Franopolis

    Rumble Franchise SPV

    Franchise research report · reviewed 2025 disclosure data

    Reviewed sources

    Rumble Boxing franchises operate fitness studios offering boxing-inspired group workouts. Franchisees develop and operate branded studio locations under the Rumble system.

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    Headline figures

    Rumble Franchise SPV quick facts

    Is Rumble Franchise SPV a franchise?
    Yes. Rumble Franchise SPV offers franchises through a Franchise Disclosure Document. At the end of 2024, it reported 168 franchised and 2 company-owned outlets (2025 FDD, Item 20, PDF p. 80).
    How much does it cost to open a Rumble Franchise SPV franchise?
    The Rumble Franchise SPV Franchise Disclosure Document reports separate estimated initial investments by format: $509,640 for total initial investment low (2025 FDD, Item 7, PDF p. 29); $1,141,016 for total initial investment high (2025 FDD, Item 7, PDF p. 29). These formats are not combined. Each is the franchisor's disclosed estimate, not a quote. Details
    What ongoing fees does Rumble Franchise SPV charge?
    The disclosed ongoing royalty is 7% (2025 FDD, Item 6, PDF p. 22). The brand or advertising fund contribution is 2% (2025 FDD, Item 6, PDF p. 22). Other recurring fees are listed in Item 6. Details
    Does Rumble Franchise SPV disclose financial performance (Item 19)?
    Yes. The Rumble Franchise SPV FDD includes an Item 19 financial performance representation (2025 FDD, Item 19, PDF p. 76). Figures apply only to the locations and period each one covers. Details
    How many Rumble Franchise SPV locations are there?
    The FDD reports 85 outlets at the end of 2024 (2025 FDD, Item 20, PDF p. 80). Existing locations do not indicate territory availability. Details
    Is Rumble Franchise SPV a good franchise to buy?
    Franopolis does not rate or recommend franchises. From the reviewed FDD: Item 19 includes financial performance figures; check which locations and period they cover; Item 20 lists outlet openings, closures and transfers; Item 6 includes a brand or advertising fund contribution on top of royalty; Item 20 also lists current and former franchisees you can contact. Review the full FDD with a franchise attorney and accountant before deciding.

    From reviewed FDD figures only. Not a recommendation or projection.

    What the disclosures show

    1. 1The 2025 FDD (Item 7) estimates opening costs separately by format: $509,640 (Total Initial Investment low); $1,141,016 (Total Initial Investment high); several initial fee options apply.
    2. 2Item 19 covers 58 separate groups: other measures and memberships and revenue for 15 locations; revenue and memberships and other measures for 14 locations; revenue and other measures and memberships for 11 locations; memberships and revenue and other measures for 6 locations; memberships and revenue and other measures for 5 locations; memberships and revenue and other measures for 19 locations; memberships and other measures for 56 locations; memberships for 14 locations; revenue for 14 locations; revenue for 14 locations; memberships for 56 locations; memberships for 56 locations; other measures and memberships for 56 locations; other measures for 6 locations; memberships and revenue and other measures for 18 locations; memberships for 14 locations; memberships for 14 locations; memberships for 56 locations; other measures and memberships and revenue for 16 locations; revenue for 14 locations; revenue for 14 locations; revenue and other measures and memberships for 10 locations; revenue for 56 locations; memberships for 14 locations; memberships for 14 locations; memberships for 14 locations; memberships for 14 locations; memberships for 14 locations; memberships for 14 locations; other measures and memberships and revenue for 11 locations; memberships for 14 locations; memberships for 57 locations; memberships for 15 locations; memberships for 14 locations; memberships and other measures for 57 locations; other measures and memberships for 57 locations; other measures for 57 locations; other measures and memberships for 57 locations; memberships for 14 locations; memberships for 14 locations; revenue for 14 locations; revenue for 14 locations; revenue for 14 locations; revenue for 14 locations; memberships for 15 locations; revenue for 14 locations; revenue for 15 locations; revenue and memberships for 57 locations; memberships for 14 locations; memberships for 14 locations; memberships for 14 locations; other measures for locations; other measures for locations; memberships for 14 locations; other measures for 57 locations; memberships for 11 locations; other measures for 57 locations; other measures for locations. They are not combined.
    3. 3Outlets grew by 22 in 2024, to 170 (United States systemwide, as labeled in the FDD, Item 20).

