The franchisor Fitness F45 Training (F45) joins forces with Swoop financing (Swoop) a platform that offers financing options to small and medium-sized businesses.
Through this partnership, new and existing F45 franchise owners will have access to Swoop’s network of direct lenders who have been prequalified to provide financing solutions to franchisees. The partnership will first be launched in Canada, Ireland, the UK and Australia.
“We are delighted to announce our partnership with Swoop, which will help franchisees obtain the financing necessary to open their own studios, as well as allow existing franchisees to expand their franchise network with us,” said Adam J. Gilchrist , president / CEO / chairman of F45. “Our mission is to ensure the long-term success of our franchisees, and we are constantly looking for solutions that make it easier for our franchise partners to start and manage successful fitness studio businesses. “
According to a press release, the partnership with Swoop alleviates the burden of finding financing solutions for new and existing F45 franchisees. Swoop has access to a large network of lenders, from traditional banks to specialist franchise finance lenders, who can provide offers that would not otherwise be available to franchisees. Additionally, F45 has worked closely with Swoop to develop the partnership to identify lenders who understand the goals of the company’s franchisees and can serve as value-added partners as they seek to grow their businesses.
“Taking care of the financial health of a business is a full-time job, and many small businesses do not have the bandwidth necessary to acquire and maintain specialist knowledge of the financial market,” said Andrea Reynolds, founder and CEO of Swoop. “This partnership with F45 will allow more people to enter the exciting world of running their own businesses without being held back by the inexperience of a complex market. Swoop makes financial institutions work for businesses, not the other way around.