Browse 1000s of reports on 1000s of franchise systems. Both franchising units and company-operated stores have increased. 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. He held multiple store operations positions with P&L responsibility progressing from Store Manager to Regional Manager. "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." - In the United States, the total investment to start the Planet Fitness gym is around $969,600 to $4,242,500. 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. Ms. Kaplan has over 20 years of experience, most recently serving as Global Marketing Operations Advisor for Advent International, a global private equity firm. In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. After you cover your startup costs, your total gross monthly take could greatly exceed your expectations, depending on how many memberships you sell. 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. Fitness franchises are currently booming with the largest franchises globally being Anytime Fitness and Planet Fitness. 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 Independent Franchisee Council Join Us Today! 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. 1. Ms. Medeiros received her Bachelors degree from the University of New Hampshire. According to their website, Pure Barre is the oldest and most established barre studio out there. In addition, he served as an online media manager for the University of Nevada, Reno. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. McCall Gosselin joined Planet Fitness in January 2013 and currently serves as SVP of Communications and Corporate Social Responsibility. As can be seen, Planet Fitness stock has outpaced the S&P 500 by almost 2x. Estimated total initial investment: $198,650 to $446,250. Although gym franchises require that the owner has previous management experience, most dont require experience in the. 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). Even more reason to consider investing in a gym franchise? The U.S. has the biggest Fitness market in the world, both in terms of revenue and in the number of members enrolled in a fitness facility. 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. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. [28] It ranked in the top 50 of Entrepreneur magazine's Franchise 500 in 2017. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. By becoming a franchise owner, you can benefit from a proven business model, existing customer base, and franchisee support system. The highest Planet Fitness franchise made over 3 million dollars in revenue, whereas the lowest earning one made $165,000. 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. 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. FranchiseComplaints.org 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. Therefore, this may include substantial remodeling of your premises as frequently as every 5 years. Sorry. ASK QUESTIONS ABOUT THE FRANCHISE, Distributorship Opportunities For Business, the terms of Initial franchise fee: $32,000 to $40,000, Estimated total initial investment: $2.2 million to $5 million. You will pay a lump-sum nonrefundable Initial Franchise Fee in the amount of $20,000 when you sign the Franchise Agreement. But perhaps most important to this process is interviewing current franchisees. 1 comment. 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. [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. These figures are estimates based on Planet Fitness and its affiliates experience in operating locations. We reviewed the larger franchise industry as well as selling price multiples for larger systems where more transaction data is available. This large discrepancy indicates the potential different costs you could face when building your Orange Theory franchise as a franchisee. This information may be different than what you see when you visit a financial institution, service provider or specific products site. If you can name a franchise business, it's probably on our Franchise owners marketing list. Net Worth Requirement: $3,000,000 There are both advantages and disadvantages of franchising, so make sure you weigh both sides thoroughly. With this purchase, which was for an undisclosed amount, United PF's club count has . 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. 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. [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. Prior to joining Planet Fitness, Ms. Simmons worked in Finance and Business Planning roles for Timberland, PepsiCo, and Fisher Scientific International. Mr. Barber holds a B.S. Planet Fitness offers people the opportunity to be a part of the fitness business, but we do not believe this is sustainable. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see the mustache commercial? Mr. Fitzgerald began his career at PepsiCo, where he held various leadership roles in finance and planning. Ultimately, the only way to know which gym franchise is right for you is to do your own due diligence. Please confirm by clicking on the Cancel Subscriptionbutton below. 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. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. This document includes information about the franchises financial standing, capital requirements, franchisee training, and ongoing franchise fees, among other crucial information. Absentee Ownership Allowed, Planet Fitness Franchise Info: https://www.planetfitness.com. If you own and operate multiple Planet Fitness businesses in the same market area and LAF spending for them is combined. [6], In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. $10,000, plus our reasonable out-of-pocket expenses, including external legal and administrative costs we incur in connection with the transfer. For example, this includes replacing your cardio equipment every 5 years and replacing your non-cardio equipment every 7 years. 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. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105. 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 . -In thousands and rounded; represents electronic funds presented for draft for the 12 months of calendar year 2019 and 2020, respectively. This information may be different than what you see when you visit a financial institution, service provider or specific products site. 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. has over 8,900 franchises across the country. Find Accurate Contact Data for Fitness Franchise Owners. Pure to Joseph Pilates' original Reformer-based Contrology Method, but modernized with group read more. 