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    Franchise opportunities compared

    Freedom Boat Club vs Ultimate Ninjas

    Reviewed figures from each brand's Franchise Disclosure Document (FDD), side by side. Each figure carries its FDD year and page. This is not a ranking or recommendation, and the two FDDs may cover different years and location groups.

    Freedom Boat Club2026 FDDUltimate Ninjas2026 FDD

    Initial investment · Item 7

    Freedom Boat Club

    $263,500 – $622,500

    2026 FDD · Item 7 · PDF p. 22

    Ultimate Ninjas

    $269,000 – $1,195,000

    2026 FDD · Item 7

    Initial franchise fee · Item 5

    Freedom Boat Club

    Not available

    Ultimate Ninjas

    $50,000

    2026 FDD · Item 5 · PDF p. 10

    Royalty · Item 6

    Freedom Boat Club

    6% · percentage of Gross Revenues; subject to Minimum Royalty

    2026 FDD · Item 6 · PDF p. 15

    Ultimate Ninjas

    $50,000

    2026 FDD · Item 6 · PDF p. 14

    Before you compare

    • Both sets of figures come from 2026 FDDs.
    • Ultimate Ninjas discloses more than one business format, so the investment range spans formats; the full report breaks them out.
    • Only Ultimate Ninjas has reviewed Item 19 figures here.

    Financial commitment

    Estimated initial investment (Item 7)

    Freedom Boat Club

    $263,500 – $622,500
    TOTAL ESTIMATED INITIAL INVESTMENT
    2026 FDD · Item 7 · PDF p. 22

    Ultimate Ninjas

    $269,000 – $1,195,000
    2026 FDD · Item 7
    Standard initial franchise fee (Item 5)

    Freedom Boat Club

    Not available
    No single standard fee identified

    Ultimate Ninjas

    $50,000
    2026 FDD · Item 5 · PDF p. 10
    Royalty (Item 6)

    Freedom Boat Club

    6% · percentage of Gross Revenues; subject to Minimum Royalty
    Royalty
    2026 FDD · Item 6 · PDF p. 15

    Ultimate Ninjas

    $50,000
    Liquidated damages floor or royalty+brand average formula
    2026 FDD · Item 6 · PDF p. 14
    Brand / advertising fund (Item 6)

    Freedom Boat Club

    $100
    Sales and Marketing Support Fee — depending on services requested
    2026 FDD · Item 6 · PDF p. 16

    Ultimate Ninjas

    2%
    National advertising contribution — 2%
    2026 FDD · Item 6 · PDF p. 11

    System scale & health

    Total outlets (Item 20)

    Freedom Boat Club

    437
    Outlets at end of 2025
    2026 FDD · Item 20 · PDF p. 48

    Ultimate Ninjas

    10
    Outlets at end of 2024
    2025 FDD · Item 20 · PDF p. 55
    Net outlet change (Item 20)

    Freedom Boat Club

    +42
    Calculated: 395 at end of 2023 → 437 at end of 2025

    Ultimate Ninjas

    +4
    Calculated: 6 at end of 2022 → 10 at end of 2024
    Outlet exits (Item 20)

    Freedom Boat Club

    Not available
    No complete exit records for a year

    Ultimate Ninjas

    Not available
    No complete exit records for a year
    Franchising since (Item 1)

    Freedom Boat Club

    2011
    2026 FDD · Item 1 · PDF p. 8

    Ultimate Ninjas

    Not available
    Not in reviewed records
    Franchisor founded (Item 1)

    Freedom Boat Club

    2011
    2026 FDD · Item 1 · PDF p. 8

    Ultimate Ninjas

    Not available
    Not in reviewed records

    Financial performance (Item 19), by location group

    Freedom Boat Club

    Not disclosed — no Item 19 financial performance representation

    Ultimate Ninjas
    Locations counted not stated in the reviewed record — NorthShore
    $756,206
    other NorthShore center
    2026 FDD · Item 19 · PDF p. 56
    Locations counted not stated in the reviewed record — Anaheim
    $496,058
    other Anaheim center
    2026 FDD · Item 19 · PDF p. 56
    Locations counted not stated in the reviewed record — Chicago
    $746,067
    other Chicago center
    2026 FDD · Item 19 · PDF p. 56
    +8 more groups in the full report

    Item 19 groups are shown separately and never combined. Revenue or sales figures are not profit. Net outlet change and turnover are Franopolis calculations from the disclosed counts; turnover is a count-based rate, not a measure of owner earnings.

    Freedom Boat Club vs Ultimate Ninjas: common questions

    Which costs less to open, Freedom Boat Club or Ultimate Ninjas?
    Freedom Boat Club: $263,500 – $622,500 (2026 FDD · Item 7 · PDF p. 22); Ultimate Ninjas: $269,000 – $1,195,000 (2026 FDD · Item 7). These are each franchisor's Item 7 estimated initial investment. The low end of the disclosed estimate is lower for Freedom Boat Club. At least one range spans several business formats. Estimates are not quotes, and the FDD years may differ.
    How do Freedom Boat Club and Ultimate Ninjas royalties compare?
    Freedom Boat Club: 6% · percentage of Gross Revenues; subject to Minimum Royalty (2026 FDD · Item 6 · PDF p. 15); Ultimate Ninjas: $50,000 (2026 FDD · Item 6 · PDF p. 14). Royalties as disclosed in Item 6; other recurring fees are listed separately.
    Which has more locations, Freedom Boat Club or Ultimate Ninjas?
    Freedom Boat Club: 437 (2026 FDD · Item 20 · PDF p. 48); Ultimate Ninjas: 10 (2025 FDD · Item 20 · PDF p. 55). Total outlets from Item 20. Outlet counts do not indicate territory availability or franchisee results.
    Do Freedom Boat Club and Ultimate Ninjas disclose financial performance (Item 19)?
    Freedom Boat Club makes no Item 19 financial performance representation; Ultimate Ninjas has reviewed Item 19 figures for 11 location groups. Different location groups are not directly comparable, and revenue is not profit.

    Answers restate the reviewed figures above. Not a ranking or recommendation.

    How Franopolis reviews FDD figures

    Keep researching

    Full Freedom Boat Club report

    Every reviewed fee, Item 19 group, outlet table and territory disclosure

    Full Ultimate Ninjas report

    Every reviewed fee, Item 19 group, outlet table and territory disclosure

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