About Fitness Machine Technicians FMT Franchise
Fitness Machine Technicians (FMT) is an exercise equipment maintenance and repair franchise operated under Powersmith, Inc.
With franchise fees ranging from $40,000 to $45,000 and franchising since 2012, the brand provides a specialized service business focused on keeping fitness equipment running smoothly for a diverse range of commercial and residential clients.
FMT franchise owners serve colleges, universities, hotels, apartment buildings, corporate fitness centers, and individual equipment owners who need professional maintenance and repair for their exercise machines.
Fitness Machine Technicians FMT Franchise Cost & Fees
Minimum Investment
$71K
Average Investment
$95K
Maximum Investment
$118K
| Fee Type | Amount | Notes |
|---|---|---|
| Initial Franchise Fee | $40,000 to $45,000 | One-time payment upon signing |
| Royalty Fee | 6% of the first $499,999 of Gross Sales each calendar year; 5% of Gross Sales in excess of $500,000 each calendar year. of gross sales | Ongoing; paid monthly |
| Marketing/Ad Fund | Brand Development Fee: Up to 2% of Gross Sales (currently 1%). Local Advertising: $1,000 per month or 1% of your Gross Sales, whichever is greater, beginning in month 4. | National brand fund |
| Total Investment Range | $71,450 – $118,490 | Includes build-out, inventory, working capital |
The investment range of $71K–$118K reflects variability in build-out costs, store size, lease terms, and market. The combined royalty (6% of the first $499,999 of Gross Sales each calendar year; 5% of Gross Sales in excess of $500,000 each calendar year.) and marketing fee (Brand Development Fee: Up to 2% of Gross Sales (currently 1%). Local Advertising: $1,000 per month or 1% of your Gross Sales, whichever is greater, beginning in month 4.) are ongoing costs paid as a percentage of gross sales.
Investment Breakdown (Item 7)
| Item | Low | High |
|---|---|---|
| Initial Franchise Fee (1) | $40,000 | $45,000 |
| Rent (3 months) (2) | $0 | $3,600 |
| Leasehold Improvements (2) | $0 | $5,000 |
| Equipment, Furnishings and Fixtures (3) | $500 | $2,000 |
| Signage (4) | $1,800 | $3,500 |
| Initial Inventory and Operating Supplies (5) | $0 | $3,000 |
| Security Deposits (6) | $0 | $2,400 |
| Insurance (3 months) (7) | $2,500 | $5,000 |
| Training Expenses (8) | $1,100 | $3,600 |
| Computer System/ Software (9) | $1,200 | $2,500 |
| Permits/Licenses (10) | $100 | $200 |
| Service Vehicle (3 Months) (11) | $1,350 | $1,950 |
| Professional Fees (12) | $1,500 | $5,000 |
| Grand Opening Advertising (13) | $12,500 | $14,500 |
| Service Technician (14) | $3,900 | $6,240 |
| Additional Funds (15) | $5,000 | $15,000 |
Additional Fees (Item 6)
| Fee Type | Amount |
|---|---|
| Transfer Fee | 25% of our then-current initial franchise fee, plus any broker fee payable by us as a result of your transfer. |
| Renewal Fee | 25% of our then-current initial franchise fee |
| Technology Fee | Estimated at $100 to $250 per month |
| Audit Fee | Will vary under the circumstances, but not less than $1,000 |
| Grand Opening Advertising | For a Large Territory, $14,500 to $28,000. For a Medium Territory, $12,500 to $23,000. Additional minimum of $4,000 to $8,000 for each additional Large Territory or $3,000 to $5,000 for an additional medium territory. |
| Cooperative Advertising | As determined by the cooperative members |
| Initial Training Fee (Additional or Replacement Employees) | $500 plus expenses |
| On-Site Assistance or Training | $500 per diem fee per trainer, plus expenses |
| Refresher Training | $200 to $700, plus expenses |
| Manufacturer’s Certification | $100 to $600, as charged for Original Equipment Manufacturer training by the manufacturer to obtain Manufacturer Certification |
| Product or Supplier Evaluation | $500 |
| Insurance | Reimbursement of our costs |
| Management Fee | 25% of Gross Sales, plus expenses |
| Mystery Shopper Service | Up to $500 |
| Computer System Maintenance | Up to $1,000 Annually |
| Insufficient Funds Fee | $75 |
| Late Fee | $100 |
| Interest | 18% per annum or the highest legal rate we can charge, whichever is less |
| Costs and Attorneys’ Fees | Will vary under circumstances |
| Indemnification | Will vary under circumstances |
Training Program (Item 11)
| Detail | Information |
|---|---|
| Total Duration | approximately five days classroom training and 80 hours on-the-job training |
| Classroom Training | 15-17 |
| On-the-Job Training | 80 |
| Training Location | Malvern, Pennsylvania or at another location we designate |
| Additional Training | We may hold periodic refresher training classes, and we may designate that attendance at any refresher training program is mandatory unless absence is excused by us. |
Territory Rights (Item 12)
| Detail | Information |
|---|---|
| Territory Type | Exclusive |
| Exclusive Territory | Yes |
| Territory Size | A Large Territory includes a population of approximately 1,000,000 people. A Medium Territory includes a population of approximately 800,000 or fewer. |
