What factors can influence the cost of leasehold improvements for a Basecamp Fitness studio?
Basecamp_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
tudio is 2,500 square feet, however we have four recommended configurations ranging from 2,000 to 3,500 square feet. Leasehold improvements are based on the experience of our franchisees who built studios in 2023 and 2024. The range of tenant improvement assistance received by our franchisees in 2024 was $10 to $70 per square foot, with an average tenant improvement assistance of $40 per square foot. There is no assurance that your landlord will provide you with any tenant improvement assistance.
- The amount of your leasehold improvements will vary based on existing conditions, size, design, including the availability and prices of labor and materials. You should carefully investigate all of these costs in the area where you wish to establish your Basecamp Studio. In addition, we assumed the general contractor will include permitting fees in the construction costs.
- (5) Rent costs are generally between $20 and $50 per square foot in the Minneapolis, Minnesota market, not including CAM or taxes, and will vary in other markets.
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 24–28)
What This Means (2025 FDD)
According to Basecamp Fitness's 2025 Franchise Disclosure Document, the cost of leasehold improvements for a studio can vary significantly based on several factors. These factors include the existing conditions of the location, the size of the studio, the specific design chosen, and the availability and prices of labor and materials in the area. The FDD notes that franchisees who built studios in 2023 and 2024 experienced a range of tenant improvement assistance from $10 to $70 per square foot, with an average of $40 per square foot, but there is no guarantee that a new franchisee will receive similar assistance from their landlord. The initial investment table estimates leasehold improvements to range from $134,800 to $335,000. The recommended size of a Basecamp Fitness studio is 2,500 square feet, but there are four recommended configurations ranging from 2,000 to 3,500 square feet.
Prospective franchisees should carefully investigate all these costs in their target area to get a realistic estimate. The FDD also mentions that Basecamp Fitness recommends using their designated vendor for Construction Management Services, with fees of approximately $13,500. Additionally, franchisees must retain Basecamp Fitness's designated architectural vendor to create detailed Construction Documents, with fees ranging from $15,400 to $26,250. These fees add to the overall cost of preparing the studio for opening.
Given the wide range in potential costs and the various factors influencing them, it is crucial for potential Basecamp Fitness franchisees to conduct thorough due diligence. Understanding local market conditions, negotiating effectively with landlords for tenant improvement allowances, and carefully managing construction and design expenses are all essential to controlling the initial investment. The FDD's estimates provide a useful starting point, but franchisees should seek detailed quotes and expert advice to develop a realistic budget for their specific location and studio design.