Our opinions are our own. 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. 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. We offer detailed franchise research and contact data reports. You have to pay this upfront fee when opening a Planet Fitness franchise. 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. The second Toronto location opened in early 2015. However, the profit varies on your location also. Ms. Gosselin was named a Top Woman in PR by PR News in 2020. 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). They provide an affordable, high-quality fitness experience in a welcoming environment. Ongoing Royalty Fee: $449 - $549/mo. Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). Today the brand has over 2,000 locations system-wide. 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. Assistant Assigning Editor | Small-business finance, personal finance. [34] The royalty fee for a Planet Fitness is 7% of the total gross monthly and annual membership fees. has opened over 4,000 locations on all seven continents. 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. Co-founder, Elle Latham, decided to open a gym to implement her personally designed workout, which eventually became the basis for Orange Theorys system. After you cover your startup costs, your total gross monthly take could greatly exceed your expectations, depending on how many memberships you sell. 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. 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. As can be seen, Planet Fitness stock has outpaced the S&P 500 by almost 2x. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. 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. Initial franchise fee: $54,950 to $59,950, Estimated total initial investment: $563,529 to $999,121. 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. 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. Join PFIFC 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. For example, this includes replacing your cardio equipment every 5 years and replacing your non-cardio equipment every 7 years. Initial investments: $969,600 - $4,242,500 Net Worth Requirement: $3,000,000 Liquid Cash Requirement: $1,500,000 Estimated Initial Investment - In Philippine currency, the investment comes around Php 47,15 million to Php 206,34 million. in Management Information Systems from Northwood University. [39][29][40], In December 2014, Planet Fitness opened its first international location in Toronto, Ontario, Canada. Initial franchise fee: $30,000 to $50,000, Estimated total initial investment: $100,000 to $2 million. Justin Vartanian serves as General Counsel and SVP, International Division overseeing all legal matters and international development. You must maintain the franchise premises according to Planet Fitness brand standards. We got you! According to their website, Pure Barre is the oldest and most established barre studio out there. Lead Assigning Editor | Small business finances, investing, banking. in Pilates. 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. 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. [46], Planet Fitness reported that it has around 2,400 gyms worldwide with a total membership of 17 million, generating an annual revenue of $936.8 million at the end of 2022. 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. "[20] In 2003, Planet Fitness opened its first franchised location in Florida, with Eric Dore and Shane McGuiness. 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. Pre-qualified offers are not binding. We offer the most complete and most accurate mailing/telemarketing list for Planet Fitness franchise owners. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. Find Accurate Contact Data for 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. Annually Updated with New Owners of Planet Fitness Locations in the USA. Of the total gross monthly and annual membership fees payable to you via EFT Dues Draft. has over 8,900 franchises across the country. Kick off your search with this list of nine of the most promising gym franchises to buy. 1 comment. Although gym franchises require that the owner has previous management experience, most dont require experience in the. This information may be different than what you see when you visit a financial institution, service provider or specific products site. - In Malaysian currency, the investment comes around MYR 3,93 million to MYR 17,21 million. Orange Theory was ranked 49th in the franchise 500 rankings according to entrepreneur.com. Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. We were opening our 5th store then. The difficult part of this step of the franchise buying due diligence process lies in obtaining a current list of Planet Fitness franchise owners. He held multiple store operations positions with P&L responsibility progressing from Store Manager to Regional Manager. Follow along as PF Trainer Teddy teaches you the basics of fitness, right in the comfort of your own home. 8. 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. Absentee Ownership Allowed, Planet Fitness Franchise Info: https://www.planetfitness.com. Your experience may vary depending on whether you finance tenant improvements, your location, and other factors. While at Dunkin Brands, he helped lead the technology team that rolled out mobile ordering across 9,000 locations. To be eligible to open a. , candidates must have at least $1 million in net worth and access to $300,000 to $400,000 in liquid assets. Prior to joining Planet Fitness, Mr. Vartanian was a corporate attorney at Devine Millimet. [6], In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. Estimated total initial investment: $58,870 to $521,437. [27], In February 2016, the franchise was added to the Franchise Times' "Fast and Serious" list of top franchises (No. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing gym franchises in the United States. The estimated total investment necessary to begin the operation of an Orange Theory Franchise ranges from $657,542 to $2,105,322. If you own and operate multiple Planet Fitness businesses in the same market area and LAF spending for them is combined. Franchise Sales Manager Planet Fitness 4 Liberty Lane West Hampton, NH 03842 Phone: (603) 750-0001 ? The policy states that "members and guests may use all gym facilities based on their sincere self-reported gender identity. Planet Fitness's franchise fee is $10,000 for a 10-year renewable agreement, though the total investment ranges from $700,000 to $3.8 Million. The most popular workout model from Snap Fitness is known as MYFIT. Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. 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). [48], Since December 2014, Planet Fitness has been the official fitness sponsor of Dick Clark's New Year's Rockin' Eve on ABC. Ultimately, the only way to know which gym franchise is right for you is to do your own due diligence. [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. Mr. ODonnell holds a CPA and received his Bachelors degree in Accounting from Assumption College in Massachusetts. 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. Our research and analytics team analyzed over 120 franchise concept investment breakdowns in order to calculate this figure. Ms. Kaplan has over 20 years of experience, most recently serving as Global Marketing Operations Advisor for Advent International, a global private equity firm. Call (888) 977-4374. 