Over the last three years, franchises have opened at a rate of 148 units a year. Owner WIRED Telcom 159 W 1st Street Oswego, NY 13126 Phone: (315) 326-3350 . An individual planet fitness franchise owner can make around $513,00 to $5,554,000 annually. This information may be different than what you see when you visit a financial institution, service provider or specific products site. ", "Planet Fitness revokes woman's membership after transgender complaint", "Planet Fitness Has New Investor; Promotes Rondeau To CEO", "Former Radio Shack CFO Fills Planet Fitness Hole", "Planet Fitness goes public, hits mark in first day of trading", "Ranking America's Best And Worst Franchises: Which Are The Best Investments? In addition, he served as an online media manager for the University of Nevada, Reno. Today the brand has over 2,000 locations system-wide. Golds Gym also requires that potential franchisees have a minimum of $1 million in net worth and $400,000 in liquid assets. 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. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105. Estimated total initial investment: $58,870 to $521,437. 1. - In Saudi Arabia currency, the investment comes around SR 3,64 million to SR 15,91 million. And with an incredibly low initial franchise fee and upfront investment, Jazzercise is one of the best low-cost franchises youll find, especially within the health and fitness industry. Although gym franchises require that the owner has previous management experience, most dont require experience in the. Orange Theory was ranked 49th in the franchise 500 rankings according to entrepreneur.com. NerdWallet strives to keep its information accurate and up to date. Across 50 states the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia 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. 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. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. [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. "[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. $10,000, plus our reasonable out-of-pocket expenses, including external legal and administrative costs we incur in connection with the transfer. They opened a new gym called Coastal Fitness and the Grondahls hired current CEO. After a few years of growth, Planet Fitness started franchising in 2003 with the first franchised gym opened in Florida. Since their start in 2002, Anytime Fitness has opened over 4,000 locations on all seven continents. The owner of the franchise (the franchisee) is expected to be involved in all aspects of day-to-day operations. Estimated Number of Units: 2,300. With this purchase, which was for an undisclosed amount, United PF's club count has . 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. We provide estimated franchise costs for some countries: 4. Before joining NerdWallet, he served as senior editorial manager of QuinStreet's insurance sites and managing editor of Insure.com. The Grondahls changed the gyms name to Planet Fitness in 1994. - In currency of the United Kingdom, the investment comes around 694,900 to 3,040,600. Our partners cannot pay us to guarantee favorable reviews of their products or services. The estimated total investment necessary to begin the operation of a Planet Fitness Franchise ranges from $1,625,600 $4,921,000. Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). 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. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. 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. West Hampton, NH 03842, USA, Interested? 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. [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. has opened over 4,000 locations on all seven continents. The U.S. has the biggest Fitness market in the world, both in terms of revenue and in the number of members enrolled in a fitness facility. Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. Like. The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. From there, youll receive additional materials to help inform your decision, including the all-important franchise agreement, including the franchise disclosure document (FDD). Even after the pandemic hit, it continued to grow at a rate of over 100 units. - In Indian currency, the investment comes around Rs 7,14 crores to Rs 31,23 crores. Headquarters: Hampton, New Hampshire. 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. 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. [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. 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. Burn Boot Camp All told, their gyms boast over 14 million members worldwide. Get in touch with Planet Fitness Owners from around the US with verified contact data for all owners of all Planet Fitness locations. It is important to talk to other franchisees and see what their costs were for leasehold improvements and construction. 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. Initial term lengths last 10 years. 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. Initial investments: $969,600 - $4,242,500 Net Worth Requirement: $3,000,000 Liquid Cash Requirement: $1,500,000 Estimated Initial Investment Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. 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. - In Philippine currency, the investment comes around Php 47,15 million to Php 206,34 million. 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. [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. 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. . 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. 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. Former Gov. Franchise Description: Planet Fitness Franchising LLC is the franchisor.The ultimate parent company is Planet Fitness, Inc. All financial products, shopping products and services are presented without warranty. [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. 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. [34] The royalty fee for a Planet Fitness is 7% of the total gross monthly and annual membership fees. 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. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. Planet Fitness franchise is one of the largest fitness US chains by a number of members and locations. We also suggest that you speak to 3 5 Planet Fitness owners before opening one yourself. Pre-qualified offers are not binding. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. Planet Fitness businesses are fitness training facilities offering exercise machines and free weights, fitness training services, tanning services . Ms. Kaplan holds a B.S. 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 Planet Fitness ( PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. The Judgement Free Zone was started to help first-time gym users feel more comfortable starting their fitness journey. [7] They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. Mr. ODonnell has nearly 20 years of experience in a variety of finance and accounting roles. You must be logged in to view this form. We now have: 2,400+ locations open (and we're just getting started!) 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. 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). from Boston University and an M.B.A. from the University of Denver, Daniels College of Business. Planet Fitness (PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. Even though its smaller than Pure Barre. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. All financial products, shopping products and services are presented without warranty. Prior to Planet Fitness, Ms. Gosselin worked at Dunkin Brands on the global public relations team. United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. 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 . LearningRx Franchise Corporation 5085 List Drive, #200 Colorado Springs, CO 80919 Phone: (719) 264-8808 Liz Anderson . "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 more franchises you own, the more earning potential you have as private equity firms become interested in your business instead of individual owner-operators. 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. Airfare, ground transportation, meals, lodging, Government agencies and bonding companies, Payroll, debt services, ongoing pre-sale/grand opening marketing, and cash to cover miscellaneous day-to-day expenses, Estimated Selling Price = Net Sales * 0.67, Estimated Selling Price = Net Sales * 1.21. