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. Here is a list of our partners and here's how we make money. Planet Fitness franchise is one of the largest fitness US chains by a number of members and locations. Prior to Jiffy Lube, he served on Shells global Downstream Acquisitions & Divestments Leadership Team with responsibility for transaction delivery across North and South America. Justin Vartanian serves as General Counsel and SVP, International Division overseeing all legal matters and international development. Disclaimer: NerdWallet strives to keep its information accurate and up to date. Bill Bode serves as Division President, U.S. "[22], As early as March 2015, the "Judgement Free Zone" policy was expanded to allow trans women to use the women's locker room. Planet Fitness franchise opportunities are proven by 1,500 clubs successfully operating worldwide. Theyll provide you with a personal support team, comprehensive training, and marketing support over the course of your franchise agreements six-year term (or 10, if youre in California). Initial franchise terms are 10 years. [54][55] Also in 2016, the company donated more than $1 million to the program. 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. Investing in an Orange Theory franchise is an interesting opportunity, especially for individuals looking to make their way into the Fitness industry. We now have: 2,400+ locations open (and we're just getting started!) We provide estimated franchise costs for some countries: 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. Assistant Assigning Editor | Small-business finance, personal finance. He has covered financial topics as an editor for more than a decade. Planet Fitness Franchise (Costs + Fees + FDD) | Franchise Direct Even though its smaller than Pure Barre. 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). Although gym franchises require that the owner has previous management experience, most dont require experience in the. Our opinions are our own. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. Franchising | Planet Fitness Even if your network of Planet Fitness franchises earns above $% a million, you will not be able to recover costs just by selling it. Initial franchise fee: $30,000 to $50,000, Estimated total initial investment: $100,000 to $2 million. Orange Theorys success is quite similar to Pelotons rise to fame. locations around the U.S. as well as Canada and the Dominican Republic. Gym franchises dont get much more classic than Jazzercise, the high-intensity, dance-cardio fusion class that became a fitness mainstay during the 80s exercise boom. Planet Fitness franchise was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. [28] It ranked in the top 50 of Entrepreneur magazine's Franchise 500 in 2017. Fitness franchises are currently booming with the largest franchises globally being Anytime Fitness and Planet Fitness. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. Order now to get instant access to the complete Planet Fitness franchise owners. Follow along as PF Trainer Teddy teaches you the basics of fitness, right in the comfort of your own home. Sherrill Kaplan joined Planet Fitness in June 2021 as Chief Digital Officer. The highest Planet Fitness franchise made over 3 million dollars in revenue, whereas the lowest earning one made $165,000. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. [56][57][58] Planet Fitness has also provided mini "Judgement Free Zone" gyms to Boys & Girls Clubs in Manchester, New Hampshire[59] and Pasadena, California. Call (888) 977-4374. [24] Michael Grondahl, co-founder of Planet Fitness stepped down as CEO, and was succeeded by Chris Rondeau. We got you! You have to pay this upfront fee when opening a Planet Fitness franchise. Over the last three years, franchises have opened at a rate of 148 units a year. 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. We also suggest that you speak to 3 5 Planet Fitness owners before opening one yourself. Classroom Training: 80 hours 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. Planet Fitness has more members and locations than any other fitness brand. Ms. Kaplan has over 20 years of experience, most recently serving as Global Marketing Operations Advisor for Advent International, a global private equity firm. 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. Prior to Planet Fitness, Ms. Gosselin worked at Dunkin Brands on the global public relations team. 1. Planet Fitness Franchise Owners Contact List $ 149 Verified List of Planet Fitness Owners Contact Data We offer the most complete and most accurate mailing/telemarketing list for Planet Fitness franchise owners. Mind that the franchise requirements for sale could be different depending on the format and scope of business. [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. 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. Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing gym franchises in the United States. 1),[16] and in its 2016 ranking of franchises, Forbes magazine ranked Planet Fitness No. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. [7] They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. [47] The contestants on the show worked out on Planet Fitness equipment and then at Planet Fitness gyms near their homes, working with Planet Fitness instructors. On this Wikipedia the language links are at the top of the page across from the article title. Our partners cannot pay us to guarantee favorable reviews of their products or services. 