What I like about Alloy is that they’re doing something most fitness franchises won't touch, which is building a business around clients over 50.
That might seem like a specific niche, but that’s roughly 100 million Americans with disposable income, time to show up consistently, and a genuine health motivation beyond aesthetics.
The unit economics back it up: $386K AUV on an investment that tops out around $544K puts you at a solid revenue-to-investment ratio before you factor in the fact that older clients tend to show up on schedule and don't churn the way a 25-year-old gym-hopper does.
CapitalSpring buying in at the end of 2025 is a meaningful signal, because these guys have deployed over $4 billion across franchises and they're not writing checks to momentum plays.
They want durable, recurring revenue businesses.
With 400 units already under agreement and a stated goal of 800 by 2030, Alloy has great momentum.
