As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. Since their start in 2002, Anytime Fitness has opened over 4,000 locations on all seven continents. Currently, Golds Gym franchise has available markets in almost every state across the country, and select international opportunities. It offers classes for dance, aqua, cycle, box, pilates, and many more. The Area Development Fee is in addition to the then-current Initial Franchise Fee due for each location at the time the Franchise Agreement for that location is executed. Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing gym franchises in the United States. [32][33], Planet Fitness started franchising units in 2003. Golds Gym also requires that potential franchisees have a minimum of $1 million in net worth and $400,000 in liquid assets. Headquarters: Hampton, New Hampshire. Lets get started. You must pay a supplemental fee of $5,000, per location remaining to be developed, plus our reasonable out-of-pocket expenses, including external legal and administrative costs we incur in connection with the transfer. Before joining NerdWallet, he served as senior editorial manager of QuinStreet's insurance sites and managing editor of Insure.com. Robert Beaupre leads the SMB team at NerdWallet. [24] Michael Grondahl, co-founder of Planet Fitness stepped down as CEO, and was succeeded by Chris Rondeau. This document includes information about the franchises financial standing, capital requirements, franchisee training, and ongoing franchise fees, among other crucial information. Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). The initial Planet Fitness Franchise Fee is $20,000. [16] Planet Fitness became known as the "Judgement Free Zone", aimed more at the average user than the bodybuilder type of fitness enthusiast. Today the brand has over 2,000 locations system-wide. How Much Does A Planet Fitness Owner Make? - drfranchises.com The second Toronto location opened in early 2015. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. If a fitness business with a franchise sounds good, heres nine of the most promising options for a gym franchise. First, youll need to winnow down your list to only the gyms whose investment levels align with your financials, as well as your eligibility to secure franchise financing or gym financing. Mr. Barber has over 20 years of experience in leadership experience across a variety of industries, most recently serving as the Senior Vice President of Information Technology at United Natural Foods Inc. from Boston University and an M.B.A. from the University of Denver, Daniels College of Business. The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. Then, you will be in compliance with the LAF requirement if you spend an amount that satisfies the LAF obligations for all the Planet Fitness businesses in the aggregate. [29], In 2020, the company received criticism for charging its customers for March dues "despite closing its facilities nationwide due to the novel coronavirus pandemic. Bill Bode serves as Division President, U.S. [19] According to a Planet Money episode from 2014, "half of the Planet Fitness members don't ever go to their gyms. Review the chart below to see how much it costs to buy a Planet Fitness franchise in 2022. Before the pandemic, it was growing at a rate of approximately 200 units a year, which is impressive. Ms. Kaplan holds a B.S. The difficult part of this step of the franchise buying due diligence process lies in obtaining a current list of Planet Fitness franchise owners. -In thousands and rounded; represents electronic funds presented for draft for the 12 months of calendar year 2019 and 2020, respectively. Please scroll down for a partial list of franchise businesses. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. industry. Initial term lengths last 10 years. 10 Qualities of Highly Successful Fitness Franchise Owners If you can name a franchise business, it's probably on our Franchise owners marketing list. Thats why we put together this complete mailing/telemarketing list containing contact the names, phone numbers and physical addresses of business owners in the franchise system and certain former franchise operators. [18] This low-cost business model focuses on the needs of occasional or first-time health club members, rather than more experienced members,[6] and depends on many members rarely showing up. Annually Updated with New Owners of Planet Fitness Locations in the USA. Planet Fitness franchise was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. Gym franchises dont get much more classic than Jazzercise, the high-intensity, dance-cardio fusion class that became a fitness mainstay during the 80s exercise boom. Franchise fee: one-time $42,500 Royalty fees: $699/mo Planet Fitness Planet fitness has locations in Canada, Mexico, Panama, and all 50 states of the US. So how do we make money? Throughout her tenure, she has held roles of increasing responsibility, with her most recent position being Vice President of National Marketing. Lead Assigning Editor | Small business finances, investing, banking. - In Malaysian currency, the investment comes around MYR 3,93 million to MYR 17,21 million. Cash Required $1,500,000. Franchising Since: 2000. He joined Planet Fitness in 2016 as the Senior