You are going to downgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. 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. 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. 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. New franchise owners can also expect to participate in a comprehensive training program, as the franchise requires their franchisees to be certified barre instructors. Estimated total initial investment: $1 million to $4.1 million. Mr. Barber holds a B.S. We got you! [13] The new model was an effort to provide a fitness hub for everyday people. This, too, is best evaluated with the help of an accountant or business lawyer, who can help you break down the fine print. While at Dunkin Brands, he helped lead the technology team that rolled out mobile ordering across 9,000 locations. 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 Depending on the location and pre-existing structure that is being purchased, you could see your expenditure being on the lower or higher end of this spectrum. Prior to joining Planet Fitness, Mr. Vartanian was a corporate attorney at Devine Millimet. was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. [27], In February 2016, the franchise was added to the Franchise Times' "Fast and Serious" list of top franchises (No. 1. 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. 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. "[21] Planet Fitness has been criticized for prohibiting certain weightlifting exercisessuch as deadlifts and clean-and-jerksthat many experts believe are highly effective. service, Computer System. 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. Planet Fitness franchise is one of the largest fitness US chains by a number of members and locations. The following costs are part of the upfront costs included in the initial investment for Planet Fitness locations. Prior to Potbelly, he served in varying executive roles at Charming Charlie Inc. including President and Chief Financial Officer, and Chief Administrative Officer. [47], In March 2013, Planet Fitness partnered with 50 Cent to sell his energy drink "Street King". Pre-qualified offers are not binding. Top Fitness Franchises to Check Out - Franchise How Browse 1000s of reports on 1000s of franchise systems. 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. We started our business in 1992 and refined our brand for a decade or so before franchising in 2003. $10,000, plus our reasonable out-of-pocket expenses, including external legal and administrative costs we incur in connection with the transfer. Today, there are Planet Fitness franchise locations around the U.S. as well as Canada and the Dominican Republic. As a franchise owner, youll benefit from a proven business model, brand recognition, existing customer base, vendor network, and robust franchisee support system. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see the mustache commercial? Initial franchise terms are 10 years. Our franchise contact lists contain contact details for both owners of single franchise units and multi-unit franchise owners, that is, franchisees that own many franchised locations. 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. However, this does not influence our evaluations. Prior to Dunkin, she worked at various communications agencies in both Boston and Washington, DC on behalf of various leading retail brands. -In thousands and rounded; represents electronic funds presented for draft for the 12 months of calendar year 2019 and 2020, respectively. Owning a UFC Gym means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. We were opening our 5th store then. The Judgement Free Zone was started to help first-time gym users feel more comfortable starting their fitness journey. If a fitness business with a franchise sounds good, heres nine of the most promising options for a gym franchise. Prior to Planet Fitness, Ms. Gosselin worked at Dunkin Brands on the global public relations team. 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. 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. Performing this action will delete your account. They opened a new gym called Coastal Fitness and the Grondahls hired current CEO Chris Rondeau, who was still in college at the time, to run the gyms front desk. 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. Overall, Planet Fitness is making a decent amount of profit, and we also see that the profit chart . He began working at Shell in 2001, holding broad and diverse roles including strategy, business development, project management, and deal delivery. After you cover your startup costs, your total gross monthly take could greatly exceed your expectations, depending on how many memberships you sell. This information may be different than what you see when you visit a financial institution, service provider or specific products site. The estimated total investment necessary to begin the operation of a Planet Fitness Franchise ranges from $1,625,600 $4,921,000. 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. [7] They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. Planet Fitness businesses are fitness training facilities offering exercise machines and free weights, fitness training services, tanning services . 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. 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. After a few years of growth, Planet Fitness started franchising in 2003 with the first franchised gym opened in Florida. 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. 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. 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. West Hampton, NH 03842, USA, Interested? Throughout his tenure at Dunkin Brands, Mr. 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. McCall Gosselin joined Planet Fitness in January 2013 and currently serves as SVP of Communications and Corporate Social Responsibility. 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. 1 comment. In addition, he served as an online media manager for the University of Nevada, Reno. 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. Planet Fitness Announces 2019 Franchise Awards 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. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. Order now to get instant access to the complete Planet Fitness franchise owners. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. This FREE 10-part progressive program will help you get movin'. 