has over 8,900 franchises across the country. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. You must be logged in to view this form. 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. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. 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. 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. You must maintain the franchise premises according to Planet Fitness brand standards. We believe everyone should be able to make financial decisions with confidence. locations around the U.S. as well as Canada and the Dominican Republic. Today, there are Planet Fitness franchise locations around the U.S. as well as Canada and the Dominican Republic. The Planet Fitness initial franchise fee is $20,000. 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. Kick off your search with this list of nine of the most promising gym franchises to buy. In this role, he leads all aspects of our U.S. Pure to Joseph Pilates' original Reformer-based Contrology Method, but modernized with group read more. 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. If you are thinking about how to open a Planet Fitness franchise, begin with a franchise investment information. The highest Planet Fitness franchise made over 3 million dollars in revenue, whereas the lowest earning one made $165,000. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. Brian ODonnell joined Planet Fitness in February 2016 and currently serves as VP, Chief Accounting Officer. Liquid Cash Requirement: $1,500,000. He began working at Shell in 2001, holding broad and diverse roles including strategy, business development, project management, and deal delivery. * The data above, compiled from the Planet Fitness FDD (Franchise Disclosure Document) 2020, represent the estimated financial range for the initial setting up and first 6 months of operation for a new Planet Fitness gym. [48], Since December 2014, Planet Fitness has been the official fitness sponsor of Dick Clark's New Year's Rockin' Eve on ABC. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. 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. 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? [44][37] In 2016, over 90% of Planet Fitness locations were opened by existing franchise owners. This routine is an 18-minute HIIT workout that targets cardio and endurance. We started our business in 1992 and refined our brand for a decade or so before franchising in 2003. Their website reads, We are not currently accepting new franchisee applications for US expansion.. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. You have to pay this upfront fee when opening a Planet Fitness franchise. Initial term lengths last 10 years. 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. Orangetheory Fitness provides a totally unique (and seriously hard) group workout experience. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. 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. Therefore, this may include substantial remodeling of your premises as frequently as every 5 years. [32][33], Planet Fitness started franchising units in 2003. The initial Planet Fitness Franchise Fee is $20,000. They provide an affordable, high-quality fitness experience in a welcoming environment. 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. 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. Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing gym franchises in the United States. All reactions: 8. The following costs are part of the upfront costs included in the initial investment for Planet Fitness locations. Club Pilates North Shore is a boutique Pilates studio specializing in reformer fusion classes for anyone, at any age or fitness level. [19] According to a Planet Money episode from 2014, "half of the Planet Fitness members don't ever go to their gyms. 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. She also served as Senior Vice President of Human Resources at Macys Inc., and has held various leadership positions at The May Department Store Company, including corporate and division roles. McCall Gosselin joined Planet Fitness in January 2013 and currently serves as SVP of Communications and Corporate Social Responsibility. Franchising Since: 2000. 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. 1,600+ locations open and we're just getting started! The Area Development Fee is in addition to the then-current Initial Franchise Fee due for each location at the time the Franchise Agreement for that location is executed. Over the last three years, the company has been expanding. [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. Your actual costs may be higher or lower depending on the size of your Planet Fitness business, the volume, and usage of your members, or changes in the market. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. However, this does not influence our evaluations. Additional Training: Ongoing training All financial products, shopping products and services are presented without warranty. That said, as of June 2022, Planet Fitness has paused offering franchises. Here is a list of our partners and here's how we make money. Order now to get instant access to the complete Planet Fitness franchise owners. 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. Estimated Number of Units: 2,300. 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. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. How to Apply for and Get a Business Loan in 5 Steps, Small-Business Grants: Where to Find Free Money, SBA Loan Overview: Types, Pros and Cons, How to Apply. New franchise owners can also expect to participate in a comprehensive training program, as the franchise requires their franchisees to be certified barre instructors. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. This investment is much higher than the industry standard of $253,000. We now have: 2,400+ locations open (and we're just getting started!) Initial franchise terms are 10 years. Thanks to that near-legendary status in the fitness world, and their loyal customers. 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. Currently, Golds Gym franchise has available markets in almost every state across the country, and select international opportunities. 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. [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. According to their website, Pure Barre is the oldest and most established barre studio out there. 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. Prior to joining Planet Fitness, Mr. in Management Information Systems from Northwood University. [5] It markets itself as a "Judgement Free Zone" that caters to novice and casual gym users, and has faced both praise and criticism for its atmosphere. Prior to Potbelly, he served in varying executive roles at Charming Charlie Inc. including President and Chief Financial Officer, and Chief Administrative Officer. This large discrepancy indicates the potential different costs you could face when building your Orange Theory franchise as a franchisee. Our opinions are our own. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. 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. Youre about to cancel your subscription. 6.4 miles away from Planet Fitness. Burn Boot Camp This article originally appeared on JustBusiness, a subsidiary of NerdWallet. Franchising began one year later, and today Orange Theory studios can be found in 18 countries, and across 49 states. List to Contact Planet Fitness Franchise Owners - Planet Fitness Owners Contact List. 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. Ms. Gentilozzi has more than 30 years of Human Resources leadership experience at national retail brands, most recently serving as Executive Vice President of Human Resources at FULLBEAUTY Brands where she led all HR initiatives to support 2,000 associates. - In Saudi Arabia currency, the investment comes around SR 3,64 million to SR 15,91 million. The estimated total investment necessary to begin the operation of an Orange Theory Franchise ranges from $657,542 to $2,105,322. 