My Gym Children's Fitness Center vs Gold's Gym Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of My Gym Children's Fitness Center vs Gold's Gym including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
Investment |
$36,760 - $277,200 | $22,182,505,000,500 |
Franchise Fee |
$25,000 - $55,000 | $40,000 |
Royalty Fee |
7%-8% | 5% |
Advertising Fee |
1% | 2% |
Year Founded |
1983 | 1965 |
Year Franchised |
1995 | 1980 |
Term Of Agreement |
12 years | - |
Term Of Agreement |
12 years | - |
Renewal Fee |
- | - |
Business Experience Requirements |
Experience |
Industry experience General business experience Marketing skills | Industry experience General business experience |
Financing Options |
|
In-House/3rd Party | In-House/3rd Party |
Franchise Fees |
No/Yes | No/Yes |
Start-up Costs |
No/Yes | No/Yes |
Equipment |
No/Yes | No/Yes |
Inventory |
No/Yes | No/Yes |
Receivables |
No/No | No/No |
Payroll |
No/No | No/No |
Training & Support |
Training |
On-The-Job Training: 40 hours
Classroom Training: 19 hours
| Available at headquarters |
Support |
Purchasing Co-ops
Newsletter
Meetings/Conventions
Grand Opening
Online Support
Security/Safety Procedures
Field Operations
Site Selection
Proprietary Software
Franchisee Intranet Platform
| Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Field operations/evaluations |
Marketing |
Co-op Advertising
Ad Templates
National Media
Regional Advertising
Social media
SEO
Website development
Email marketing
| Co-op advertising, Regional advertising |
Operations |
20% of all franchisees own more than one unit Number of employees needed to run franchised unit: 6
- 10
Absentee ownership of franchise is allowed. (100% of current franchisees are owner/operators) |
30% of all franchisees own more than one unit
Absentee ownership of franchise is allowed. |
Expansion Plans |
US Expansion |
Yes | - |
Canada Expansion |
No | No |
International Expansion |
Yes | Yes |
Company Overviews
About My Gym Children's Fitness Center
Welcome to the exciting business of children's gyms!
The timing is right
The children's fitness industry offers a vast marketplace where the potential has now become even greater because of school budget cuts, decreasing opportunities for safe play in parks and neighborhoods, and the appalling state of the physical fitness of our youth. Millions of our children are overweight, inactive and below minimum standards for strength, flexibility and endurance. The need for more children's gyms is apparent, and the field offers an abundance of opportunities to those who love children.
Improve the lives of children
Our innovative and carefully structured programs, along with our ideal student/teacher ratio and noncompetitive atmosphere, allow children to discover what great things they can accomplish. My Gym Kids have so much fun developing strength, balance, coordination, agility, flexibility, fine and gross motor proficiency, social skills and self-esteem as they run, jump, tumble, dance and sing.
Be your own boss
Our franchisees derive real satisfaction from running a business
that promotes the physical and emotional health of our world's most precious resource, our children.
Veteran Incentives $10,000 off franchise fee
#202 in Franchise 500 for 2020.
About Gold's Gym
Bodybuilders training outside on Muscle Beach were the first customers for the original Gold's Gym when it opened in Venice, California, in 1965. With its intense, no-frills atmosphere, the gym soon became known as the 'Mecca of Bodybuilding.' Arnold Schwarznegger's movie 'Pumping Iron' focused on Gold's Gym, propelling it into the spotlight in 1975. Gold's Gym has been franchising since 1980, and franchises account for more than 90 percent of its locations. In addition to running the health club facilities, franchisees sell Gold's Gym licensed apparel through their Pro Shops.
#61 on Franchise Rankings.com
#427 in Franchise 500 for 2020.