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Disclaimer: NerdWallet strives to keep its information accurate and up to date. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. We believe everyone should be able to make financial decisions with confidence. To open a gym, a franchisee must have of $3 million with $1,500,000 in liquid assets. He has covered financial topics as an editor for more than a decade. Even if your network of Planet Fitness franchises earns above $% a million, you will not be able to recover costs just by selling it. [21] Some bodybuilders and weight lifters have found the way they're portrayed in Planet Fitness TV commercials to be offensive, and the way they're treated in Planet Fitness gyms to be "quite possibly discriminatory. "[30] They stated that they were unable to stop the pre-scheduled payments on short notice, but would not charge future monthly dues until they reopen, and would also provide a credit for closed days previously paid for. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. You'll also benefit from . [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. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. Here is a list of our partners. McCall Gosselin joined Planet Fitness in January 2013 and currently serves as SVP of Communications and Corporate Social Responsibility. 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. Do not sell or share my personal information. An innovative entrepreneur, Mr. Rondeau was honored as an EY Entrepreneur of the Year and inducted into the UNH Alumni Entrepreneur Hall of Fame. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see the mustache commercial? Today the brand has over 2,000 locations system-wide. "[20] In 2003, Planet Fitness opened its first franchised location in Florida, with Eric Dore and Shane McGuiness. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. Mind that the franchise requirements for sale could be different depending on the format and scope of business. 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. If a fitness business with a franchise sounds good, heres nine of the most promising options for a gym franchise. Initial Franchise Fee: $20,000 Kathy Gentilozzi joined Planet Fitness in 2019 as the Companys Chief People Officer. Currently, the. service, Computer System. Find other similar franchises in our catalog! So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. [44][37] In 2016, over 90% of Planet Fitness locations were opened by existing franchise owners. The Judgement Free Zone was started to help first-time gym users feel more comfortable starting their fitness journey. It is important to talk to other franchisees and see what their costs were for leasehold improvements and construction. According to their website, Pure Barre is the oldest and most established barre studio out there. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. Plus, the outlook for gym franchises is bright: According to a report by IBISWorld, the health and wellness boom over the past few years has led to a sizable increase in gym membership levels, which continues to grow. You must maintain the franchise premises according to Planet Fitness brand standards. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. You'll build confidence while increasing your fitness knowledge. Owner WIRED Telcom 159 W 1st Street Oswego, NY 13126 Phone: (315) 326-3350 . An offshoot of the (purportedly) $7 billion UFC brand, UFC Gyms offer MMA-inspired personal and specialized training, traditional and fusion martial arts classes, and youth fitness classes. Prior to that, he served as the Director and General Manager of internet startup Kozmo, where he was responsible for new market development and operations. JLM Financial Partners, Austin, Texas, and Eagle Merchant Partners, Atlanta . The policy states that "members and guests may use all gym facilities based on their sincere self-reported gender identity. Planet Fitness (PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. Planet Fitness Independent Franchisee Council Join Us Today! If you are thinking about how to open a Planet Fitness franchise, begin with a franchise investment information. This information may be different than what you see when you visit a financial institution, service provider or specific products site. The franchise has since modernized their routines and worked Pilates, yoga, hip hop, kickboxing, and strength training into their classes, which they claim can burn up to 800 calories in one hour. industry. - In Mexican currency, the investment comes around Peso 20,19 million to Peso 88,33 million. [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. We offer detailed franchise research and contact data reports. But buying into a gym franchise is a less risky venture than building a gym from the ground up. 1),[16] and in its 2016 ranking of franchises, Forbes magazine ranked Planet Fitness No. Investing in an Orange Theory franchise is an interesting opportunity, especially for individuals looking to make their way into the Fitness industry. [36], The company reports that as of 2019, there are 80 corporate-owned gyms, the rest independently owned and operated. Thanks to that near-legendary status in the fitness world, and their loyal customers, Jazzercise has over 8,900 franchises across the country. Planet Fitness businesses are fitness training facilities offering exercise machines and free weights, fitness training services, tanning services . Planet Fitness growth continued over the next decade and in 2013, TSG Consumer Partners, LLC became an equity partner in the Planet Fitness franchise. has opened over 4,000 locations on all seven continents. [17], As part of their effort to create a non-intimidating environment, Planet Fitness has alienated many serious weight lifters. Initial investments: $969,600 - $4,242,500 Net Worth Requirement: $3,000,000 Liquid Cash Requirement: $1,500,000 Estimated Initial Investment Like. * 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. Initial franchise fee: $54,950 to $59,950, Estimated total initial investment: $563,529 to $999,121. So how do we make money? Now, youd be hard-pressed to find a gym franchise that doesnt offer some form of barre class, but owning a Pure Barre franchise takes you straight to the source. With that said, a Planet Fitness franchise . The initial Planet Fitness Franchise Fee is $20,000. Here is a list of our partners and here's how we make money. 