I think theres enough people that have enough money to buy into the "franchise" thing......start up costs.
But maintaining each on his own without help from corporate will get a drain on the money real soon.
The name is popular but people care about the $19 a month membership and when it goes up, they'll leave to "Ballys" imo.
I would rather invest into a 24 hr fitness as an investment, since they wouldnt tell me " Hey, wheres your $24,000 ad money this month!!