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. He began working at Shell in 2001, holding broad and diverse roles including strategy, business development, project management, and deal delivery. [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. Ms. Kaplan has over 20 years of experience, most recently serving as Global Marketing Operations Advisor for Advent International, a global private equity firm. Planet Fitness growth continued over the next decade and in 2013, TSG Consumer Partners, LLC became an equity partner in the Planet Fitness franchise. Previously, she served as Head of Marketing and Sales for Zipcar, the worlds leading car-sharing network, where she was a key member of the executive leadership team responsible for demand and revenue generation and all marketing functions. 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. 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. 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. 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. They opened a new gym called Coastal Fitness and the Grondahls hired current CEO Chris Rondeau, who was still in college at the time, to run the gyms front desk. Of the total gross monthly and annual membership fees payable to you via EFT Dues Draft. Bode was also responsible for U.S brand compliance and business development along with leadership positions overseeing training, store development, marketing, and franchising. 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. We believe everyone should be able to make financial decisions with confidence. We also suggest that you speak to 3 5 Planet Fitness owners before opening one yourself. 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. Kick off your search with this list of nine of the most promising gym franchises to buy. Planet Fitness offers people the opportunity to be a part of the fitness business, but we do not believe this is sustainable. The following costs are part of the upfront costs included in the initial investment for Planet Fitness locations. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. Orange Theory Franchise was founded in Boca Raton, Florida in 2009. 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. Even more reason to consider investing in a gym franchise? 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 Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. Mr. Fitzgerald began his career at PepsiCo, where he held various leadership roles in finance and planning. Due Date: Paid monthly and annually. Currently, Golds Gym franchise has available markets in almost every state across the country, and select international opportunities. Initial franchise fee: $30,000 to $50,000, Estimated total initial investment: $100,000 to $2 million. This is significantly lower than the midpoint investment of $3,273,500. 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. When evaluating offers, please review the financial institutions Terms and Conditions. As can be seen, Planet Fitness stock has outpaced the S&P 500 by almost 2x. 2% of the total gross monthly EFT Dues Draft. Fitness franchises are currently booming with the largest franchises globally being Anytime Fitness and Planet Fitness. [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. Mr. ODonnell has nearly 20 years of experience in a variety of finance and accounting roles. Initial investments: $969,600 - $4,242,500 Net Worth Requirement: $3,000,000 Liquid Cash Requirement: $1,500,000 Estimated Initial Investment Former Gov. 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 offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. [31], While Planet Fitness closed many facilities during the onset of the COVID pandemic, during the Delta and Omicron variants there was not a decrease in gym attendance. This influences which products we write about and where and how the product appears on a page. 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. Paid Grace Period. Join PFIFC All initial fees are the same for both initial and conversion franchises. LearningRx Franchise Corporation 5085 List Drive, #200 Colorado Springs, CO 80919 Phone: (719) 264-8808 Liz Anderson . [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. 4 Liberty Ln. These figures are estimates based on Planet Fitness and its affiliates experience in operating locations. Rated Excellent on TrustPilot with feedback from 50+ customers. The concept currently has over 1,000 franchises in the United States and another 150 international locations and is a subsidiary of Ultimate Fitness Holdings. The 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. Franchise candidates can expect to pay anywhere between $354k to $1.2m. Although gym franchises require that the owner has previous management experience, most dont require experience in the fitness industry. 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. - In the United States, the total investment to start the Planet Fitness gym is around $969,600 to $4,242,500. - In currency of Germany, the investment comes around EUR 805,430 to EUR 3,524,180. They provide an affordable, high-quality fitness experience in a welcoming environment. Headquarters: Hampton, New Hampshire. 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. Wed recommend meeting with your bank or accountant to help you determine which franchise is financially doable for you right now. You must maintain your equipment according to Planet Fitness brand standards. So long as you are not decided on the fitness industry, we recommend you have a look at other offerings. SVP Communications and Corporate Social Responsibility, General Counsel and SVP, International Division. [39][29][40], In December 2014, Planet Fitness opened its first international location in Toronto, Ontario, Canada. Currently, the. FranchiseComplaints.org As a result, she has played an instrumental role in the major strategic decisions made by the Company. You are going to upgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. It offers classes for dance, aqua, cycle, box, pilates, and many more. 