Cash Required $1,500,000. - In Indian currency, the investment comes around Rs 7,14 crores to Rs 31,23 crores. The Fitness Center industry has over 111,000 businesses with a market size of $34 billion, and it supports over 800,000 jobs. In 2020, he joined the International Franchise Association (IFA) Board of Directors; board members are drawn from a world-class set of franchise brands. 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. Our franchise contact lists contain contact details for both owners of single franchise units and multi-unit franchise owners, that is, franchisees that own many franchised locations. [28] It ranked in the top 50 of Entrepreneur magazine's Franchise 500 in 2017. 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. 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. We believe everyone should be able to make financial decisions with confidence. As can be seen, Planet Fitness stock has outpaced the S&P 500 by almost 2x. 10 Qualities of Highly Successful Fitness Franchise Owners In this role, he has overall leadership and accountability of the brands primary revenue producing business segments, including U.S. and international franchise operations and development, equipment sales, and Corporate stores, in addition to both the technology and legal functions. Benson, who co-founded the former Cabletron Systems, once the . Call (888) 977-4374. Join PFIFC [16] Planet Fitness became known as the "Judgement Free Zone", aimed more at the average user than the bodybuilder type of fitness enthusiast. 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. It is reported to be the nations fastest growing fitness center franchise. Your experience may vary depending on whether you finance tenant improvements, your location, and other factors. Even after the pandemic hit, it continued to grow at a rate of over 100 units. Pre-qualified offers are not binding. Like. Corporate Governance - Management Team - Planet Fitness 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. 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. According to their website, Pure Barre is the oldest and most established barre studio out there. 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. "[21] Planet Fitness has been criticized for prohibiting certain weightlifting exercisessuch as deadlifts and clean-and-jerksthat many experts believe are highly effective. 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 Even more reason to consider investing in a gym franchise? Since their start in 2002, Anytime Fitness has opened over 4,000 locations on all seven continents. [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. Orange Theory was ranked 49th in the franchise 500 rankings according to entrepreneur.com. 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. Planet Fitness Franchise Ownership FAQs - smallbiztrends.com By becoming a franchise owner, you can benefit from a proven business model, existing customer base, and franchisee support system. [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 franchise was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. Year Business Began: 1992. Currently, the. 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. We also suggest that you speak to 3 5 Planet Fitness owners before opening one yourself. 6.4 miles away from Planet Fitness. 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. However, this does not influence our evaluations. We started our business in 1992 and refined our brand for a decade or so before franchising in 2003. service, Computer System. 1. This routine is an 18-minute HIIT workout that targets cardio and endurance. - In Malaysian currency, the investment comes around MYR 3,93 million to MYR 17,21 million. [36], The company reports that as of 2019, there are 80 corporate-owned gyms, the rest independently owned and operated. Review the chart below to see how much it costs to buy a Planet Fitness franchise in 2022. You'll build confidence while increasing your fitness knowledge. As a franchise owner, youll benefit from a proven business model, brand recognition, existing customer base, vendor network, and robust franchisee support system. This information may be different than what you see when you visit a financial institution, service provider or specific products site. 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. Due Date: Expended according to Planet Fitness Methods of Operations as per your advertising budget. Please confirm by clicking on the Cancel Subscriptionbutton below. 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. Franchise Description: Planet Fitness Franchising LLC is the franchisor.The ultimate parent company is Planet Fitness, Inc. [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. Planet Fitness ( PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. [14] Berks later went on to open the first Youfit Health Club in St. Petersburg, Florida. Mr. Hymes has over 30 years of experience leading domestic and international retail, franchise, and e-commerce businesses for global companies, most recently serving as the President and Chief Executive Officer of Jiffy Lube International. 8. For example, this includes replacing your cardio equipment every 5 years and replacing your non-cardio equipment every 7 years. Prior to joining Planet Fitness, Mr. Planet Fitness franchise opportunities are proven by 1,500 clubs successfully operating worldwide. Sorry. Youre about to cancel your subscription. - In Saudi Arabia currency, the investment comes around SR 3,64 million to SR 15,91 million. 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. 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. Ongoing Royalty Fee: $449 - $549/mo. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. This model has become extremely sticky in the fitness industry because while many people want to achieve their fitness goals, they innately lack motivation. 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. 