| ||||
Updated RecentlyGold's Gym vs Workout Anytime 24/7 Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of Gold's Gym vs Workout Anytime 24/7 including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
||
| Investment | $22,182,505,000,500 | $562,850 - $1,008,550 |
| Franchise Fee | $40,000 | $35,000 |
| Royalty Fee | 5% | 4%+ |
| Advertising Fee | 2% | 1% |
| Year Founded | 1965 | 1999 |
| Year Franchised | 1980 | 2005 |
| Term Of Agreement | - | - |
| Term Of Agreement | - | - |
| Renewal Fee | - | - |
Business Experience Requirements |
||
| Experience | - | |
Financing Options |
||
| In-House/3rd Party | In-House/3rd Party | |
| Franchise Fees | No/Yes | Yes/- |
| Start-up Costs | No/Yes | Yes/- |
| Equipment | No/Yes | -/Yes |
| Inventory | No/Yes | -/Yes |
| Receivables | No/No | -/- |
| Payroll | No/No | -/Yes |
Training & Support |
||
| Training | Available at headquarters | On-The-Job Training: 30 hours Classroom Training: 40 hours |
| Support | Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Field operations/evaluations | Purchasing Co-ops Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Proprietary Software Franchisee Intranet Platform |
| Marketing | Co-op advertising, Regional advertising | Co-op Advertising Ad Templates National Media Regional Advertising Social media SEO Website development Email marketing |
| Operations |
30% of all franchisees own more than one unit
Absentee ownership of franchise is allowed. | - |
Expansion Plans |
||
| US Expansion | - | Yes |
| Canada Expansion | No | - |
| International Expansion | Yes | Yes |
Company Overviews
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"]("https://d3t9r0kmeshe93.cloudfront.net/settings/71116cc7-281b-43ed-8275-5087635f96d8.png")
#61 on Franchise Rankings.com
!["Entrepreneur]("https://d3fg11dgb68kbp.cloudfront.net/assets/photos/franchise-badge-22686037fc120ba1bd59c2c9fd6e0fbf.png"){kind=icon}
About Workout Anytime 24/7
Franchising with Workout Anytime is a great option for those who are looking to have more control over their own destiny by running their own business. One of the perks of franchising with an established brand like Workout Anytime is that once your location is up and running, you’ll be able to enjoy greater flexibility with your time. We want our franchise-partners to enjoy financial and lifestyle independence by being able to delegate day-to-day tasks to their trusted employees, leaving them free to decide for themselves when they’d like to come in to work.
The total investment necessary to begin operation of a Workout Anytime franchised business is from $562,850 to $1,008,550. This
includes
$159,398 to $273,004 that must be paid to the franchisor or affiliate.
$159,398 to $273,004 that must be paid to the franchisor or affiliate.
The total investment necessary under the Development Agreement is from
$1,643,550 to $2,980,650. This includes total initial franchise fees of
$60,000 that must be paid to the franchisor or its affiliates.
Veteran Incentives 22% off franchise fee
#351 in Franchise 500 for 2020.