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. - In currency of the United Kingdom, the investment comes around 694,900 to 3,040,600. [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. Currently, the Orangetheory franchise 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). [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. "[23], In the fall of 2013, TSG Consumer Partners LLC became an equity partner in the Planet Fitness franchise. - In Malaysian currency, the investment comes around MYR 3,93 million to MYR 17,21 million. 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. Owning a fitness franchise is a fantastic way to enter into the multi-billion dollar fitness industry. We believe everyone should be able to make financial decisions with confidence. 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. At Yum! Planet Fitness competes in the Fitness market against big brand companies such as Orange Theory and Golds Gym. 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. Use this opportunity to ask qualitative questions that you wouldnt necessarily have answered through the FDD, or from the franchisors marketing materialslike how happy they are with the initial training and ongoing support they receive, and their opinions about the overall outlook of the business. in Management Information Systems from Northwood University. Before the pandemic, it was growing at a rate of approximately 200 units a year, which is impressive. The $10 per month level includes access to cardio and strength equipment, unlimited group fitness instruction and pizza and bagels once a month; the $24.99 per month ("Black Card") level allows members to bring one guest per day at no charge, access to all Planet Fitness locations, and access to extra amenities, such as tanning booths, massage chairs, red light therapy and water massage beds. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. Prior to Planet Fitness, Ms. Gosselin worked at Dunkin Brands on the global public relations team. You are going to downgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. And with an incredibly low initial franchise fee and upfront investment, Jazzercise is one of the best low-cost franchises youll find, especially within the health and fitness industry. - In Canadian currency, the investment comes around Can$ 1,231,300 to Can$ 5,387,800. Planet Fitness ( PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. 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? 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. [16] Planet Fitness became known as the "Judgement Free Zone", aimed more at the average user than the bodybuilder type of fitness enthusiast. [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. At that time, Michael Grondahl stepped down as CEO and Chris Rondeau took his place and has held the position since. Initial franchise terms are 10 years. Under Rondeaus 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 Americas Best Franchises, Newsweek Best Customer Service, and Best Places to Work in New Hampshire. Orange Theory uses your heart rate to show your exertion potential compared to the maximal effort and compares you to your peers in classes. Even though its smaller than Pure Barre. - In Saudi Arabia currency, the investment comes around SR 3,64 million to SR 15,91 million. Paul Barber joined Planet Fitness in October 2022 as the Companys Chief Information Officer. Prior to joining the Company, Mr. ODonnell most recently served as Vice President of Finance and Chief Accounting Officer at Sonus Networks. "[22], As early as March 2015, the "Judgement Free Zone" policy was expanded to allow trans women to use the women's locker room. The franchise requires that candidates have access to over $90,000 in liquid capital, and a minimum net worth of $300,000. 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. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see. You must maintain your equipment according to Planet Fitness brand standards. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. Currently, the Planet Fitness franchise has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. Have questions? [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. Planet Fitness estimates the total costs to re-equip your facility with both cardio equipment and all other exercise equipment will range from $314,000 to $922,000 every 5 to 7 years. 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. 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. Prior to Sonus, he worked for more than 10 years in public accounting with both Deloitte and Touche and Arthur Andersen. 1,600+ locations open and we're just getting started! Royalty fees and advertising fees are generally calculated as a percentage of gross sales in franchise agreements, but Anytime Fitness rates are flat from month to month, which makes it easier for you to plan and organize your expenses. [41][42] In October 2015 the company opened their second international location in Santo Domingo, Dominican Republic. You may need additional operating capital, or you may need it for a longer period of time. However, this ultra-famous franchise is the most expensive on this list, with an estimated upfront investment potentially reaching over $5 million. Estimated total initial investment: $1 million to $4.1 million. The second Toronto location opened in early 2015. 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. Looks like your subscription is due. They opened a new gym called Coastal Fitness and the Grondahls hired current CEO. 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. 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. Of the total gross monthly and annual membership fees payable to you via EFT Dues Draft. 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. Paid Grace Period. Former Gov. Owning a UFC Gym means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. We offer detailed franchise research and contact data reports. The Planet Fitness initial franchise fee is $20,000. Assistant Assigning Editor | Small-business finance, personal finance. The chain has over a thousand locations with over 400 units outside the US. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. The estimated total investment necessary to begin the operation of an Orange Theory Franchise ranges from $657,542 to $2,105,322. Kick off your search with this list of nine of the most promising gym franchises to buy. West Hampton, NH 03842, USA, Interested? [49] [50], Since 2015, Planet Fitness has been a personal sponsor of NASCAR driver and champion Joey Logano. Brian ODonnell joined Planet Fitness in February 2016 and currently serves as VP, Chief Accounting Officer. Mind that the franchise requirements for sale could be different depending on the format and scope of business. Prior to Jiffy Lube, he served on Shells global Downstream Acquisitions & Divestments Leadership Team with responsibility for transaction delivery across North and South America. