[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. In other words, franchising takes most of the heavy lifting off your shoulders. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. To open a gym, a franchisee must have a net worth of $3 million with a minimum of $1,500,000 in liquid assets. JLM Financial Partners, Austin, Texas, and Eagle Merchant Partners, Atlanta . You have to pay this upfront fee when opening a Planet Fitness franchise. has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. After you cover your startup costs, your total gross monthly take could greatly exceed your expectations, depending on how many memberships you sell. Investing in an Orange Theory franchise is an interesting opportunity, especially for individuals looking to make their way into the Fitness industry. Headquarters: Hampton, New Hampshire. The second Toronto location opened in early 2015. Here is a list of our partners and here's how we make money. Christine Aebischer is an assistant assigning editor on the small-business team at NerdWallet who has covered business and personal finance for nearly a decade. It offers classes for dance, aqua, cycle, box, pilates, and many more. Have questions? Initial investments: $969,600 - $4,242,500 Prior to Sonus, he worked for more than 10 years in public accounting with both Deloitte and Touche and Arthur Andersen. The chain has over a thousand locations with over 400 units outside the US. There are both advantages and disadvantages of franchising, so make sure you weigh both sides thoroughly. 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). Initial franchise fee: $32,000 to $40,000, Estimated total initial investment: $2.2 million to $5 million. You'll also benefit from . Prior to Planet Fitness, Ms. Gosselin worked at Dunkin Brands on the global public relations team. Orange Theory was ranked 49th in the franchise 500 rankings according to entrepreneur.com. 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 The fitness center industry has grown with the rise in disposable income and demand for a more health-conscious lifestyle among millennials. Please renew to keep using our services. PLANET FITNESS - 57 Photos & 19 Reviews - Yelp The minimum net worth required to own an Orange Theory franchise is $500,000 and the applicant must have liquid assets of at least $150,000. If you own and operate multiple Planet Fitness businesses in the same market area and LAF spending for them is combined. [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 Franchise | Cost, Fees & Earning Stats (2023) Liquid Cash Requirement: $1,500,000. 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. Fitness centers have experienced sustained growth since the post-economic crisis in 2009. [41][42] In October 2015 the company opened their second international location in Santo Domingo, Dominican Republic. Jennifer Simmons joined Planet Fitness in 2013 as a business analyst, later joining the executive leadership team as Senior Vice President of Business Strategy and Analytics and in 2022 was named Division President, Corporate Clubs. They provide an affordable, high-quality fitness experience in a welcoming environment. According to their website, Pure Barre is the oldest and most established barre studio out there. The Area Development Fee is uniform and non-refundable. process lies in obtaining a current list of Planet Fitness franchise owners. [28] It ranked in the top 50 of Entrepreneur magazine's Franchise 500 in 2017. We believe that this franchise is an option for those that are passionate about fitness and are willing to put in the hours to make the business run smoothly. We got you! 6.4 miles away from Planet Fitness. The number of fitness franchise locations has been steadily increasing to a total of about 2,039. . from Boston University and an M.B.A. from the University of Denver, Daniels College of Business. -In thousands and rounded; represents electronic funds presented for draft for the 12 months of calendar year 2019 and 2020, respectively. Your Royalty payment is currently based on the total gross monthly and annual membership fees for the Planet Fitness business that are due and payable to you each month and annually, as applicable, by or on behalf of your members through authorized EFT withdrawals (the EFT Dues Draft), regardless of the amount of membership fees you collect. Top Fitness Franchises to Check Out - Franchise How 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. Call (888) 977-4374. Your actual costs may be higher or lower depending on the size and location of your Planet Fitness business. 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. Looks like your subscription is due. [27], In February 2016, the franchise was added to the Franchise Times' "Fast and Serious" list of top franchises (No. [36], The company reports that as of 2019, there are 80 corporate-owned gyms, the rest independently owned and operated. in Pilates. Today, there are Planet Fitness franchise locations around the U.S. as well as Canada and the Dominican Republic. Former Gov. 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. Kick off your search with this list of nine of the most promising gym franchises to buy. Pre-qualified offers are not binding. Co-founder, Elle Latham, decided to open a gym to implement her personally designed workout, which eventually became the basis for Orange Theorys system. Planet Fitness (PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. 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. 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 Saudi Arabia currency, the investment comes around SR 3,64 million to SR 15,91 million. Verizon Wireless, and Westin, just to name a very few. 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. Owning a fitness franchise is a fantastic way to enter into the multi-billion dollar fitness industry. Fitness Franchisee Contact Lists - FranchiseComplaints.org We now have: 2,400+ locations open (and we're just getting started!) 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. Upon your submission of your Construction Development Plans for our approval, Point of Sale Support, Processing and Account Management Services Fees, $149-$199 plus processing and credit card fees based on the number of transactions processed per month or number of eligible accounts enrolled in collections. The biggest expenses in the additional costs section are leasehold improvements and construction costs which vary greatly from $1,250,000 to $2,163,000. 