Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. "[23], In the fall of 2013, TSG Consumer Partners LLC became an equity partner in the Planet Fitness franchise. Therefore, this may include substantial remodeling of your premises as frequently as every 5 years. Mr. Barber holds a B.S. The difficult part of this step of the franchise buying due diligence process lies in obtaining a current list of Planet Fitness franchise owners. Subscribe to our newsletters and keep up-to-date with the latest news in the franchise industry. Liquid Cash Requirement: $1,500,000. List to Contact Planet Fitness Franchise Owners - Planet Fitness Owners Contact List. Orange Theory uses your heart rate to show your exertion potential compared to the maximal effort and compares you to your peers in classes. 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. Mr. Fitzgerald began his career at PepsiCo, where he held various leadership roles in finance and planning. Planet Fitness franchise was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. But perhaps most important to this process is interviewing current franchisees. [41][42] In October 2015 the company opened their second international location in Santo Domingo, Dominican Republic. Royalty fees and advertising fees are generally calculated as a percentage of gross sales in franchise agreements, but Anytime Fitness rates are flat from month to month, which makes it easier for you to plan and organize your expenses. Benson, who co-founded the former Cabletron Systems, once the . 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. 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. - In the United States, the total investment to start the Planet Fitness gym is around $969,600 to $4,242,500. Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing gym franchises in the United States. - In Malaysian currency, the investment comes around MYR 3,93 million to MYR 17,21 million. Here is a list of our partners. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. Planet Fitness Initial franchise fee: $20,000 Estimated total initial investment: $1 million to $4.1 million Planet Fitness trademarked the phrase "judgment free zone," so that alone. Although gym franchises require that the owner has previous management experience, most dont require experience in the. Your experience may vary depending on whether you finance tenant improvements, your location, and other factors. 2% of the total gross monthly EFT Dues Draft. Currently, the Planet Fitness franchise has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. 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. Share. When evaluating offers, please review the financial institutions Terms and Conditions. Planet Fitness franchise opportunities are proven by 1,500 clubs successfully operating worldwide. Annually Updated with New Owners of Planet Fitness Locations in the USA. "[20] In 2003, Planet Fitness opened its first franchised location in Florida, with Eric Dore and Shane McGuiness. With that said, a Planet Fitness franchise . Across 50 states the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia 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. 1 comment. . The total investment ranges from $728,290 to $3,777,800. Call (888) . There are tons of gym franchises seeking new location owners, but this list represents nine of the most promising gym franchises on the market right nowbased mainly on name recognition, growth rate, and franchisor support system. Join now to become a registered PFIFC member and gain access to a wealth of information that will help you succeed as a Planet Fitness owner. 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 . [24] Michael Grondahl, co-founder of Planet Fitness stepped down as CEO, and was succeeded by Chris Rondeau. He joined the Company as General Counsel in 2014 and played a critical role in the Companys initial public offering in August of 2015, and has since overseen all public company, corporate governance and franchising matters as a key member of the companys leadership team. [17] They also dramatically reduced prices to compete against better-known brands. 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 Area Development Fee is uniform and non-refundable. We believe that this franchise is an option for those that are passionate about fitness and are willing to put in the hours to make the business run smoothly. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. 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. This, too, is best evaluated with the help of an accountant or business lawyer, who can help you break down the fine print. Pure to Joseph Pilates' original Reformer-based Contrology Method, but modernized with group read more. Currently, the. You must maintain your equipment according to Planet Fitness brand standards. Prior to joining the Company, Mr. ODonnell most recently served as Vice President of Finance and Chief Accounting Officer at Sonus Networks. Cash Required $1,500,000. 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. Thanks to that near-legendary status in the fitness world, and their loyal customers. Even more reason to consider investing in a gym franchise? Of the total gross monthly and annual membership fees payable to you via EFT Dues Draft. was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. Mind that the franchise requirements for sale could be different depending on the format and scope of business. Today the brand has over 2,000 locations system-wide. 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. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. [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. 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. 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. locations around the U.S. as well as Canada and the Dominican Republic. At that time, Michael Grondahl stepped down as CEO and Chris Rondeau took his place and has held the position since. 