How to Finance a Bunda Franchise: Stair and Strength Studio Costs
By Marc Cornella
A Bunda franchise loan funds a boutique studio built around an unusual class format: half of each workout happens on stair-climbing machines and half on strength training aimed at the lower body. That split means a studio has to buy and maintain two very different sets of equipment, and the financing plan has to account for both.
This article covers what to look for in the Franchise Disclosure Document (FDD), how the brand’s SBA Franchise Directory listing and its two directory notes affect an SBA loan, and how buyers finance a first studio, an existing studio or several studios.
US Professional Funding is not affiliated with, sponsored by or endorsed by Bunda; the name is used only to describe the business. Figures in the franchisor’s disclosure document can change, loan programs and terms vary by lender and borrower, and every loan is subject to approval. Nothing here is legal, tax or investment advice; review the current FDD and franchise agreement with a franchise attorney and an accountant before you sign.
Bunda Franchise Loan at a Glance
- Concept: a group fitness studio that bills itself as the first studio pairing stair-climbing cardio with strength training, with a strong focus on the glutes and lower body.
- Class format: steady-state cardio on stair machines combined with progressive-overload strength work, taught by personal trainers.
- Markets: the brand’s own site lists studios in several metro areas, including Los Angeles, San Diego, Chicago, Dallas and Miami.
- Fees, royalty and investment range: not verified from the franchisor’s own published materials for this article; Items 5, 6 and 7 of the current FDD set them out.
- Net worth and liquidity: not verified; ask the franchise development team for current requirements.
- SBA Franchise Directory: listed as “Bunda” under code S7675, with two notes covering the lease documents and the franchisor’s buy-out option.
What Is Bunda?
Bunda, styled BÜNDA by the company, is a boutique fitness brand operated by Bünda, Inc. It positions its classes as science-backed workouts created by fitness professionals. Members book and pay for classes through the brand’s app.
The format. Each class alternates between two zones. One side of the room holds a row of stair-climbing machines for steady cardio; the other holds benches, weights and other strength equipment for lower-body work with progressively heavier loads.
How lenders see the brand. A focused boutique concept does not offer the long system-wide history of a national gym chain, so lenders lean on the buyer’s finances, the local market, the lease and the membership projections. The SBA Franchise Directory listing helps but does not replace a strong application.
Bunda Franchise Costs
Verified fee and investment figures were not available from the franchisor’s own published materials when this article was written, so use the current FDD for exact numbers. Here is what a lender reviewing a Bunda franchise loan expects to see.
Initial franchise fee. Item 5 lists the fee, when it is due and any reduced fees for additional studios under a development agreement.
Lease and build-out. Studios lease retail or mixed-use space. The build-out usually includes flooring that can take heavy machines and dropped weights, reinforced electrical service for powered stair climbers, lighting, sound, ventilation, a front desk, restrooms and locker or cubby areas. Landlord allowances can reduce what you borrow.
Equipment. Two equipment packages, not one: the stair-climbing machines and the strength floor. Item 8 of the FDD explains which items must come from approved or designated sources.
Opening costs and working capital. Presale marketing, trainer hiring and training, and enough money to carry the studio until memberships cover its expenses all belong in the plan.
Total investment. Item 7 of the current FDD gives the low and high estimates. When you read it, look for these line items:
- Initial franchise fee
- Leasehold improvements, flooring and electrical work
- Stair-climbing machines
- Strength equipment, benches and accessories
- Signage, interior branding and sound system
- Computer, booking and point-of-sale technology
- Presale and grand opening marketing
- Deposits, licenses, insurance and training travel
- Additional funds for the initial operating period
Ongoing Fees and How They Affect Your Loan
Royalty. Item 6 sets the royalty and how it is calculated. Royalties come out of revenue before debt service, so they directly reduce the cash available to repay the loan.
Marketing. Budget for any brand fund contribution plus local advertising, which runs heaviest during presale.
Equipment upkeep. Powered stair climbers run through back-to-back classes and need regular service. Ask what maintenance and replacement schedule the franchisor expects and keep a reserve for it.
How lenders factor these costs in. Underwriters take projected membership revenue, subtract rent, trainer payroll, royalties, marketing and maintenance, and test whether the remainder covers the loan payment with room to spare. A conservative ramp makes that test more believable.
Franchisor Requirements for New Owners
The franchisor’s minimum net worth and liquid capital requirements were not verified from its own materials for this article. Ask the development team for the current figures and confirm them in the FDD.
