Vanguard Key Clubs Franchise Cost, Revenue & Review 2026
Data from FDD filing
Analysis by FranchiseVerdict Research · Methodology
Vanguard Key Clubs is a fitness franchise operating 24-hour, keycard-access gyms with no front-desk staff. Franchisees run the clubs, managing memberships, equipment, and facility maintenance.
FranchiseVerdict summary · 2026
A Vanguard Key Clubs franchise requires a total initial investment of $207K – $528K, including a $40K franchise fee and an ongoing 5.0% royalty[2]. The 2025 FDD does not disclose unit-level revenue (no Item 19). FranchiseVerdict grade: C (Average), an editorial assessment, not investment advice. Run a live ROI scan →
Data last verified · figures per the 2025 FDD issuance
Overview
- Investment
- $207K – $528K
- 37th pct Health & Fitn…
- Avg gross sales
- N/A
- Royalty
- 5.0%
- 1st pct Health & Fitn…
- Units
- 6
- 27th pct Health & Fitn…
- SBA charge-off
- N/A
Quick verdict · Health & Fitness · color = vs category peers
Green = favorable by >10% vs Health & Fitness avg · No shading = within ±10% · Red = unfavorable by >10% · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
Bottom line
- COSTTotal investment $207K – $528K including a $40K franchise fee, 5.0% ongoing royalty.
- RETURNSNo Item 19 financial performance data disclosed. The franchisor chose not to publish revenue figures.
- RISKVerdict C (Average), verdict score 40/100 (higher is better).
- DATANo Item 19 financial performance representation. Without franchisor-disclosed revenue data, you'll need to gather unit economics directly from existing franchisees.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Key Club Development Corporation
- Ultimate parent
- CJA Corporation
- CEO title
- President and Chief Executive Officer
- Craig J. Annis
- CEO experience
- 30 yrs
- Years in role or industry
- Founder active
- Yes
- Original founder still leading the business
- Incorporated in
- New Hampshire
- HQ
- 200 Kensington Rd., Hampton Falls, NH 03844
- Auditor
- Citrin Cooperman & Company, LLP
- Audited financials
Overview
About
- CEO
- Craig J. Annis
- Headquarters
- NH
- Founded
- 2017
- FDD year
- 2025
- States available
- 3
Can you afford it, and what does the money buy?
Entry cost runs 36% below the typical health & fitness franchise.
Source: FDD 2025 · Items 5–7
FDD Item 7 · 2025 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $40K | $40K |
| Working capital (3–6 mo) | $30K | $60K |
| Equipment, build-out, other | $137K | $428K |
| Total initial investment | $207K | $528K |
Source: Vanguard Key Clubs 2025 FDD, Items 5 and 7[2]. “Equipment, build-out, other” is computed as total minus disclosed line items above.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $207K – $528K
- Top 40% of category vs category
- Liquid capital req'd
- $30K – $60K
- Middle of category vs category
- Franchise fee
- $40K – $40K
- Top 40% of category vs category
- Royalty
- 5.0%
- percentage_of_gross · typical 6–8%
- Ad fund
- 2.0%
- typical 3–5%
- Total fee load
- 7.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 5.0% of gross sales |
| Marketing / ad fund | 2.0% of gross sales |
| Technology fee | $400 |
| Transfer fee | $10K |
| Renewal fee | $10K |
| Total fee load | 7.0% of rev |
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
Vanguard Key Clubs did not disclose financial performance in FDD Item 19. The ROIC and return models require Item 19 revenue. Without it all inputs are estimates. You can still run the calculator with your own assumptions by entering an expected revenue figure.
Returns model · single-unit ROIC
What would one Vanguard Key Clubs unit return on the cash you put in?
Unlevered ROIC · per unit
Estimated return on your total franchise investment, before any debt financing.
56%
Within the 30–60% "attractive franchise" band
These models are for research and scenario planning only. Not investment advice. Actual results depend on your specific location, management, and market conditions. Consult a franchise attorney and accountant before signing any franchise agreement.
Item 19 · Source: 2025 FDD
Financial Performance
This franchisor did not disclose financial performance representations in Item 19, or our extractor could not parse them.
