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

 
My Gym Children's Fitness Center Franchise
Gold's Gym Franchise
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 19831965
Year Franchised 19951980
Term Of Agreement 12 years-
Term Of Agreement 12 years-
Renewal Fee --


Business Experience Requirements

 
My Gym Children's Fitness Center Franchise
Gold's Gym Franchise
Experience
  • Industry experience
  • General business experience
  • Marketing skills

  • Industry experience
  • General business experience

  • Financing Options

     
    My Gym Children's Fitness Center Franchise
    Gold's Gym Franchise
      In-House/3rd PartyIn-House/3rd Party
    Franchise Fees No/YesNo/Yes
    Start-up Costs No/YesNo/Yes
    Equipment No/YesNo/Yes
    Inventory No/YesNo/Yes
    Receivables No/NoNo/No
    Payroll No/NoNo/No

    Training & Support

     
    My Gym Children's Fitness Center Franchise
    Gold's Gym Franchise
    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

     
    My Gym Children's Fitness Center Franchise
    Gold's Gym Franchise
    US Expansion Yes-
    Canada Expansion NoNo
    International Expansion YesYes

    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.

    "franchiserankingscom"
    #61 on Franchise Rankings.com

    "Entrepreneur
    #427 in Franchise 500 for 2020.