MY GYM Franchise Complaints

My Gym franchise opportunity:  Are you familiar with it?

If so, please share your experience, opinions or insights with a comment below.

My GymThe My Gym franchise information packet on the My Gym website claims “My Gym has grown by leaps and bounds in the last several years. We currently have over 200 locations and are in over 25 countries. We have been named as one of the top 300 franchises by Entrepreneur Magazine’s ‘Annual Top 500 Franchise List’ and also listed on their ‘Annual Top 200 International Franchise List’ for the past 5 years.”

My Gym claims that risk-reduction is a benefit of their franchise.  Their info packet states:

“THE BENEFITS OF BUYING A FRANCHISE

…in purchasing a well-structured franchise, you greatly minimize the risks and strains of starting a new business….

“Our pre-opening, post opening and continuing support to our franchisees is unparalleled in the field of franchising.

“My Gym Children’s Fitness Center is a proven, productive business with locations across the country.

“Comprehensive financial, marketing and administrative systems help you avoid the mistakes and perils independent business owners must combat alone.”

However, according to Entrepreneur, My Gym locations declined from 179 US franchises in 2008 to 152 in 2011

According to data released by the Small Business Administration (SBA), My Gym franchise owners who qualified for SBA-backed franchise loans have an outrageously high loan failure rate of 51%.

That earns My Gym a spot in UnhappyFranchisee.com’s list of WORST FRANCHISES IN AMERICA (by SBA loan defaults)

My Gym franchise owners have an outrageous 51% SBA default rate.

The apparent drop in My Gym franchises in recent years and the high loan default rates are franchise due diligence red flags.

My Gym Franchise
My Gym U.S. franchises in 2008: 179
My Gym U.S. franchises in 2011: 152
Growth in franchise units 2008 – 2011 (#) -27
Growth in franchise units 2008 – 2011 (%): -15%
SBA loans granted since 2001: 68
SBA loan failure rate: 51%
Sources: Entrepreneur (growth), Coleman report (SBA)

The inability to repay an SBA-backed loan (or any franchise loan, for that matter) indicates a serious situation for the franchisee.

It’s likely that My Gym franchise owners who received SBA loans may have collateralized their franchise loan with their homes or other personal assets, and many were unable to repay those franchise loans… despite the serious incentive to do so.

Are you familiar with the My Gym franchise opportunity?

What do you think accounts for the SBA loan failure rate of My Gym franchise owners?

What steps should My Gym be taking to stop further franchise failures?

Has My Gym taken serious action to address the problems that led to these loan failures?

Please share a comment (anonymous is fine) or Contact UnhappyFranchisee.com.

If you are a My Gym franchise representative or employee, please feel free to leave a comment or email us at UnhappyFranchisee[at]gmail.com.

ARE YOU FAMILIAR WITH THE MY GYM FRANCHISE OPPORTUNITY? 

ARE YOU A CURRENT OR FORMER MY GYM FRANCHISE OWNER? 

PLEASE SHARE A COMMENT BELOW.

Contact UnhappyFranchisee.com

My Gym, My Gym franchise, My Gym franchise complaints, My Gym complaints,  My Gym Enterprises, MGE, children’s franchise, Kid’s franchise, fitness franchise, gym franchise, children’s gym franchise, franchise failure rates, SBA franchise loans, worst franchises, Cory Bertisch, Jamie Bertisch, Mike Chalovich, Monique Vranesh, Randy Bertisch, Susi Sherman, Yacov Sherman

20 thoughts on “MY GYM Franchise Complaints

  • July 24, 2013 at 11:32 pm
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    I opened my franchise of My Gym in 2004. It has been difficult along the way but the support from My Gym Enterprises has been amazing. My Gym is a wonderful program that focuses on child development and physical fitness.
    I can’t imagine owning any other business and I would be happy to speak with anyone about my experience.

  • August 27, 2013 at 5:50 pm
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    Hi Lorna – My wife and I are considering a fixed location My Gym, we’re researching as much as we can. It’d be great to hear more about your experiences, please let me know if you’d like to connect.

