F45 Training vs CLUB PILATES

Club Pilates is the stronger opportunity on every dimension that matters for a software vendor. Budget is the knockout: at nearly $988K AUV, Club Pilates units generate more than double the top-line revenue of F45’s $481K, which directly expands the discretionary technology spend per location. TAM is larger and still growing—1,179 units expanding at 14.6% YoY versus F45’s 708 units shrinking at -6%. That combination means you’re selling into a bigger installed base today while a fresh crop of new franchisees enters the pipeline every quarter, each needing POS, scheduling, and back-office tools from day one.

The only dimension where F45 could tempt you is terrain—a brand in contraction creates desperate owners who may be more willing to rip out legacy systems if you can prove ROI. But that’s a high-churn, low-budget hunting ground. Club Pilates’ approved-supplier procurement model is identical to F45’s, so no structural advantage either way, but the sheer velocity of unit openings gives you a repeatable land-and-expand motion that F45’s negative growth cannot match. You sell into momentum, not into a turnaround.

Verdict: Club Pilates delivers a larger, richer, and expanding addressable market that converts higher-revenue locations into higher-software-spend accounts.