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Below is an in-depth analysis and side-by-side comparison of Fitniks vs Nexgym including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
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Investment | $171,000 - $242,250 | $213,000 - $397,000 |
Franchise Fee | $39,000 | $30,000 |
Royalty Fee | - | 6% |
Advertising Fee | - | - |
Year Founded | 2006 | 2005 |
Year Franchised | 2006 | 2006 |
Term Of Agreement | 5 years | 10 years |
Term Of Agreement | 5 years | 10 years |
Renewal Fee | - | 25% of franchise fee |
Business Experience Requirements |
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Experience | - | - |
Financing Options |
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In-House/3rd Party | In-House/3rd Party | |
Franchise Fees | -/- | No/No |
Start-up Costs | -/- | No/No |
Equipment | -/- | -/No |
Inventory | -/- | No/No |
Receivables | -/- | No/No |
Payroll | -/- | No/No |
Training & Support |
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Training | - | * Available at headquarters: 2 weeks * At franchisee's location: 1 week |
Support | - | - |
Marketing | - | - |
Operations | - | * 0% of all franchisees own more than one unit * Number of employees needed to run franchised unit: 10 * Absentee ownership of franchise is NOT allowed. (100% of current franchisees are owner/operators) |
Expansion Plans |
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US Expansion | - | Yes |
Canada Expansion | - | - |
International Expansion | - | - |
NO LONGER FRANCHISING
no longer franchising