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Fee burden
Total ongoing fee load of 7.0% — below the Health & Fitness average of 8.4%.
Disclosure
Franchisor chose not to disclose financial performance representations. You will need to gather unit economics directly from existing franchisees.
Source: FDD Item 19 financial performance representations and publicly filed FDD data. Past performance is not indicative of future results. Verify all figures with the franchisor and current franchisees before making any investment decision.
vs Health & Fitness averages
How Vanguard Key Clubs Compares
Is the system healthy?
Source: FDD 2025 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 6
- Opened
- 0
- 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
- 6
- Corporate units in the system
- % franchised
- 0%
- vs corporate-owned
3-year detail · Item 20
- Opened (3yr)
- 0
- Closed (3yr)
- 0
- Terminated (3yr)
- 0
- Non-renewed (3yr)
- 0
- Transfers (3yr)
- 0
- Reacquired (3yr)
- 0
- Franchisor bought back
- Projected new
- 0
- Franchisor's next-year forecast
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 12 · 3 states reported
The Territory Map
FDD Item 12 reports the state count, but the specific list isn't in our current data. The map will appear once we re-extract from the FDD or enough franchisee contacts are available.
3
states with franchisees (per FDD Item 12)
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.
What could kill this investment?
Source: SBA 7(a) FOIA · FDD Items 3, 21
Risk analysis
FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21
Risk & Legal
Pre-opening fitness franchisor (began 2024) with 6 company-owned units, zero franchised, and no Item 19. No litigation, bankruptcy, or going-concern issues; financials audited. Risk reflects brand-new status and total lack of franchisee track record.
Litigation (Item 3)
No litigation required to be disclosed (FDD Item 3).
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Citrin Cooperman & Company, LLP
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- Kickbacks from required suppliers: Yes
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: No
Score breakdown · what drove the 40 / 100 verdict
- 01MINORPre-opening (is_pre_opening=true), began 2024
- 02MINOR6 company-owned units, 0 franchised
- 03MINORNo Item 19 disclosure
- 04MINORNo litigation/bankruptcy/going-concern; audited
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 7.0% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2025 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 10 years |
|---|---|
| Renewal term | 5 years |
| Allowed renewalsℹ | 2 |
| Territory type | Zip Codes |
| Protected territory | Yes |
| Online sales rightsℹ | Granted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| 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 | Yes |
| Arbitration location | New Hampshire |
| Jury trial waiver | Yes |
| Governing law | New Hampshire |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation required to be disclosed (FDD Item 3).
Items 10, 11
Training & Operations
- Classroom training
- 13 hrs
- On-the-job training
- 8 hrs
- Training location
- Affiliate's New Hampshire locations or designated location
- Ongoing training
- Required
- Field support
- 40 hrs/yr
- On-site visits per year
- POS system
- ClubAutomation
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: ClubAutomation
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Vanguard Key Clubs franchise?
The total investment to open a Vanguard Key Clubs franchise ranges from $207K – $528K, with an initial franchise fee of $40K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Vanguard Key Clubs franchise owners earn?
Vanguard Key Clubs does not disclose average franchise owner earnings in their FDD Item 19. Not all franchisors are required to make financial performance representations. We recommend asking existing franchisees directly about their financial experience.
What is Item 19 in the Vanguard Key Clubs FDD?
The FDD section where a franchisor may disclose financial performance of its outlets. Disclosure is optional and formats vary; figures are typically gross sales, which is revenue before expenses, not profit. FranchiseVerdict extracts these figures directly from the Vanguard Key Clubs FDD and qualifies whose outlets they describe.
What is Vanguard Key Clubs's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Vanguard Key Clubs (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 Vanguard Key Clubs franchise locations are there?
As of their most recent FDD filing, Vanguard Key Clubs has 6 total units in the United States, including 0 franchised units and 6 company-owned units.
Is Vanguard Key Clubs a good franchise to buy?
FranchiseVerdict rates Vanguard Key Clubs as a C-grade franchise with a verdict score of 40 out of 100 (higher is better), 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.
For franchisors
Are you the franchisor?
If you represent Vanguard Key Clubs, you can request corrections or provide updated information.
Other Health & Fitness franchises
Compare similar franchise opportunities in the Health & Fitness category
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.