| Description | A portion of a single county, an entire county or group of contiguous counties. Described in terms of street names, contiguous zip codes, town boundaries or county boundaries, or depicted on a map. |
Renewal, Termination & Transfer (Item 17)
| Detail | Information |
|---|---|
| Initial Term | 10 years |
| Renewal Term | Two renewal terms of 10 years each |
| Renewal Fee | 25% of our then-current initial franchise fee |
| Renewal Conditions | You must provide notice that you wish to renew your Franchise Agreement; you must be current in all payments and not in default of your Franchise Agreement; if we require, you must upgrade equipment; you must sign release, sign renewal Franchise Agreement and pay renewal fee. You may be asked to sign a contract with materially different terms and conditions than your original contract, but the boundaries of your territory will remain the same, and the fees on renewal will not be greater than the fees that we then impose on similarly situated renewing franchisees. |
| Transfer Fee | 25% of our then-current initial franchise fee, plus any broker fee payable by us as a result of your transfer. |
| Transfer Conditions | The proposed assignee must demonstrate that it has the skills, qualifications and economic resources necessary; the assignee must expressly assume in writing all of your obligations under the most current version of our Franchise Agreement; you shall have fully complied with all of your obligations to us; the assignee must execute the new Franchise Agreement; the assignee must satisfactorily complete the training; signed contract and related documentation must be furnished for prior written approval; the assignee shall not be affiliated in any way with a competitor of ours; you must have executed a general release. |
| Termination for Cause | Includes failure to pay fees; obtain approvals; comply with standards; use of unapproved products or services; improper use of the Marks or other confidential information; participation in a competing business; failure to maintain required insurance. Non-curable defaults include: bankruptcy; assignment for the benefit of creditors; abandonment; conviction of a felony; material misrepresentation in obtaining the franchise; violation of law; failure to complete training; violation of confidentiality, non-competition provisions; impermissible transfers; repeated defaults; maintain false books and records; three insufficient funds fees in any 12 month period; violation of anti-terrorism laws. |
| Non-Compete Period | During the term of the franchise and for two (2) years thereafter |
| Non-Compete Details | During term: not divert customers, not employ our personnel, not have interest in competing business. Post-term: not have interest in substantially same business within Territory, 20 miles of Territory perimeter, or 20 miles of any FMT customer location for 2 years. |
Operations & Supply (Items 8 & 15)
| Detail | Information |
|---|---|
| Owner-Operator Required | Yes |
| Participation Details | For the first six months of operation, you are required to oversee the daily operations of the Franchised Business. Thereafter, we expect that you will participate full-time in the day-to-day operation of the Franchised Business. If you do not participate in the daily operations after the first six months of operation, you must hire a manager to oversee the Franchised Business’ daily operation with our prior consent. Both owner and manager must satisfactorily complete our initial training. |
| Required Suppliers | All equipment, fixtures, furnishings, computer hardware and software, supplies and materials required for the operation of your Franchised Business must be purchased by you only from suppliers designated or approved in writing by us (which may include us or our affiliates), or from suppliers selected by you and whom we approve. |
| Supply Restrictions | You must purchase all replacement parts for repair of exercise equipment from the equipment manufacturers as long as the part is still being manufactured. You may only purchase replacement parts from another source, such as an “after market” seller, if a part has been discontinued or if we have given our prior written approval for you to do so. |
| Franchisor Revenue from Suppliers | Currently neither we nor our Affiliate are an approved supplier for any products or services you must purchase or lease, but we reserve the right to designate ourselves or our Affiliate as an approved supplier in the future. None of our officers has an ownership interest in any approved supplier. Neither we nor our affiliate received any Allowances from required purchases or leases by franchisees for the most recent fiscal year ending on December 31, 2020. |
Financing (Item 10)
| Detail | Information |
|---|---|
| Financing Available | No |
| Description | We do not offer direct or indirect financing. We do not guarantee your note, lease or obligation. |
Fitness Machine Technicians FMT Franchise Earnings — Item 19
Average Revenue
$193K
Median Revenue
$178K
Revenue Range
$47K – $373K
Sample Size
13 units
Past financial performance does not guarantee future results. Individual results will vary.