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. To open a gym, a franchisee must have of $3 million with $1,500,000 in liquid assets. Planet Fitness Franchise Owners Contact List This influences which products we write about and where and how the product appears on a page. 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. All told, their gyms boast over 14 million members worldwide. They opened a new gym called Coastal Fitness and the Grondahls hired current CEO. 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. Planet Fitness estimates the costs to upgrade and/or remodel your facility will range from $70,000 to $600,000 every 5 years. - In currency of Germany, the investment comes around EUR 805,430 to EUR 3,524,180. "[21] Planet Fitness has been criticized for prohibiting certain weightlifting exercisessuch as deadlifts and clean-and-jerksthat many experts believe are highly effective. Annually Updated with New Owners of Planet Fitness Locations in the USA. [52], In March 2016, Planet Fitness partnered with STOMP Out Bullying,[53] a national organization dedicated to bullying prevention, and the Boys & Girls Clubs of America to launch the company's national philanthropic initiative to address bullying, The Judgement Free Generation. Planet Fitness Announces 2019 Franchise Awards Disclaimer: NerdWallet strives to keep its information accurate and up to date. - In Indian currency, the investment comes around Rs 7,14 crores to Rs 31,23 crores. 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. 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. Greater of $60,000 or 7% of the total gross monthly membership fees payable to you via EFT in a quarter, and the greatest of $5,000 or 3% of the total gross monthly membership fees payable to you via EFT in a month. Justin Vartanian serves as General Counsel and SVP, International Division overseeing all legal matters and international development. [19] According to a Planet Money episode from 2014, "half of the Planet Fitness members don't ever go to their gyms. https://www.palmbeachpost.com/story/business/2012/05/19/at-youfit-health-clubs-patrons/7332606007/, "Planet Fitness headquarters moving to Hampton", "Planet Fitness Sets New Membership Records", "4 international franchises that landed Down Under in 2019", "The fastest-growing gym in America has $10 memberships and gives out free pizza, bagels, and candy", "Fit for franchising: From first gym in Dover, Planet Fitness building big brand", https://www.franchise-info.ca/franchise_news/2014/01/how-planet-fitness-became-the-leader-in-fitness-franchising.html#.Y-Hc-BZMEWM, "How Planet Fitness Became the Leader in Fitness Franchising - News", "Marc Grondahl of Planet Fitness: How a Lean Business Model Became a Franchise Heavyweight", "YouFit Health Club expanding across South Florida, around nation | The Starting Gate", "No-frills gym offers fitness without flash", "Fast and Serious: FT ranks the smartest-growing brands", "Franchise Players: We Were Planet Fitness's First Franchisees. Franchise candidates can expect to pay anywhere between $354k to $1.2m. This is a good indication of high growth as a company overall. 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. 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. Planet Fitness competes in the Fitness market against big brand companies such as Orange Theory and Golds Gym. Franchising | Planet Fitness Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing gym franchises in the United States. 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. "[22], As early as March 2015, the "Judgement Free Zone" policy was expanded to allow trans women to use the women's locker room. 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). According to Franchise Direct, the initial franchise fee is $20,000, while the area development fee is $10,000. Planet Fitness Franchise Costs, Fees, Revenues, Profits (2022 Review) Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. Brian ODonnell joined Planet Fitness in February 2016 and currently serves as VP, Chief Accounting Officer. was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. Even more reason to consider investing in a gym franchise? Prior to joining the Company, Mr. ODonnell most recently served as Vice President of Finance and Chief Accounting Officer at Sonus Networks. 1,600+ locations open and we're just getting started! The initial Planet Fitness Franchise Fee is $20,000. Although gym franchises require that the owner has previous management experience, most dont require experience in the fitness industry. All financial products, shopping products and services are presented without warranty. Join now to become a registered PFIFC member and gain access to a wealth of information that will help you succeed as a Planet Fitness owner. Estimated annual transaction costs per location range from $9,000- $72,000, Equal to 50% of our then-current initial franchise fee. Planet Fitness Franchise (Costs + Fees + FDD) | Franchise Direct Our opinions are our own. 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. Before the pandemic, it was growing at a rate of approximately 200 units a year, which is impressive. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. 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. Based on a midpoint investment of $1,378,500 with estimated profits of $94,820 (10% profit margin) it would take about 15 years to recoup your investment. Kathy Gentilozzi joined Planet Fitness in 2019 as the Companys Chief People Officer. - In Canadian currency, the investment comes around Can$ 1,231,300 to Can$ 5,387,800. In fact, in a recent Inc. 5000 list of the 10 fastest growing franchises, four were fitness franchises. [17] They also dramatically reduced prices to compete against better-known brands. 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. Pure Barre has over 500 open locations across North America with tons of available studio markets in the U.S. Classroom Training: 80 hours [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. 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. Lead Assigning Editor | Small business finances, investing, banking. The Initial Franchise Fee is uniform and non-refundable. 