Mr. Fitzgerald began his career at PepsiCo, where he held various leadership roles in finance and planning. This is a good indication of high growth as a company overall. in Pilates. Many of these are one-time fees that are needed to launch the franchise. 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. | United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. "[30] They stated that they were unable to stop the pre-scheduled payments on short notice, but would not charge future monthly dues until they reopen, and would also provide a credit for closed days previously paid for. 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. Then, the last four workouts in the program will take place in the gym and you'll learn how . Initial Franchise Fee: $20,000 This is significantly lower than the midpoint investment of $3,273,500. Ms. Gosselin was named a Top Woman in PR by PR News in 2020. Today the brand has over 2,000 locations system-wide. Disclaimer: NerdWallet strives to keep its information accurate and up to date. Training starts with one week at the companys San Francisco headquarters, followed up by three to six months of training, led by a dedicated trainer, in your home location. 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. 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. - In the United States, the total investment to start the Planet Fitness gym is around $969,600 to $4,242,500. Prior to Potbelly, he served in varying executive roles at Charming Charlie Inc. including President and Chief Financial Officer, and Chief Administrative Officer. 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. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. Franchise Sales Manager Planet Fitness 4 Liberty Lane West Hampton, NH 03842 Phone: (603) 750-0001 Compared to $145 million in 2020, they saw an increase of 44% from 2020 to 2021. Planet Fitness (PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. Former Gov. Co-founder, Elle Latham, decided to open a gym to implement her personally designed workout, which eventually became the basis for Orange Theorys system. The Area Development Fee is uniform and non-refundable. JLM Financial Partners, Austin, Texas, and Eagle Merchant Partners, Atlanta . At Jiffy Lube, he oversaw the strategic direction of the company, and managed franchise relationships to create a shared vision for the brand, drive network growth, and maintain Jiffy Lubes leading market share. Prior to Jiffy Lube, he served on Shells global Downstream Acquisitions & Divestments Leadership Team with responsibility for transaction delivery across North and South America. "[20] In 2003, Planet Fitness opened its first franchised location in Florida, with Eric Dore and Shane McGuiness. Estimated total initial investment: $1 million to $4.1 million. You'll build confidence while increasing your fitness knowledge. Call (888) . 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. Estimated total initial investment: $198,650 to $446,250. Planet Fitness has more members and locations than any other fitness brand. [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. 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. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. The initial Planet Fitness Franchise Fee is $20,000. Paid by you to advertisers or Planet Fitness if it elects to collect from you. Estimated total initial investment: $303,000 to $499,850. Franchise fee: one-time $10,000 for a 10-year renewable agreement. 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. Headquarters: Hampton, New Hampshire. Initial franchise fee: $54,950 to $59,950, Estimated total initial investment: $563,529 to $999,121. Planet Fitness competes in the Fitness market against big brand companies such as Orange Theory and Golds Gym. Estimated total initial investment: $2,405 to $3,200. [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. Throughout her tenure with Planet Fitness, Ms. Simmons built the Business Strategy and Analytics functions from the ground up, leveraging data, analytics and insights to develop and drive Planet Fitness overarching corporate strategy, propel the business forward, and reinforce the brands industry leadership position. 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. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. Owning a. means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. At the moment we can not connect you to the representative of this franchise. 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. Estimated total initial investment: $58,870 to $521,437. Please confirm by clicking on the Cancel Subscriptionbutton below. 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. "[23], In the fall of 2013, TSG Consumer Partners LLC became an equity partner in the Planet Fitness franchise. This influences which products we write about and where and how the product appears on a page. Here is a list of our partners and here's how we make money. [27], In February 2016, the franchise was added to the Franchise Times' "Fast and Serious" list of top franchises (No. "[21] Planet Fitness has been criticized for prohibiting certain weightlifting exercisessuch as deadlifts and clean-and-jerksthat many experts believe are highly effective. West Hampton, NH 03842, USA, Interested? Robert Beaupre leads the SMB team at NerdWallet. Planet Fitness franchisees also compete against other smaller gym and fitness business locations. Paid Grace Period. Over the last three years, franchises have opened at a rate of 148 units a year. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. By contacting current franchise owners and asking about their experience with the franchised business, the earnings and/or success thus far, training and support from the franchisor, Pla-FitFranchise, and whether or not they would buy the franchise again if they could do it all over again, you can learn what its really like to own a Planet Fitness business before you actually purchase a franchise. In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. Lead Assigning Editor | Small business finances, investing, banking. 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. Many or all of the products featured here are from our partners who compensate us. [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. Find Accurate Contact Data for Fitness Franchise Owners. 