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It is important to talk to other franchisees and see what their costs were for leasehold improvements and construction. "[20] In 2003, Planet Fitness opened its first franchised location in Florida, with Eric Dore and Shane McGuiness. [25][26] The company went public on August 6, 2015. [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. Initial investments: $969,600 - $4,242,500 Net Worth Requirement: $3,000,000 Liquid Cash Requirement: $1,500,000 Estimated Initial Investment Previously, she was an editor at Fundera, where she developed service-driven content on topics such as business lending, software and insurance. 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. [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. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105. [24] Michael Grondahl, co-founder of Planet Fitness stepped down as CEO, and was succeeded by Chris Rondeau. 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. After establishing a strong reputation across the fitness industry, Latham decided to seek a larger challenge and transitioned from the study of physiology to owning a gym that implemented a business model that remains in place across all studios to this day: offering trainer-led group workout sessions, which are broken into intervals of cardiovascular and strength training. This information may be different than what you see when you visit a financial institution, service provider or specific products site. ? Office Depot, Planet Fitness, Roto Rooter, Starbucks, Taco Bell, Travelers, and United Health Group. Founded in 1992 in Dover, N.H., Planet Fitness is now the fastest-growing full size health club franchise in the United States, and has revolutionized the industry with a combination of extremely . 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 It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. At Jiffy Lube, he oversaw the strategic direction of the company, and managed franchise relationships to create a shared vision for the brand, drive network growth, and maintain Jiffy Lubes leading market share. This is significantly lower than the midpoint investment of $3,273,500. 1,600+ locations open and we're just getting started! Have questions? We offer the most complete and most accurate mailing/telemarketing list for Planet Fitness franchise owners. Start a Planet Fitness Franchise in 2023 - Entrepreneur [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. [6], In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. This investment is much higher than the industry standard of $253,000. Burn Boot Camp 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. 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. After you cover your startup costs, your total gross monthly take could greatly exceed your expectations, depending on how many memberships you sell. In this role, she oversees general HR operations, talent acquisition, leadership development, business partner support, culture and employee engagement, benefits and compensation. [60], In October 2017, Planet Fitness and its members raised $1 million which it donated to the non-profit Boys and Girls Clubs of America. 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. We provide estimated franchise costs for some countries: Planet Fitness Franchise Cost Worth the Profit? - Vetted Biz 2- Based on a midpoint investment of $3,273,300 with estimated profits of $154,587 at a 10% profit margin, it would take about 21 years to recoup your investment. 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. 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. Largest Planet Fitness Franchisee Acquires 19 Planet Fitness Clubs in [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. But perhaps most important to this process is interviewing current franchisees. Golds Gym also requires that potential franchisees have a minimum of $1 million in net worth and $400,000 in liquid assets. Mr. Barber holds a B.S. Our opinions are our own. Largest Planet Fitness Franchisee Group Acquired by New York Private While this may be the business for you, make sure also to check out other companies offered on Vetted Biz and in the Fitness Industry. You'll also benefit from . 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. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. Performing this action will delete your account. Prior to joining Planet Fitness, Ms. Simmons worked in Finance and Business Planning roles for Timberland, PepsiCo, and Fisher Scientific International. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see the mustache commercial? Pure to Joseph Pilates' original Reformer-based Contrology Method, but modernized with group read more. ", "Planet Fitness revokes woman's membership after transgender complaint", "Planet Fitness Has New Investor; Promotes Rondeau To CEO", "Former Radio Shack CFO Fills Planet Fitness Hole", "Planet Fitness goes public, hits mark in first day of trading", "Ranking America's Best And Worst Franchises: Which Are The Best Investments? 