USA Ninja ChallengeFranchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
FranchiseVerdict summary · 2026
A USA Ninja Challenge franchise requires a total initial investment of $413K – $644K, including a $60K franchise fee and an ongoing 7.5% royalty[2]. Per the 2025 FDD, average unit revenue was $304K[2]. SBA 7(a) loans show a 12.5% charge-off rate across 31 loans[1]. Verdict grade: A. Run a live ROI scan →
Data last verified June 21, 2026 · figures per the 2025 FDD issuance
Overview
- Investment
- $413K – $644K
- 75th pct Health & Fitn…
- Avg gross sales
- $304K
- 12th pct Health & Fitn…
- Royalty
- 7.5%
- 54th pct Health & Fitn…
- Units
- 32
- 65th pct Health & Fitn…
- SBA default
- 12.5%
- system-wide median varies by category
Quick verdict · Health & Fitness · color = vs category peers
Green = >15% above Health & Fitness 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 0.6x revenue per dollar invested, this system underperforms the typical 1.5-2.5x range.
Franchised units fell from 31 to 21 over 3 years. Investigate why operators are leaving.
Bottom line
- Total investment $413K – $644K including a $60K franchise fee, 7.5% ongoing royalty.
- Average unit revenue of $304K/year (median $261K).
- Verdict A (Top Quintile) with a risk score of 32/100. SBA loan charge-off rate of 12.5% across 31 loans (above the 16% franchise average, based on all SBA 7(a) franchise lending, 2010–2024).
- System growing at 47.6% CAGR over 3 years with 32 total units. Strong expansion trajectory.
Item 1 · who you're contracting with
The Franchisor
- Legal entity
- Ninja Franchising, Inc.
- Incorporated in
- DE
- HQ
- 14 Chenell Drive, Concord, NH 03301
- Auditor
- Kezos & Dunlavy, LLC
- Audited financials
- Franchisor revenue
- $1.5M
- vs $2.7M prior year
Overview
About
USA Ninja Challenge franchisees operate indoor obstacle course and ninja warrior training facilities targeting children and families. Day-to-day operations include managing class schedules, instructing/supervising participants on obstacle courses, maintaining equipment safety, and generating revenue through memberships, drop-in classes, birthday parties, and special events.
- CEO
- Dale Grant
- Headquarters
- NH
- Founded
- 2015
- FDD year
- 2025
- States available
- 14
FDD Item 7 · 2025 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $60K | $60K |
| Working capital (3–6 mo) | $60K | $60K |
| Equipment, build-out, other | $293K | $524K |
| Total initial investment | $413K | $644K |
Source: USA Ninja Challenge 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
$88K
29.0% margin
Unlevered ROIC
15%
EBITDA / total invested capital
Payback
6.7 yrs
cash-on-cash, unlevered
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $413K – $644K
- Below avg, review vs category
- Liquid capital req'd
- $60K – $60K
- Below avg, review vs category
- Franchise fee
- $60K – $60K
- Below avg, review vs category
- Royalty
- 7.5%
- Gross Revenue · typical 6–8%
- Ad fund
- 1.5%
- typical 3–5%
- Total fee load
- 9.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 7.5% of gross sales |
| Marketing / ad fund | 1.5% of gross sales |
| Transfer fee | $15K |
| Renewal fee | $0 |
| Total fee load | 9.0% of rev |
Financial Performance
- Avg gross sales
- $304K
- Per unit, per year
- Median gross sales
- $261K
- Item 19 type
- Gross Income
- Sample size
- 18 units
- vs category median 11
- Range (low → high)
- $98K→$664K
- Cohort dispersion (min → max)
- Reporting year
- 2024
- Fiscal year the figures cover
- Transparency
- 4 / 5
- vs category median 4 / 5 · typical
Compared against 180 Health & Fitness brands
Revenue is only 0.6x the investment. This means each unit may take 5+ years to recoup the initial outlay at typical margins.
vs Health & Fitness averages
How USA Ninja Challenge Compares
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 32
- Opened
- 8
- Last reporting year
- Closed
- 0
- Terminated
- 0
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- 0.0%
- Company-owned
- 1
- Corporate units in the system
- % franchised
- 97%
- vs corporate-owned
- Net growth (yr3)
- +29.2%
- Net unit change last year
- 3-yr CAGR
- +47.6%
- Compounded over last 3 years
3-year detail · Item 20
- Transfers (3yr)
- 5
- Projected new
- 19
- Franchisor's next-year forecast
- Transfer rate
- 15.6%
- Owners selling to other franchisees
- Ceased ops
- 3.1%
- Units that stopped operating
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 23 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.
