For what it's worth, my old gym was basic as you like. Five cardio machines, all the rest was free weights, handmade and welded together years ago. It was clean, and relatively tidy, but still basic. A big franchise opened up, literally 100yards down the road, all kinds of deals, sauna, health suite, swimming pool, training sessions, etc.
Three years later, it's shut down. People got sick of it. Minimum wage 150lb trainers telling you what to do, stupid rules about not making any noise while you worked out, extended contracts which people couldn't get out of.
I spoke to the owner of the basic gym last week, and everyone who got attracted to the franchise wanted somewhere else to train, so went to his place. No contracts, you can pay weekly, monthly, daily, whatever. There are only 3 staff, 1 of whom gets paid, and business is doing so well that he has leased the floor above to extend and create a 'Leg Loft' he called it.
People don't want fancy machines and shit like that in the current climate, just somewhere friendly and suitably equipped to workout, at a reasonable price. I wish I still lived there so I could go to that gym.