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. According to their website, Pure Barre is the oldest and most established barre studio out there. Chris Rondeau has served as the Chief Executive Officer of Planet Fitness since January 2013. Initial franchise fee: $30,000 to $50,000, Estimated total initial investment: $100,000 to $2 million. Find Accurate Contact Data for Fitness Franchise Owners. The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. And with an incredibly low initial franchise fee and upfront investment, Jazzercise is one of the best low-cost franchises youll find, especially within the health and fitness industry. [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. [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. Planet Fitness businesses are fitness training facilities offering exercise machines and free weights, fitness training services, tanning services . [35], The net worth requirement for a Planet Fitness franchise is $3,000,000, while the liquid cash requirement is $1,500,000. Planet Fitness franchise is growing, and it is growing fast. [16] Planet Fitness became known as the "Judgement Free Zone", aimed more at the average user than the bodybuilder type of fitness enthusiast. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. The total investment ranges from $728,290 to $3,777,800. If you sign an Area Development Agreement, the Initial Franchise Fee for each location opened under the Area Development Agreement will be $20,000 for Franchise Agreements entered into within four years of the effective date of your Area Development Agreement. Verizon Wireless, and Westin, just to name a very few. You must maintain the franchise premises according to Planet Fitness brand standards. LearningRx Franchise Corporation 5085 List Drive, #200 Colorado Springs, CO 80919 Phone: (719) 264-8808 Liz Anderson . All told, their gyms boast over 14 million members worldwide. [17], As part of their effort to create a non-intimidating environment, Planet Fitness has alienated many serious weight lifters. History of Planet Fitness in Timeline - Popular Timelines Prospective owners are asked to have a minimum net worth of $3 million and a minimum of $1,500,000 in liquid capital. 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 . You must maintain your equipment according to Planet Fitness brand standards. 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. You must be logged in to view this form. This metric is the standard industry investment amount for a single unit franchise investment in this industry. Justin Vartanian serves as General Counsel and SVP, International Division overseeing all legal matters and international development. . JLM Financial Partners, Austin, Texas, and Eagle Merchant Partners, Atlanta . Franchise Sales Manager Planet Fitness 4 Liberty Lane West Hampton, NH 03842 Phone: (603) 750-0001 We offer detailed franchise research and contact data reports. Ms. Medeiros has been instrumental in developing and refining Planet Fitness marketing strategy and differentiated Judgement Free positioning in the fitness industry. Order now to get instant access to the complete Planet Fitness franchise owners. Estimated total initial investment: $198,650 to $446,250. Planet Fitness Franchise Owners Contact List 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. As a franchise owner, youll benefit from a proven business model, brand recognition, existing customer base, vendor network, and robust franchisee support system. Even if your network of Planet Fitness franchises earns above $% a million, you will not be able to recover costs just by selling it. 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 Announces Winners of Annual Franchisee Awards - PR Newswire Then, the last four workouts in the program will take place in the gym and you'll learn how . That said, Orangetheory is designed for people of all fitness levels, since participants can go entirely at their own pace. Corporate Governance - Management Team - Planet Fitness 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. Paul Barber joined Planet Fitness in October 2022 as the Companys Chief Information Officer. 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. The franchise requires that candidates have access to over $90,000 in liquid capital, and a minimum net worth of $300,000. Looks like your subscription is due. Liquid Cash Requirement: $1,500,000. 2% of the total gross monthly EFT Dues Draft. By becoming a franchise owner, you can benefit from a proven business model, existing customer base, and franchisee support system. When evaluating offers, please review the financial institutions Terms and Conditions. Initial term lengths last 10 years. United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. Estimated total initial investment: $303,000 to $499,850. 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. Owner WIRED Telcom 159 W 1st Street Oswego, NY 13126 Phone: (315) 326-3350 . Orange Theory was ranked 49th in the franchise 500 rankings according to entrepreneur.com. - In currency of the United Kingdom, the investment comes around 694,900 to 3,040,600. Due Date: Expended according to Planet Fitness Methods of Operations as per your advertising budget. 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. 