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. Orange Theorys success is quite similar to Pelotons rise to fame. By becoming a franchise owner, you can benefit from a proven business model, existing customer base, and franchisee support system. New franchise owners can also expect to participate in a comprehensive training program, as the franchise requires their franchisees to be certified barre instructors. One of the best ways to thoroughly research a franchise or business opportunity investment before purchasing one is to get feedback from current and former franchisees involved in the franchise system. Even though its smaller than Pure Barre. Even though its smaller than Pure Barre, The Bar Method franchise is growing quickly: In 2018, The Bar Method saw a 118% growth rate. As of December 2021, 98% of all franchised stores were owned and operated by A franchisee group that owned at least three stores, and while Planet Fitness Largest franchisee owned 175 Stores, Only 33% of its franchisee groups own more than 10 stores. Franchise. Here is a list of our partners. 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. [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. 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 was an editor at Fundera, where she developed service-driven content on topics such as business lending, software and insurance. 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. 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. 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. The Planet Fitness franchise sets itself apart from other gyms by being the "Judgement Free Zone" where everyone can feel comfo. 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. Fitness franchises are currently booming with the largest franchises globally being Anytime Fitness and Planet Fitness. Estimated total initial investment: $303,000 to $499,850. Get in touch with Planet Fitness Owners from around the US with verified contact data for all owners of all Planet Fitness locations. Golds Gym also requires that potential franchisees have a minimum of $1 million in net worth and $400,000 in liquid assets. Its also a good idea to reach out to at least a few former Planet Fitness franchisees to find out why they left or were terminated from the franchise system. 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. There are some units of Planet fitness franchisees making more than that or some making less than that. Planet Fitness Franchise Cost & Fees | How To Open | Opportunities And Ms. Kaplan has over 20 years of experience, most recently serving as Global Marketing Operations Advisor for Advent International, a global private equity firm. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. Ad Royalty Fee: $300/mo. Many or all of the products featured here are from our partners who compensate us. industry. 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 Planet Fitness | Judgement Free Zone | Gym and Fitness Club Comment. Rated Excellent on TrustPilot with feedback from 50+ customers. Absentee Ownership Allowed, Planet Fitness Franchise Info: https://www.planetfitness.com. Planet Fitness Franchise Cost and Requirements for 2023 - IFPG The 2019 Planet Fitness Franchise Awards were given to the following: Hall of Fame: Jeff & James Innocenti - PF Supreme Franchisee of the Year: Mike Turner & CJ Bouchard - Excel Fitness Operator of the Year: Steve Kindler, Jr. - National Fitness Partners Developer of the Year: Tim Kelleher - Taymax Group 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 offers people the opportunity to be a part of the fitness business, but we do not believe this is sustainable. 9 Best Gym Franchises - NerdWallet 10 Qualities of Highly Successful Fitness Franchise Owners However, the profit varies on your location also. LearningRx Franchise Corporation 5085 List Drive, #200 Colorado Springs, CO 80919 Phone: (719) 264-8808 Liz Anderson . 1. Assistant Assigning Editor | Small-business finance, personal finance. Are fitness franchises profitable in 2022? - Glofox Find other similar franchises in our catalog! Both of these fitness companies, while they differ in business models, use your own fitness data and others to create a competitive atmosphere. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. FranchiseComplaints.org 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. Participants are given heart-rate monitors, and their results are displayed on screens throughout the room over the course of this hour-long, interval-based, coach-led workout. If a fitness business with a franchise sounds good, heres nine of the most promising options for a gym franchise. 3- Based on a midpoint investment of $3,273,300 with estimated profits of $831,881 at a 15% profit margin, it would take about 14 years to recoup your investment. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. Planet Fitness is a profitable business for the franchisor, with retained earnings of $210 million in 2021. Crunchs fees are on the lower end of the scale: Royalty fees are 5% of monthly gross sales, and advertising fees are 2% of monthly gross sales. The concept currently has over 1,000 franchises in the United States and another 150 international locations and is a subsidiary of Ultimate Fitness Holdings. | United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see the mustache commercial? All initial fees are the same for both initial and conversion franchises. 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. in Management Information Systems from Northwood University. Estimated total initial investment: $198,650 to $446,250. The franchise has since modernized their routines and worked Pilates, yoga, hip hop, kickboxing, and strength training into their classes, which they claim can burn up to 800 calories in one hour. We also suggest that you speak to 3 5 Planet Fitness owners before opening one yourself. 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. Our partners compensate us. Ms. Gosselin was named a Top Woman in PR by PR News in 2020. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. 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. You are going to upgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. 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.

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