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 Under Rondeau's leadership, Planet Fitness has experienced tremendous growth and has been recognized for many accolades including, Entrepreneur Franchise 500 - Fastest Growing Franchise List, Franchise Times' Top 200, Forbes' America's Best Franchises, Newsweek Best Customer Service, and Best Places to Work in New Hampshire. [49] [50], Since 2015, Planet Fitness has been a personal sponsor of NASCAR driver and champion Joey Logano. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. 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. Rated Excellent on TrustPilot with feedback from 50+ customers. You will pay a lump-sum nonrefundable Initial Franchise Fee in the amount of $20,000 when you sign the Franchise Agreement. - In Philippine currency, the investment comes around Php 47,15 million to Php 206,34 million. Sorry. [8][9][7] In 2002, they purchased the rights to the name Planet Fitness from Rick Berks and renamed their franchise. Performing this action will delete your account. 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. This model has become extremely sticky in the fitness industry because while many people want to achieve their fitness goals, they innately lack motivation. Get in touch with Planet Fitness Owners from around the US with verified contact data for all owners of all Planet Fitness locations. Cash Required $1,500,000. In addition, he served as an online media manager for the University of Nevada, Reno. 4 Liberty Ln. 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. Planet Fitness franchisees also compete against other smaller gym and fitness business locations. Classroom Training: 80 hours Owning a. means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. Ultimately, the only way to know which gym franchise is right for you is to do your own due diligence. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. That said, franchisees are responsible for additional costs, including a monthly continuing franchise fee (CFF) of either 20% of gross revenue or at least $250 per month. Comment. Total Investment $728,290 - $3,777,800. However, this does not influence our evaluations. [22] In 2010, Men's Health magazine called Planet Fitness "the worst gym in America. Both franchising units and company-operated stores have increased. Point of Sale System, and other Supplies, Your Out-of-Pocket Initial Training Expenses, Operating Cash (Additional Funds Pre-Opening and first six months), $7% of the total gross monthly and annual membership fees payable to you via EFT Dues Draft, Internet Membership and Balance Payment Administration Fee, Set according to our Methods of Operations, presently 55 per membership application or balance payment we process for your franchise location, Fees to Evaluate and Approve Alternative Suppliers, Our reasonable costs and expenses, which currently are expected to range between $1,000 and $5,000, although costs could greatly exceed those amounts depending on the product, Will var under the circumstances: estimated insurance premiums for your first year are $10,000 to $20,000. 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. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. Initial franchise fee: $32,000 to $40,000, Estimated total initial investment: $2.2 million to $5 million. Fitness centers have experienced sustained growth since the post-economic crisis in 2009. process lies in obtaining a current list of Planet Fitness franchise owners. NerdWallet strives to keep its information accurate and up to date. [25][26] The company went public on August 6, 2015. Ms. Gentilozzi has more than 30 years of Human Resources leadership experience at national retail brands, most recently serving as Executive Vice President of Human Resources at FULLBEAUTY Brands where she led all HR initiatives to support 2,000 associates. in Pilates. This document includes information about the franchises financial standing, capital requirements, franchisee training, and ongoing franchise fees, among other crucial information. Planet Fitness competes in the Fitness market against big brand companies such as Orange Theory and Golds Gym. Our franchise contact lists contain contact details for both owners of single franchise units and multi-unit franchise owners, that is, franchisees that own many franchised locations. 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. She played a pivotal role in creating breakthrough nation marketing campaigns that have built the brand over the past two decades, including iconic advertising campaigns like Lift Things and No Gymtimidation, along with pillar marketing sponsorships like the brands New Years Eve celebration in Times Square. 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. For example, this includes replacing your cardio equipment every 5 years and replacing your non-cardio equipment every 7 years. Sherrill Kaplan joined Planet Fitness in June 2021 as Chief Digital Officer. Wed recommend meeting with your bank or accountant to help you determine which franchise is financially doable for you right now. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105. Prior to Jiffy Lube, he served on Shells global Downstream Acquisitions & Divestments Leadership Team with responsibility for transaction delivery across North and South America. As can be seen, Planet Fitness stock has outpaced the S&P 500 by almost 2x. Annually Updated with New Owners of Planet Fitness Locations in the USA. Currently, the Planet Fitness franchise has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. The total investment to open a Planet Fitness gym ranges from $728,290 - $3,777,800. The second Toronto location opened in early 2015. However, this ultra-famous franchise is the most expensive on this list, with an estimated upfront investment potentially reaching over $5 million. Mr. ODonnell has nearly 20 years of experience in a variety of finance and accounting roles. He held multiple store operations positions with P&L responsibility progressing from Store Manager to Regional Manager. Please renew to keep using our services. 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. Ms. Simmons has an MBA in Finance from the University of New Hampshire and holds dual Bachelors degrees in Economics and Sociology from Indiana University. Verizon Wireless, and Westin, just to name a very few. Mr. Fitzgerald has over 30 years of leadership experience in financial management in the retail industry, most recently serving as Chief Financial Officer and Senior Vice President at Potbelly Sandwich Works. Participants are given heart-rate monitors, and their results are displayed on screens throughout the room over the course of this hour-long, interval-based, coach-led workout. 1. [52], In March 2016, Planet Fitness partnered with STOMP Out Bullying,[53] a national organization dedicated to bullying prevention, and the Boys & Girls Clubs of America to launch the company's national philanthropic initiative to address bullying, The Judgement Free Generation. [56][57][58] Planet Fitness has also provided mini "Judgement Free Zone" gyms to Boys & Girls Clubs in Manchester, New Hampshire[59] and Pasadena, California. Our research and analytics team analyzed over 120 franchise concept investment breakdowns in order to calculate this figure. The franchise requires that candidates have access to over $90,000 in liquid capital, and a minimum net worth of $300,000. 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. While at Dunkin Brands, he helped lead the technology team that rolled out mobile ordering across 9,000 locations. This routine is an 18-minute HIIT workout that targets cardio and endurance. The number of fitness franchise locations has been steadily increasing to a total of about 2,039. . Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. Prior to joining Dunkin' Brands, he was a Dunkin' Donuts franchisee in Richmond, VA. Tom Fitzgerald joined Planet Fitness in 2020 as the Companys Chief Financial Officer. This investment is much higher than the industry standard of $253,000. The fitness center industry has grown with the rise in disposable income and demand for a more health-conscious lifestyle among millennials. 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. The highest Planet Fitness franchise made over 3 million dollars in revenue, whereas the lowest earning one made $165,000. - In Indian currency, the investment comes around Rs 7,14 crores to Rs 31,23 crores. Owning a fitness franchise is a fantastic way to enter into the multi-billion dollar fitness industry. [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. [6], In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. In 2020, he joined the International Franchise Association (IFA) Board of Directors; board members are drawn from a world-class set of franchise brands. All told, their gyms boast over 14 million members worldwide. Please scroll down for a partial list of franchise businesses. Order now to get instant access to the complete Planet Fitness franchise owners. 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. - In Saudi Arabia currency, the investment comes around SR 3,64 million to SR 15,91 million. The following costs are part of the upfront costs included in the initial investment for Planet Fitness locations. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see. Bringing Franchise Owners Together to Share and Grow. Many or all of the products featured here are from our partners who compensate us. Orangetheory Fitness provides a totally unique (and seriously hard) group workout experience. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. Justin Vartanian serves as General Counsel and SVP, International Division overseeing all legal matters and international development. To open a gym, a franchisee must have a net worth of $3 million with a minimum of $1,500,000 in liquid assets. In this role, he will lead the Companys technology evolution and strategy, focused on delivering technology solutions that will continue to enhance the member experience while optimizing infrastructure, data and operations for flexibility and scale. Previously, Mr. Fitzgerald served as Chief Administrative Officer of Sears Canada. Mr. Hymes started his career at Kmart Corporation, where he worked his way up the ranks starting as an hourly store team member and entered management after graduating with a Marketing degree from Northwest Missouri State University. 