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. 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. 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. Sorry. 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. Overall, Planet Fitness is making a decent amount of profit, and we also see that the profit chart . Franchise Sales Manager Planet Fitness 4 Liberty Lane West Hampton, NH 03842 Phone: (603) 750-0001 Planet Fitness Independent Franchisee Council Join Us Today! This could be an indicator that franchisees are doing really well. Owning a UFC Gym means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. [16] Planet Fitness became known as the "Judgement Free Zone", aimed more at the average user than the bodybuilder type of fitness enthusiast. From the start, Planet Fitnesswas an inclusive, non-intimidating gym and in 1997, Planet Fitness officially unveiled its Judgement Free Zone philosophy. The most popular workout model from Snap Fitness is known as MYFIT. [54][55] Also in 2016, the company donated more than $1 million to the program. Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. If a fitness business with a franchise sounds good, heres nine of the most promising options for a gym franchise. However, this ultra-famous franchise is the most expensive on this list, with an estimated upfront investment potentially reaching over $5 million. Edward Hymes joined Planet Fitness in January 2023 as President and Chief Operating Officer. Mind that the franchise requirements for sale could be different depending on the format and scope of business. [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. industry. Your actual costs may be higher or lower depending on the size and location of your Planet Fitness business. He held multiple store operations positions with P&L responsibility progressing from Store Manager to Regional Manager. 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. | United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. The fitness center industry has grown with the rise in disposable income and demand for a more health-conscious lifestyle among millennials. 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. Its also a good idea to reach out to at least a few former Planet Fitness franchisees to find out why they left or were terminated from the franchise system. Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. [39][29][40], In December 2014, Planet Fitness opened its first international location in Toronto, Ontario, Canada. 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 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. 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. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see the mustache commercial? [11][12] Berks had been catering to the bodybuilding culture in his Gold's Gym. Before joining NerdWallet, he served as senior editorial manager of QuinStreet's insurance sites and managing editor of Insure.com. Absentee Ownership Allowed, Planet Fitness Franchise Info: https://www.planetfitness.com. 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. For example, this includes replacing your cardio equipment every 5 years and replacing your non-cardio equipment every 7 years. Of the total gross monthly and annual membership fees payable to you via EFT Dues Draft. process lies in obtaining a current list of Planet Fitness franchise owners. 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. Over the last three years, franchises have opened at a rate of 148 units a year. Follow along as PF Trainer Teddy teaches you the basics of fitness, right in the comfort of your own home. Owning a fitness franchise is a fantastic way to enter into the multi-billion dollar fitness industry. Your experience may vary depending on whether you finance tenant improvements, your location, and other factors. [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. The Judgement Free Zone was started to help first-time gym users feel more comfortable starting their fitness journey. 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. [18] This low-cost business model focuses on the needs of occasional or first-time health club members, rather than more experienced members,[6] and depends on many members rarely showing up. Planet Fitness ( PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. As can be seen, Planet Fitness stock has outpaced the S&P 500 by almost 2x. Before the pandemic, it was growing at a rate of approximately 200 units a year, which is impressive. 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. Ad Royalty Fee: $300/mo. 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. 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. There are both advantages and disadvantages of franchising, so make sure you weigh both sides thoroughly. Prior to joining Planet Fitness, Ms. Simmons worked in Finance and Business Planning roles for Timberland, PepsiCo, and Fisher Scientific International. Initial franchise fee: $54,950 to $59,950, Estimated total initial investment: $563,529 to $999,121. The name came from his daughter's school project, "Fitness Planet". This model has become extremely sticky in the fitness industry because while many people want to achieve their fitness goals, they innately lack motivation. NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer Access|Licenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812, Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc. (CA resident license no. 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. The second Toronto location opened in early 2015. While at Dunkin Brands, he helped lead the technology team that rolled out mobile ordering across 9,000 locations. Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. This information may be different than what you see when you visit a financial institution, service provider or specific products site. 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. Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). Please scroll down for a partial list of franchise businesses. Although gym franchises require that the owner has previous management experience, most dont require experience in the fitness industry. You are going to downgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. Except for signage, Planet Fitness will not require substantial remodeling more often than every 5 years during the term of the Franchise Agreement. 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 Grondahls changed the gyms name to Planet Fitness in 1994. . [6], In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. The chain has over a thousand locations with over 400 units outside the US. Prospective owners are asked to have a minimum net worth of $3 million and a minimum of $1,500,000 in liquid capital. The estimated total investment necessary to begin the operation of a Planet Fitness Franchise ranges from $1,625,600 $4,921,000. - In Philippine currency, the investment comes around Php 47,15 million to Php 206,34 million. [61], In January 2020, Planet Fitness partnered with The Biggest Loser to be the official sponsor of the show's 2020 reboot.[62]. Annually Updated with New Owners of Planet Fitness Locations in the USA. 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. [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. 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. service, Computer System. Planet Fitness competes in the Fitness market against big brand companies such as Orange Theory and Golds Gym. 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. She has also held editing roles at LearnVest, a personal finance startup, and its parent company, Northwestern Mutual.

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