  • December 29, 2013 at 12:29 am
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    Hi Lorna, Adrien and Wendy,

    We are also thinking about owning a My Gym fixed franchise and would love to hear any experiences and personal opinions on your decisions so far.

    Please let me know if you are interested in sharing, thanks.

  • March 5, 2014 at 12:21 pm
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    Good morning, we are also looking for more information about My Gym franchise, if you guys had any experience or found something you didn’t like or actually went through with the idea please let me know!

    Thank you!!!!

  • March 12, 2014 at 2:32 pm
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    I would love to hear your thoughts on owning a MyGym franchise.

    Thanks!

  • June 28, 2014 at 3:24 pm
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    Hi,we are also looking into my gym franchise. Would love to hear your thoughts- pros and cons.Thank you very much.

  • October 6, 2014 at 8:47 am
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    Hello, I would love to hear the pros and/or cons about franchising a MyGym as well. I am very interested in the franchise business.

  • November 3, 2014 at 6:54 pm
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    I am very interested in any information on My Gym franchise. I just recently came across a location in Exton, PA and was thinking it would be an asset to my hometown in Arkansas.

    Thank you in advance.

  • December 16, 2015 at 2:02 pm
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    Owning a My Gym for the past 10 years was the best business decision I ever made. It has been very profitable and the assistance from corporate if ever needed was immediate. I can’t say enough about how wonderful this franchise is and how good it makes you feel to just walk in the door.

  • September 15, 2016 at 1:20 pm
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    Hi Beth,
    I would love to talk to you about your experiences owning a My Gym. I am very interested in opening a fixed locations and would like to hear more about the business advantages and disadvantages.

  • September 26, 2016 at 4:45 pm
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    What does the average gym turn per year in profit?

  • October 6, 2016 at 1:24 pm
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    Hello,
    If someone could also provide me with the pros and cons for owning a my gym it’d be much appreciated! I’m very interested.

  • January 22, 2017 at 2:56 pm
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    I’m also interested in opening a my gym and would love to hear from others who have experience – both pros and cons.

  • January 24, 2017 at 4:12 pm
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    If anyone who has started one of these in the last two years could share their experiences, good and bad, that would be great. I’m considering a permanent location. Thank you.

  • February 22, 2017 at 4:41 pm
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    Would be interested in learning more from anyone who has opened a my gym in the last 2 years

  • July 25, 2017 at 10:27 am
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    Thinking of purchasing an up and running “My Gym” franchise both fixed and mobile and I really need all the advise I can gather!! Please reach out to me to discuss!

  • August 1, 2017 at 11:19 am
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    To those of you considering purchasing a My Gym – Your Franchise Disclosure Document (FDD) should provide the names of previous and current owners. Make sure you speak to several previous and current owners and not just ones that My Gym provide as references. If you’re purchasing an existing location, make sure you understand the real reason the location is up for sale. You should also look into how many owners that location has had – lots of changes in ownership is a red flag.

    Before signing anything, talk to owners and have your contract reviewed. We constantly hear from people after they sign, making it much more difficult to fight any issues. If you’d like to talk to us about a potential franchise investment, please contact us, no obligation. (Feel free to look us up on this site, our most recent case was against another fitness franchise – Curves)

  • August 1, 2017 at 6:05 pm
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    I am a former My Gym owner. I loved it! There were ups and downs as there will be with any business. What I did find was that My Gym had a great support system in place. If I needed anything, someone would help. I stopped operations and sold my locations because I got tired of it, I had always said when it was not fun for me anymore, it was time to go. The locations continue to thrive under new ownership.

  • August 3, 2017 at 12:56 am
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    I am interested in opening a soft play for children, but if a franchise is the way to go or do it alone

  • August 8, 2017 at 12:33 am
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    Hello,
    I’m interested in franchising in Canada. I would love to connect with experienced franchise owners. Thank you

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