Another NineFranchise Cost, Revenue & Review 2026
Data from FDD filing
FranchiseVerdict summary · 2026
A Another Nine franchise requires a total initial investment of $334K – $824K, including a $50K franchise fee and an ongoing 7.0% royalty[2]. Per the 2025 FDD, average unit revenue was $261K[2]. Verdict grade: A. Run a live ROI scan →
Data last verified June 18, 2026 · figures per the 2025 FDD issuance
Overview
- Investment
- $334K – $824K
- 25th pct Recreation & …
- Avg gross sales
- $261K
- 5th pct Recreation & …
- Royalty
- 7.0%
- 18th pct Recreation & …
- Units
- 1
- 4th pct Recreation & …
- SBA default
- N/A
Quick verdict · Recreation & Entertainment · color = vs category peers
Green = >15% above Recreation & Entertainment avg · No shading = within ±15% · Red = >15% below avg · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
At 0.5x revenue per dollar invested, this system underperforms the typical 1.5-2.5x range.
Started franchising in 2025. Newer systems carry more uncertainty but may offer better territories.
Bottom line
- Total investment $334K – $824K including a $50K franchise fee, 7.0% ongoing royalty.
- Average unit revenue of $261K/year.
- Verdict A (Top Quintile) with a risk score of 52/100.
- Revenue data based on only 1 reporting unit. Treat as directional, not definitive. Ask franchisees directly for current unit economics.
Item 1 · who you're contracting with
The Franchisor
- Legal entity
- Another Nine, LLC
- Parent company
- Another Nine Holdings, Inc.
- Incorporated in
- OH
- HQ
- 727 Madison Ave, Covington, KY 41011
- Auditor
- Naper CPA Group
- Audited financials
Overview
About
Another Nine franchisees appear to operate a service or retail-based business model, though specific industry details are not disclosed. With average revenues of $261,168 and net income of $143,574 from one location, day-to-day operations likely involve direct customer service, inventory management, and local marketing.
- CEO
- Ethan Grob
- Headquarters
- KY
- Founded
- 2023
- FDD year
- 2025
- States available
- 0
FDD Item 7 · 2025 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $50K | $50K |
| Working capital (3–6 mo) | $34K | $38K |
| Equipment, build-out, other | $250K | $737K |
| Total initial investment | $334K | $824K |
Source: Another Nine 2025 FDD, Items 5 and 7[2]. “Equipment, build-out, other” is computed as total minus disclosed line items above.
Single-unit · estimated
Returns at a glance
Indicative numbers using FDD Item 7 / Item 19 inputs and category-benchmarked cost ratios. Full single-unit, 25-unit portfolio, and LBO models (with every input editable to stress-test your own scenario) live on the financials page.
Store EBITDA · annual
$39K
15.0% margin
Unlevered ROIC
6%
EBITDA / total invested capital
Payback
15.7 yrs
cash-on-cash, unlevered
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $334K – $824K
- Better than avg vs category
- Liquid capital req'd
- $34K – $38K
- Better than avg vs category
- Franchise fee
- $45K – $50K
- Better than avg vs category
- Royalty
- 7.0%
- Gross Sales · typical 6–8%
- Ad fund
- 1.0%
- typical 3–5%
- Total fee load
- 8.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 7.0% of gross sales |
| Marketing / ad fund | 1.0% of gross sales |
| Technology fee | $350 |
| Transfer fee | $10K |
| Renewal fee | $12K |
| Total fee load | 8.0% of rev |
Financial Performance
- Avg gross sales
- $261K
- Per unit, per year
- Median gross sales
- N/A
- Item 19 type
- Actual performance of one company-owned indoor golf facility
- Sample size
- 1 units
- vs category median 5 · small
- Transparency
- 6 / 5
- vs category median 4 / 5 · above
Compared against 176 Recreation & Entertainment brands
Revenue is only 0.5x the investment. This means each unit may take 5+ years to recoup the initial outlay at typical margins.
vs Recreation & Entertainment averages
How Another Nine Compares
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 1
- Opened
- 0
- Last reporting year
- Closed
- 0
- Turnover rate
- 0.0%
- Company-owned
- 1
- Corporate units in the system
- % franchised
- 0%
- vs corporate-owned
3-year detail · Item 20
- Transfers (3yr)
- 0
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 15 states with active franchisees
The Territory Map
Derived from franchisee contact records. Shows states with at least one current operator. Not where the franchisor is registered to sell new units (that data is re-extracting in a future refresh).
States derived from franchisee contact records (FDD Item 20). Shows states with at least one current operator on file. Full state registration data (Item 12) will appear on a future FDD refresh.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
No SBA loan data available for this brand.
Risk analysis
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
Another Nine presents HIGH RISK due to going concern status, single-unit system, unverified financials, and unclear growth potential.
Audited financials (Item 21)
Yes · Naper CPA Group
Score breakdown · what drove the 52 / 100 rating
- 01HIGHGoing Concern warning indicates the franchisor may lack financial viability or operational stability
- 02MINOROnly 1 operating unit suggests either brand is pre-revenue stage or has experienced complete system collapse
- 03MINORWide investment range ($333,950–$824,350) with single unit data makes ROI projections unreliable and suggests high cost variability
- 04MINORNo Item 19 financial performance representation limits ability to validate the $143,574 net income claim independently
- 05MINORUnknown growth trajectory with only one franchisee provides zero evidence of replicable business model or scalability
Severity inferred from the FDD text · not a regulatory classification
FDD Items 5, 6, 12, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 10 years |
|---|---|
| Renewal term | 10 years |
| Allowed renewalsℹ | 1 |
| Territory type | Designated Territory (Zip codes, streets, landmarks, or radius) |
| Protected territory | Yes |
| Online sales rights | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 2 years |
| Right of first refusalℹ | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | Yes |
| Jury trial waiver | Yes |
| Governing law | Ohio |
| Litigation count | 0 |
Items 10, 11
Training & Operations
- Classroom training
- 7 hrs
- On-the-job training
- 1 hrs
- POS system
- A9OS
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: A9OS
Item 20 · call current owners
Franchisee Contacts
22 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Another Nine · FDD (2025) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Another Nine franchise?
The total investment to open a Another Nine franchise ranges from $334K – $824K, with an initial franchise fee of $50K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Another Nine franchise owners earn?
According to Item 19 of the Another Nine FDD, the average gross sales per unit is $261K. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
What is Another Nine's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Another Nine (fewer than 10 loans on file). Charge-off rates are one way to gauge franchise risk, but not all franchise loans go through the SBA program. We recommend reviewing turnover and closure data in the FDD and speaking with current franchisees.
How many Another Nine franchise locations are there?
As of their most recent FDD filing, Another Nine has 1 total units in the United States, including 0 franchised units and 1 company-owned units.
Is Another Nine a good franchise to buy?
FranchiseVerdict rates Another Nine as a A-grade franchise with a risk score of 52 out of 100, based on our analysis of investment costs, revenue data, SBA loan performance, and growth trends. Our rating is based solely on publicly available FDD and government data; we recommend speaking with current franchisees before making any investment decision. This is not investment advice.
Data sourced from public FDD filings and SBA 7(a) FOIA records. Not financial advice.
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Data extracted from public FDD filings and SBA 7(a) loan disclosures (FOIA). This information is provided for research purposes only and does not constitute financial, legal, or investment advice. Verify all figures with the franchisor's current Franchise Disclosure Document before making any investment decision.