Expect an application, a financial review, calls with current owners and a waiting period to review the FDD before signing. Both the franchisor and a lender will look for liquid capital beyond the equity injection, management or sales experience and a realistic plan to recruit certified personal trainers.
Ways to Own a Bunda Studio
A new studio. A start-up is underwritten on projections, the buyer’s resources and the lease, so liquidity and a detailed plan carry extra weight. Our page on fitness center start-up financing covers the basics.
Buying an existing studio. A resale gives a lender actual membership history. Price, remaining lease term, machine condition and the franchisor’s transfer terms all shape the loan. Read about buying a boutique fitness studio before making an offer.
Financing Options for a Bunda Franchise
SBA 7(a) loans. Because the brand is on the SBA Franchise Directory, the SBA 7(a) loan program is usually the first option buyers explore. A single 7(a) loan can combine the franchise fee, build-out, both equipment packages and working capital.
SBA 504 loans. An SBA 504 loan is built for owner-occupied real estate and long-lived fixed assets. It only fits if you are buying the building that houses the studio, which is uncommon for boutique fitness space.
Conventional term loans. A conventional business loan can suit borrowers with strong credit and collateral, especially owners adding a second studio.
Equipment financing. The stair climbers, strength equipment, audio system and front-desk technology can often be financed or leased separately, which preserves cash for the build-out and opening marketing. See our fitness equipment financing and leasing options.
Working capital and lines of credit. A studio pays rent, trainers and marketing before the first class runs, and attendance can dip in summer and around holidays. A reserve or line of credit helps cover those gaps. Learn more about fitness center working capital.
Seller financing on resales. When buying an existing studio, the seller may agree to carry part of the price. A seller note is typically subordinate to the senior loan, and SBA rules may limit how it is structured or whether it counts toward the equity injection.
SBA Loans for Bunda Franchisees
SBA lenders generally require a franchise brand to appear on the SBA Franchise Directory before they can make an SBA-guaranteed loan to one of its franchisees. A listing means the brand’s franchise documents have been reviewed for SBA eligibility; it does not approve any individual borrower.
The listing. Bunda appears on the SBA Franchise Directory under code S7675. Give that code to your lender at the start.
Directory note one: lease documents. When the real estate where the studio is located will secure the SBA-guaranteed loan, the franchisor’s Lease Addendum and Agreement to Lease may not be executed. Those documents are designed for leased space; if you or an affiliate own the building and pledge it as collateral, they should not be signed. Tell your lender early whether the studio will be leased or owned.
Directory note two: the buy-out option. The franchisor may only enforce its Buy Out Option when the franchise agreement is terminated or expires. In other words, the franchisor cannot force a purchase of your studio in the middle of an ongoing franchise relationship, which protects the business and collateral an SBA lender is relying on.
Program size. The SBA 7(a) program maximum is currently $5 million, though program rules can change. Our article on SBA loans for gyms explains how lenders approach fitness concepts more broadly.
Application tips. A Bunda franchise loan request moves faster with a near-final lease, build-out and equipment quotes and monthly projections.
How Lenders Evaluate a Bunda Deal
Personal credit and financial history. Expect a review of credit, tax returns and a personal financial statement, plus a personal guarantee.
Net worth and liquidity. Lenders want to see the equity injection plus a cushion that remains after closing to carry the studio through ramp-up.
Industry and management experience. Experience in fitness sales, studio management or leading a team helps. Without it, show how you will hire a strong head trainer or studio manager.
Business plan and projections. Base the plan on class capacity, which is set by the number of stair climbers and strength stations, then layer in the class schedule, membership mix and a conservative ramp.
The FDD and franchise agreement. Underwriters read Items 5, 6, 7 and 17 closely, including term, renewal and transfer rules, along with the buy-out provisions noted on the directory. Our article on how lenders read a Franchise Disclosure Document covers the sections that matter most.
Site and lease. Lenders look for a lease that runs at least as long as the loan, rent that the projections can carry and a trade area that matches the brand’s member profile.
Historical financials for resales. When buying an existing studio, provide several years of profit and loss statements, membership reports and tax returns.
Two Equipment Zones: Why the Format Shapes the Loan
Most boutique studios revolve around one type of equipment; a Bunda studio needs two. The stair-climbing side uses powered commercial machines that need dedicated electrical capacity and wear with constant use. The strength side relies on benches, weights and bands that cost less per piece but still need replacing.
