IRON 24
Iron 24 operates technology-driven fitness centers offering low-cost gym memberships with no contracts or sales pitches, providing 24/7 access to top-quality equipment in a clean, convenient, and welcoming space. The business model emphasizes affordability, accessibility, and a no-pressure environment to attract budget-conscious fitness enthusiasts. It targets the general public seeking reliable, hassle-free gym experiences.
Disclaimer: This information was extracted using AI from public Franchise Disclosure Documents and should be independently verified. This is not financial or legal advice. Always review official FDD filings before making investment decisions.
Overview
Financial Requirements
7% royalty (min $500/mo) + $600-$800/mo electronic systems fee (varies by cameras/access points)
Franchise Stats
Financial Performance
Item 19 Financial Performance
Data Based On: Data for 7 outlets (2 franchised, 5 company-owned) in operation through March 31, 2024, combining gross revenue and active membership data.
* The provided gross revenue and membership subscription data (on pages 2 and 3) combines the performance of 2 franchised outlets and 5 company-owned outlets. The 'Location Count' in the tables confirms the aggregate nature of this data, showing up to 7 units contributing. As per the instructions, it is not possible to extract financial performance metrics *only* for individual franchised units from this combined data. Therefore, specific financial metrics have been set to null.
Extracted Item 19 Section
How IRON 24 Compares to Other Fitness Studios Franchises
Key Insights
- Lower investment than 78% of Fitness Studios franchises
| Franchise | Investment Range | Franchise Fee | Royalty | Locations |
|---|---|---|---|---|
IRON 24 Current | $201K - $481K | $39K | 7.0% | 2 |
| Planet Fitness | $1.5M - $5.2M | $20K | 7.0% | 2,298 |
| ANYTIME FITNESS | $459K - $908K | $43K | N/A | 2,290 |
| F45 Training | $349K - $786K | $60K | 7.0% | 751 |
| Pure Barre | $314K - $629K | $60K | 7.0% | 617 |
| HOTWORX | $259K - $878K | $20K | N/A | 578 |
Fitness Studios Average 55 franchises | $425K - $1.0M | $47K | 6.9% | - |
* Comparison based on latest FDD filings. Investment ranges from Item 7, fees from Item 5. Showing top 5 of 55 Fitness Studios franchises by location count.
Locations & Growth
Outlet Growth Over Time
Total outlets at end of each year
Geographic Distribution (2023)
Outlets by state across the United States
SBA Loan History
Historical SBA 7(a) loan data for IRON 24 franchisees (2023 - 2025)
Loans by Year
* Data sourced from SBA 7(a) FOIA loan records. Default rate calculated from charged-off loans.
Franchisee Contacts
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Due Diligence
Litigation (Item 3)
No litigation involving franchisees reported in the FDD.
Bankruptcy (Item 4)
No bankruptcy history reported in the FDD.
System Health (Item 20)
Franchise system changes reported in the most recent fiscal year
Frequently Asked Questions
How much does it cost to open a IRON 24 franchise?
The total initial investment to open a IRON 24 franchise ranges from $201,050 to $480,750. This includes a franchise fee of $39,000. Ongoing royalty fees are 7.0% of gross sales.
How many IRON 24 franchise locations are there?
As of the 2024 FDD, IRON 24 has 2 franchise locations. The company has been franchising since 2022.
Can you get an SBA loan for a IRON 24 franchise?
Yes, SBA loans are available for IRON 24 franchises. Historical data shows 8 SBA 7(a) loans have been approved for IRON 24 franchisees, with an average loan amount of $240,313. The historical default rate is 0.0%.
Is IRON 24 a good franchise to buy?
IRON 24 shows several positive indicators: transparent financial performance data (Item 19), low SBA loan default rate. However, franchise success depends on many factors including location, local market conditions, and owner involvement. We recommend speaking with existing franchisees and consulting with a franchise attorney before making a decision.
Interested in IRON 24?
Talk to a franchise advisor to get personalized guidance and learn if IRON 24 is the right fit for you.
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