Ms. Medeiros has been instrumental in developing and refining Planet Fitness marketing strategy and differentiated Judgement Free positioning in the fitness industry. Estimated total initial investment: $2,405 to $3,200. LearningRx Franchise Corporation 5085 List Drive, #200 Colorado Springs, CO 80919 Phone: (719) 264-8808 Liz Anderson . With this purchase, which was for an undisclosed amount, United PF's club count has . 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. Ms. Medeiros received her Bachelors degree from the University of New Hampshire. The highest Planet Fitness franchise made over 3 million dollars in revenue, whereas the lowest earning one made $165,000. According to their website, Pure Barre is the oldest and most established barre studio out there. We started our business in 1992 and refined our brand for a decade or so before franchising in 2003. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. Our research and analytics team analyzed over 120 franchise concept investment breakdowns in order to calculate this figure. 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. The owner of the franchise (the franchisee) is expected to be involved in all aspects of day-to-day operations. Planet Fitness Franchise Cost and Requirements for 2023 - IFPG Pure Barre has over 500 open locations across North America with tons of available studio markets in the U.S. United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. [16] Planet Fitness became known as the "Judgement Free Zone", aimed more at the average user than the bodybuilder type of fitness enthusiast. Pure to Joseph Pilates' original Reformer-based Contrology Method, but modernized with group read more. Many or all of the products featured here are from our partners who compensate us. Planet Fitness Franchise Costs, Fees, Revenues, Profits (2022 Review) Former Gov. Fitness franchises are currently booming with the largest franchises globally being Anytime Fitness and Planet Fitness. [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. This model has become extremely sticky in the fitness industry because while many people want to achieve their fitness goals, they innately lack motivation. Year Business Began: 1992. subject to maximum fee of $40,000, Concurrently with our granting a successor franchise to you, Actual costs (approximately $1,200 per visit), Cure Period Extension Fee (Franchise Agreement), Paid monthly via EFT on the day designated as your Monthly Membership Billing Day, as defined in our Franchise Agreement, Grace Period Fee (Area Development Agreement), Paid monthly beginning on the first day of the
Planet Fitness Franchise Cost The estimated total investment necessary to begin the operation of a Planet Fitness Franchise ranges from $1,625,600 - $4,921,000. Pre-qualified offers are not binding. has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. We got you! Benson, who co-founded the former Cabletron Systems, once the . Robert Beaupre leads the SMB team at NerdWallet. Largest Planet Fitness Franchisee Group Acquired by New York Private ", "Planet Fitness revokes woman's membership after transgender complaint", "Planet Fitness Has New Investor; Promotes Rondeau To CEO", "Former Radio Shack CFO Fills Planet Fitness Hole", "Planet Fitness goes public, hits mark in first day of trading", "Ranking America's Best And Worst Franchises: Which Are The Best Investments? - In currency of Germany, the investment comes around EUR 805,430 to EUR 3,524,180. [56][57][58] Planet Fitness has also provided mini "Judgement Free Zone" gyms to Boys & Girls Clubs in Manchester, New Hampshire[59] and Pasadena, California. 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 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. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. By becoming a franchise owner, you can benefit from a proven business model, existing customer base, and franchisee support system. [27], In February 2016, the franchise was added to the Franchise Times' "Fast and Serious" list of top franchises (No. Planet Fitness - Wikipedia 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. This investment is much higher than the industry standard of $253,000. PDF Together We Are Franchising [36], The company reports that as of 2019, there are 80 corporate-owned gyms, the rest independently owned and operated. Co-founder, Elle Latham, decided to open a gym to implement her personally designed workout, which eventually became the basis for Orange Theorys system. service, Computer System. [4], In October 2011, Planet Fitness reached an agreement with NBC to sponsor the network's reality show The Biggest Loser beginning with the 2012 season. The board of directors at Planet Fitness is as follows: Stephen Spinelli, Jr. (Ph.D.), Chairman Chris Rondeau (CEO) Bernard Acoca Enshalla Anderson Craig Benson Cammie Dunaway Frances Gregg Rathke Christopher Tanco For example, this includes replacing your cardio equipment every 5 years and replacing your non-cardio equipment every 7 years. Estimated annual transaction costs per location range from $9,000- $72,000, Equal to 50% of our then-current initial franchise fee. Burn Boot Camp This large discrepancy indicates the potential different costs you could face when building your Orange Theory franchise as a franchisee. 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. Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. Planet Fitness competes in the Fitness market against big brand companies such as Orange Theory and Golds Gym. 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. In this role, he has overall leadership and accountability of the brands primary revenue producing business segments, including U.S. and international franchise operations and development, equipment sales, and Corporate stores, in addition to both the technology and legal functions. 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. Point of Sale System, and other Supplies, Your Out-of-Pocket Initial Training Expenses, Operating Cash (Additional Funds Pre-Opening and first six months), $7% of the total gross monthly and annual membership fees payable to you via EFT Dues Draft, Internet Membership and Balance Payment Administration Fee, Set according to our Methods of Operations, presently 55 per membership application or balance payment we process for your franchise location, Fees to Evaluate and Approve Alternative Suppliers, Our reasonable costs and expenses, which currently are expected to range between $1,000 and $5,000, although costs could greatly exceed those amounts depending on the product, Will var under the circumstances: estimated insurance premiums for your first year are $10,000 to $20,000. