Please scroll down for a partial list of franchise businesses. Planet Fitness franchisees also compete against other smaller gym and fitness business locations. - In currency of the United Kingdom, the investment comes around 694,900 to 3,040,600. 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. The $10 per month level includes access to cardio and strength equipment, unlimited group fitness instruction and pizza and bagels once a month; the $24.99 per month ("Black Card") level allows members to bring one guest per day at no charge, access to all Planet Fitness locations, and access to extra amenities, such as tanning booths, massage chairs, red light therapy and water massage beds. 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). Order now to get instant access to the complete Planet Fitness franchise owners. When evaluating offers, please review the financial institutions Terms and Conditions. Franchise Description: Planet Fitness Franchising LLC is the franchisor.The ultimate parent company is Planet Fitness, Inc. You have to pay this upfront fee when opening a Planet Fitness franchise. Due Date: Expended according to Planet Fitness Methods of Operations as per your advertising budget. 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. 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. This information may be different than what you see when you visit a financial institution, service provider or specific products site. 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. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. It is important to talk to other franchisees and see what their costs were for leasehold improvements and construction. The prospects for growth and success within the industry and the Orange Theory brand itself, are extensive, and some markets continue to be available as they move forward with growing their presence across the country. Assistant Assigning Editor | Small-business finance, personal finance. [29], In 2020, the company received criticism for charging its customers for March dues "despite closing its facilities nationwide due to the novel coronavirus pandemic. Performing this action will delete your account. 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. has over 8,900 franchises across the country. "[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. The fitness center industry has grown with the rise in disposable income and demand for a more health-conscious lifestyle among millennials. "[23], In the fall of 2013, TSG Consumer Partners LLC became an equity partner in the Planet Fitness franchise. Annually Updated with New Owners of Planet Fitness Locations in the USA. This model has become extremely sticky in the fitness industry because while many people want to achieve their fitness goals, they innately lack motivation. 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. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. Even after the pandemic hit, it continued to grow at a rate of over 100 units. In this role, he will lead the Companys technology evolution and strategy, focused on delivering technology solutions that will continue to enhance the member experience while optimizing infrastructure, data and operations for flexibility and scale. 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. Liquid Cash Requirement: $1,500,000. NerdWallet strives to keep its information accurate and up to date. Even if your network of Planet Fitness franchises earns above $% a million, you will not be able to recover costs just by selling it. Office Depot, Planet Fitness, Roto Rooter, Starbucks, Taco Bell, Travelers, and United Health Group. 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. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. Prior to joining Planet Fitness, Mr. Vartanian was a corporate attorney at Devine Millimet. 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. Ms. Medeiros received her Bachelors degree from the University of New Hampshire. Whether youre a gym rat yourself or youre passionate about helping others achieve their health goals, starting a fitness business can be a dream gig for health-conscious entrepreneurs. - In the United States, the total investment to start the Planet Fitness gym is around $969,600 to $4,242,500. Sorry. process lies in obtaining a current list of Planet Fitness franchise owners. In other words, franchising takes most of the heavy lifting off your shoulders. 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. That said, Orangetheory is designed for people of all fitness levels, since participants can go entirely at their own pace. At that time, Michael Grondahl stepped down as CEO and Chris Rondeau took his place and has held the position since. 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. [8][9][7] In 2002, they purchased the rights to the name Planet Fitness from Rick Berks and renamed their franchise. Previously, she was an editor at Fundera, where she developed service-driven content on topics such as business lending, software and insurance. 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. [48], Since December 2014, Planet Fitness has been the official fitness sponsor of Dick Clark's New Year's Rockin' Eve on ABC. Do not sell or share my personal information. 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 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. 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. Initial Franchise Fee: $20,000 Although gym franchises require that the owner has previous management experience, most dont require experience in the fitness industry. Our research and analytics team analyzed over 120 franchise concept investment breakdowns in order to calculate this figure. Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. 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. - In Indian currency, the investment comes around Rs 7,14 crores to Rs 31,23 crores. As a result, she has played an instrumental role in the major strategic decisions made by the Company. 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. Planet Fitness ( PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. 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 Management Information Systems from Northwood University. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. Initial franchise terms are 10 years. In this role, she oversees general HR operations, talent acquisition, leadership development, business partner support, culture and employee engagement, benefits and compensation. 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. ? 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. But perhaps most important to this process is interviewing current franchisees. He has covered financial topics as an editor for more than a decade. He began working at Shell in 2001, holding broad and diverse roles including strategy, business development, project management, and deal delivery. United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. Then, the last four workouts in the program will take place in the gym and you'll learn how . 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. Planet Fitness trademarked the phrase judgment free zone, so that alone should give you a sense of this gyms major value: inclusivity for all people, regardless of their fitness levels. You have to pay this upfront fee when opening a Planet Fitness franchise. 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. has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. Planet Fitness franchise was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. 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. Initial term lengths last 10 years. So how do we make money? The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. Owning a UFC Gym means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. Franchise candidates can expect to pay anywhere between $354k to $1.2m. Total Investment $728,290 - $3,777,800. Initial franchise fee: $32,000 to $40,000, Estimated total initial investment: $2.2 million to $5 million. This large discrepancy indicates the potential different costs you could face when building your Orange Theory franchise as a franchisee. 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). Currently, the Orangetheory franchise 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). 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. Across 50 states the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia Be advised to match Planet Fitness franchise cost and profit by analyzing low and high fees you need to pay starting a Planet Fitness franchise. The total investment ranges from $728,290 to $3,777,800. from Boston University and an M.B.A. from the University of Denver, Daniels College of Business. 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. Lets get started. The most popular workout model from Snap Fitness is known as MYFIT. Join PFIFC Gathering all available information about each potential franchise will help you land on the gym that not only works for you financially, but that also resonates with your lifestyle and values. The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. Planet Fitness businesses are fitness training facilities offering exercise machines and free weights, fitness training services, tanning services . The initial Planet Fitness Franchise Fee is $20,000. They provide an affordable, high-quality fitness experience in a welcoming environment. Here is a list of our partners and here's how we make money. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. This metric is the standard industry investment amount for a single unit franchise investment in this industry. Kathy Gentilozzi joined Planet Fitness in 2019 as the Companys Chief People Officer. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. Ms. Medeiros has been instrumental in developing and refining Planet Fitness marketing strategy and differentiated Judgement Free positioning in the fitness industry. Call (888) 977-4374. Mr. ODonnell holds a CPA and received his Bachelors degree in Accounting from Assumption College in Massachusetts. Although gym franchises require that the owner has previous management experience, most dont require experience in the. 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. Get in touch with Planet Fitness Owners from around the US with verified contact data for all owners of all Planet Fitness locations. 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. 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 The Planet Fitness initial franchise fee is $20,000. The name came from his daughter's school project, "Fitness Planet". 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. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. Please renew to keep using our services. These figures are estimates based on Planet Fitness and its affiliates experience in operating locations. The estimated total investment necessary to begin the operation of a Planet Fitness Franchise ranges from $1,625,600 $4,921,000. But buying into a gym franchise is a less risky venture than building a gym from the ground up. If you are an individual with a passion for fitness and are willing to invest an amount ranging from $657,542 $2,105,322 or more, Orange Theory might be the right fit for you. 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. If a fitness business with a franchise sounds good, heres nine of the most promising options for a gym franchise. [14] Berks later went on to open the first Youfit Health Club in St. Petersburg, Florida. Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. Pre-qualified offers are not binding. You'll also benefit from . Please confirm by clicking on the Cancel Subscriptionbutton below. You'll build confidence while increasing your fitness knowledge. Estimated total initial investment: $2,405 to $3,200. 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. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. Your actual costs may be higher or lower depending on the size and location of your Planet Fitness business. was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. Orange Theory Franchise was founded in Boca Raton, Florida in 2009. 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. We provide estimated franchise costs for some countries: So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. Robert Beaupre leads the SMB team at NerdWallet. [16] Planet Fitness became known as the "Judgement Free Zone", aimed more at the average user than the bodybuilder type of fitness enthusiast. FranchiseComplaints.org The Area Development Fee is uniform and non-refundable. - In currency of Germany, the investment comes around EUR 805,430 to EUR 3,524,180. According to their website, Pure Barre is the oldest and most established barre studio out there. The initial Planet Fitness Franchise Fee is $20,000. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. Jamie Medeiros joined Planet Fitness in 2000, where she worked at the front desk in the Companys third location before transitioning to the Planet Fitness corporate marketing team. 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. Rated Excellent on TrustPilot with feedback from 50+ customers. 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. Even more reason to consider investing in a gym franchise? Fitness centers have experienced sustained growth since the post-economic crisis in 2009. Prior to Planet Fitness, Ms. Gosselin worked at Dunkin Brands on the global public relations team. An innovative entrepreneur, Mr. Rondeau was honored as an EY Entrepreneur of the Year and inducted into the UNH Alumni Entrepreneur Hall of Fame. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. All initial fees are the same for both initial and conversion franchises. 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. [25][26] The company went public on August 6, 2015. [54][55] Also in 2016, the company donated more than $1 million to the program. 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. Initial franchise fee: $30,000 to $50,000, Estimated total initial investment: $100,000 to $2 million.
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