Fitness franchisor F45 Training (F45) is partnering with Swoop Funding (Swoop) a platform that offers small- and medium-sized businesses financing options.
Through this partnership, new and existing F45 franchise owners will have access to Swoop’s network of direct lenders that have been pre-selected to provide financing solutions to franchisees. The partnership will first launch in Canada, Ireland, the United Kingdom, and Australia.
“We are excited to announce our partnership with Swoop, which will help franchisees obtain the necessary funding 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. “It is our mission 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 run successful fitness studio businesses.”
According to a media release, the partnership with Swoop eases the burden of securing financing solutions for new and existing F45 franchisees. Swoop has access to a wide network of lenders–from traditional banks to specialty lenders in the franchise financing space–which can provide offers that are not otherwise available to franchisees. Moreover, F45 has worked closely with Swoop in developing the partnership to identify lenders which understand the company’s franchisees’ objectives and can serve as value-added partners as they seek to grow their businesses.
“Looking after the financial health of a business is a full-time job, and many small enterprises do not have the bandwidth necessary to gain and retain expert knowledge in the finance market,” said Andrea Reynolds, founder and CEO of Swoop. “This partnership with F45 will enable 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.”