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 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. 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. Planet Fitness offers people the opportunity to be a part of the fitness business, but we do not believe this is sustainable. Planet Fitness franchise is growing, and it is growing fast. [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. You are going to downgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. 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. We reviewed the larger franchise industry as well as selling price multiples for larger systems where more transaction data is available. is growing quickly: In 2018, The Bar Method saw a 118% growth rate. 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. in Management Information Systems from Northwood University. In this role, she oversees general HR operations, talent acquisition, leadership development, business partner support, culture and employee engagement, benefits and compensation. The Fitness Center industry has over 111,000 businesses with a market size of $34 billion, and it supports over 800,000 jobs. 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 Paid Grace Period. There are some units of Planet fitness franchisees making more than that or some making less than that. [29], In 2020, the company received criticism for charging its customers for March dues "despite closing its facilities nationwide due to the novel coronavirus pandemic. According to their website, Pure Barre is the oldest and most established barre studio out there. has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. [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. Their website reads, We are not currently accepting new franchisee applications for US expansion.. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Initial franchise fee: $30,000 to $50,000, Estimated total initial investment: $100,000 to $2 million. 6.4 miles away from Planet Fitness. 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. 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. Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. McCall Gosselin joined Planet Fitness in January 2013 and currently serves as SVP of Communications and Corporate Social Responsibility. 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. 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. In addition, he served as an online media manager for the University of Nevada, Reno. If a fitness business with a franchise sounds good, heres nine of the most promising options for a gym franchise. Planet Fitness franchise is one of the largest fitness US chains by a number of members and locations. 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. Pure Barre has over 500 open locations across North America with tons of available studio markets in the U.S. Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. Bode held several senior leadership positions at Dunkin' Brands, including serving as Regional Vice President of Dunkin' Donuts Northeast where he was responsible for overseeing the operations of more than 2,600 restaurants. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. However, this does not influence our evaluations. Since their start in 2002, Anytime Fitness has opened over 4,000 locations on all seven continents. 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. 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. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. 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. Then, the last four workouts in the program will take place in the gym and you'll learn how . All financial products, shopping products and services are presented without warranty. According to Franchise Direct, the initial franchise fee is $20,000, while the area development fee is $10,000. Pre-qualified offers are not binding. ASK QUESTIONS ABOUT THE FRANCHISE, Distributorship Opportunities For Business, the terms of Prior to Jiffy Lube, he served on Shells global Downstream Acquisitions & Divestments Leadership Team with responsibility for transaction delivery across North and South America. This covers the cost of being able to use their name and logo. Prior to joining Planet Fitness, Mr. Vartanian was a corporate attorney at Devine Millimet. 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. At Yum! 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. Planet Fitness competes in the Fitness market against big brand companies such as Orange Theory and Golds Gym. Ms. Medeiros received her Bachelors degree from the University of New Hampshire. 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. Franchise Sales Manager Planet Fitness 4 Liberty Lane West Hampton, NH 03842 Phone: (603) 750-0001 This FREE 10-part progressive program will help you get movin'. 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. As can be seen, Planet Fitness stock has outpaced the S&P 500 by almost 2x. We also suggest that you speak to 3 5 Planet Fitness owners before opening one yourself. SVP Communications and Corporate Social Responsibility, General Counsel and SVP, International Division. Get in touch with Planet Fitness Owners from around the US with verified contact data for all owners of all Planet Fitness locations. 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. Do not sell or share my personal information. Owner WIRED Telcom 159 W 1st Street Oswego, NY 13126 Phone: (315) 326-3350 . Paul Barber joined Planet Fitness in October 2022 as the Companys Chief Information Officer. Initial Franchise Fee: $20,000 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. This metric is the standard industry investment amount for a single unit franchise investment in this industry. 4 Liberty Ln. In this role, he is responsible for all aspects of financial strategy and management.
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