Vice President of Franchise Operations. An individual planet fitness franchise owner can make around $513,00 to $5,554,000 annually. The franchise also requires that candidates have at least $100,000 in combined liquid assets and a total net worth of at least $250,000. Join now to become a registered PFIFC member and gain access to a wealth of information that will help you succeed as a Planet Fitness owner. has opened over 4,000 locations on all seven continents. Share. "I decided I didn't want to deal with that crowd, so that's when I opened the original Planet Fitness club in Sunrise, Florida, in 1993." $10,000, plus our reasonable out-of-pocket expenses, including external legal and administrative costs we incur in connection with the transfer. McCall Gosselin joined Planet Fitness in January 2013 and currently serves as SVP of Communications and Corporate Social Responsibility. Planet Fitness Independent Franchisee Council Join Us Today! The total investment ranges from $728,290 to $3,777,800. [47] The contestants on the show worked out on Planet Fitness equipment and then at Planet Fitness gyms near their homes, working with Planet Fitness instructors. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. Additional Training: Ongoing training The Planet Fitness franchise was founded in 1992 and has been franchising since 2003. - In Indian currency, the investment comes around Rs 7,14 crores to Rs 31,23 crores. - In currency of Germany, the investment comes around EUR 805,430 to EUR 3,524,180. The estimated total investment necessary to begin the operation of a Planet Fitness Franchise ranges from $1,625,600 $4,921,000. Initial investments: $969,600 - $4,242,500 Find Accurate Contact Data for Fitness Franchise Owners. The more franchises you own, the more earning potential you have as private equity firms become interested in your business instead of individual owner-operators. Fitness Franchisee Contact Lists - FranchiseComplaints.org According to Franchise Direct, the initial franchise fee is $20,000, while the area development fee is $10,000. Both franchising units and company-operated stores have increased. To open a gym, a franchisee must have a net worth of $3 million with a minimum of $1,500,000 in liquid assets. That way, participants can both track their own progress, and see how it stacks up to other people in the classso if you thrive on competition, this is the gym franchise for you. [61], In January 2020, Planet Fitness partnered with The Biggest Loser to be the official sponsor of the show's 2020 reboot.[62]. PDF Together We Are Franchising Office Depot, Planet Fitness, Roto Rooter, Starbucks, Taco Bell, Travelers, and United Health Group. Pre-qualified offers are not binding. Estimated total initial investment: $2,405 to $3,200. Planet Fitness estimates the costs to upgrade and/or remodel your facility will range from $70,000 to $600,000 every 5 years. It is reported to be the nations fastest growing fitness center franchise. Youre about to cancel your subscription. 1,600+ locations open and we're just getting started! ASK QUESTIONS ABOUT THE FRANCHISE, Distributorship Opportunities For Business, the terms of The most popular workout model from Snap Fitness is known as MYFIT. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. Pure Barre has over 500 open locations across North America with tons of available studio markets in the U.S. locations around the U.S. as well as Canada and the Dominican Republic. 2% of the total gross monthly EFT Dues Draft. Initial Franchise Fee: $20,000 [46], Planet Fitness reported that it has around 2,400 gyms worldwide with a total membership of 17 million, generating an annual revenue of $936.8 million at the end of 2022. In her role as Chief Brand Officer, she is responsible for leading Planet Fitness brand strategy and working collaboratively with agencies and across the organization to ensure the brand vision comes to life through national and local marketing strategy, creative, brand marketing sponsorships and activations, and social media. 6.4 miles away from Planet Fitness. Orange Theory is currently headquartered in Boca Raton, FL, and is run by its CEO Dave Long who previously served as the main developer and owner of the European Wax Center. Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. [5] It markets itself as a "Judgement Free Zone" that caters to novice and casual gym users, and has faced both praise and criticism for its atmosphere. Estimated total initial investment: $304,500 to $2.1 million. Planet Fitness (PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. To assign a valuation multiple for Planet Fitness franchises, we leverage estimates from DealStats, a database of acquired private company transactions sourced from U.S. business brokers and SEC filings. [7] They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. He joined the Company as General Counsel in 2014 and played a critical role in the Companys initial public offering in August of 2015, and has since overseen all public company, corporate governance and franchising matters as a key member of the companys leadership team. The graph below and the table that accompanies it depicts the total return to shareholders between 2015 and 2021 on Planet Fitness class A common stock relative