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. List to Contact Planet Fitness Franchise Owners - Planet Fitness Owners Contact List. Estimated total initial investment: $1 million to $4.1 million. The board of directors at Planet Fitness is as follows: Stephen Spinelli, Jr. (Ph.D.), Chairman Chris Rondeau (CEO) Bernard Acoca Enshalla Anderson Craig Benson Cammie Dunaway Frances Gregg Rathke Christopher Tanco Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing gym franchises in the United States. Crunchs fees are on the lower end of the scale: Royalty fees are 5% of monthly gross sales, and advertising fees are 2% of monthly gross sales. was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. Planet Fitness ( PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. [15], Rondeau and the Grondahls recognized that there was a greater opportunity to serve a much larger segment of the population if they changed the gym environment, both in attitude and format, by creating a non-intimidating, low-cost model. They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. - In Canadian currency, the investment comes around Can$ 1,231,300 to Can$ 5,387,800. They provide an affordable, high-quality fitness experience in a welcoming environment. The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. Subscribe to our newsletters and keep up-to-date with the latest news in the franchise industry. Paid Grace Period. By contacting current franchise owners and asking about their experience with the franchised business, the earnings and/or success thus far, training and support from the franchisor, Pla-FitFranchise, and whether or not they would buy the franchise again if they could do it all over again, you can learn what its really like to own a Planet Fitness business before you actually purchase a franchise. Ms. Kaplan holds a B.S. is growing quickly: In 2018, The Bar Method saw a 118% growth rate. Robert Beaupre leads the SMB team at NerdWallet. Headquarters: Hampton, New Hampshire. Prior to joining Planet Fitness, Mr. [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. Except for signage, Planet Fitness will not require substantial remodeling more often than every 5 years during the term of the Franchise Agreement. Franchise Division including leading the operations, development and construction, vendor management and local marketing execution teams. Planet Fitness Franchise Owners' Salary Your gross monthly take is based on your memberships, which range from $10 to $25 per month for the franchise. | United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. That said, Orangetheory is designed for people of all fitness levels, since participants can go entirely at their own pace. Even after the pandemic hit, it continued to grow at a rate of over 100 units. The fitness center industry is mainly divided into two groups, either a specialized fitness boutique or a full-scale gym with multiple amenities and services. Ms. Gosselin was named a Top Woman in PR by PR News in 2020. You have to pay this upfront fee when opening a Planet Fitness franchise. [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. That said, franchisees are responsible for additional costs, including a monthly continuing franchise fee (CFF) of either 20% of gross revenue or at least $250 per month. After four years the Initial Franchise Fee for each location opened under the Area Development Agreement will be equal to then-current Initial Franchise Fee being charged to new franchisees. Now, We Own 22 Locations", "What your new gym doesn't want you to know", "Planet Fitness vs. the lunkheads: Why is a health club trying to alienate people who love to work out? 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. Paul Barber joined Planet Fitness in October 2022 as the Companys Chief Information Officer. Prior to that he served as the Chief Operating Officer since 2003. Planet Fitness offers people the opportunity to be a part of the fitness business, but we do not believe this is sustainable. The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. 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. You must commit to opening a one or more PLANET FITNESS locations as a condition of acquiring area development rights, either yourself or through one or more entities in which you own 51% or more interest. Liquid Cash Requirement: $1,500,000. Planet Fitness franchise is one of the largest fitness US chains by a number of members and locations. Ms. Medeiros received her Bachelors degree from the University of New Hampshire. One of the best ways to thoroughly research a franchise or business opportunity investment before purchasing one is to get feedback from current and former franchisees involved in the franchise system. Reaching out to multi-unit franchise owners and regional developers gives you the ability to get your products and services into many locations with just one sale . There are tons of gym franchises seeking new location owners, but this list represents nine of the most promising gym franchises on the market right nowbased mainly on name recognition, growth rate, and franchisor support system. Compared to $145 million in 2020, they saw an increase of 44% from 2020 to 2021. You are going to downgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. From the start, Planet Fitnesswas an inclusive, non-intimidating gym and in 1997, Planet Fitness officially unveiled its Judgement Free Zone philosophy. Based on a midpoint investment of $1,378,500 with estimated profits of $94,820 (10% profit margin) it would take about 15 years to recoup your investment. 1,600+ locations open and we're just getting started! In her role as Division President, Corporate Clubs, Ms. Simmons will be responsible for leading the Company's Corporate Club portfolio including driving overall performance, leading and developing the team, and identifying strategic growth and expansion opportunities of the brand's corporate store fleet, which consists of more than 200 locations across 14 states and Canada. The Planet Fitness initial franchise fee is $20,000. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. Additionally, he held several leadership positions at Liz Claiborne, was Chief Financial Officer at Burlington Coat Factory, and served as Chief Operating Officer of Bath & Body Works. Initial term lengths last 10 years. Earlier in her career, Ms. Kaplan held several digital and marketing leadership roles at global brands including American Express and Citi, Inc. She serves as an independent member of the Fiesta Restaurant Group Board of Directors, as well as the Massachusetts Innovation & Technology Exchange (MITX).