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. Planet Fitness Franchise | Cost, Fees & Earning Stats (2023) Orange Theory Franchise was founded in Boca Raton, Florida in 2009. Previously, he was the Chief Technology Officer at Airline Report Corporation, where he modernized the technology needed to process billions of dollars in payments annually. In this role, he is responsible for all aspects of financial strategy and management. In other words, franchising takes most of the heavy lifting off your shoulders. An individual planet fitness franchise owner can make around $513,00 to $5,554,000 annually. Planet Fitness competes in the Fitness market against big brand companies such as Orange Theory and Golds Gym. Mind that the franchise requirements for sale could be different depending on the format and scope of business. Who Owns Planet Fitness? (Franchise, CEO & More) - Trusty Spotter [7] They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. He began working at Shell in 2001, holding broad and diverse roles including strategy, business development, project management, and deal delivery. The second Toronto location opened in early 2015. This document includes information about the franchises financial standing, capital requirements, franchisee training, and ongoing franchise fees, among other crucial information. All told, their gyms boast over 14 million members worldwide. Even more reason to consider investing in a gym franchise? We provide estimated franchise costs for some countries: He joined Planet Fitness in 2016 as the Senior Vice President of Franchise Operations. Initial investments: $969,600 - $4,242,500 Net Worth Requirement: $3,000,000 Liquid Cash Requirement: $1,500,000 Estimated Initial Investment As a result, she has played an instrumental role in the major strategic decisions made by the Company. Their website reads, We are not currently accepting new franchisee applications for US expansion.. [44][37] In 2016, over 90% of Planet Fitness locations were opened by existing franchise owners. Initial franchise fee: $32,000 to $40,000, Estimated total initial investment: $2.2 million to $5 million. The initial Planet Fitness Franchise Fee is $20,000. 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. 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. So how do we make money? The Grondahls changed the gyms name to Planet Fitness in 1994. The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer Access|Licenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812, Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc. (CA resident license no. 4 Liberty Ln. 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 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. Previously, she was an editor at Fundera, where she developed service-driven content on topics such as business lending, software and insurance. The total investment ranges from $728,290 to $3,777,800. If a fitness business with a franchise sounds good, heres nine of the most promising options for a gym franchise. It offers classes for dance, aqua, cycle, box, pilates, and many more. Overall, Planet Fitness is making a decent amount of profit, and we also see that the profit chart . In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. Planet Fitness Franchise Costs, Fees, Revenues, Profits (2022 Review) Estimated total initial investment: $304,500 to $2.1 million. This influences which products we write about and where and how the product appears on a page. Prior to Dunkin, she worked at various communications agencies in both Boston and Washington, DC on behalf of various leading retail brands. Planet Fitness Fitness clubs 2023 Franchise 500 Rank #28 Ranked #7 last year See the Full List Initial investment $1.6M - $4.9M Units as of 2022 2,324 25.0% over 3 years Jump to Franchising. Planet Fitness growth continued over the next decade and in 2013, TSG Consumer Partners, LLC became an equity partner in the Planet Fitness franchise. 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. Our research and analytics team analyzed over 120 franchise concept investment breakdowns in order to calculate this figure. Across 50 states the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia Benson is back on the board of Planet Fitness McCall Gosselin joined Planet Fitness in January 2013 and currently serves as SVP of Communications and Corporate Social Responsibility. [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. With this purchase, which was for an undisclosed amount, United PF's club count has . in Management Information Systems from Northwood University. Today the brand has over 2,000 locations system-wide. You must maintain the franchise premises according to Planet Fitness brand standards. 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. Our partners compensate us. [34] The royalty fee for a Planet Fitness is 7% of the total gross monthly and annual membership fees. Brands, he supported the team tasked with transforming and modernizing technology and data systems both domestically for KFC and internationally in Australia for Pizza Hut. Planet Fitness Franchise That said, Orangetheory is designed for people of all fitness levels, since participants can go entirely at their own pace. 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 four years the Initial Franchise Fee for each location opened under the Area Development Agreement will be equal to then-current Initial Franchise Fee being charged to new franchisees. The fitness center industry has grown with the rise in disposable income and demand for a more health-conscious lifestyle among millennials. 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). Prior to that he served as the Chief Operating Officer since 2003. 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. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. Ms. Kaplan holds a B.S. 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. It is important to talk to other franchisees and see what their costs were for leasehold improvements and construction. Club Pilates North Shore is a boutique Pilates studio specializing in reformer fusion classes for anyone, at any age or fitness level. On this Wikipedia the language links are at the top of the page across from the article title. Planet Fitness franchisees also compete against other smaller gym and fitness business locations. 