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. The estimated total investment necessary to begin the operation of an Orange Theory Franchise ranges from $657,542 to $2,105,322. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. Largest Planet Fitness Franchisee Acquires 19 Planet Fitness Clubs in Planet Fitness estimates the costs to upgrade and/or remodel your facility will range from $70,000 to $600,000 every 5 years. Prospective owners are asked to have a minimum net worth of $3 million and a minimum of $1,500,000 in liquid capital. [28] It ranked in the top 50 of Entrepreneur magazine's Franchise 500 in 2017. You'll build confidence while increasing your fitness knowledge. ? Total Investment $728,290 - $3,777,800. [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. SVP Communications and Corporate Social Responsibility, General Counsel and SVP, International Division. To open a gym, a franchisee must have of $3 million with $1,500,000 in liquid assets. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. Previously, Mr. Fitzgerald served as Chief Administrative Officer of Sears Canada. Orange Theory is currently headquartered in Boca Raton, FL, and is run by its CEO Dave Long who previously served as the main developer and owner of the European Wax Center. FranchiseComplaints.org Initial term lengths last 10 years. 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. Verizon Wireless, and Westin, just to name a very few. 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. 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. Mr. Hymes started his career at Kmart Corporation, where he worked his way up the ranks starting as an hourly store team member and entered management after graduating with a Marketing degree from Northwest Missouri State University. Estimated total initial investment: $303,000 to $499,850. 2% of the total gross monthly EFT Dues Draft. 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. Currently, Golds Gym franchise has available markets in almost every state across the country, and select international opportunities. The difficult part of this step of the franchise buying due diligence process lies in obtaining a current list of Planet Fitness franchise owners. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. This investment is much higher than the industry standard of $253,000. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. The second Toronto location opened in early 2015. [39][29][40], In December 2014, Planet Fitness opened its first international location in Toronto, Ontario, Canada. Liquid Cash Requirement: $1,500,000. Benson, who co-founded the former Cabletron Systems, once the . 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. Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105. She is based in Santa Monica, California. Planet Fitness Independent Franchisee Council Join Us Today! Mr. ODonnell has nearly 20 years of experience in a variety of finance and accounting roles. List to Contact Planet Fitness Franchise Owners - Planet Fitness Owners Contact List. [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. 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. All reactions: 8. So long as you are not decided on the fitness industry, we recommend you have a look at other offerings. The total investment to open a Planet Fitness gym ranges from $728,290 - $3,777,800. "[23], In the fall of 2013, TSG Consumer Partners LLC became an equity partner in the Planet Fitness franchise. Of the total gross monthly and annual membership fees payable to you via EFT Dues Draft. Please scroll down for a partial list of franchise businesses. Due Date: Paid monthly and annually. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. The initial Planet Fitness Franchise Fee is $20,000. Your experience may vary depending on whether you finance tenant improvements, your location, and other factors. This document includes information about the franchises financial standing, capital requirements, franchisee training, and ongoing franchise fees, among other crucial information. Share. 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. 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. Orange Theory uses your heart rate to show your exertion potential compared to the maximal effort and compares you to your peers in classes. You have to pay this upfront fee when opening a Planet Fitness franchise. 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. Franchise. [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. Planet Fitness competes in the Fitness market against big brand companies such as Orange Theory and Golds Gym. Our research and analytics team analyzed over 120 franchise concept investment breakdowns in order to calculate this figure. Currently, the. Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing gym franchises in the United States. Bringing Franchise Owners Together to Share and Grow. industry. Since their start in 2002, Anytime Fitness has opened over 4,000 locations on all seven continents. has opened over 4,000 locations on all seven continents. Classroom Training: 80 hours Find Accurate Contact Data for Fitness Franchise Owners. 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. Previously, she was an editor at Fundera, where she developed service-driven content on topics such as business lending, software and insurance. Annually Updated with New Owners of Planet Fitness Locations in the USA. "[22], As early as March 2015, the "Judgement Free Zone" policy was expanded to allow trans women to use the women's locker room. With that said, a Planet Fitness franchise . 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. To open a gym, a franchisee must have a net worth of $3 million with a minimum of $1,500,000 in liquid assets. You may need additional operating capital, or you may need it for a longer period of time. 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. Estimated annual transaction costs per location range from $9,000- $72,000, Equal to 50% of our then-current initial franchise fee. 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. Fitness franchises are currently booming with the largest franchises globally being Anytime Fitness and Planet Fitness. From the start, Planet Fitnesswas an inclusive, non-intimidating gym and in 1997, Planet Fitness officially unveiled its Judgement Free Zone philosophy. The name came from his daughter's school project, "Fitness Planet". Except for signage, Planet Fitness will not require substantial remodeling more often than every 5 years during the term of the Franchise Agreement.
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