Prior to joining Planet Fitness, Mr. Vartanian was a corporate attorney at Devine Millimet. Mind that the franchise requirements for sale could be different depending on the format and scope of business. The franchise requires that candidates have access to over $90,000 in liquid capital, and a minimum net worth of $300,000. 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. [17], As part of their effort to create a non-intimidating environment, Planet Fitness has alienated many serious weight lifters. 1. [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. 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. Sorry. 1),[16] and in its 2016 ranking of franchises, Forbes magazine ranked Planet Fitness No. 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. "[30] They stated that they were unable to stop the pre-scheduled payments on short notice, but would not charge future monthly dues until they reopen, and would also provide a credit for closed days previously paid for. Franchising Since: 2000. The chain has over a thousand locations with over 400 units outside the US. Initial term lengths last 10 years. Initial franchise terms are 10 years. The Planet Fitness franchise was founded in 1992 and has been franchising since 2003. Prospective owners are asked to have a minimum net worth of $3 million and a minimum of $1,500,000 in liquid capital. Planet Fitness franchise was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. Then, you will be in compliance with the LAF requirement if you spend an amount that satisfies the LAF obligations for all the Planet Fitness businesses in the aggregate. [61], In January 2020, Planet Fitness partnered with The Biggest Loser to be the official sponsor of the show's 2020 reboot.[62]. If you own and operate multiple Planet Fitness businesses in the same market area and LAF spending for them is combined. ASK QUESTIONS ABOUT THE FRANCHISE, Distributorship Opportunities For Business, the terms of By becoming a franchise owner, you can benefit from a proven business model, existing customer base, and franchisee support system. Currently, Golds Gym franchise has available markets in almost every state across the country, and select international opportunities. We reviewed the larger franchise industry as well as selling price multiples for larger systems where more transaction data is available. Call (888) 977-4374. Prior to Sonus, he worked for more than 10 years in public accounting with both Deloitte and Touche and Arthur Andersen. Youre about to cancel your subscription. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see the mustache commercial? The biggest expenses in the additional costs section are leasehold improvements and construction costs which vary greatly from $1,250,000 to $2,163,000. All financial products, shopping products and services are presented without warranty. 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. That said, Orangetheory is designed for people of all fitness levels, since participants can go entirely at their own pace. [49] [50], Since 2015, Planet Fitness has been a personal sponsor of NASCAR driver and champion Joey Logano. 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. The highest Planet Fitness franchise made over 3 million dollars in revenue, whereas the lowest earning one made $165,000. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. 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. 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. 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 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. 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. Share. Mr. ODonnell holds a CPA and received his Bachelors degree in Accounting from Assumption College in Massachusetts. 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. ", "2017 Top Franchises from Entrepreneur's Franchise 500 List", "Planet Fitness members outraged over March bill amid coronavirus closures", "Planet Fitness CEO says gym visits are holding up against the omicron variant", "Planet Fitness Seeing Minimal Impact So Far From Omicron", "Planet Fitness Franchise (Costs + Fees + FDD)", "Planet Fitness Franchise Costs & Fees, Planet Fitness FDD & Franchise Information | FranchiseDirect.com", "Planet Fitness Franchise Cost & Fees | How To Open | Opportunities And Investment Information", "Planet Fitness Prices & Membership Cost", "17 January Gym Discounts That Are Too Cheap to Pass Up", "Planet Fitness is raising the price of its Black Card membership but still offers a $10 option", "American gym powerhouse chooses Brampton for first suburban Canadian location", "Cheap 'n' cheerful chinups: Canada welcomes Planet Fitness, the $10 gym for those bad at gym", "Planet Fitness Continues International Expansion in Dominican Republic", "Planet Fitness opens first Hawaii location at Ala Moana Center", "10 Million Reasons to Get Pumped About Planet Fitness", "Planet Fitness to Sponsor 'The Biggest Loser', "50 Cent and Joan Rivers Kick It At The Gym [PHOTOS]", "Planet Fitness To Launch New Global Campaign On New Year's Eve", "Planet Fitness sponsors New Year's Eve celebration despite pandemic", "David Gilliland Racing Fielding Fourth Entry for Joey Logano in Bristol Dirt Race", "The Judgement Free Zone: Judgement Free Generation Video Contest", "Planet Fitness Opens In Fremont, Donates $1K To Boys & Girls Club", "Planet Fitness 'Judgment Free Zones' a Model of Inclusion", "Planet Fitness Anti-Bullying Initiative $1M Success", "Planet Fitness debuts fitness room for kids at Boys and Girls Club in Manchester", "Planet Fitness Opens Judgement Free Gym at Pasadena Boys and Girls Club", "Planet Fitness raises $1M for Boys and Girls Clubs of America", "Planet Fitness named national gym sponsor of 'The Biggest Loser', https://en.wikipedia.org/w/index.php?title=Planet_Fitness&oldid=1142494313, Companies based in Rockingham County, New Hampshire, Companies listed on the New York Stock Exchange, Health care companies established in 1992, Medical and health organizations based in New Hampshire, Short description is different from Wikidata, All Wikipedia articles written in American English, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 2 March 2023, at 18:29. Robert Beaupre leads the SMB team at NerdWallet. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. 