Fitness franchisor F45 Training (F45) is partnering with Swoop Funding (Swoop), a platform that provides financing options for small and medium businesses.
Through this partnership, new and existing F45 franchise owners will have access to Swoop’s network of direct lenders who have been pre-screened to provide financing solutions to franchisees. The partnership will first launch in Canada, Ireland, the UK and Australia.
“We are thrilled to announce our partnership with Swoop, which will help franchisees secure the financing needed to open their own studios, as well as enable existing franchisees to expand their franchise network with us,” said Adam J. Gilchrist, President/CEO/President of F45. “Our mission is to ensure the long-term success of our franchisees, and we are constantly looking for solutions that enable our franchise partners to successfully start and manage fitness studio businesses.”
According to a press release, the partnership with Swoop eases the burden of securing financing solutions for new and existing F45 franchisees. Swoop has access to an extensive network of lenders – from traditional banks to lenders specializing in franchise financing – who can offer deals not otherwise available to franchisees. Additionally, F45 has worked closely with Swoop to develop the partnership to identify lenders who understand the franchisee’s goals for the business and can serve as value-added partners as they seek to grow their business.
“Taking care of a company’s financial health is a full-time job, and many small businesses don’t have the bandwidth to acquire and maintain specialized financial market knowledge,” said Andrea Reynolds, founder and CEO of Swoop. “This partnership with F45 will allow more people to enter the exciting world of owning their own business without being held back by inexperience in a complex market. Swoop makes financial institutions work for businesses, not the other way around.