4. [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. [61], In January 2020, Planet Fitness partnered with The Biggest Loser to be the official sponsor of the show's 2020 reboot.[62]. Owning a. means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. Edward Hymes joined Planet Fitness in January 2023 as President and Chief Operating Officer. Prior to Jiffy Lube, he served on Shells global Downstream Acquisitions & Divestments Leadership Team with responsibility for transaction delivery across North and South America. Today, there are Planet Fitness franchise locations around the U.S. as well as Canada and the Dominican Republic. [43], With the addition of a Planet Fitness outlet in Hawaii in January 2018,[44] Planet Fitness had 1,500 locations with an estimated 10 million members across 50 states, the District of Columbia, the Dominican Republic, Mexico, and Panama[45] and Canada. 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. It is important to talk to other franchisees and see what their costs were for leasehold improvements and construction. Planet Fitness has more members and locations than any other fitness brand. Our partners compensate us. The estimated total investment necessary to begin the operation of an Orange Theory Franchise ranges from $657,542 to $2,105,322. 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.
Fitness Franchisee Contact Lists - FranchiseComplaints.org Verizon Wireless, and Westin, just to name a very few.
How Much Does A Planet Fitness Owner Make? - drfranchises.com Many of these are one-time fees that are needed to launch the franchise. 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. As a franchise owner, youll benefit from a proven business model, brand recognition, existing customer base, vendor network, and robust franchisee support system. Due Date: Expended according to Planet Fitness Methods of Operations as per your advertising budget. New franchise owners can also expect to participate in a comprehensive training program, as the franchise requires their franchisees to be certified barre instructors. These figures are estimates based on Planet Fitness and its affiliates experience in operating locations. 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. This is a good indication of high growth as a company overall. Our research and analytics team analyzed over 120 franchise concept investment breakdowns in order to calculate this figure.
Largest Planet Fitness Franchisee Group Acquired by New York Private Classroom Training: 80 hours
Compared to $145 million in 2020, they saw an increase of 44% from 2020 to 2021. Like. The total investment ranges from $728,290 to $3,777,800. They opened a new gym called Coastal Fitness and the Grondahls hired current CEO. 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. Even though its smaller than Pure Barre, The Bar Method franchise is growing quickly: In 2018, The Bar Method saw a 118% growth rate.
Planet Fitness Franchise In other words, franchising takes most of the heavy lifting off your shoulders. 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. Prior to joining Planet Fitness, Mr. Vartanian was a corporate attorney at Devine Millimet. With this purchase, which was for an undisclosed amount, United PF's club count has . Owning a fitness franchise is a fantastic way to enter into the multi-billion dollar fitness industry. 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. In addition, he served as an online media manager for the University of Nevada, Reno. "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." With that said, a Planet Fitness franchise . That said, Orangetheory is designed for people of all fitness levels, since participants can go entirely at their own pace. 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. Owning a UFC Gym means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. 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 This influences which products we write about and where and how the product appears on a page. Initial investments: $969,600 - $4,242,500
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. Mr. ODonnell holds a CPA and received his Bachelors degree in Accounting from Assumption College in Massachusetts. 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. Both within the fitness industry and American culture at large, Golds Gym has become legendary for their famous members (including Arnold Schwarzenegger) and their status as the mecca of bodybuilding. Since their founding by a Merchant Marine veteran in 1965, the Los Angeles-based gym has opened over 700 gyms in 29 states and 29 countries, and their international membership is 3 million devotees strong. In this role, he is responsible for all aspects of financial strategy and management. 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. Throughout her tenure, she has held roles of increasing responsibility, with her most recent position being Vice President of National Marketing. . The number of fitness franchise locations has been steadily increasing to a total of about 2,039. . 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. 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. All financial products, shopping products and services are presented without warranty. Overall, Planet Fitness is making a decent amount of profit, and we also see that the profit chart .
Planet Fitness Gym - Franchise Solutions in Management Information Systems from Northwood University. 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. The policy states that "members and guests may use all gym facilities based on their sincere self-reported gender identity. The Initial Franchise Fee is uniform and non-refundable. Bill Bode serves as Division President, U.S. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out.
Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. Pure Barre has over 500 open locations across North America with tons of available studio markets in the U.S. Paul Barber joined Planet Fitness in October 2022 as the Companys Chief Information Officer. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. Paid Grace Period. [17], As part of their effort to create a non-intimidating environment, Planet Fitness has alienated many serious weight lifters. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. Throughout his tenure at Dunkin Brands, Mr. [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. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105. From there, youll receive additional materials to help inform your decision, including the all-important franchise agreement, including the franchise disclosure document (FDD). In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. Subscribe to our newsletters and keep up-to-date with the latest news in the franchise industry. The initial Planet Fitness Franchise Fee is $20,000. The Judgement Free Zone was started to help first-time gym users feel more comfortable starting their fitness journey. 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. 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 NerdWallet strives to keep its information accurate and up to date. The owner of the franchise (the franchisee) is expected to be involved in all aspects of day-to-day operations. ? Comment. However, this does not influence our evaluations. Estimated annual transaction costs per location range from $9,000- $72,000, Equal to 50% of our then-current initial franchise fee. This information may be different than what you see when you visit a financial institution, service provider or specific products site. To open a gym, a franchisee must have a net worth of $3 million with a minimum of $1,500,000 in liquid assets. 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 Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. Ms. Kaplan has over 20 years of experience, most recently serving as Global Marketing Operations Advisor for Advent International, a global private equity firm. Initial term lengths last 10 years. Franchise fee: one-time $10,000 for a 10-year renewable agreement. 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. Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. 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. He began working at Shell in 2001, holding broad and diverse roles including strategy, business development, project management, and deal delivery. [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. This large discrepancy indicates the potential different costs you could face when building your Orange Theory franchise as a franchisee. Planet Fitness franchise opportunities are proven by 1,500 clubs successfully operating worldwide. There are very few reasons why one might want to open a Planet Fitness franchise. In this role, he oversees the Companys accounting and treasury functions. was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. We reviewed the larger franchise industry as well as selling price multiples for larger systems where more transaction data is available. Building in competition to workouts enhances ones motivation and keeps consumers coming back. You have to pay this upfront fee when opening a Planet Fitness franchise. [44][37] In 2016, over 90% of Planet Fitness locations were opened by existing franchise owners. Gathering all available information about each potential franchise will help you land on the gym that not only works for you financially, but that also resonates with your lifestyle and values. Planet Fitness is a profitable business for the franchisor, with retained earnings of $210 million in 2021. 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. The Planet Fitness initial franchise fee is $20,000. Please renew to keep using our services. "[20] In 2003, Planet Fitness opened its first franchised location in Florida, with Eric Dore and Shane McGuiness. If you are thinking about how to open a Planet Fitness franchise, begin with a franchise investment information. Prior to that, she served as the Vice President of Digital Marketing & Innovation at Dunkin Brands where she was responsible for developing and marketing Dunkins digital platforms, including the DD Mobile app and the DD Perks loyalty program. 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.
Planet Fitness Franchise (Costs + Fees + FDD) | Franchise Direct 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. The private equity owners of United PF Partners, the largest Planet Fitness franchisee conglomerate, have sold the group to American Securities, another New York-based private equity firm, for an undisclosed sum, the companies announced in a Jan. 6 media release. 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 . 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. Franchising Since: 2000. This investment is much higher than the industry standard of $253,000. 4 Liberty Ln. The Planet Fitness franchise was founded in 1992 and has been franchising since 2003. 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. Planet Fitness offers people the opportunity to be a part of the fitness business, but we do not believe this is sustainable. Youre about to cancel your subscription.
The Best Fitness Franchises You Can Buy - Trafft 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. Investing in an Orange Theory franchise is an interesting opportunity, especially for individuals looking to make their way into the Fitness industry. Currently, the. By becoming a franchise owner, you can benefit from a proven business model, existing customer base, and franchisee support system.
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. Looks like your subscription is due. 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. This metric is the standard industry investment amount for a single unit franchise investment in this industry. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. 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 franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. Planet Fitness franchisees also compete against other smaller gym and fitness business locations. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. However, the profit varies on your location also. At the moment we can not connect you to the representative of this franchise. Initial franchise terms are 10 years. 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. 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. Estimated Number of Units: 2,300. 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. She is based in Santa Monica, California. Ms. Medeiros received her Bachelors degree from the University of New Hampshire. [36], The company reports that as of 2019, there are 80 corporate-owned gyms, the rest independently owned and operated. Paid by you to advertisers or Planet Fitness if it elects to collect from you. industry. Mr. Rondeau also received an honorary doctorate degree from Philadelphia University and received the Universitys honorary innovation medal. Franchise candidates can expect to pay anywhere between $354k to $1.2m. 8. 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. Do not sell or share my personal information. Before the pandemic, it was growing at a rate of approximately 200 units a year, which is impressive. Initial franchise fee: $32,000 to $40,000, Estimated total initial investment: $2.2 million to $5 million. Planet Fitness (PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire.
9 Best Gym Franchises - NerdWallet 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. Mind that the franchise requirements for sale could be different depending on the format and scope of business. Liquid Cash Requirement: $1,500,000. The name came from his daughter's school project, "Fitness Planet". Kick off your search with this list of nine of the most promising gym franchises to buy.
History of Planet Fitness in Timeline - Popular Timelines Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). The Grondahls changed the gyms name to Planet Fitness in 1994. Ultimately, the only way to know which gym franchise is right for you is to do your own due diligence. Additional Training: Ongoing training
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). 6.4 miles away from Planet Fitness.