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. [14] Berks later went on to open the first Youfit Health Club in St. Petersburg, Florida. Except for signage, Planet Fitness will not require substantial remodeling more often than every 5 years during the term of the Franchise Agreement. An individual planet fitness franchise owner can make around $513,00 to $5,554,000 annually. Initial term lengths last 10 years. 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. service, Computer System. 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. 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. Ad Royalty Fee: $300/mo. Today, there are Planet Fitness franchise locations around the U.S. as well as Canada and the Dominican Republic. You have to pay this upfront fee when opening a Planet Fitness franchise. 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 Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. [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 currency of the United Kingdom, the investment comes around 694,900 to 3,040,600. You are going to upgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. After you cover your startup costs, your total gross monthly take could greatly exceed your expectations, depending on how many memberships you sell. The graph includes a comparison against the Russell because there is no industry benchmark or line-of-business index for the fitness industry or a peer group that is publicly traded. Ms. Medeiros received her Bachelors degree from the University of New Hampshire. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. At Yum! 1),[16] and in its 2016 ranking of franchises, Forbes magazine ranked Planet Fitness No. The Planet Fitness initial franchise fee is $20,000. There are both advantages and disadvantages of franchising, so make sure you weigh both sides thoroughly. Prior to Dunkin, she worked at various communications agencies in both Boston and Washington, DC on behalf of various leading retail brands. An innovative entrepreneur, Mr. Rondeau was honored as an EY Entrepreneur of the Year and inducted into the UNH Alumni Entrepreneur Hall of Fame. The Grondahls changed the gyms name to Planet Fitness in 1994. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. You must pay a supplemental fee of $5,000, per location remaining to be developed, plus our reasonable out-of-pocket expenses, including external legal and administrative costs we incur in connection with the transfer. This FREE 10-part progressive program will help you get movin'. 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. For example, this includes replacing your cardio equipment every 5 years and replacing your non-cardio equipment every 7 years. 1,600+ locations open and we're just getting started! Bringing Franchise Owners Together to Share and Grow. Verizon Wireless, and Westin, just to name a very few. Crunch isnt quite as widespread as Planet Fitnesscurrently, they have 300+ open locations in 29 states and five countriesbut with plans to open an additional 1,000+ locations, theyre growing quickly. Reaching out to multi-unit franchise owners and regional developers gives you the ability to get your products and services into many locations with just one sale . 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. 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. The franchise requires that candidates have access to over $90,000 in liquid capital, and a minimum net worth of $300,000. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. 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). If you acquire rights under our Area Development program, you will pay an Area Development Fee equal to $10,000 per location to be developed under the Area Development Agreement when you sign the Area Development Agreement. Planet Fitness estimates the costs to upgrade and/or remodel your facility will range from $70,000 to $600,000 every 5 years. [28] It ranked in the top 50 of Entrepreneur magazine's Franchise 500 in 2017. [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. Comment. 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. [6], In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. 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. $10,000, plus our reasonable out-of-pocket expenses, including external legal and administrative costs we incur in connection with the transfer. 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. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. 2% of the total gross monthly EFT Dues Draft. All told, their gyms boast over 14 million members worldwide. 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 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. Please scroll down for a partial list of franchise businesses. . 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. Net Worth Requirement: $3,000,000 Orange Theorys success is quite similar to Pelotons rise to fame. Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. 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. To open a gym, a franchisee must have of $3 million with $1,500,000 in liquid assets. From the start, Planet Fitnesswas an inclusive, non-intimidating gym and in 1997, Planet Fitness officially unveiled its Judgement Free Zone philosophy. "[22], As early as March 2015, the "Judgement Free Zone" policy was expanded to allow trans women to use the women's locker room. 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. Annually Updated with New Owners of Planet Fitness Locations in the USA. 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. Prospective owners are asked to have a minimum net worth of $3 million and a minimum of $1,500,000 in liquid capital. After a few years of growth, Planet Fitness started franchising in 2003 with the first franchised gym opened in Florida. Before the pandemic, it was growing at a rate of approximately 200 units a year, which is impressive. The chain has over a thousand locations with over 400 units outside the US. 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. 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. [49] [50], Since 2015, Planet Fitness has been a personal sponsor of NASCAR driver and champion Joey Logano. Our partners compensate us. [21] Some bodybuilders and weight lifters have found the way they're portrayed in Planet Fitness TV commercials to be offensive, and the way they're treated in Planet Fitness gyms to be "quite possibly discriminatory. [22] In 2010, Men's Health magazine called Planet Fitness "the worst gym in America. 