    From reviewed FDD figures only. Not a recommendation or projection.

    Compare outlet trendsPut Item 20 counts side by side with up to 3 other brands.

    Rumble Franchise SPV head-to-head

    Closest peers in the same subcategory, side by side from reviewed FDD figures. Not a ranking or recommendation.

    Rumble Franchise SPVVSPIRTEK
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    Rumble Franchise SPVVSFitness Machine Technicians
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    Rumble Franchise SPVVSLinc
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    Rumble Franchise SPVVSFlyLock Security Solutions
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    Costs · Items 5–7

    What does it cost to open?

    Estimated opening costs and the fees payable to the franchisor.

    Startup Investment — Item 7

    Range across 2 single-unit formats

    2025 FDD · Item 7

    Formats disclosed in Item 7 (4)

    Each format has its own total. The total depends on the format you choose; multi-unit packages are listed but not included in the headline range.

    • Total Initial Investment lowPDF p. 29$509,640
    • Total Initial Investment highPDF p. 29$1,141,016
    • Multi-Unit total investment lowMulti-unitPDF p. 32$529,640
    • Multi-Unit Total Initial Investment highMulti-unitPDF p. 32$1,211,016

    Ongoing Fees — Item 6

    Selected recurring charges; payment bases and conditions remain attached to each fee.

    RoyaltyMain ongoing fee

    70 reported fees, each with its payment basis, are listed below; they haven't been sorted into recurring, initial and occasional groups yet.

    Financial Performance — Item 19

    What results are disclosed—and for which locations?

    58 separate populations, shown apart. Revenue is not owner income.

    15 locations

    Memberships, revenue and other measures · 15 locations

    Who is counted
    New Studios owned and operated by franchisees that conducted their Soft Opening in calendar year 2024; Month 4 after Soft Opening.
    Period
    Month 4: 15
    Excluded
    Excludes Studios that operated at Non-Traditional Sites.
    Method
    Monthly average, median, and range by month after Soft Opening; Month 1 excludes pre-opening sales

    These groups are never combined.

    Outlet Changes — Item 20

    How has the outlet count changed?

    United States systemwide, as labeled in the FDD · counts as of December 31, 2024 of each year.

    2025 FDD · Item 20 · PDF p. 80

    Net +100 outlets, 2022–2024

    070202214820231702024+78+22

    Year-end counts reported in Item 20. The scale starts at zero; the labels between the dots show each year's change. Openings and closures for 2024 haven't been pulled from the Item 20 tables yet, so no turnover or churn is shown.

    Questions to investigate

    Prompts based on what this brand's reviewed disclosures do and don't show — not conclusions. Join free as a member to save questions to your research.

    For the franchisor

    • Which line items in the 2025 Item 7 estimate ($509,640 – $1,141,016) vary most by market, and why?

    • Which initial fee option would apply to my situation, and what conditions or discounts affect it?

    • Which locations are included in the Item 19 figures, and which were excluded?

    • Reported units went from 148 to 170 in 2024. How many new units opened, closed or changed hands?

    • Is a territory available in my area, and how is it defined in my agreement?

    For current and former owners

    • How did your actual startup costs and timeline compare with the Item 7 estimate?

    • How many hours a week do you work in the business, and in what role?

    • How do your results compare with the Item 19 figures, and what explains the difference?

    • What support from the franchisor has been most and least useful?

    For your advisors

    • Ask a franchise attorney to review the territory, renewal, transfer and termination terms.

    • Ask an accountant to build a cash-flow plan using your own assumptions, not the franchisor's.

    Sources & vintage history

    Every displayed fact is retained with its disclosure vintage, item, page, and reviewed status. Prior vintages remain on file rather than being overwritten.

    Citations (2025 FDD)