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. 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 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. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. Ms. Kaplan holds a B.S. Planet Fitness franchisees also compete against other smaller gym and fitness business locations. 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. At Yum! [36], The company reports that as of 2019, there are 80 corporate-owned gyms, the rest independently owned and operated. Here is a list of our partners and here's how we make money. 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. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. Franchise Description: Planet Fitness Franchising LLC is the franchisor.The ultimate parent company is Planet Fitness, Inc. This large discrepancy indicates the potential different costs you could face when building your Orange Theory franchise as a franchisee. 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. Overall, Planet Fitness is making a decent amount of profit, and we also see that the profit chart . Owning a fitness franchise is a fantastic way to enter into the multi-billion dollar fitness industry. Here is a list of our partners. Brian ODonnell joined Planet Fitness in February 2016 and currently serves as VP, Chief Accounting Officer. Even more reason to consider investing in a gym franchise? Mr. Fitzgerald began his career at PepsiCo, where he held various leadership roles in finance and planning. Today, there are Planet Fitness franchise locations around the U.S. as well as Canada and the Dominican Republic. Estimated Number of Units: 2,300. 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. Even if your network of Planet Fitness franchises earns above $% a million, you will not be able to recover costs just by selling it. The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. The Judgement Free Zone was started to help first-time gym users feel more comfortable starting their fitness journey. In this role, he is responsible for all aspects of financial strategy and management. 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. Franchise Division including leading the operations, development and construction, vendor management and local marketing execution teams. The Planet Fitness initial franchise fee is $20,000. 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. Disclaimer: NerdWallet strives to keep its information accurate and up to date. 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 . 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. [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. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. 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 Cash Required $1,500,000. Prior to joining Planet Fitness, Mr. 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. The Planet Fitness franchise was founded in 1992 and has been franchising since 2003. Compared to $145 million in 2020, they saw an increase of 44% from 2020 to 2021. They opened a new gym called Coastal Fitness and the Grondahls hired current CEO. Their website reads, We are not currently accepting new franchisee applications for US expansion.. locations around the U.S. as well as Canada and the Dominican Republic. Comment. The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. Pure to Joseph Pilates' original Reformer-based Contrology Method, but modernized with group read more. Year Business Began: 1992. Our partners cannot pay us to guarantee favorable reviews of their products or services. Throughout her tenure, she has held roles of increasing responsibility, with her most recent position being Vice President of National Marketing. Sherrill Kaplan joined Planet Fitness in June 2021 as Chief Digital Officer. 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. 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. 6.4 miles away from Planet Fitness. On this Wikipedia the language links are at the top of the page across from the article title. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. 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. Ms. Medeiros has been instrumental in developing and refining Planet Fitness marketing strategy and differentiated Judgement Free positioning in the fitness industry. 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. [7] They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. You'll also benefit from . Mind that the franchise requirements for sale could be different depending on the format and scope of business. [10][7], Berks had started his own Planet Fitness gym in 1993 in Sunrise, Florida, and eventually expanded it to three clubs, along with a Gold's Gym franchise. | United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. In this role, he will lead the Companys technology evolution and strategy, focused on delivering technology solutions that will continue to enhance the member experience while optimizing infrastructure, data and operations for flexibility and scale. Estimated total initial investment: $303,000 to $499,850. You are going to downgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. In this role, she oversees general HR operations, talent acquisition, leadership development, business partner support, culture and employee engagement, benefits and compensation. [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. [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. Prospective owners are asked to have a minimum net worth of $3 million and a minimum of $1,500,000 in liquid capital. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. All financial products, shopping products and services are presented without warranty. 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. Owner WIRED Telcom 159 W 1st Street Oswego, NY 13126 Phone: (315) 326-3350 . [8][9][7] In 2002, they purchased the rights to the name Planet Fitness from Rick Berks and renamed their franchise. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. 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. Throughout the years, Chris played a critical role in developing and refining the unique, low-cost/high-value business model and lean operating system that revolutionized both the fitness and franchising industry. Pure Barre has over 500 open locations across North America with tons of available studio markets in the U.S. New franchise owners can also expect to participate in a comprehensive training program, as the franchise requires their franchisees to be certified barre instructors. 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. 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. That said, as of June 2022, Planet Fitness has paused offering franchises. Orangetheory Fitness provides a totally unique (and seriously hard) group workout experience. This document includes information about the franchises financial standing, capital requirements, franchisee training, and ongoing franchise fees, among other crucial information. It offers classes for dance, aqua, cycle, box, pilates, and many more. This is a good indication of high growth as a company overall. The franchise requires that candidates have access to over $90,000 in liquid capital, and a minimum net worth of $300,000. 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.
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planet fitness franchise owners list