4. 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. 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. -In thousands and rounded; represents electronic funds presented for draft for the 12 months of calendar year 2019 and 2020, respectively. 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. Orange Theorys success is quite similar to Pelotons rise to fame. However, this does not influence our evaluations. This metric is the standard industry investment amount for a single unit franchise investment in this industry. "[20] In 2003, Planet Fitness opened its first franchised location in Florida, with Eric Dore and Shane McGuiness. Orange Theory was ranked 49th in the franchise 500 rankings according to entrepreneur.com. [47], In March 2013, Planet Fitness partnered with 50 Cent to sell his energy drink "Street King". This information may be different than what you see when you visit a financial institution, service provider or specific products site. [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. [13] The new model was an effort to provide a fitness hub for everyday people. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. 6.4 miles away from Planet Fitness. The Initial Franchise Fee is uniform and non-refundable. 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. Franchise candidates can expect to pay anywhere between $354k to $1.2m. Planet Fitness franchisees also compete against other smaller gym and fitness business locations. Except for signage, Planet Fitness will not require substantial remodeling more often than every 5 years during the term of the Franchise Agreement. Mr. Hymes has over 30 years of experience leading domestic and international retail, franchise, and e-commerce businesses for global companies, most recently serving as the President and Chief Executive Officer of Jiffy Lube International. New franchise owners can also expect to participate in a comprehensive training program, as the franchise requires their franchisees to be certified barre instructors. 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 . was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. [36], The company reports that as of 2019, there are 80 corporate-owned gyms, the rest independently owned and operated. By contacting current franchise owners and asking about their experience with the franchised business, the earnings and/or success thus far, training and support from the franchisor, Pla-FitFranchise, and whether or not they would buy the franchise again if they could do it all over again, you can learn what its really like to own a Planet Fitness business before you actually purchase a franchise. 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. 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. In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. This model has become extremely sticky in the fitness industry because while many people want to achieve their fitness goals, they innately lack motivation. According to their website, Pure Barre is the oldest and most established barre studio out there. List to Contact Planet Fitness Franchise Owners - Planet Fitness Owners Contact List. Subscribe to our newsletters and keep up-to-date with the latest news in the franchise industry. [54][55] Also in 2016, the company donated more than $1 million to the program. Fitness franchises are currently booming with the largest franchises globally being Anytime Fitness and Planet Fitness. Looks like your subscription is due. [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. Golds Gym also requires that potential franchisees have a minimum of $1 million in net worth and $400,000 in liquid assets. 1,600+ locations open and we're just getting started! Even if your network of Planet Fitness franchises earns above $% a million, you will not be able to recover costs just by selling it. Compared to $145 million in 2020, they saw an increase of 44% from 2020 to 2021. is growing quickly: In 2018, The Bar Method saw a 118% growth rate. Call (888) . Pre-qualified offers are not binding. 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. We offer the most complete and most accurate mailing/telemarketing list for Planet Fitness franchise owners. - In the United States, the total investment to start the Planet Fitness gym is around $969,600 to $4,242,500. You must pay a supplemental fee of $5,000, per location remaining to be developed, plus our reasonable out-of-pocket expenses, including external legal and administrative costs we incur in connection with the transfer. This covers the cost of being able to use their name and logo. [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. - In currency of Germany, the investment comes around EUR 805,430 to EUR 3,524,180. We got you! To open a gym, a franchisee must have of $3 million with $1,500,000 in liquid assets. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. So how do we make money? Here is a list of our partners. Like. This article originally appeared on JustBusiness, a subsidiary of NerdWallet. 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. 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. [24] Michael Grondahl, co-founder of Planet Fitness stepped down as CEO, and was succeeded by Chris Rondeau. The Area Development Fee is uniform and non-refundable. According to Franchise Direct, the initial franchise fee is $20,000, while the area development fee is $10,000. The following costs are part of the upfront costs included in the initial investment for Planet Fitness locations. 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. Prior to Planet Fitness, Ms. Gosselin worked at Dunkin Brands on the global public relations team. Performing this action will delete your account. We provide estimated franchise costs for some countries: 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. 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. Prior to Jiffy Lube, he served on Shells global Downstream Acquisitions & Divestments Leadership Team with responsibility for transaction delivery across North and South America. Cash Required $1,500,000. This large discrepancy indicates the potential different costs you could face when building your Orange Theory franchise as a franchisee. 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. 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. 