JP,
I've actually done a wee bit of investigating a while back and requested an info packet (I think all the info is actually available on the site now). They certainly seem to have a good system from a business standpoint with as many facilities as are projected to open.
There is a cookie-cutter approach for all athletes in following a 8 or 12 week program initially. From there I think there's some individualization.
The advantage I can see is the system is already in place and you have corporate support for marketing and business issues.
To echo Dos and Craig, if Steven Plisk is involved there must be something to it.
If you're interested, I think the Parisi School is also doing the franchise thing now as well at
www.parisischool.com.
Bill