Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. [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. Share. LearningRx Franchise Corporation 5085 List Drive, #200 Colorado Springs, CO 80919 Phone: (719) 264-8808 Liz Anderson . - In Malaysian currency, the investment comes around MYR 3,93 million to MYR 17,21 million. 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. Across 50 states the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia Initial term lengths last 10 years. Franchising | Planet Fitness You may need additional operating capital, or you may need it for a longer period of time. Robert Beaupre leads the SMB team at NerdWallet. The estimated total investment necessary to begin the operation of a Planet Fitness Franchise ranges from $1,625,600 $4,921,000. 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. Review the chart below to see how much it costs to buy a Planet Fitness franchise in 2022. Over the last three years, franchises have opened at a rate of 148 units a year. The most popular workout model from Snap Fitness is known as MYFIT. We offer the most complete and most accurate mailing/telemarketing list for Planet Fitness franchise owners. Estimated total initial investment: $58,870 to $521,437. - In Canadian currency, the investment comes around Can$ 1,231,300 to Can$ 5,387,800. 4 Liberty Ln. Order now to get instant access to the complete Planet Fitness franchise owners. An individual planet fitness franchise owner can make around $513,00 to $5,554,000 annually. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. They provide an affordable, high-quality fitness experience in a welcoming environment. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. That said, as of June 2022, Planet Fitness has paused offering franchises. All financial products, shopping products and services are presented without warranty. The Planet Fitness franchise was founded in 1992 and has been franchising since 2003. This model has become extremely sticky in the fitness industry because while many people want to achieve their fitness goals, they innately lack motivation. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. * 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. All told, their gyms boast over 14 million members worldwide. Planet Fitness businesses are fitness training facilities offering exercise machines and free weights, fitness training services, tanning services . The policy states that "members and guests may use all gym facilities based on their sincere self-reported gender identity. Planet Fitness Franchise Cost and Requirements for 2023 - IFPG - In Indian currency, the investment comes around Rs 7,14 crores to Rs 31,23 crores. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. Ad Royalty Fee: $300/mo. Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing gym franchises in the United States. Prior to joining Planet Fitness, Mr. In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. This large discrepancy indicates the potential different costs you could face when building your Orange Theory franchise as a franchisee. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. in Management Information Systems from Northwood University. is growing quickly: In 2018, The Bar Method saw a 118% growth rate. 2% of the total gross monthly EFT Dues Draft. Burn Boot Camp Even more reason to consider investing in a gym franchise? Planet Fitness Franchise Costs, Fees, Revenues, Profits (2022 Review) Former Gov. Planet Fitness Gym - Franchise Solutions Initial franchise fee: $54,950 to $59,950, Estimated total initial investment: $563,529 to $999,121. 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. Franchise Description: Planet Fitness Franchising LLC is the franchisor.The ultimate parent company is Planet Fitness, Inc. [32][33], Planet Fitness started franchising units in 2003. Planet Fitness Franchise Cost & Fees | How To Open | Opportunities And Compared to $145 million in 2020, they saw an increase of 44% from 2020 to 2021. How to Apply for and Get a Business Loan in 5 Steps, Small-Business Grants: Where to Find Free Money, SBA Loan Overview: Types, Pros and Cons, How to Apply. 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. Planet Fitness franchise was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. has over 8,900 franchises across the country. 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. Overall, Planet Fitness is making a decent amount of profit, and we also see that the profit chart . Fitness centers have experienced sustained growth since the post-economic crisis in 2009. 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. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. [37], The club's two membership levels are $10 and $24.99 per month in the United states[38] and in Canada they charge $15 and $25 per month. 4. This article originally appeared on JustBusiness, a subsidiary of NerdWallet. Initial franchise terms are 10 years. [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. Planet Fitness growth continued over the next decade and in 2013, TSG Consumer Partners, LLC became an equity partner in the Planet Fitness franchise. Although gym franchises require that the owner has previous management experience, most dont require experience in the fitness industry. On this Wikipedia the language links are at the top of the page across from the article title. While at Dunkin Brands, he helped lead the technology team that rolled out mobile ordering across 9,000 locations. Please confirm by clicking on the Cancel Subscriptionbutton below. Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. Headquarters: Hampton, New Hampshire. Kick off your search with this list of nine of the most promising gym franchises to buy. Then, the last four workouts in the program will take place in the gym and you'll learn how . Please scroll down for a partial list of franchise businesses. 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. Throughout her tenure, she has held roles of increasing responsibility, with her most recent position being Vice President of National Marketing. 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. Total Investment $728,290 - $3,777,800. History of Planet Fitness in Timeline - Popular Timelines 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. SVP Communications and Corporate Social Responsibility, General Counsel and SVP, International Division. This routine is an 18-minute HIIT workout that targets cardio and endurance. Orange Theory uses your heart rate to show your exertion potential compared to the maximal effort and compares you to your peers in classes. 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. 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 Estimated total initial investment: $198,650 to $446,250. The Planet Fitness initial franchise fee is $20,000. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. [25][26] The company went public on August 6, 2015. [41][42] In October 2015 the company opened their second international location in Santo Domingo, Dominican Republic. [28] It ranked in the top 50 of Entrepreneur magazine's Franchise 500 in 2017. Many or all of the products featured here are from our partners who compensate us. At the moment we can not connect you to the representative of this franchise. 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. The Planet Fitness franchise sets itself apart from other gyms by being the "Judgement Free Zone" where everyone can feel comfo. When evaluating offers, please review the financial institutions Terms and Conditions. How Much Does A Planet Fitness Owner Make? - drfranchises.com You must maintain the franchise premises according to Planet Fitness brand standards. [47], In March 2013, Planet Fitness partnered with 50 Cent to sell his energy drink "Street King". Start a Planet Fitness Franchise in 2023 - Entrepreneur As can be seen, Planet Fitness stock has outpaced the S&P 500 by almost 2x. 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. 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 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. Comment. was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. subject to maximum fee of $40,000, Concurrently with our granting a successor franchise to you, Actual costs (approximately $1,200 per visit), Cure Period Extension Fee (Franchise Agreement), Paid monthly via EFT on the day designated as your Monthly Membership Billing Day, as defined in our Franchise Agreement, Grace Period Fee (Area Development Agreement), Paid monthly beginning on the first day of the With that accessible attitude in mind, Planet Fitness tries particularly to target the 80% of the American and Canadian population who dont have gym memberships. Our partners compensate us. 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. This could be an indicator that franchisees are doing really well. 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. 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). She received her Bachelors degree from Eastern Connecticut State University. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. Absentee Ownership Allowed, Planet Fitness Franchise Info: https://www.planetfitness.com. Ms. Gentilozzi is a certified Senior Professional in Human Resources (SPHR). Mr. Rondeau also received an honorary doctorate degree from Philadelphia University and received the Universitys honorary innovation medal. Be advised to match Planet Fitness franchise cost and profit by analyzing low and high fees you need to pay starting a Planet Fitness franchise. The 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. Looks like your subscription is due. Our opinions are our own. $10,000, plus our reasonable out-of-pocket expenses, including external legal and administrative costs we incur in connection with the transfer. 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. 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. This document includes information about the franchises financial standing, capital requirements, franchisee training, and ongoing franchise fees, among other crucial information. He joined Planet Fitness in 2016 as the Senior Vice President of Franchise Operations. Even though the history of barre dates back to 1959, when the discipline was created by former ballerina Lotte Berk, the ballet/Pilates/yoga hybrid saw a huge boom in the 2010s. So long as you are not decided on the fitness industry, we recommend you have a look at other offerings. Pure Barre has over 500 open locations across North America with tons of available studio markets in the U.S. 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. Follow along as PF Trainer Teddy teaches you the basics of fitness, right in the comfort of your own home. 1 comment. 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). We also suggest that you speak to 3 5 Planet Fitness owners before opening one yourself. The difficult part of this step of the franchise buying due diligence process lies in obtaining a current list of Planet Fitness franchise owners. Wed recommend meeting with your bank or accountant to help you determine which franchise is financially doable for you right now. Top Fitness Franchises to Check Out - Franchise How She has also held editing roles at LearnVest, a personal finance startup, and its parent company, Northwestern Mutual. 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. 