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. He held multiple store operations positions with P&L responsibility progressing from Store Manager to Regional Manager. $10,000, plus our reasonable out-of-pocket expenses, including external legal and administrative costs we incur in connection with the transfer. Initial franchise terms are 10 years. 1 comment. Ultimately, the only way to know which gym franchise is right for you is to do your own due diligence. HAMPTON, N.H., Jan. 11, 2022 - Planet Fitness, Inc. (NYSE: PLNT ), one of the largest and fastest-growing franchisors and operators of fitness centers with more members than any other fitness brand, announced today it has signed a definitive agreement to acquire Sunshine Fitness Growth Holdings, LLC ("Sunshine Fitness"), a leading owner and Initial investments: $969,600 - $4,242,500 Net Worth Requirement: $3,000,000 Liquid Cash Requirement: $1,500,000 Estimated Initial Investment She played a pivotal role in creating breakthrough nation marketing campaigns that have built the brand over the past two decades, including iconic advertising campaigns like Lift Things and No Gymtimidation, along with pillar marketing sponsorships like the brands New Years Eve celebration in Times Square. [25][26] The company went public on August 6, 2015. Here is a list of our partners and here's how we make money. Previously, Mr. Fitzgerald served as Chief Administrative Officer of Sears Canada. 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. Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. All reactions: 8. The Fitness Center industry has over 111,000 businesses with a market size of $34 billion, and it supports over 800,000 jobs. When evaluating offers, please review the financial institutions Terms and Conditions. Your experience may vary depending on whether you finance tenant improvements, your location, and other factors. [6], In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. 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. 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). Pre-qualified offers are not binding. We also suggest that you speak to 3 5 Planet Fitness owners before opening one yourself. Edward Hymes joined Planet Fitness in January 2023 as President and Chief Operating Officer. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105. 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). Lead Assigning Editor | Small business finances, investing, banking. That said, all of the gym franchises on this list (and those that arent on this list) allow curious investors to request more information for free. But perhaps most important to this process is interviewing current franchisees. Our research and analytics team analyzed over 120 franchise concept investment breakdowns in order to calculate this figure. Disclaimer: NerdWallet strives to keep its information accurate and up to date. has over 8,900 franchises across the country. The owner of the franchise (the franchisee) is expected to be involved in all aspects of day-to-day operations. 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. Planet Fitness franchise costs, based on Item 7 of the company's 2022 FDD: Initial Franchise Fee: $20,000 Site Selection Costs: $0 to $10,000 Construction Development Plan Review Fee: $0 to $4,000 Leasehold Improvements: $1,250,000 to $2,163,000 Fitness Equipment: $34,000 to $953,000 Non-Fitness Equipment: $63,000 to $825,000 Franchise Sales Manager Planet Fitness 4 Liberty Lane West Hampton, NH 03842 Phone: (603) 750-0001 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. 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. [34] The royalty fee for a Planet Fitness is 7% of the total gross monthly and annual membership fees. As a franchise owner, youll benefit from a proven business model, brand recognition, existing customer base, vendor network, and robust franchisee support system. Get in touch with Planet Fitness Owners from around the US with verified contact data for all owners of all Planet Fitness locations. 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. Building in competition to workouts enhances ones motivation and keeps consumers coming back. Join PFIFC In fact, in a recent Inc. 5000 list of the 10 fastest growing franchises, four were fitness franchises. Mr. Fitzgerald began his career at PepsiCo, where he held various leadership roles in finance and planning. McCall Gosselin joined Planet Fitness in January 2013 and currently serves as SVP of Communications and Corporate Social Responsibility. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. Investing in an Orange Theory franchise is an interesting opportunity, especially for individuals looking to make their way into the Fitness industry. 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. Prior to joining Planet Fitness, Mr. Even more reason to consider investing in a gym franchise? When evaluating offers, please review the financial institutions Terms and Conditions. Currently, the Planet Fitness franchise has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. Training starts with one week at the companys San Francisco headquarters, followed up by three to six months of training, led by a dedicated trainer, in your home location. FranchiseComplaints.org 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. Please confirm by clicking on the Cancel Subscriptionbutton below. Justin Vartanian serves as General Counsel and SVP, International Division overseeing all legal matters and international development. Estimated total initial investment: $304,500 to $2.1 million. 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. Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. [15], Rondeau and the Grondahls recognized that there was a greater opportunity to serve a much larger segment of the population if they changed the gym environment, both in attitude and format, by creating a non-intimidating, low-cost model. Initial franchise fee: $32,000 to $40,000, Estimated total initial investment: $2.2 million to $5 million. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. Estimated annual transaction costs per location range from $9,000- $72,000, Equal to 50% of our then-current initial franchise fee.

Houses For Rent In Lackawanna, Ny, Pragmatic Sampling Advantages And Disadvantages, Articles P