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 Franchise Owners Contact List [48], Since December 2014, Planet Fitness has been the official fitness sponsor of Dick Clark's New Year's Rockin' Eve on ABC. The Planet Fitness franchise was founded in 1992 and has been franchising since 2003. This, too, is best evaluated with the help of an accountant or business lawyer, who can help you break down the fine print. The fitness center industry is mainly divided into two groups, either a specialized fitness boutique or a full-scale gym with multiple amenities and services. The total investment to open a Planet Fitness gym ranges from $728,290 - $3,777,800. Total Investment $728,290 - $3,777,800. 4. In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. Previously, he was the Chief Technology Officer at Airline Report Corporation, where he modernized the technology needed to process billions of dollars in payments annually. However, this ultra-famous franchise is the most expensive on this list, with an estimated upfront investment potentially reaching over $5 million. Even though its smaller than Pure Barre, The Bar Method franchise is growing quickly: In 2018, The Bar Method saw a 118% growth rate. . Pre-qualified offers are not binding. This covers the cost of being able to use their name and logo. Prior to joining Dunkin' Brands, he was a Dunkin' Donuts franchisee in Richmond, VA. Tom Fitzgerald joined Planet Fitness in 2020 as the Companys Chief Financial Officer. 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. Net Worth Requirement: $3,000,000 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. Prior to Sonus, he worked for more than 10 years in public accounting with both Deloitte and Touche and Arthur Andersen. Our research and analytics team analyzed over 120 franchise concept investment breakdowns in order to calculate this figure. 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. 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. 3- Based on a midpoint investment of $3,273,300 with estimated profits of $831,881 at a 15% profit margin, it would take about 14 years to recoup your investment. 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? Initial franchise fee: $54,950 to $59,950, Estimated total initial investment: $563,529 to $999,121. 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. 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. Planet Fitness Franchise Cost & Fees | How To Open | Opportunities And That said, as of June 2022, Planet Fitness has paused offering franchises. Franchise fee: one-time $10,000 for a 10-year renewable agreement. Estimated annual transaction costs per location range from $9,000- $72,000, Equal to 50% of our then-current initial franchise fee. To be eligible to open a Crunch Fitness franchise, candidates must have at least $1 million in net worth and access to $300,000 to $400,000 in liquid assets. Absentee Ownership Allowed, Planet Fitness Franchise Info: https://www.planetfitness.com. has opened over 4,000 locations on all seven continents. Owning a. means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. You have to pay this upfront fee when opening a Planet Fitness franchise. [13] The new model was an effort to provide a fitness hub for everyday people. Franchise Description: Planet Fitness Franchising LLC is the franchisor.The ultimate parent company is Planet Fitness, Inc. 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. 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. 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. Prior to joining Planet Fitness, Mr. 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. McCall Gosselin joined Planet Fitness in January 2013 and currently serves as SVP of Communications and Corporate Social Responsibility. The initial Planet Fitness Franchise Fee is $20,000. Planet Fitness Franchise Cost & Opportunities 2023 | Franchise Help Planet Fitness ( PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. Thanks to that near-legendary status in the fitness world, and their loyal customers, Jazzercise has over 8,900 franchises across the country. "[20] In 2003, Planet Fitness opened its first franchised location in Florida, with Eric Dore and Shane McGuiness. Currently, Golds Gym franchise has available markets in almost every state across the country, and select international opportunities. JLM Financial Partners, Austin, Texas, and Eagle Merchant Partners, Atlanta . The second Toronto location opened in early 2015. service, Computer System. 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. Burn Boot Camp 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. To open a gym, a franchisee must have of $3 million with $1,500,000 in liquid assets. 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. Rated Excellent on TrustPilot with feedback from 50+ customers. An offshoot of the (purportedly) $7 billion UFC brand, UFC Gyms offer MMA-inspired personal and specialized training, traditional and fusion martial arts classes, and youth fitness classes. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. Paid by you to advertisers or Planet Fitness if it elects to collect from you. - In Canadian currency, the investment comes around Can$ 1,231,300 to Can$ 5,387,800. Planet Fitness Franchise | Cost, Fees & Earning Stats (2023) has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. All told, their gyms boast over 14 million members worldwide. [35], The net worth requirement for a Planet Fitness franchise is $3,000,000, while the liquid cash requirement is $1,500,000. Prior to that, he served as the Director and General Manager of internet startup Kozmo, where he was responsible for new market development and operations. SVP Communications and Corporate Social Responsibility, General Counsel and SVP, International Division. Liquid Cash Requirement: $1,500,000. 