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. Both franchising units and company-operated stores have increased. 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. 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. When evaluating offers, please review the financial institutions Terms and Conditions. You have to pay this upfront fee when opening a Planet Fitness franchise. 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. But perhaps most important to this process is interviewing current franchisees. industry. 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. Annually Updated with New Owners of Planet Fitness Locations in the USA. Even though its smaller than Pure Barre. This article originally appeared on JustBusiness, a subsidiary of NerdWallet. 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. [35], The net worth requirement for a Planet Fitness franchise is $3,000,000, while the liquid cash requirement is $1,500,000. 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. Find Accurate Contact Data for Fitness Franchise Owners. However, this ultra-famous franchise is the most expensive on this list, with an estimated upfront investment potentially reaching over $5 million. According to their website, Pure Barre is the oldest and most established barre studio out there. 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. Please renew to keep using our services. When you go to sell a Planet Fitness franchise based on the median multiple of .67 and net sales in 2021 of $1,545,877, it would sell for $1,035,737. Franchising Since: 2000. Prior to Planet Fitness, Ms. Gosselin worked at Dunkin Brands on the global public relations team. This FREE 10-part progressive program will help you get movin'. The policy states that "members and guests may use all gym facilities based on their sincere self-reported gender identity. 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. 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. Franchise Division including leading the operations, development and construction, vendor management and local marketing execution teams. The highest Planet Fitness franchise made over 3 million dollars in revenue, whereas the lowest earning one made $165,000. Paul Barber joined Planet Fitness in October 2022 as the Companys Chief Information Officer. Then, the last four workouts in the program will take place in the gym and you'll learn how . [11][12] Berks had been catering to the bodybuilding culture in his Gold's Gym. Ms. Medeiros received her Bachelors degree from the University of New Hampshire. Now, youd be hard-pressed to find a gym franchise that doesnt offer some form of barre class, but owning a Pure Barre franchise takes you straight to the source. He also currently serves on the Board of Directors of the NH/VT/ME Region of the American Red Cross and the Business & Industry Association of New Hampshire. | United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. - In currency of Germany, the investment comes around EUR 805,430 to EUR 3,524,180. Golds Gym also requires that potential franchisees have a minimum of $1 million in net worth and $400,000 in liquid assets. You are going to downgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. Browse 1000s of reports on 1000s of franchise systems. 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. 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 the United States, the total investment to start the Planet Fitness gym is around $969,600 to $4,242,500. ", "2017 Top Franchises from Entrepreneur's Franchise 500 List", "Planet Fitness members outraged over March bill amid coronavirus closures", "Planet Fitness CEO says gym visits are holding up against the omicron variant", "Planet Fitness Seeing Minimal Impact So Far From Omicron", "Planet Fitness Franchise (Costs + Fees + FDD)", "Planet Fitness Franchise Costs & Fees, Planet Fitness FDD & Franchise Information | FranchiseDirect.com", "Planet Fitness Franchise Cost & Fees | How To Open | Opportunities And Investment Information", "Planet Fitness Prices & Membership Cost", "17 January Gym Discounts That Are Too Cheap to Pass Up", "Planet Fitness is raising the price of its Black Card membership but still offers a $10 option", "American gym powerhouse chooses Brampton for first suburban Canadian location", "Cheap 'n' cheerful chinups: Canada welcomes Planet Fitness, the $10 gym for those bad at gym", "Planet Fitness Continues International Expansion in Dominican Republic", "Planet Fitness opens first Hawaii location at Ala Moana Center", "10 Million Reasons to Get Pumped About Planet Fitness", "Planet Fitness to Sponsor 'The Biggest Loser', "50 Cent and Joan Rivers Kick It At The Gym [PHOTOS]", "Planet Fitness To Launch New Global Campaign On New Year's Eve", "Planet Fitness sponsors New Year's Eve celebration despite pandemic", "David Gilliland Racing Fielding Fourth Entry for Joey Logano in Bristol Dirt Race", "The Judgement Free Zone: Judgement Free Generation Video Contest", "Planet Fitness Opens In Fremont, Donates $1K To Boys & Girls Club", "Planet Fitness 'Judgment Free Zones' a Model of Inclusion", "Planet Fitness Anti-Bullying Initiative $1M Success", "Planet Fitness debuts fitness room for kids at Boys and Girls Club in Manchester", "Planet Fitness Opens Judgement Free Gym at Pasadena Boys and Girls Club", "Planet Fitness raises $1M for Boys and Girls Clubs of America", "Planet Fitness named national gym sponsor of 'The Biggest Loser', https://en.wikipedia.org/w/index.php?title=Planet_Fitness&oldid=1142494313, Companies based in Rockingham County, New Hampshire, Companies listed on the New York Stock Exchange, Health care companies established in 1992, Medical and health organizations based in New Hampshire, Short description is different from Wikidata, All Wikipedia articles written in American English, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 2 March 2023, at 18:29.
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