    1. [1]Item 19 — Locations counted not stated in the reviewed record — New Studios owned and operated by franchisees that conducted their Soft Opening… · PDF p. 76
    2. [2]Item 19 — Locations counted not stated in the reviewed record — New Studios owned and operated by franchisees that conducted their Soft Opening… · PDF p. 76; PDF p. 79
    3. [3]Item 19 — Locations counted not stated in the reviewed record — New Studios owned and operated by franchisees that conducted their Soft Opening… · PDF p. 76; PDF p. 79
    4. [4]Item 19 — Locations counted not stated in the reviewed record — New Studios owned and operated by franchisees that conducted their Soft Opening… · PDF p. 76
    5. [5]Item 19 — Locations counted not stated in the reviewed record — New Studios owned and operated by franchisees that conducted their Soft Opening… · PDF p. 76
    6. [6]Item 19 — Locations counted not stated in the reviewed record — New Studios owned and operated by franchisees that conducted their Soft Opening… · PDF p. 76
    7. [7]Item 19 — Locations counted not stated in the reviewed record — 56 Qualified Studios during the Measurement Period, January 1, 2024 to December… · PDF p. 79; PDF p. 78
    8. [8]Item 19 — Locations counted not stated in the reviewed record — 1st Quartile of 56 Qualified Studios, ranked highest to lowest by Monthly New M… · PDF p. 75
    9. [9]Item 19 — Locations counted not stated in the reviewed record — 1st Quartile of the 56 Qualified Studios, ranked highest to lowest by Gross Rev… · PDF p. 73
    10. [10]Item 19 — Locations counted not stated in the reviewed record — 4th Quartile of the 56 Qualified Studios, ranked highest to lowest by Gross Rev… · PDF p. 73
    11. [11]Item 19 — Locations counted not stated in the reviewed record — The complete set of 56 Qualified Studios for the Measurement Period; ranked hig… · PDF p. 75
    12. [12]Item 19 — Locations counted not stated in the reviewed record — All 56 Qualified Studios for the Measurement Period, as reported in the source'… · PDF p. 74
    13. [13]Item 19 — Locations counted not stated in the reviewed record — The 56 Qualified Studios during the Measurement Period (January 1, 2024 to Dece… · PDF p. 79
    14. [14]Item 19 — Locations counted not stated in the reviewed record — New Studios owned and operated by franchisees that conducted their Soft Opening… · PDF p. 76
    15. [15]Item 19 — Locations counted not stated in the reviewed record — New Studios owned and operated by franchisees that conducted their Soft Opening… · PDF p. 74; PDF p. 76
    16. [16]Item 19 — Locations counted not stated in the reviewed record — 4th Quartile of the 56 Qualified Studios, ranked highest to lowest by average M… · PDF p. 74
    17. [17]Item 19 — Locations counted not stated in the reviewed record — 3rd Quartile of 56 Qualified Studios, ranked highest to lowest by Monthly New M… · PDF p. 75
    18. [18]Item 19 — Locations counted not stated in the reviewed record — The complete set of 56 Qualified Studios during the Measurement Period, reporte… · PDF p. 75
    19. [19]Item 19 — Locations counted not stated in the reviewed record — New Studios owned and operated by franchisees that conducted their Soft Opening… · PDF p. 76
    20. [20]Item 19 — Locations counted not stated in the reviewed record — 2nd Quartile of the 56 Qualified Studios, ranked highest to lowest by Gross Rev… · PDF p. 73
    21. [21]Item 19 — Locations counted not stated in the reviewed record — 3rd Quartile of the 56 Qualified Studios, ranked highest to lowest by Gross Rev… · PDF p. 73
    22. [22]Item 19 — Locations counted not stated in the reviewed record — New Studios owned and operated by franchisees that conducted their Soft Opening… · PDF p. 76
    23. [23]Item 19 — Locations counted not stated in the reviewed record — The complete set of 56 Qualified Studios for the Measurement Period, reported i… · PDF p. 73
    24. [24]Item 19 — Locations counted not stated in the reviewed record — 1st Quartile of the 56 Qualified Studios, ranked highest to lowest by average M… · PDF p. 74
    25. [25]Item 19 — Locations counted not stated in the reviewed record — 2nd Quartile of the 56 Qualified Studios, ranked highest to lowest by average M… · PDF p. 74
    26. [26]Item 19 — Locations counted not stated in the reviewed record — 3rd Quartile of the 56 Qualified Studios, ranked highest to lowest by average M… · PDF p. 74
    27. [27]Item 19 — Locations counted not stated in the reviewed record — 1st Quartile of the 56 Qualified Studios, ranked highest to lowest by Monthly N… · PDF p. 75
    28. [28]Item 19 — Locations counted not stated in the reviewed record — 2nd Quartile of 56 Qualified Studios, ranked highest to lowest by Monthly New M… · PDF p. 75
    29. [29]Item 19 — Locations counted not stated in the reviewed record — 4th Quartile of 56 Qualified Studios, ranked highest to lowest by Monthly New M… · PDF p. 75