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. Robert Beaupre leads the SMB team at NerdWallet. The estimated total investment necessary to begin the operation of an Orange Theory Franchise ranges from $657,542 to $2,105,322. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. Initial franchise fee: $32,000 to $40,000, Estimated total initial investment: $2.2 million to $5 million. 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. In this role, he is responsible for all aspects of financial strategy and management. New franchise owners can also expect to participate in a comprehensive training program, as the franchise requires their franchisees to be certified barre instructors. We were opening our 5th store then. 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. You'll build confidence while increasing your fitness knowledge. ASK QUESTIONS ABOUT THE FRANCHISE, Distributorship Opportunities For Business, the terms of "[21] Planet Fitness has been criticized for prohibiting certain weightlifting exercisessuch as deadlifts and clean-and-jerksthat many experts believe are highly effective. [47], In March 2013, Planet Fitness partnered with 50 Cent to sell his energy drink "Street King". This is a good indication of high growth as a company overall. Ad Royalty Fee: $300/mo. 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. In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. Mr. Fitzgerald began his career at PepsiCo, where he held various leadership roles in finance and planning. The total investment to open a Planet Fitness gym ranges from $728,290 - $3,777,800. Franchise candidates can expect to pay anywhere between $354k to $1.2m. Initial franchise fee: $54,950 to $59,950, Estimated total initial investment: $563,529 to $999,121. has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. That said, all of the gym franchises on this list (and those that arent on this list) allow curious investors to request more information for free. Call (888) . 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 Paul Barber joined Planet Fitness in October 2022 as the Companys Chief Information Officer. The Initial Franchise Fee is uniform and non-refundable. Franchising began one year later, and today Orange Theory studios can be found in 18 countries, and across 49 states. 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. 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. 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. [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. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. 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. 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. If you can name a franchise business, it's probably on our Franchise owners marketing list. The chain has over a thousand locations with over 400 units outside the US. To open a gym, a franchisee must have a net worth of $3 million with a minimum of $1,500,000 in liquid assets. 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. Fitness centers have experienced sustained growth since the post-economic crisis in 2009. In other words, franchising takes most of the heavy lifting off your shoulders. 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. In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. In fact, in a recent Inc. 5000 list of the 10 fastest growing franchises, four were fitness franchises. At the moment we can not connect you to the representative of this franchise. Orange Theory uses your heart rate to show your exertion potential compared to the maximal effort and compares you to your peers in classes. While at Dunkin Brands, he helped lead the technology team that rolled out mobile ordering across 9,000 locations. 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. Initial Franchise Fee: $20,000 [13] The new model was an effort to provide a fitness hub for everyday people. This covers the cost of being able to use their name and logo. The initial Planet Fitness Franchise Fee is $20,000. Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. 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. 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. 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. You must maintain the franchise premises according to Planet Fitness brand standards. Our opinions are our own. Orange Theorys success is quite similar to Pelotons rise to fame. 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. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. The franchise requires that candidates have access to over $90,000 in liquid capital, and a minimum net worth of $300,000. [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. Compared to $145 million in 2020, they saw an increase of 44% from 2020 to 2021. Planet Fitness is a profitable business for the franchisor, with retained earnings of $210 million in 2021. Annually Updated with New Owners of Planet Fitness Locations in the USA. 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. The following costs are part of the upfront costs included in the initial investment for Planet Fitness locations. You must maintain your equipment according to Planet Fitness brand standards. The policy states that "members and guests may use all gym facilities based on their sincere self-reported gender identity. Ongoing Royalty Fee: $449 - $549/mo. You may need additional operating capital, or you may need it for a longer period of time. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. Even if your network of Planet Fitness franchises earns above $% a million, you will not be able to recover costs just by selling it. 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. Find Accurate Contact Data for Fitness Franchise Owners. There are some units of Planet fitness franchisees making more than that or some making less than that. Prior to that, Ms. Gentilozzi served as Senior Vice President of Human Resources at Aropostale, supporting over 25,000 employees in 1,000 retail locations throughout the U.S., Canada, and Puerto Rico. 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. The Planet Fitness franchise was founded in 1992 and has been franchising since 2003. 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. To open a gym, a franchisee must have of $3 million with $1,500,000 in liquid assets. 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. These figures are estimates based on Planet Fitness and its affiliates experience in operating locations. 1,600+ locations open and we're just getting started! Planet Fitness franchise is growing, and it is growing fast. Although gym franchises require that the owner has previous management experience, most dont require experience in the fitness industry. With that in mind, Planet Fitness franchisees will need to pay for that international brand recognitionopening a Planet Fitness franchise may cost over $4 million. All initial fees are the same for both initial and conversion franchises. Here is a list of our partners and here's how we make money. 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. 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. 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. Ms. Kaplan has over 20 years of experience, most recently serving as Global Marketing Operations Advisor for Advent International, a global private equity firm. Of the total gross monthly and annual membership fees payable to you via EFT Dues Draft. Prior to joining the Company, Mr. ODonnell most recently served as Vice President of Finance and Chief Accounting Officer at Sonus Networks. So how do we make money? There are very few reasons why one might want to open a Planet Fitness franchise. This large discrepancy indicates the potential different costs you could face when building your Orange Theory franchise as a franchisee. Prior to Sonus, he worked for more than 10 years in public accounting with both Deloitte and Touche and Arthur Andersen. According to their website, Pure Barre is the oldest and most established barre studio out there. That said, Orangetheory is designed for people of all fitness levels, since participants can go entirely at their own pace. Planet Fitness Independent Franchisee Council Join Us Today! Sorry. [22] In 2010, Men's Health magazine called Planet Fitness "the worst gym in America.