Anytime Fitness vs X-Golf: franchise research comparison

Investment by format

Format-specific estimates only. Do not combine one format's minimum with another format's maximum.

Franchise fees and ongoing costs

Franchise fee

$22,500 to $42,500 · Extracted Item 5 scalar range, not a universal minimum or maximum; formats, eligibility, discounts and waivers require original-filing review.

Royalty

$842 · Flat 'Monthly Fee' per center, CPI-adjusted annually each January; franchisor reserves the right to replace it with a percentage royalty of up to 8% of Gross Revenue

Marketing contribution

Not captured

Technology fee

$799/month per center (Base Technology Fee, formerly Global Access Fee), increasing 10% annually, compounded

Other fees

General Advertising and Marketing Fee ($900/mo per center, capped at greater of $900/mo or 3% of Gross Revenue); AF Coaching Fees ($109-$149/center/month, only for pre-3/28/2019 agreements); Conference Fee ($499-$749 per registration, biennial)

Working capital (FDD Item 7)

$47,394 to $49,194 for the first 3 months, covering uniforms and payroll for a full-time personal trainer and 2 full-time employees, additional utility costs, keyfobs, first 3 months' Monthly Fees, General Advertising and Marketing Fees, minimum Local Marketing Spend, and Base Technology Fees; excludes owner's draw.

Working capital is drawn from Item 7. The Investment source below locates the investment section, not an independently verified working-capital scalar.

Financial performance: Item 19

Item 19 captured

Yes

Metric / basis

Average/median/quartile gross revenue (membership, coaching, pay-per-visit) for franchised centers using AF Coaching, and separately for those using the Coaching Dashboard; plus a full revenue/expense/EBITDA statement for company-owned centers

Reporting period

12-month period ended February 28, 2026 (Sections I & II, franchised centers); Section III (company-owned centers) also covers the 12-month period ended February 28, 2026, framed as a '2025 Statement of Revenue, Expenses and Earnings'

Sample

1,683 franchised centers open the full period and using AF Coaching (Section I); 215 of those also using the Coaching Dashboard for 9+ months (Section II); 11 company-owned centers (Section III)

Reported average

$446,814

Reported median

$398,982

Owner income is not captured. Gross sales and EBITDA are not owner pay. Results depend on the disclosed metric, sample and period; consult the full filing.

Unit growth: Item 20

Reporting year

2025

Scope

franchised outlets

Starting outlets

2290

Year-end outlets

2271

Net change

-19

Derivation

ending minus starting outlets

Openings

53

Terminations

39

Non-renewals

30

Other closures

3

Reacquisitions

0

Transfers

169

Transfers are not closures. Net change is ending minus starting outlets for the stated scope and year, or complete openings less terminations, non-renewals, other closures and reacquisitions. Missing inputs stay unknown.

SBA loan history

Loan activity

249 approvals

Activity window

FY2021-FY2026 YTD; snapshot 2026-06-30

Median SBA loan

$441,000

Median loan window

FY2023-FY2026 YTD through 2026-06-30

Median loan sample

143 loans

Historical charge-off share

11.13%

Cohort

7(a) FY2010-2019 approvals

Numerator / denominator

76 / 683

Formula

CHGOFF / (PIF + CHGOFF + EXEMPT) × 100

This is a historical loan-level share, not a franchise failure probability or location survival rate. Loan size is not total investment. Other loan statuses are excluded from the seasoned denominator. Activity combines 7(a) and 504 approvals, excluding canceled and not-funded records; this is not a rolling five-year count. FY2024-25 franchise tags are sparse after directory suspension; fewer tagged loans do not establish brand decline. Recent charge-off cohorts are immature.

Median loan amounts are financing context, not startup cost. The median window is separate from the seasoned charge-off cohort.

Investment by format

Format-specific estimates only. Do not combine one format's minimum with another format's maximum.

Franchise fees and ongoing costs

Franchise fee

$25,000 to $40,000 · Extracted Item 5 scalar range, not a universal minimum or maximum; formats, eligibility, discounts and waivers require original-filing review.

Royalty

7% · 7% of adjusted gross sales, monthly on the 10th day of the following month

Marketing contribution

1% (basis not captured; see original filing)

Technology fee

$1,500 per quarter (payable with royalty), may be increased up to a max of 2% of gross sales with 30 days notice; separate Acuity Software fee of $120/year plus $10/month

Other fees

Market Cooperative Contribution (up to 5% of adjusted gross sales, if applicable); Acuity Software $120/yr + $10/mo; Non-compliance fee $250/instance (then $250/week)

Working capital (FDD Item 7)

$60,000-$90,000 for the first 3 months of operation, covering payroll, additional inventory, rent, and other operating expenses in excess of income; excludes owner compensation and debt service

Working capital is drawn from Item 7. The Investment source below locates the investment section, not an independently verified working-capital scalar.

Financial performance: Item 19

Item 19 captured

Yes

Metric / basis

Annual gross store sales per simulator (low/high/average/median, and % of stores above average), plus a tiered breakdown (bottom 25%/middle 50%/top 25% average per simulator)

Reporting period

2025 (also shows 2024 and 2023)

Sample

114 X-Golf outlets open at least 12 months in 2025 (99 in 2024, 69 in 2023); all outlets were franchised

Reported average

$112,944

Reported median

$94,970

Owner income is not captured. Gross sales and EBITDA are not owner pay. Results depend on the disclosed metric, sample and period; consult the full filing.

Unit growth: Item 20

Reporting year

2025

Scope

franchised outlets

Starting outlets

121

Year-end outlets

129

Net change

+8

Derivation

ending minus starting outlets

Openings

14

Terminations

0

Non-renewals

0

Other closures

4

Reacquisitions

2

Transfers

1

Transfers are not closures. Net change is ending minus starting outlets for the stated scope and year, or complete openings less terminations, non-renewals, other closures and reacquisitions. Missing inputs stay unknown.

SBA loan history

Loan activity

118 approvals

Activity window

FY2021-FY2026 YTD; snapshot 2026-06-30

Median SBA loan

$900,000

Median loan window

FY2023-FY2026 YTD through 2026-06-30

Median loan sample

63 loans

Historical charge-off share

0.00%

Cohort

7(a) FY2010-2019 approvals

Numerator / denominator

0 / 23

Formula

CHGOFF / (PIF + CHGOFF + EXEMPT) × 100

This is a historical loan-level share, not a franchise failure probability or location survival rate. Loan size is not total investment. Other loan statuses are excluded from the seasoned denominator. Activity combines 7(a) and 504 approvals, excluding canceled and not-funded records; this is not a rolling five-year count. FY2024-25 franchise tags are sparse after directory suspension; fewer tagged loans do not establish brand decline. Recent charge-off cohorts are immature.

Median loan amounts are financing context, not startup cost. The median window is separate from the seasoned charge-off cohort.