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. in Pilates. Lets get started. Your experience may vary depending on whether you finance tenant improvements, your location, and other factors. Ms. Gosselin was named a Top Woman in PR by PR News in 2020. Throughout his tenure at Dunkin Brands, Mr. [16] Planet Fitness became known as the "Judgement Free Zone", aimed more at the average user than the bodybuilder type of fitness enthusiast. Estimated total initial investment: $198,650 to $446,250. 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. [27], In February 2016, the franchise was added to the Franchise Times' "Fast and Serious" list of top franchises (No. Comment. 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. 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. service, Computer System. Franchise Division including leading the operations, development and construction, vendor management and local marketing execution teams. Ad Royalty Fee: $300/mo. 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). 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. process lies in obtaining a current list of Planet Fitness franchise owners. 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. Ongoing Royalty Fee: $449 - $549/mo. To open a gym, a franchisee must have a net worth of $3 million with a minimum of $1,500,000 in liquid assets. But perhaps most important to this process is interviewing current franchisees. Now, We Own 22 Locations", "What your new gym doesn't want you to know", "Planet Fitness vs. the lunkheads: Why is a health club trying to alienate people who love to work out? Prior to joining Planet Fitness, Ms. Simmons worked in Finance and Business Planning roles for Timberland, PepsiCo, and Fisher Scientific International. Their website reads, We are not currently accepting new franchisee applications for US expansion.. Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). 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. Planet Fitness franchise was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. 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. It is reported to be the nations fastest growing fitness center franchise. Initial term lengths last 10 years. This article originally appeared on JustBusiness, a subsidiary of NerdWallet. 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. Prior to Jiffy Lube, he served on Shells global Downstream Acquisitions & Divestments Leadership Team with responsibility for transaction delivery across North and South America. She has also held editing roles at LearnVest, a personal finance startup, and its parent company, Northwestern Mutual. Verizon Wireless, and Westin, just to name a very few. This is a good indication of high growth as a company overall. Many or all of the products featured here are from our partners who compensate us. West Hampton, NH 03842, USA, Interested? Sherrill Kaplan joined Planet Fitness in June 2021 as Chief Digital Officer. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see the mustache commercial? [13] The new model was an effort to provide a fitness hub for everyday people. You will pay a lump-sum nonrefundable Initial Franchise Fee in the amount of $20,000 when you sign the Franchise Agreement. - In Saudi Arabia currency, the investment comes around SR 3,64 million to SR 15,91 million. Overall, Planet Fitness is making a decent amount of profit, and we also see that the profit chart . Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. There are some units of Planet fitness franchisees making more than that or some making less than that. 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. That said, Orangetheory is designed for people of all fitness levels, since participants can go entirely at their own pace. HAMPTON, N.H., Jan. 11, 2022 - Planet Fitness, Inc. (NYSE: PLNT ), one of the largest and fastest-growing franchisors and operators of fitness centers with more members than any other fitness brand, announced today it has signed a definitive agreement to acquire Sunshine Fitness Growth Holdings, LLC ("Sunshine Fitness"), a leading owner and So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. Prior to Potbelly, he served in varying executive roles at Charming Charlie Inc. including President and Chief Financial Officer, and Chief Administrative Officer. 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. Even though its smaller than Pure Barre, The Bar Method franchise is growing quickly: In 2018, The Bar Method saw a 118% growth rate. 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. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. 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. Have questions? 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. This metric is the standard industry investment amount for a single unit franchise investment in this industry. Therefore, this may include substantial remodeling of your premises as frequently as every 5 years. Throughout her tenure, she has held roles of increasing responsibility, with her most recent position being Vice President of National Marketing. has over 8,900 franchises across the country. [32][33], Planet Fitness started franchising units in 2003. Year Business Began: 1992. has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. 1- Based on a midpoint investment of $3,273,300 with estimated profits of $77,293 at a 5% profit margin it would take about 42 years to recoup your investment. 4. If a fitness business with a franchise sounds good, heres nine of the most promising options for a gym franchise. Previously, she was an editor at Fundera, where she developed service-driven content on topics such as business lending, software and insurance. 