Gold's Gym vs Iron Tribe Fitness Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of Gold's Gym vs Iron Tribe Fitness 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 | $300,000 - $433,500 |
Franchise Fee |
$40,000 | $42,000 |
Royalty Fee |
5% | 6% |
Advertising Fee |
2% | 1% |
Year Founded |
1965 | 2010 |
Year Franchised |
1980 | 2012 |
Term Of Agreement |
- | - |
Term Of Agreement |
- | - |
Renewal Fee |
- | - |
Business Experience Requirements |
Experience |
Industry experience General business experience | - |
Financing Options |
|
In-House/3rd Party | In-House/3rd Party |
Franchise Fees |
No/Yes | -/- |
Start-up Costs |
No/Yes | -/- |
Equipment |
No/Yes | -/- |
Inventory |
No/Yes | -/- |
Receivables |
No/No | -/- |
Payroll |
No/No | -/- |
Training & Support |
Training |
Available at headquarters |
On-The-Job Training: 20 hours
Additional Training: Online pre-training course
|
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
Loyalty program/app
|
Operations |
30% of all franchisees own more than one unit
Absentee ownership of franchise is allowed. |
Absentee Ownership Allowed
Number of Employees Required to Run: 5
|
Expansion Plans |
US Expansion |
- | Yes |
Canada Expansion |
No | - |
International Expansion |
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.
#61 on Franchise Rankings.com
#427 in Franchise 500 for 2020.
About Iron Tribe Fitness
Iron Tribe was founded by fitness industry veteran, Forrest Walden,
back in 2008 in his 400 square foot garage. Initially, it was just to
have a place for Forrest to do group-based workouts with his friends
because he couldn’t find anywhere locally that offered the right amount
of space and equipment. There was no charge to belong, but you had to
have a personal invite.
As more
and more friends begged to come and join his garage gym, Forrest began
to dream about what it would look like to start a brand-new concept that
would take his team-based, group workouts to the next level and allow
more lives to be impacted.
The first official Iron Tribe
location opened in February of 2010. The response from the community was
immediate and overwhelming. In fact, the 250 membership cap was reached
in under 8 months with a growing waiting list .
That location has
operated at max capacity since September of 2010 eventually moving
across the street and expanding the location to serve 300 clients.