    30. [30]Item 19 — Locations counted not stated in the reviewed record — New Studios owned and operated by franchisees that conducted their Soft Opening… · PDF p. 76
    31. [31]Item 19 — Locations counted not stated in the reviewed record — 1st Quartile of the 57 Qualified Studios, ranked highest to lowest by average M… · PDF p. 74
    32. [32]Item 19 — Locations counted not stated in the reviewed record — The filing's Total row for 57 Qualified Studios for the Measurement Period Janu… · PDF p. 74; PDF p. 75
    33. [33]Item 19 — Locations counted not stated in the reviewed record — 4th Quartile of the 57 Qualified Studios, ranked highest to lowest by average M… · PDF p. 74
    34. [34]Item 19 — Locations counted not stated in the reviewed record — 3rd Quartile of the 57 Qualified Studios, ranked highest to lowest by Monthly N… · PDF p. 75
    35. [35]Item 19 — Locations counted not stated in the reviewed record — The 57 Qualified Studios during the Measurement Period, January 1, 2024 to Dece… · PDF p. 78
    36. [36]Item 19 — Locations counted not stated in the reviewed record — The 57 Qualified Studios during the Measurement Period, January 1, 2024 through… · PDF p. 79
    37. [37]Item 19 — Locations counted not stated in the reviewed record — 57 Qualified Studios owned and operated by a franchisee for the entire Measurem… · PDF p. 79
    38. [38]Item 19 — Locations counted not stated in the reviewed record — 57 Qualified Studios owned and operated by a franchisee for the entire Measurem… · PDF p. 79
    39. [39]Item 19 — Locations counted not stated in the reviewed record — 2nd Quartile of the 57 Qualified Studios, ranked highest to lowest by average M… · PDF p. 74
    40. [40]Item 19 — Locations counted not stated in the reviewed record — 3rd Quartile of the 57 Qualified Studios, ranked highest to lowest by average M… · PDF p. 74
    41. [41]Item 19 — Locations counted not stated in the reviewed record — 1st Quartile of the 57 Qualified Studios, ranked highest to lowest by Gross Rev… · PDF p. 73
    42. [42]Item 19 — Locations counted not stated in the reviewed record — 1st Quartile of the 57 Qualified Studios ranked highest to lowest by Gross Reve… · PDF p. 73
    43. [43]Item 19 — Locations counted not stated in the reviewed record — 2nd Quartile of the 57 Qualified Studios ranked highest to lowest by Gross Reve… · PDF p. 73
    44. [44]Item 19 — Locations counted not stated in the reviewed record — 3rd Quartile of the 57 Qualified Studios ranked highest to lowest by Gross Reve… · PDF p. 73
    45. [45]Item 19 — Locations counted not stated in the reviewed record — 4th Quartile of the 57 Qualified Studios, ranked highest to lowest by Monthly N… · PDF p. 75
    46. [46]Item 19 — Locations counted not stated in the reviewed record — 3rd Quartile of 57 Qualified Studios, ranked highest to lowest by Gross Revenue… · PDF p. 73
    47. [47]Item 19 — Locations counted not stated in the reviewed record — 4th Quartile of 57 Qualified Studios, ranked highest to lowest by Gross Revenue… · PDF p. 73
    48. [48]Item 19 — Locations counted not stated in the reviewed record — The filing's Total row for 57 Qualified Studios during the Measurement Period J… · PDF p. 73; PDF p. 75
    49. [49]Item 19 — Locations counted not stated in the reviewed record — 1st Quartile of the 57 Qualified Studios, ranked highest to lowest by Monthly N… · PDF p. 75
    50. [50]Item 19 — Locations counted not stated in the reviewed record — 2nd Quartile of the 57 Qualified Studios, ranked highest to lowest by Monthly N… · PDF p. 75
    51. [51]Item 19 — Locations counted not stated in the reviewed record — 3rd Quartile of the 57 Qualified Studios, ranked highest to lowest by Monthly N… · PDF p. 75
    52. [52]Item 19 — Locations counted not stated in the reviewed record — No New Studios are listed for Month 11 after Soft Opening in the calendar-year-… · PDF p. 76
    53. [53]Item 19 — Locations counted not stated in the reviewed record — No New Studios are listed for Month 12 after Soft Opening in the calendar-year-… · PDF p. 76
    54. [54]Item 19 — Locations counted not stated in the reviewed record — 1st Quartile of the 56 Qualified Studios, ranked highest to lowest by average M… · PDF p. 74
    55. [55]Item 19 — Locations counted not stated in the reviewed record — 57 Qualified Studios during the Measurement Period (January 1, 2024 through Dec… · PDF p. 79
    56. [56]Item 19 — Locations counted not stated in the reviewed record — New Studios owned and operated by franchisees that conducted their Soft Opening… · PDF p. 76
    57. [57]Item 19 — Locations counted not stated in the reviewed record — 57 Qualified Studios during the Measurement Period, January 1, 2024 through Dec… · PDF p. 79
    58. [58]Item 19 — Locations counted not stated in the reviewed record — New Studios with 2024 Soft Opening; monthly cohort · PDF p. 76
    59. [59]Outlet counts — Item 20, Table 1 · PDF p. 80