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. Currently, Golds Gym franchise has available markets in almost every state across the country, and select international opportunities. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. 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. The gym utilizes a "lunk alarm", which is a loud siren and rotating light that is used when a gymgoer grunts too loudly or drops weights. 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. Owning a fitness franchise is a fantastic way to enter into the multi-billion dollar fitness industry. Theyll provide you with a personal support team, comprehensive training, and marketing support over the course of your franchise agreements six-year term (or 10, if youre in California). 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. - In currency of Germany, the investment comes around EUR 805,430 to EUR 3,524,180. Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. 4. Before joining NerdWallet, he served as senior editorial manager of QuinStreet's insurance sites and managing editor of Insure.com. 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. Your actual costs may be higher or lower depending on the size of your Planet Fitness business, the volume, and usage of your members, or changes in the market. However, this ultra-famous franchise is the most expensive on this list, with an estimated upfront investment potentially reaching over $5 million. Craig Benson has rejoined the board of directors of Planet Fitness, a national gym chain based in Hampton in which he is a substantial franchisee and which uses software from a company that Benson partly owns, according to a Securities and Exchange Commission filing. The total investment to open a Planet Fitness gym ranges from $728,290 - $3,777,800. He began working at Shell in 2001, holding broad and diverse roles including strategy, business development, project management, and deal delivery. Prior to Sonus, he worked for more than 10 years in public accounting with both Deloitte and Touche and Arthur Andersen. Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing gym franchises in the United States. Their website reads, We are not currently accepting new franchisee applications for US expansion.. Orange Theory Franchise was founded in Boca Raton, Florida in 2009. [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. We also suggest that you speak to 3 5 Planet Fitness owners before opening one yourself. Ms. Kaplan has over 20 years of experience, most recently serving as Global Marketing Operations Advisor for Advent International, a global private equity firm. 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. In this role, he oversees the Companys accounting and treasury functions. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. 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 has the franchise fee of up to $20,000, with total initial investment from $969,600. Your actual costs may be higher or lower depending on the size and location of your Planet Fitness business. Therefore, this may include substantial remodeling of your premises as frequently as every 5 years. The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. Even more reason to consider investing in a gym franchise? The estimated total investment necessary to begin the operation of an Orange Theory Franchise ranges from $657,542 to $2,105,322. [17] They also dramatically reduced prices to compete against better-known brands. Pre-qualified offers are not binding. 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. Mr. ODonnell holds a CPA and received his Bachelors degree in Accounting from Assumption College in Massachusetts. 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. 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. 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. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. That said, Orangetheory is designed for people of all fitness levels, since participants can go entirely at their own pace. Rated Excellent on TrustPilot with feedback from 50+ customers. He held multiple store operations positions with P&L responsibility progressing from Store Manager to Regional Manager. Building in competition to workouts enhances ones motivation and keeps consumers coming back. 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. Cash Required $1,500,000. [25][26] The company went public on August 6, 2015. NerdWallet strives to keep its information accurate and up to date. Browse 1000s of reports on 1000s of franchise systems. 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. [41][42] In October 2015 the company opened their second international location in Santo Domingo, Dominican Republic. 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. This, too, is best evaluated with the help of an accountant or business lawyer, who can help you break down the fine print. 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. The Initial Franchise Fee is uniform and non-refundable. 1 comment. These numbers indicate that potential earnings can vary significantly, and it depends on factors such as locations and how well the business is run. [39][29][40], In December 2014, Planet Fitness opened its first international location in Toronto, Ontario, Canada. industry. Sorry. Justin Vartanian serves as General Counsel and SVP, International Division overseeing all legal matters and international development. 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. She received her Bachelors degree from Eastern Connecticut State University. Total Investment $728,290 - $3,777,800. [51] In April 2022, Planet Fitness appeared as a sponsor on a race truck for the first time in the 2022 Pinty's Truck Race on Dirt with Logano driving the truck. - In Philippine currency, the investment comes around Php 47,15 million to Php 206,34 million. SVP Communications and Corporate Social Responsibility, General Counsel and SVP, International Division. Orangetheory Fitness provides a totally unique (and seriously hard) group workout experience.
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