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Updated RecentlyFitness Machine Technicians vs Venture X Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of Fitness Machine Technicians vs Venture X including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
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| Investment | $71,450 - $118,490 | $748,585 - $2,026,210 |
| Franchise Fee | $40,000 - $45,000 | $79,500 |
| Royalty Fee | 6% | 6% |
| Advertising Fee | 1% | 1% |
| Year Founded | 2002 | 2012 |
| Year Franchised | 2012 | 2016 |
| Term Of Agreement | - | 20 years |
| Term Of Agreement | - | 20 years |
| Renewal Fee | - | $1K |
Business Experience Requirements |
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| Experience | - | - |
Financing Options |
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| In-House/3rd Party | In-House/3rd Party | |
| Franchise Fees | Yes/- | -/- |
| Start-up Costs | -/Yes | -/Yes |
| Equipment | -/Yes | -/Yes |
| Inventory | -/Yes | -/- |
| Receivables | -/Yes | -/- |
| Payroll | -/Yes | -/- |
Training & Support |
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| Training | On-The-Job Training: 80 hours Classroom Training: 46 hours Additional Training: Field training | On-The-Job Training: 8 hours Classroom Training: 23 hours |
| Support | Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Proprietary Software | Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Proprietary Software Franchisee Intranet Platform |
| Marketing | Ad Templates Social media SEO Website development | Co-op Advertising Ad Templates Regional Advertising Social media SEO Website development Email marketing Loyalty program/app |
| Operations | Absentee Ownership Allowed Number of Employees Required to Run: 1 - 2 | Absentee Ownership Allowed Number of Employees Required to Run: 2 |
Expansion Plans |
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| US Expansion | Yes | Yes |
| Canada Expansion | - | No |
| International Expansion | - | Yes |
Company Overviews
About Fitness Machine Technicians
As a service based franchise, we don’t have many of the expenses that burden the brick and mortar franchise owners. The benefits are:
- You can work from a home-based office or small leased space (500sf).
- You can lease or buy your technicians’ field vehicles.
- Inventory is on demand direct from suppliers as needed for repairs, so minimal storage space is needed.
About Venture X
The days of working in a cramped cubicle are over for many people in today’s mobile work world. That has led to a rise of coworking spaces that allow for environments that are collaborative, inspiring, and stimulating.
By 2020, The Bureau of Labor Statistics estimates 65 million Americans will be freelancers, temps, independent contractors, or entrepreneurs, making up a full 40% of the workforce. Venture X provides an attractive opportunity for those workers who want to benefit from a rich work community.
Like other “sharing” industries, Venture X franchisees simply provide the modern workspace and members buy private memberships, giving them access to open areas or private offices, whichever they prefer.
Many business models today are built on this collaborative model including transportation and vacation destination sharing. Venture X is at the forefront of this growing trend. Venture X’s unique combination of open space mixed with higher revenue private offices allows for higher income opportunities. Additional revenue can be generated from event hosting to further increase the bottom line of each location.