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 There are both advantages and disadvantages of franchising, so make sure you weigh both sides thoroughly. Bode held several senior leadership positions at Dunkin' Brands, including serving as Regional Vice President of Dunkin' Donuts Northeast where he was responsible for overseeing the operations of more than 2,600 restaurants. The Grondahls changed the gyms name to Planet Fitness in 1994. Thanks to that near-legendary status in the fitness world, and their loyal customers. Planet Fitness Franchise Cost & Fees | How To Open | Opportunities And [54][55] Also in 2016, the company donated more than $1 million to the program. Find other similar franchises in our catalog! 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? You may need additional operating capital, or you may need it for a longer period of time. You have to pay this upfront fee when opening a Planet Fitness franchise. The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. PDF Together We Are Franchising industry. The number of fitness franchise locations has been steadily increasing to a total of about 2,039. . Even after the pandemic hit, it continued to grow at a rate of over 100 units. 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 2019 Planet Fitness Franchise Awards were given to the following: Hall of Fame: Jeff & James Innocenti - PF Supreme Franchisee of the Year: Mike Turner & CJ Bouchard - Excel Fitness Operator of the Year: Steve Kindler, Jr. - National Fitness Partners Developer of the Year: Tim Kelleher - Taymax Group 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. SVP Communications and Corporate Social Responsibility, General Counsel and SVP, International Division. She received her Bachelors degree from Eastern Connecticut State University. Currently, Golds Gym franchise has available markets in almost every state across the country, and select international opportunities. has opened over 4,000 locations on all seven continents. 6.4 miles away from Planet Fitness. Planet Fitness estimates the costs to upgrade and/or remodel your facility will range from $70,000 to $600,000 every 5 years. The following costs are part of the upfront costs included in the initial investment for Planet Fitness locations. She received her Bachelors degree in Public Communications from American University in Washington, DC, and served on the Board of Directors for the Boys & Girls Clubs of Manchester, NH. The Planet Fitness initial franchise fee is $20,000. 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. So how do we make money? [32][33], Planet Fitness started franchising units in 2003. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. Christine Aebischer is an assistant assigning editor on the small-business team at NerdWallet who has covered business and personal finance for nearly a decade. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. Bill Bode serves as Division President, U.S. in Pilates. Franchise Division including leading the operations, development and construction, vendor management and local marketing execution teams. Today, there are Planet Fitness franchise locations around the U.S. as well as Canada and the Dominican Republic. 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). List to Contact Planet Fitness Franchise Owners - Planet Fitness Owners Contact List. In addition, he served as an online media manager for the University of Nevada, Reno. This FREE 10-part progressive program will help you get movin'. 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. Planet Fitness - Wikipedia To be eligible to open a Crunch Fitness franchise, candidates must have at least $1 million in net worth and access to $300,000 to $400,000 in liquid assets. Greater of $60,000 or 7% of the total gross monthly membership fees payable to you via EFT in a quarter, and the greatest of $5,000 or 3% of the total gross monthly membership fees payable to you via EFT in a month. If you are an individual with a passion for fitness and are willing to invest an amount ranging from $657,542 $2,105,322 or more, Orange Theory might be the right fit for you. Planet Fitness Independent Franchisee Council Join Us Today! Planet Fitness Gym - Franchise Solutions 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. Prior to that, Ms. Gentilozzi served as Senior Vice President of Human Resources at Aropostale, supporting over 25,000 employees in 1,000 retail locations throughout the U.S., Canada, and Puerto Rico. It offers classes for dance, aqua, cycle, box, pilates, and many more. On this Wikipedia the language links are at the top of the page across from the article title. 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. Prior to Planet Fitness, Ms. Gosselin worked at Dunkin Brands on the global public relations team. Previously, she served as Head of Marketing and Sales for Zipcar, the worlds leading car-sharing network, where she was a key member of the executive leadership team responsible for demand and revenue generation and all marketing functions. Mr. Rondeau joined Planet Fitness in 1993, working the front desk at the very first location in Dover, NH, one year after the original founders, Michael and Marc Grondahl, started the Company in 1992. Planet Fitness, Inc. to Acquire 114 Locations From One of Its Top [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. The name came from his daughter's school project, "Fitness Planet". "[22], As early as March 2015, the "Judgement Free Zone" policy was expanded to allow trans women to use the women's locker room. Upon your submission of your Construction Development Plans for our approval, Point of Sale Support, Processing and Account Management Services Fees, $149-$199 plus processing and credit card fees based on the number of transactions processed per month or number of eligible accounts enrolled in collections. Franchise. Like. Once you start operating your Pure Barre location, youll be responsible for a monthly royalty fee of 7% of gross sales and a 1% monthly marketing fee. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see. As a result, she has played an instrumental role in the major strategic decisions made by the Company. Planet Fitness Franchise | Cost, Fees & Earning Stats (2023) As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. 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. Please confirm by clicking on the Cancel Subscriptionbutton below. [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. The initial Planet Fitness Franchise Fee is $20,000. Franchise Description: Planet Fitness Franchising LLC is the franchisor.The ultimate parent company is Planet Fitness, Inc. 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. [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. Planet Fitness's franchise fee is $10,000 for a 10-year renewable agreement, though the total investment ranges from $700,000 to $3.8 Million. At the moment we can not connect you to the representative of this franchise. Their website reads, We are not currently accepting new franchisee applications for US expansion.. Browse 1000s of reports on 1000s of franchise systems. 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. But buying into a gym franchise is a less risky venture than building a gym from the ground up. Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). 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. Its also a good idea to reach out to at least a few former Planet Fitness franchisees to find out why they left or were terminated from the franchise system. The estimated total investment necessary to begin the operation of an Orange Theory Franchise ranges from $657,542 to $2,105,322. In 2020, he joined the International Franchise Association (IFA) Board of Directors; board members are drawn from a world-class set of franchise brands. In other words, franchising takes most of the heavy lifting off your shoulders. 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. In this role, she is responsible for driving our digital vision and strategy, including leading the continuous enhancement of our mobile app, with a focus on consumer engagement, loyalty and a differentiated omni-channel experience to accelerate Planet Fitness growth and success. Benson, who co-founded the former Cabletron Systems, once the . There are very few reasons why one might want to open a Planet Fitness franchise. 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. [14] Berks later went on to open the first Youfit Health Club in St. Petersburg, Florida. We also suggest that you speak to 3 5 Planet Fitness owners before opening one yourself. Co-founder, Elle Latham, decided to open a gym to implement her personally designed workout, which eventually became the basis for Orange Theorys system. The chain has over a thousand locations with over 400 units outside the US. The Planet Fitness franchise was founded in 1992 and has been franchising since 2003. $10,000, plus our reasonable out-of-pocket expenses, including external legal and administrative costs we incur in connection with the transfer. For those looking to get started with a Planet Fitness franchise, it's important to factor in all of these costs so that you have a clear understanding of the total investment required. Initial franchise terms are 10 years. 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. Across 50 states the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia 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. Ms. Medeiros received her Bachelors degree from the University of New Hampshire. She has also held editing roles at LearnVest, a personal finance startup, and its parent company, Northwestern Mutual. ASK QUESTIONS ABOUT THE FRANCHISE, Distributorship Opportunities For Business, the terms of Initial investments: $969,600 - $4,242,500 Planet Fitness Franchise Cost The estimated total investment necessary to begin the operation of a Planet Fitness Franchise ranges from $1,625,600 - $4,921,000. This routine is an 18-minute HIIT workout that targets cardio and endurance. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. Paid Grace Period. Headquarters: Hampton, New Hampshire. [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. The fitness center industry has grown with the rise in disposable income and demand for a more health-conscious lifestyle among millennials. This large discrepancy indicates the potential different costs you could face when building your Orange Theory franchise as a franchisee. Franchising | Planet Fitness However, this ultra-famous franchise is the most expensive on this list, with an estimated upfront investment potentially reaching over $5 million. Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. 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.