to the performance of the S&P 500 Index and the Russell 2000. The graph includes a comparison against the Russell because there is no industry benchmark or line-of-business index for the fitness industry or a peer group that is publicly traded. However, the profit varies on your location also. This article originally appeared on JustBusiness, a subsidiary of NerdWallet. | United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. [25][26] The company went public on August 6, 2015. To be eligible to open a. , candidates must have at least $1 million in net worth and access to $300,000 to $400,000 in liquid assets. Investing in an Orange Theory franchise is an interesting opportunity, especially for individuals looking to make their way into the Fitness industry. Find other similar franchises in our catalog! Planet Fitness Franchise | Cost, Fees & Earning Stats (2023) Do not sell or share my personal information. Planet Fitness Franchise Cost and Requirements for 2023 - IFPG The concept currently has over 1,000 franchises in the United States and another 150 international locations and is a subsidiary of Ultimate Fitness Holdings. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. Previously, he was the Chief Technology Officer at Airline Report Corporation, where he modernized the technology needed to process billions of dollars in payments annually. Largest Planet Fitness Franchisee Acquires 19 Planet Fitness Clubs in Planet Fitness Franchise Costs, Fees, Revenues, Profits (2022 Review) Total Investment $728,290 - $3,777,800. Planet Fitness trademarked the phrase judgment free zone, so that alone should give you a sense of this gyms major value: inclusivity for all people, regardless of their fitness levels. We were opening our 5th store then. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see. In this role, he is responsible for all aspects of financial strategy and management. At that time, Michael Grondahl stepped down as CEO and Chris Rondeau took his place and has held the position since. Ms. Kaplan has over 20 years of experience, most recently serving as Global Marketing Operations Advisor for Advent International, a global private equity firm. This metric is the standard industry investment amount for a single unit franchise investment in this industry. The estimated total investment necessary to begin the operation of an Orange Theory Franchise ranges from $657,542 to $2,105,322. HAMPTON, N.H., Jan. 11, 2022 - Planet Fitness, Inc. (NYSE: PLNT ), one of the largest and fastest-growing franchisors and operators of fitness centers with more members than any other fitness brand, announced today it has signed a definitive agreement to acquire Sunshine Fitness Growth Holdings, LLC ("Sunshine Fitness"), a leading owner and She also served as Senior Vice President of Human Resources at Macys Inc., and has held various leadership positions at The May Department Store Company, including corporate and division roles. By becoming a franchise owner, you can benefit from a proven business model, existing customer base, and franchisee support system. Franchise. Here is a list of our partners and here's how we make money. With that accessible attitude in mind, Planet Fitness tries particularly to target the 80% of the American and Canadian population who dont have gym memberships. Crunch isnt quite as widespread as Planet Fitnesscurrently, they have 300+ open locations in 29 states and five countriesbut with plans to open an additional 1,000+ locations, theyre growing quickly. [6], In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. Mr. Fitzgerald began his career at PepsiCo, where he held various leadership roles in finance and planning. This influences which products we write about and where and how the product appears on a page. [31], While Planet Fitness closed many facilities during the onset of the COVID pandemic, during the Delta and Omicron variants there was not a decrease in gym attendance. Your Royalty payment is currently based on the total gross monthly and annual membership fees for the, You must maintain your equipment according to, Your actual costs may be higher or lower depending on the size of your, You must maintain the franchise premises according to, Franchise Disclosure Document (FDD) Database, Your Lender; Approved Suppliers; Our Affiliate, Paid to various media companies and other third parties to promote the opening of your business, Computer System, Point of Sale System, and other Supplies, Utilities, banks/credit card companies, leased equipment vendors, alarm company, telephone company, Your Out-of-Pocket Initial Training Expenses. To open a gym, a franchisee must have of $3 million with $1,500,000 in liquid assets. Paid Grace Period. In this role, she is responsible for all aspects of the companys internal and external communications, including public relations, crisis management, executive communications, philanthropy, community relations and sustainability. Call us direct at (855) 822-0912, Get Contact Details & Mailing List of Planet Fitness Franchisees, The difficult part of this step of the franchise buying due diligence. - In Philippine currency, the investment comes around Php 47,15 million to Php 206,34 million. Planet Fitness franchise costs, based on Item 7 of the company's 2022 FDD: Initial Franchise Fee: $20,000 Site Selection Costs: $0 to $10,000 Construction Development Plan Review Fee: $0 to $4,000 Leasehold Improvements: $1,250,000 to $2,163,000 Fitness Equipment: $34,000 to $953,000 Non-Fitness Equipment: $63,000 to $825,000 Now, youd be hard-pressed to find a gym franchise that doesnt offer some form of barre class, but owning a. takes you straight to the source. Initial franchise fee: $30,000 to $50,000, Estimated total initial investment: $100,000 to $2 million. Browse 1000s of reports on 1000s of franchise systems. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. Your Royalty payment is currently based on the total gross monthly and annual membership fees for the Planet Fitness business that are due and payable to you each month and annually, as applicable, by or on behalf of your members through authorized EFT withdrawals (the EFT Dues Draft), regardless of the amount of membership fees you collect. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. service, Computer System. ? Ultimately, the only way to know which gym franchise is right for you is to do your own due diligence. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. They provide an affordable, high-quality fitness experience in a welcoming environment. [10][7], Berks had started his own Planet Fitness gym in 1993 in Sunrise, Florida, and eventually expanded it to three clubs, along with a Gold's Gym franchise. When evaluating offers, please review the financial institutions Terms and Conditions. Planet Fitness Franchise Owners Contact List $ 149 Verified List of Planet Fitness Owners Contact Data We offer the most complete and most accurate mailing/telemarketing list for Planet Fitness franchise owners. Net Worth Requirement: $3,000,000 After you cover your startup costs, your total gross monthly take could greatly exceed your expectations, depending on how many memberships you sell. When evaluating offers, please review the financial institutions Terms and Conditions. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. They opened a new gym called Coastal Fitness and the Grondahls hired current CEO Chris Rondeau, who was still in college at the time, to run the gyms front desk. According to their website, Pure Barre is the oldest and most established barre studio out there. However, this does not influence our evaluations. process lies in obtaining a current list of Planet Fitness franchise owners. Planet Fitness Gym - Franchise Solutions Planet Fitness growth continued over the next decade and in 2013, TSG Consumer Partners, LLC became an equity partner in the Planet Fitness franchise. Please renew to keep using our services. Airfare, ground transportation, meals, lodging, Government agencies and bonding companies, Payroll, debt services, ongoing pre-sale/grand opening marketing, and cash to cover miscellaneous day-to-day expenses, Estimated Selling Price = Net Sales * 0.67, Estimated Selling Price = Net Sales * 1.21. We offer detailed franchise research and contact data reports. Due Date: Expended according to Planet Fitness Methods of Operations as per your advertising budget. As can be seen, Planet Fitness stock has outpaced the S&P 500 by almost 2x. Throughout the years, Chris played a critical role in developing and refining the unique, low-cost/high-value business model and lean operating system that revolutionized both the fitness and franchising industry. Planet Fitness Franchise Owners Contact List $ 149 Add to cart; GNC Franchisee Owners List $ 129 - $ 179 Select options; Club Pilates Franchisee Owners List $ 99 Add to cart; Golds Gym Franchisee Owners List As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. Initial franchise fee: $54,950 to $59,950, Estimated total initial investment: $563,529 to $999,121. Due Date: Paid monthly and annually. Benson is back on the board of Planet Fitness [3] The company reports that it has around 2,400 clubs, [4] making it one of the largest fitness club franchises by number of members and locations. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. Planet Fitness Franchise Cost Worth the Profit? - Vetted Biz The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. in Management Information Systems from Northwood University. Looks like your subscription is due. has over 1,100 studios in 49 U.S. states and 22 countries internationally (they started in 2010, for some context about just how quickly theyre growing). Planet Fitness franchise is growing, and it is growing fast. Orangetheory claims to be one of the fastest-growing franchises in the world, and theyre ranked 60th in Inc. Magazines Fastest Growing Private Companies List. Today, there are Planet Fitness franchise locations around the U.S. as well as Canada and the Dominican Republic. History of Planet Fitness in Timeline - Popular Timelines She received her Bachelors degree from Eastern Connecticut State University. The board of directors at Planet Fitness is as follows: Stephen Spinelli, Jr. (Ph.D.), Chairman Chris Rondeau (CEO) Bernard Acoca Enshalla Anderson Craig Benson Cammie Dunaway Frances Gregg Rathke Christopher Tanco New franchise owners can also expect to participate in a comprehensive training program, as the franchise requires their franchisees to be certified barre instructors. Their