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. Both of these fitness companies, while they differ in business models, use your own fitness data and others to create a competitive atmosphere. Please renew to keep using our services. from Boston University and an M.B.A. from the University of Denver, Daniels College of Business. We were opening our 5th store then. All financial products, shopping products and services are presented without warranty. [27], In February 2016, the franchise was added to the Franchise Times' "Fast and Serious" list of top franchises (No. You have to pay this upfront fee when opening a Planet Fitness franchise. Initial franchise fee: $54,950 to $59,950, Estimated total initial investment: $563,529 to $999,121. All told, their gyms boast over 14 million members worldwide. Previously, she was an editor at Fundera, where she developed service-driven content on topics such as business lending, software and insurance. 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. 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. 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. Across 50 states the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. Due Date: Expended according to Planet Fitness Methods of Operations as per your advertising budget. Franchise. To open a gym, a franchisee must have of $3 million with $1,500,000 in liquid assets. The Fitness Center industry has over 111,000 businesses with a market size of $34 billion, and it supports over 800,000 jobs. It is important to talk to other franchisees and see what their costs were for leasehold improvements and construction. Planet Fitness franchise is one of the largest fitness US chains by a number of members and locations. Here is a list of our partners and here's how we make money. Depending on the location and pre-existing structure that is being purchased, you could see your expenditure being on the lower or higher end of this spectrum. This is a good indication of high growth as a company overall. The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. He began working at Shell in 2001, holding broad and diverse roles including strategy, business development, project management, and deal delivery. 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. 4. Mr. Rondeau also received an honorary doctorate degree from Philadelphia University and received the Universitys honorary innovation medal. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. Since their start in 2002, Anytime Fitness has opened over 4,000 locations on all seven continents. 2% of the total gross monthly EFT Dues Draft. 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. So long as you are not decided on the fitness industry, we recommend you have a look at other offerings. Classroom Training: 80 hours The owner of the franchise (the franchisee) is expected to be involved in all aspects of day-to-day operations. Planet Fitness franchise is growing, and it is growing fast. Orangetheory Fitness provides a totally unique (and seriously hard) group workout experience. Like. Robert Beaupre leads the SMB team at NerdWallet. [61], In January 2020, Planet Fitness partnered with The Biggest Loser to be the official sponsor of the show's 2020 reboot.[62]. We started our business in 1992 and refined our brand for a decade or so before franchising in 2003. Initial Franchise Fee: $20,000 Franchise Description: Planet Fitness Franchising LLC is the franchisor.The ultimate parent company is Planet Fitness, Inc. This influences which products we write about and where and how the product appears on a page. 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. NerdWallet strives to keep its information accurate and up to date. While at Dunkin Brands, he helped lead the technology team that rolled out mobile ordering across 9,000 locations. Comment. ? New franchise owners can also expect to participate in a comprehensive training program, as the franchise requires their franchisees to be certified barre instructors. The number of fitness franchise locations has been steadily increasing to a total of about 2,039. . Many or all of the products featured here are from our partners who compensate us. Due Date: Paid monthly and annually. 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. Bode was also responsible for U.S brand compliance and business development along with leadership positions overseeing training, store development, marketing, and franchising. Throughout her tenure, she has held roles of increasing responsibility, with her most recent position being Vice President of National Marketing. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. Franchise Sales Manager Planet Fitness 4 Liberty Lane West Hampton, NH 03842 Phone: (603) 750-0001 [7] They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. And while our site doesnt feature every company or financial product available on the market, were proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward and free. process lies in obtaining a current list of Planet Fitness franchise owners. [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. From there, youll receive additional materials to help inform your decision, including the all-important franchise agreement, including the franchise disclosure document (FDD). Currently, the. Estimated total initial investment: $303,000 to $499,850. Join PFIFC 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. Verizon Wireless, and Westin, just to name a very few. Compared to $145 million in 2020, they saw an increase of 44% from 2020 to 2021. 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. 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. 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. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. - In currency of Germany, the investment comes around EUR 805,430 to EUR 3,524,180. We provide estimated franchise costs for some countries: 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. Annually Updated with New Owners of Planet Fitness Locations in the USA. [35], The net worth requirement for a Planet Fitness franchise is $3,000,000, while the liquid cash requirement is $1,500,000. We also suggest that you speak to 3 5 Planet Fitness owners before opening one yourself. But buying into a gym franchise is a less risky venture than building a gym from the ground up. 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 leads all aspects of our U.S. The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. Orange Theorys success is quite similar to Pelotons rise to fame.
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