Standard initial franchise fee (Item 5)

    BFT Franchise SPV

    Not available
    No single standard fee identified

    ORANGETHEORY

    $59,950
    The fee is non-refundable; the franchisor may decrease it case-by-case, for promotions, or for area development agreements.
    2026 FDD · Item 5 · PDF p. 16
    Royalty (Item 6)

    BFT Franchise SPV

    7%
    Royalty
    2025 FDD · Item 6 · PDF p. 21

    ORANGETHEORY

    8% · Percent of Gross Sales; weekly; subject to minimum performance standards and royalty shortfall payments.
    Royalty Fee
    2026 FDD · Item 6 · PDF p. 19
    Brand / advertising fund (Item 6)

    BFT Franchise SPV

    2%
    Brand Development Fund contribution — 2%
    2025 FDD · Item 6 · PDF p. 21

    ORANGETHEORY

    3% of gross sales; monthly; current rate 3%, may increase to 5%.
    Brand Fund Contributions
    2026 FDD · Item 6 · PDF p. 19

    System scale & health

    Total outlets (Item 20)

    BFT Franchise SPV

    49
    Outlets at end of 2024
    2025 FDD · Item 20 · PDF p. 76

    ORANGETHEORY

    1,224
    Outlets at end of 2025
    2026 FDD · Item 20 · PDF p. 67
    Net outlet change (Item 20)

    BFT Franchise SPV

    +47
    Calculated: 2 at end of 2022 → 49 at end of 2024

    ORANGETHEORY

    −109
    Calculated: 1,333 at end of 2023 → 1,224 at end of 2025
    Outlet exits (Item 20)

    BFT Franchise SPV

    Not available
    No complete exit records for a year

    ORANGETHEORY

    Not available
    No complete exit records for a year
    Franchising since (Item 1)

    BFT Franchise SPV

    Not available
    Not in reviewed records

    ORANGETHEORY

    March 2019 for Studio unit franchises
    2026 FDD · Item 1 · PDF p. 8
    Franchisor founded (Item 1)

    BFT Franchise SPV

    Not available
    Not in reviewed records

    ORANGETHEORY

    Franchisor formed December 10, 2018
    2026 FDD · Item 1 · PDF p. 8

    Financial performance (Item 19), by location group

    BFT Franchise SPV
    Locations counted not stated in the reviewed record — Second quartile of 29 Qualified Studios; U.S. franchise-owned studios open and…
    $387,262
    other 2nd Quartile
    2025 FDD · Item 19 · PDF p. 68
    Locations counted not stated in the reviewed record — 29 Qualified Studios (US franchise-owned), excludes Non-Traditional Sites
    239 members
    other 1st Quartile
    2025 FDD · Item 19 · PDF p. 69
    Locations counted not stated in the reviewed record — 29 Qualified Studios (US franchise-owned), excludes Non-Traditional Sites
    12 studios
    other Total
    2025 FDD · Item 19 · PDF p. 69
    +28 more groups in the full report
    ORANGETHEORY
    Franchised (1,189 locations) — memberships and revenue and other measures
    49 percent
    other Studios at or above average Monthly Member Count
    2026 FDD · Item 19 · PDF p. 66
    Franchised (95 locations) — other measures
    95 studios
    other Permanently closed franchised Studios excluded
    2026 FDD · Item 19 · PDF p. 65
    Franchised (1,189 locations) — memberships and revenue
    $855,427
    median Total Gross Sales
    2026 FDD · Item 19 · PDF p. 65

    Item 19 groups are shown separately and never combined. Revenue or sales figures are not profit. Net outlet change and turnover are Franopolis calculations from the disclosed counts; turnover is a count-based rate, not a measure of owner earnings.

    BFT Franchise SPV vs ORANGETHEORY: common questions

    Which costs less to open, BFT Franchise SPV or ORANGETHEORY?
    BFT Franchise SPV: $509,836 – $1,204,045 (2025 FDD · Item 7); ORANGETHEORY: $764,577 – $1,104,920 (2026 FDD · Item 7 · PDF p. 24). These are each franchisor's Item 7 estimated initial investment. The low end of the disclosed estimate is lower for BFT Franchise SPV. At least one range spans several business formats. Estimates are not quotes, and the FDD years may differ.
    How do BFT Franchise SPV and ORANGETHEORY royalties compare?
    BFT Franchise SPV: 7% (2025 FDD · Item 6 · PDF p. 21); ORANGETHEORY: 8% · Percent of Gross Sales; weekly; subject to minimum performance standards and royalty shortfall payments. (2026 FDD · Item 6 · PDF p. 19). Royalties as disclosed in Item 6; other recurring fees are listed separately.
    Which has more locations, BFT Franchise SPV or ORANGETHEORY?
    BFT Franchise SPV: 49 (2025 FDD · Item 20 · PDF p. 76); ORANGETHEORY: 1,224 (2026 FDD · Item 20 · PDF p. 67). Total outlets from Item 20. Outlet counts do not indicate territory availability or franchisee results.
    Do BFT Franchise SPV and ORANGETHEORY disclose financial performance (Item 19)?
    BFT Franchise SPV has reviewed Item 19 figures for 31 location groups; ORANGETHEORY has reviewed Item 19 figures for 3 location groups. Different location groups are not directly comparable, and revenue is not profit.

    Answers restate the reviewed figures above. Not a ranking or recommendation.

    How Franopolis reviews FDD figures

    Keep researching

    Full BFT Franchise SPV report

    Every reviewed fee, Item 19 group, outlet table and territory disclosure

    Full ORANGETHEORY report

    Every reviewed fee, Item 19 group, outlet table and territory disclosure

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    FDD glossary

    Plain-language meaning of each Item