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  "documentTitle": "F45 | SPAC Presentation Deck | 52 slides",
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  "presentationDate": "2020-06-01 00:00:00",
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  "notes": "The slide uses a circular diagram to represent a flywheel or virtuous cycle.",
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      "text": "847 US franchises sold as of March 31, 2020. Franchise potential for existing markets based on current Australia studios per capita. Studio-level churn is calculated as the number of discontinued memberships divided by the total active memberships per month for a particular studio. For the purposes of calculating churn, a membership is active once a member has made paid visits to at least one studio for three consecutive months; it becomes discontinued once a member has not made a paid visit for three consecutive months. Churn data calculated from October 2017 through December 2019.",
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      "text": "One of the fastest growing fitness franchisors in the United States; More than 40% of franchises owned by multi-unit operators; No franchisee owns more than 2% of franchises sold; Nearly 25,000 estimated global franchise potential; ~1.0% average membership churn across global network",
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      "text": "FRANCHISE MODEL OVERVIEW",
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