Fast growth in a small system. Newer franchisors expanding quickly may not yet have the support infrastructure of larger systems.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
- Total loans
- 31
- Loan volume
- $10.5M
- Median loan
- $225K
- 50th percentile
- Charge-off rate
- 12.5%
- rates vary by category · see methodology
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- 87.5%
- 5-yr charge-off
- 0.0%
- Loans approved 2021+
- Active lenders
- 17
- Defaults
- 1
Explore lender portfolios on Bank Reports or regional data on State Reports.
Premium insight
SBA Lending Report
Deep-dive into USA Ninja Challenge's SBA lending history: lender network, geographic footprint, interest rates, and more.
SBA Lending Report
- Principal loss rate and NAICS industry benchmark
- 10 lenders with concentration factor
- Per-state charge-off rates across 11 states
- Startup risk premium and job creation velocity
- 9-year lending trend
- SBA 504 real estate/equipment data
Instant access. No subscription.
Risk analysis
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
Undisclosed profitability metrics and corporate going concern status present material risk despite revenue growth; insufficient data to validate ROI on $413k-$644k investment.
Litigation (Item 3)
No litigation required to be disclosed
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Kezos & Dunlavy, LLC
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- Kickbacks from required suppliers: No
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: No
Score breakdown · what drove the 32 / 100 rating
- 01MEDNo Item 19 (Average Net Income) disclosed — cannot validate actual profitability against $413k-$644k investment
- 02HIGHGoing Concern = False indicates potential financial instability at corporate level despite 29.2% unit growth
- 03MEDHigh royalty burden (7.5%) combined with undisclosed net income creates uncertainty on actual take-home profit
- 04MEDOnly 32 units is a small franchise system with limited track record; 29.2% YoY growth may not be sustainable
- 05MINORAverage revenue of $304k against investment range suggests thin margins and extended payback period
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 | 2 |
| Territory type | Population |
| Protected territory | Yes |
| Exclusive territoryℹ | Yes |
| Territory population | 100,000 |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 25 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | No |
| Arbitration location | Concord, New Hampshire |
| Jury trial waiver | Yes |
| Governing law | New Hampshire |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation required to be disclosed
Items 10, 11
Training & Operations
- Classroom training
- 122 hrs
- On-the-job training
- 0 hrs
- Training location
- franchisee location
- Ongoing training
- Required
- Field support
- 32 hrs/yr
- On-site visits per year
- Time to open
- 15 mo
- From signing to launch
Items 5 & 11
Franchisor Support
Item 20 · call current owners
Franchisee Contacts
56 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
USA Ninja Challenge · FDD (2025) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a USA Ninja Challenge franchise?
The total investment to open a USA Ninja Challenge franchise ranges from $413K – $644K, with an initial franchise fee of $60K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do USA Ninja Challenge franchise owners earn?
According to Item 19 of the USA Ninja Challenge FDD, the average gross sales per unit is $304K. The median is $261K. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
What is USA Ninja Challenge's franchise failure rate?
Based on SBA 7(a) loan data, USA Ninja Challenge has a charge-off rate of 12.5% across 31 loans, meaning 12.5% of franchise loans were charged off. Charge-off rates are one proxy for franchise risk, though they do not capture all closures. This data comes from FOIA-sourced SBA lending records.
How many USA Ninja Challenge franchise locations are there?
As of their most recent FDD filing, USA Ninja Challenge has 32 total units in the United States, including 31 franchised units and 1 company-owned units. 8 new units were opened in the latest reporting year.
Is USA Ninja Challenge a good franchise to buy?
FranchiseVerdict rates USA Ninja Challenge as a A-grade franchise with a risk score of 32 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.