    "PDF p." is the page in the PDF file; "printed p." is the number printed on the FDD page.

    Territory & operations

    These are contract disclosures, not confirmation that any territory is currently available.

    Legal & agreement

    Franchisor financial statements

    Fiscal yearMeasureReported value
    2024intangible assets, netMore than one value recorded for this year — open the FDD source before comparing$86,485
    2024deferred costs, net of current portionMore than one value recorded for this year — open the FDD source before comparing$36,935
    2024other assetsMore than one value recorded for this year — open the FDD source before comparing$563
    2024total assetsMore than one value recorded for this year — open the FDD source before comparing$150,390
    2024accrued expensesMore than one value recorded for this year — open the FDD source before comparing$877
    2024deferred revenue, current portionMore than one value recorded for this year — open the FDD source before comparing$14,307
    2024total current liabilitiesMore than one value recorded for this year — open the FDD source before comparing$15,184
    2024deferred revenue, net of current portionMore than one value recorded for this year — open the FDD source before comparing$96,065
    2024total liabilitiesMore than one value recorded for this year — open the FDD source before comparing$111,249
    2024member contributionMore than one value recorded for this year — open the FDD source before comparing$48,542
    2024advances to member, netMore than one value recorded for this year — open the FDD source before comparing-$155,034
    2024retained earningsMore than one value recorded for this year — open the FDD source before comparing$145,633

    These figures describe the franchisor company, not individual franchise locations.

    SBA-backed loans to franchisees

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    Source: U.S. Small Business Administration 7(a) & 504 FOIA data. Loan volume is not a measure of franchisee success.

    Related research

    Brands in the same subcategory first, then the wider industry, ordered by shared business format, overlapping investment range, Item 20 outlet count and search interest. This is not a ranking or recommendation.

    PIRTEKFitness Machine TechniciansLincFlyLock Security SolutionsFigaroAppell

    Head-to-head comparisons

    Rumble Franchise SPV vs PIRTEKRumble Franchise SPV vs Fitness Machine TechniciansRumble Franchise SPV vs LincRumble Franchise SPV vs FlyLock Security SolutionsRumble Franchise SPV vs FigaroRumble Franchise SPV vs Appell
    Compare reviewed facts

    At a glance

    Business history

    Not reviewed

    Owner participation

    Not reviewed

    Territory language

    Litigation disclosure

    Not reviewed

    Bankruptcy disclosure

    Not reviewed

    Agreement term

    Not reviewed

    Reader notes on wording

    Our automated check found that these summaries may not match the FDD's exact wording. Read the FDD excerpt itself; it is the authoritative text. Core cost, fee, Item 19 and outlet figures are not affected.

    • Item 12 · PDF p. 56 · 2025 FDD

      Our summary: Reserved rights

      “We and our parents/affiliates reserve the exclusive right to conduct the following activities under the Franchise Agreement and/or Multi-Unit Agreement”

      Note: Supplied quote could not be confirmed on the cited PDF page excerpt.

    • Item 12 · PDF p. 56 · 2025 FDD

      Our summary: Development Area protection subject to compliance and reserved rights

      “As long as you are in compliance with your Multi-Unit Agreement, we will not operate, or grant a license to a third-party to operate, during the term of your Multi-Unit Agreement, a Studio located within the Development Area, and we will not grant anyone else the right to develop Studios within the Development Area, subject to our reservation of rights below.”

      Note: Supplied quote could not be confirmed on the cited PDF page excerpt.