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. You must be logged in to view this form. Franchising began one year later, and today Orange Theory studios can be found in 18 countries, and across 49 states. Benson, who co-founded the former Cabletron Systems, once the . Estimated Number of Units: 2,300. Please renew to keep using our services. Now, youd be hard-pressed to find a gym franchise that doesnt offer some form of barre class, but owning a. takes you straight to the source. McCall Gosselin joined Planet Fitness in January 2013 and currently serves as SVP of Communications and Corporate Social Responsibility. There are both advantages and disadvantages of franchising, so make sure you weigh both sides thoroughly. This FREE 10-part progressive program will help you get movin'. The difficult part of this step of the franchise buying due diligence process lies in obtaining a current list of Planet Fitness franchise owners. Order now to get instant access to the complete Planet Fitness franchise owners. Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. 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. The total investment ranges from $728,290 to $3,777,800. Call (888) . [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. was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. 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. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. 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. This document includes information about the franchises financial standing, capital requirements, franchisee training, and ongoing franchise fees, among other crucial information. [14] Berks later went on to open the first Youfit Health Club in St. Petersburg, Florida. Kathy Gentilozzi joined Planet Fitness in 2019 as the Companys Chief People Officer. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. She received her Bachelors degree in Public Communications from American University in Washington, DC, and served on the Board of Directors for the Boys & Girls Clubs of Manchester, NH. [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. Golds Gym also requires that potential franchisees have a minimum of $1 million in net worth and $400,000 in liquid assets. Planet Fitness (PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. An individual planet fitness franchise owner can make around $513,00 to $5,554,000 annually. Pure Barre has over 500 open locations across North America with tons of available studio markets in the U.S. Here is a list of our partners. Mind that the franchise requirements for sale could be different depending on the format and scope of business. Co-founder, Elle Latham, decided to open a gym to implement her personally designed workout, which eventually became the basis for Orange Theorys system. Brian ODonnell joined Planet Fitness in February 2016 and currently serves as VP, Chief Accounting Officer. In this role, she oversees general HR operations, talent acquisition, leadership development, business partner support, culture and employee engagement, benefits and compensation. "I decided I didn't want to deal with that crowd, so that's when I opened the original Planet Fitness club in Sunrise, Florida, in 1993." The total investment to open a Planet Fitness gym ranges from $728,290 - $3,777,800. Pre-qualified offers are not binding. In addition, he served as an online media manager for the University of Nevada, Reno. Thanks to that near-legendary status in the fitness world, and their loyal customers, Jazzercise has over 8,900 franchises across the country. Orange Theory was ranked 49th in the franchise 500 rankings according to entrepreneur.com. 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. Liquid Cash Requirement: $1,500,000. Our partners cannot pay us to guarantee favorable reviews of their products or services. While at Dunkin Brands, he helped lead the technology team that rolled out mobile ordering across 9,000 locations. They opened a new gym called Coastal Fitness and the Grondahls hired current CEO. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. With that said, a Planet Fitness franchise . 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. The Initial Franchise Fee is uniform and non-refundable. Ultimately, the only way to know which gym franchise is right for you is to do your own due diligence. After you cover your startup costs, your total gross monthly take could greatly exceed your expectations, depending on how many memberships you sell. 1),[16] and in its 2016 ranking of franchises, Forbes magazine ranked Planet Fitness No. 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. 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. Classroom Training: 80 hours 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. 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. By becoming a franchise owner, you can benefit from a proven business model, existing customer base, and franchisee support system. Paul Barber joined Planet Fitness in October 2022 as the Companys Chief Information Officer. Franchise fee: one-time $10,000 for a 10-year renewable agreement. Franchising Since: 2000. Initial franchise terms are 10 years. The initial Planet Fitness Franchise Fee is $20,000. 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. We offer the most complete and most accurate mailing/telemarketing list for Planet Fitness franchise owners. 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. Paid by you to advertisers or Planet Fitness if it elects to collect from you. Across 50 states the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. [54][55] Also in 2016, the company donated more than $1 million to the program. While this may be the business for you, make sure also to check out other companies offered on Vetted Biz and in the Fitness Industry. Prior to Planet Fitness, Ms. Gosselin worked at Dunkin Brands on the global public relations team. Initial franchise fee: $54,950 to $59,950, Estimated total initial investment: $563,529 to $999,121. 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.

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