Fitness Machine Technicians FMT Litigation & Risk Flags
Clean Litigation RecordFitness Machine Technicians FMT has no pending litigation actions listed in their FDD. There is also no bankruptcy history disclosed.
Litigation and bankruptcy data is sourced from Items 3 and 4 of the FDD. Always verify current status directly from the most recent FDD.
Fitness Machine Technicians FMT System Growth
Total Units
37
Franchised
36
Company-Owned
1
Fitness Machine Technicians FMT currently operates 36 franchised locations and 1 company-owned units. Unit count data is sourced from Item 20 of the FDD.
Unit History (Item 20)
| Year | Opened | Closed | Total |
|---|---|---|---|
| 2018 | 12 | 0 | 14 |
| 2019 | 26 | 0 | 40 |
| 2020 | 2 | 5 | 37 |
Transfers: 1 | Closures: 5
State Registrations
Registered in 19 states: California, Connecticut, Florida, Illinois, Indiana, Kentucky, Maryland, Michigan, Minnesota, Nebraska, New York, North Dakota, Rhode Island, South Dakota, Texas, Utah, Virginia, Washington, Wisconsin
Franchisor Financials (Item 21)
Revenue
$636K
Net Income
$141K
Total Assets
$2.2M
Audited by EISNERAMPER LLP for year ending December 31.
Fitness Machine Technicians FMT Franchise — FAQ
The total investment to open a Fitness Machine Technicians FMT franchise ranges from $71,450 to $118,490, per their Franchise Disclosure Document. This includes the initial franchise fee of $40,000 to $45,000. The investment covers build-out, inventory, equipment, signage, working capital, and other startup costs.
Fitness Machine Technicians FMT charges a royalty fee of 6% of the first $499,999 of Gross Sales each calendar year; 5% of Gross Sales in excess of $500,000 each calendar year. of gross sales, plus a Brand Development Fee: Up to 2% of Gross Sales (currently 1%). Local Advertising: $1,000 per month or 1% of your Gross Sales, whichever is greater, beginning in month 4. contribution to the marketing/advertising fund. These fees are paid on an ongoing basis.
You can download the Fitness Machine Technicians FMT Franchise Disclosure Document free on this page. The FDD is a public document filed with state franchise registries. Always also request the current FDD directly from Fitness Machine Technicians FMT to ensure you have the most up-to-date version.
According to the Item 19 financial performance representation in their FDD, Fitness Machine Technicians FMT franchise owners report average revenue of $193K and median revenue of $178K. This is based on a sample of 13 units. Past performance does not guarantee future results.
Fitness Machine Technicians FMT has been franchising since 2012. The FDD shows an investment range of $71,450-$118,490, a 6% of the first $499,999 of Gross Sales each calendar year; 5% of Gross Sales in excess of $500,000 each calendar year. royalty, and includes an Item 19 earnings disclosure. There is no pending litigation. Review the full FDD and contact current franchisees listed in Item 20 before making any investment decision.
The franchise fee is $40,000 to $45,000 and the total investment ranges from $71,450 to $118,490 depending on location size and market. Contact the franchisor directly for current net worth and liquid capital requirements, territory availability, and application details.
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Data Source & Disclaimer: This website is for informational purposes only. It is not an offer to sell or buy a franchise. This profile is based on publicly available FDD data sourced from state franchise registry filings. All information is for research purposes only and does not constitute legal, financial, or investment advice. Data may be outdated or contain errors. Always obtain the current FDD directly from Fitness Machine Technicians FMT and consult a qualified franchise attorney before making any investment decision. FranchiseOverview.com is operated by Franchising Compliance, LLC and is not affiliated with Fitness Machine Technicians FMT or any of its subsidiaries. To report an inaccuracy: info@franchiseoverview.com