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. Benson is back on the board of Planet Fitness Franchise Sales Manager Planet Fitness 4 Liberty Lane West Hampton, NH 03842 Phone: (603) 750-0001 Assistant Assigning Editor | Small-business finance, personal finance. service, Computer System. The Judgement Free Zone was started to help first-time gym users feel more comfortable starting their fitness journey. Estimated annual transaction costs per location range from $9,000- $72,000, Equal to 50% of our then-current initial franchise fee. The initial Planet Fitness Franchise Fee is $20,000. Planet Fitness Initial franchise fee: $20,000 Estimated total initial investment: $1 million to $4.1 million Planet Fitness trademarked the phrase "judgment free zone," so that alone. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. Franchising began one year later, and today Orange Theory studios can be found in 18 countries, and across 49 states. [49] [50], Since 2015, Planet Fitness has been a personal sponsor of NASCAR driver and champion Joey Logano. In this role, she oversees general HR operations, talent acquisition, leadership development, business partner support, culture and employee engagement, benefits and compensation. We were opening our 5th store then. 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 This is a good indication of high growth as a company overall. Planet Fitness, Inc. to Acquire 114 Locations From One of Its Top In this role, she is responsible for all aspects of the companys internal and external communications, including public relations, crisis management, executive communications, philanthropy, community relations and sustainability. [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. [4], In October 2011, Planet Fitness reached an agreement with NBC to sponsor the network's reality show The Biggest Loser beginning with the 2012 season. 8. [6], In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. The initial Planet Fitness Franchise Fee is $20,000. The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. [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. 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. Paid Grace Period. We got you! Planet Fitness franchise opportunities are proven by 1,500 clubs successfully operating worldwide. Planet Fitness offers people the opportunity to be a part of the fitness business, but we do not believe this is sustainable. Planet Fitness Franchise | Cost, Fees & Earning Stats (2023) From there, youll receive additional materials to help inform your decision, including the all-important franchise agreement, including the franchise disclosure document (FDD). If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. 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. An innovative entrepreneur, Mr. Rondeau was honored as an EY Entrepreneur of the Year and inducted into the UNH Alumni Entrepreneur Hall of Fame. There are some units of Planet fitness franchisees making more than that or some making less than that. You'll build confidence while increasing your fitness knowledge. Franchise. has opened over 4,000 locations on all seven continents. -In thousands and rounded; represents electronic funds presented for draft for the 12 months of calendar year 2019 and 2020, respectively. [48], Since December 2014, Planet Fitness has been the official fitness sponsor of Dick Clark's New Year's Rockin' Eve on ABC. Fitness Franchisee Contact Lists - FranchiseComplaints.org 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. Even if your network of Planet Fitness franchises earns above $% a million, you will not be able to recover costs just by selling it. [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. [14] Berks later went on to open the first Youfit Health Club in St. Petersburg, Florida. Here is a list of our partners. The number of fitness franchise locations has been steadily increasing to a total of about 2,039. . If you are thinking about how to open a Planet Fitness franchise, begin with a franchise investment information. 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. 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. Orangetheory Fitness provides a totally unique (and seriously hard) group workout experience. Building in competition to workouts enhances ones motivation and keeps consumers coming back. 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. Previously, she was an editor at Fundera, where she developed service-driven content on topics such as business lending, software and insurance. Call (888) 977-4374. This investment is much higher than the industry standard of $253,000. 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. 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. Largest Planet Fitness Franchisee Acquires 19 Planet Fitness Clubs in 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. These numbers indicate that potential earnings can vary significantly, and it depends on factors such as locations and how well the business is run. - In Mexican currency, the investment comes around Peso 20,19 million to Peso 88,33 million. Even though its smaller than Pure Barre. 1),[16] and in its 2016 ranking of franchises, Forbes magazine ranked Planet Fitness No. Chris Rondeau has served as the Chief Executive Officer of Planet Fitness since January 2013. 1. [16] Planet Fitness became known as the "Judgement Free Zone", aimed more at the average user than the bodybuilder type of fitness enthusiast. You must be logged in to view this form. Pre-qualified offers are not binding. Ms. Medeiros received her Bachelors degree from the University of New Hampshire. JLM Financial Partners, Austin, Texas, and Eagle Merchant Partners, Atlanta .
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