popularity mostly comes down to their unique business model: All Anytime Fitness locations are open 24 hours a day, seven days a week, and members can access any of those 4,000+ locations no matter where they are in the world. Kick off your search with this list of nine of the most promising gym franchises to buy. Even more reason to consider investing in a gym franchise? This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Be advised to match Planet Fitness franchise cost and profit by analyzing low and high fees you need to pay starting a Planet Fitness franchise. The gym utilizes a "lunk alarm", which is a loud siren and rotating light that is used when a gymgoer grunts too loudly or drops weights. Sorry. Planet Fitness Initial franchise fee: $20,000 Estimated total initial investment: $1 million to $4.1 million Planet Fitness trademarked the phrase "judgment free zone," so that alone. Estimated total initial investment: $58,870 to $521,437. 1 comment. Mr. Hymes has over 30 years of experience leading domestic and international retail, franchise, and e-commerce businesses for global companies, most recently serving as the President and Chief Executive Officer of Jiffy Lube International. Greater of $15,000 or 7% of the total gross quarterly EFT Dues Draft, Expended quarterly according to our Methods of Operations as per your advertising budget, Varies, maximum of 9% total gross monthly EFT Dues Draft, Our actual costs, which may range from $3,000 to $15,000. Our opinions are our own. Planet Fitness businesses are fitness training facilities offering exercise machines and free weights, fitness training services, tanning services . You must be logged in to view this form. 4. If you are thinking about how to open a Planet Fitness franchise, begin with a franchise investment information. Chris Rondeau has served as the Chief Executive Officer of Planet Fitness since January 2013. was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. As a franchise owner, youll benefit from a proven business model, brand recognition, existing customer base, vendor network, and robust franchisee support system. Join PFIFC Bode was also responsible for U.S brand compliance and business development along with leadership positions overseeing training, store development, marketing, and franchising. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. Rated Excellent on TrustPilot with feedback from 50+ customers. Although gym franchises require that the owner has previous management experience, most dont require experience in the fitness industry. All initial fees are the same for both initial and conversion franchises. Ms. Medeiros received her Bachelors degree from the University of New Hampshire. Planet Fitness has more members and locations than any other fitness brand. You are going to upgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105. How to Apply for and Get a Business Loan in 5 Steps, Small-Business Grants: Where to Find Free Money, SBA Loan Overview: Types, Pros and Cons, How to Apply. The minimum net worth required to own an Orange Theory franchise is $500,000 and the applicant must have liquid assets of at least $150,000. With that in mind, Planet Fitness franchisees will need to pay for that international brand recognitionopening a Planet Fitness franchise may cost over $4 million. Initial investments: $969,600 - $4,242,500 Net Worth Requirement: $3,000,000 Liquid Cash Requirement: $1,500,000 Estimated Initial Investment Mr. Fitzgerald holds an MBA in Finance from Indiana University Kelley School of Business and received his Bachelors degree in Finance from the University of Florida. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see the mustache commercial? Here is a list of our partners. Jamie Medeiros joined Planet Fitness in 2000, where she worked at the front desk in the Companys third location before transitioning to the Planet Fitness corporate marketing team. Orange Theory uses your heart rate to show your exertion potential compared to the maximal effort and compares you to your peers in classes. FranchiseComplaints.org Initial term lengths last 10 years. Whether youre a gym rat yourself or youre passionate about helping others achieve their health goals, starting a fitness business can be a dream gig for health-conscious entrepreneurs. Thanks to that near-legendary status in the fitness world, and their loyal customers, Jazzercise has over 8,900 franchises across the country. Training starts with one week at the companys San Francisco headquarters, followed up by three to six months of training, led by a dedicated trainer, in your home location. Kathy Gentilozzi joined Planet Fitness in 2019 as the Companys Chief People Officer. We offer the most complete and most accurate mailing/telemarketing list for Planet Fitness franchise owners. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. * The data above, compiled from the Planet Fitness FDD (Franchise Disclosure Document) 2020, represent the estimated financial range for the initial setting up and first 6 months of operation for a new Planet Fitness gym. You must maintain your equipment according to Planet Fitness brand standards. This FREE 10-part progressive program will help you get movin'.
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