    • Item 12 · PDF p. 56 · 2025 FDD

      Our summary: Reserved rights to franchisor/affiliates

      “We and our parents/affiliates reserve the exclusive right to conduct the following activities under the Franchise Agreement and/or Multi-Unit Agreement”

      Note: Supplied quote could not be confirmed on the cited PDF page excerpt.

    • Item 12 · PDF p. 54 · 2025 FDD

      Our summary: Protected Designated Territory while compliant, subject to reserved rights

      “As long as you are in compliance with your Franchise Agreement, we will not operate, or grant a license to a third-party to operate, during the term of your Franchise Agreement, a Studio located within the Designated Territory, subject to our reservation of rights below.”

      Note: Supplied quote could not be confirmed on the cited PDF page excerpt.

    • Item 12 · PDF p. 55 · 2025 FDD

      Our summary: Outside-territory solicitation requires consent

      “you will not be permitted to actively solicit or recruit clients outside your Designated Territory, unless we provide our prior written consent.”

      Note: Supplied quote could not be confirmed on the cited PDF page excerpt.

    • Item 12 · PDF p. 55 · 2025 FDD

      Our summary: Outside-area active solicitation requires prior written consent

      “you will not be permitted to actively solicit or recruit clients outside your Designated Territory, unless we provide our prior written consent.”

      Note: Supplied quote could not be confirmed on the cited PDF page excerpt.

    • Item 12 · PDF p. 56 · 2025 FDD

      Our summary: Reserved rights

      “We and our parents/affiliates reserve the exclusive right to conduct the following activities under the Franchise Agreement and/or Multi-Unit Agreement”

      Note: Supplied quote could not be confirmed on the cited PDF page excerpt.

    • Item 12 · PDF p. 54 · 2025 FDD

      Our summary: Protected Designated Territory subject to reservations

      “As long as you are in compliance with your Franchise Agreement, we will not operate, or grant a license to a third-party to operate, during the term of your Franchise Agreement, a Studio located within the Designated Territory, subject to our reservation of rights below.”

      Note: Supplied quote could not be confirmed on the cited PDF page excerpt.

    • Item 12 · PDF p. 54 · 2025 FDD

      Our summary: Territory protection: no third-party Studio within Designated Territory while compliant, subject to reserved rights

      “As long as you are in compliance with your Franchise Agreement, we will not operate, or grant a license to a third-party to operate, during the term of your Franchise Agreement, a Studio located within the Designated Territory, subject to our reservation of rights below.”

      Note: Supplied quote could not be confirmed on the cited PDF page excerpt.

    • Item 12 · PDF p. 56 · 2025 FDD

      Our summary: Development Area protected while compliant, subject to reservations

      “As long as you are in compliance with your Multi-Unit Agreement, we will not operate, or grant a license to a third-party to operate, during the term of your Multi-Unit Agreement, a Studio located within the Development Area, and we will not grant anyone else the right to develop Studios within the Development Area, subject to our reservation of rights below.”

      Note: Supplied quote could not be confirmed on the cited PDF page excerpt.

    • Item 12 · PDF p. 55 · 2025 FDD

      Our summary: Territory limitation: active solicitation outside Designated Territory requires prior written consent

      “you will not be permitted to actively solicit or recruit clients outside your Designated Territory, unless we provide our prior written consent.”

      Note: Supplied quote could not be confirmed on the cited PDF page excerpt.

    • Item 12 · PDF p. 56 · 2025 FDD

      Our summary: Development Area protection subject to compliance and reserved rights

      “As long as you are in compliance with your Multi-Unit Agreement, we will not operate, or grant a license to a third-party to operate, during the term of your Multi-Unit Agreement, a Studio located within the Development Area, and we will not grant anyone else the right to develop Studios within the Development Area, subject to our reservation of rights below.”

      Note: Supplied quote could not be confirmed on the cited PDF page excerpt.

    • Item 19 · PDF p. 76 · 2025 FDD

      Our summary: Part B Number of New Studios — Month undefined

      “Number of New Studios 1 19 18 16 15 14 11 11 10 6 5 0 0”

      Note: The cited table has separate Month 11 and Month 12 zero counts, but this extraction labels the month as undefined, so the page cannot identify which cohort this claim refers to.

    Independent analysis of franchisor-provided data. Not investment advice. Franopolis does not distribute FDDs.

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