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. Year Business Began: 1992. [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. Prior to that he served as the Chief Operating Officer since 2003. If you can name a franchise business, it's probably on our Franchise owners marketing list. 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. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. They provide an affordable, high-quality fitness experience in a welcoming environment. Founded in 1992 in Dover, N.H., Planet Fitness is now the fastest-growing full size health club franchise in the United States, and has revolutionized the industry with a combination of extremely . The Planet Fitness franchise sets itself apart from other gyms by being the "Judgement Free Zone" where everyone can feel comfo. So long as you are not decided on the fitness industry, we recommend you have a look at other offerings. This is significantly lower than the midpoint investment of $3,273,500. Mr. Fitzgerald began his career at PepsiCo, where he held various leadership roles in finance and planning. 4 Liberty Ln. Initial investments: $969,600 - $4,242,500 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). [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. 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. Prior to joining the Company, Mr. ODonnell most recently served as Vice President of Finance and Chief Accounting Officer at Sonus Networks. 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. Verizon Wireless, and Westin, just to name a very few. There are very few reasons why one might want to open a Planet Fitness franchise. [39][29][40], In December 2014, Planet Fitness opened its first international location in Toronto, Ontario, Canada. Due Date: Expended according to Planet Fitness Methods of Operations as per your advertising budget. The Best Fitness Franchises You Can Buy - Trafft 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. Greater of $60,000 or 7% of the total gross monthly membership fees payable to you via EFT in a quarter, and the greatest of $5,000 or 3% of the total gross monthly membership fees payable to you via EFT in a month. Mr. ODonnell has nearly 20 years of experience in a variety of finance and accounting roles. 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. Call (888) . Corporate Governance - Management Team - Planet Fitness 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. Please renew to keep using our services. Mr. Fitzgerald holds an MBA in Finance from Indiana University Kelley School of Business and received his Bachelors degree in Finance from the University of Florida. Pure to Joseph Pilates' original Reformer-based Contrology Method, but modernized with group read more. To open a gym, a franchisee must have a net worth of $3 million with a minimum of $1,500,000 in liquid assets. Paul Barber joined Planet Fitness in October 2022 as the Companys Chief Information Officer. Franchising Since: 2000. 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. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. 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. This is a good indication of high growth as a company overall. New franchise owners can also expect to participate in a comprehensive training program, as the franchise requires their franchisees to be certified barre instructors. At that time, Michael Grondahl stepped down as CEO and Chris Rondeau took his place and has held the position since. 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. She received her Bachelors degree from Eastern Connecticut State University. Prior to joining Planet Fitness, Ms. Simmons worked in Finance and Business Planning roles for Timberland, PepsiCo, and Fisher Scientific International. Ms. Gentilozzi is a certified Senior Professional in Human Resources (SPHR). Planet Fitness Gym - Franchise Solutions [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. Headquarters: Hampton, New Hampshire. By becoming a franchise owner, you can benefit from a proven business model, existing customer base, and franchisee support system. Planet Fitness Independent Franchisee Council Join Us Today! Franchise Owners Contact Lists - FranchiseComplaints.org 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. Lets get started. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see. Looks like your subscription is due. 1,600+ locations open and we're just getting started! Paid Grace Period. Planet Fitness Franchise Costs, Fees, Revenues, Profits (2022 Review) She is based in Santa Monica, California. 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. The total investment ranges from $728,290 to $3,777,800. [19] According to a Planet Money episode from 2014, "half of the Planet Fitness members don't ever go to their gyms. Former Gov. Their website reads, We are not currently accepting new franchisee applications for US expansion.. . 10 Qualities of Highly Successful Fitness Franchise Owners is growing quickly: In 2018, The Bar Method saw a 118% growth rate. We reviewed the larger franchise industry as well as selling price multiples for larger systems where more transaction data is available. 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 . 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. 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. 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 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. Your experience may vary depending on whether you finance tenant improvements, your location, and other factors. 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
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