For a borrower, that means a larger equipment budget than a mat-based studio, identifiable collateral in the stair climbers and a real maintenance line in the operating budget.
When buying an existing studio, ask for the machines’ service records and find out whether the franchisor expects any equipment refresh at transfer.
Multi-Unit Growth and Development Agreements
The brand has grown by clustering studios within metro areas, which suits owners who want several locations close enough to share trainers and marketing. If you sign a development agreement, it will commit you to opening studios on a set schedule.
Financing a second or third studio. Lenders usually want the first studio stable before funding the next one, and its results become evidence for the new location. Our article on multi-location gym financing explains how lenders view a growing group.
Real-World Scenarios
A former trainer opening a first studio. A certified personal trainer pairs a modest equity injection with an SBA 7(a) loan for the build-out, equipment and working capital, and leans on coaching experience in the business plan.
A professional adding a second studio. An owner whose first studio has stabilized opens another across town, using a conventional term loan for the build-out and separate equipment financing for the stair climbers.
A buyer acquiring an existing studio. A buyer purchases a studio from an owner who is relocating. The lender reviews membership history and the remaining lease, and the seller carries a small note subordinate to the senior loan.
Common Mistakes to Avoid
- Budgeting for one set of equipment when the format requires two
- Overlooking the electrical and flooring work powered machines require
- Signing a lease shorter than the loan term
- Ignoring the SBA directory notes when the studio’s real estate secures the loan
- Leaving no reserve for machine service and replacement
For more pitfalls, read the fitness center loan mistakes owners make most often.
Next Steps to Finance Your Bunda Franchise
Step 1: Request the current FDD. Review Items 5, 6, 7, 8, 17 and 19 with a franchise attorney and accountant.
Step 2: Confirm the franchisor’s requirements. Ask the development team for current net worth, liquidity and development expectations.
Step 3: Estimate your budget. Use the Item 7 categories and our SBA loan calculator for early payment estimates. Results are for planning only and are not an offer or approval.
Step 4: Secure a site. Work with the franchisor on site approval and negotiate a lease that matches the loan term.
Step 5: Gather bids and build projections. Collect build-out and equipment quotes for both zones, then model class capacity, trainer payroll and a conservative ramp.
Step 6: Apply for financing. Submit your package with the SBA directory code, the FDD, the lease and your personal financial documents.
Bunda Franchise Loan FAQs
How much does it cost to open a Bunda studio?
Item 7 of the current FDD gives the estimated initial investment, covering the franchise fee, build-out, equipment, opening marketing and working capital.
What is the Bunda franchise fee?
Item 5 of the current FDD lists the initial franchise fee and any reduced fees for additional studios.
How much liquid capital do I need?
The franchisor’s requirements were not verified for this article. Ask the development team, and plan for your equity injection plus a working capital reserve.
Can I get an SBA loan for a Bunda franchise?
The brand is on the SBA Franchise Directory under code S7675, so an SBA-backed Bunda franchise loan may be available to qualified borrowers, subject to approval.
What do the SBA directory notes mean for me?
If the studio’s real estate secures the SBA loan, the franchisor’s lease addendum and agreement to lease should not be signed. Separately, the franchisor can only enforce its buy-out option when the franchise agreement ends.
Can I finance the stair machines separately?
Often, yes. Equipment financing or leasing can cover the machines, strength equipment and technology, preserving cash for the build-out.
Can I buy an existing Bunda studio?
Resales may be available, subject to the franchisor’s transfer approval. Lenders will review the studio’s history, lease and equipment.
How long is a Bunda franchise term?
Item 17 of the FDD sets the term, renewal and transfer conditions. Lenders prefer a remaining term at least as long as the loan.
Can a first-time owner get a Bunda franchise loan?
Yes, if the franchisor approves the candidate and the application shows enough liquidity and a capable studio manager or head trainer.
Does Bunda offer financing?
Check Item 10 of the current FDD, which discloses any financing the franchisor offers. Most buyers arrange their own financing.
Final Thoughts
A Bunda studio packs two equipment-heavy zones into one boutique space, so the financing plan must budget for machines, build-out and upkeep. Start with the current FDD, understand both directory notes and keep reserves for the ramp.
US Professional Funding helps franchise buyers and owners finance start-ups, acquisitions, equipment and working capital. Learn more about our franchise financing and fitness center financing solutions.
