What was the long-term debt, net of current maturities and financing costs, for Basecamp Fitness?

According to Basecamp Fitness's 2025 Franchise Disclosure Document, the long-term debt, net of current maturities and financing costs, was $955,589 in 2024 and $475,111 in 2023. This figure represents the amount of debt that Basecamp Fitness has outstanding after accounting for payments due within the next year and the costs associated with obtaining financing.

Specifically, the long-term debt includes several components. These are the Series 2021-1 Class A-2 Senior Secured Notes, which amounted to $483,788 in both 2024 and 2023. The Series 2024-1 Class A-2 Senior Secured Notes totaled $480,000 in 2024. Variable Funding Notes accounted for $15,000 in 2024. The total is then reduced by unamortized financing costs, which were $15,961 in 2024 and $5,039 in 2023, and current maturities, which were $7,238 in 2024 and $3,638 in 2023, to arrive at the final long-term debt figure.

For a prospective franchisee, understanding the franchisor's debt structure is crucial. A high level of debt could indicate financial instability, which might affect the franchisor's ability to support its franchisees. Conversely, a manageable debt level can suggest a healthy and well-managed organization. Reviewing these figures over multiple years, as presented in the FDD, provides a clearer picture of the franchisor's financial trends and risk profile.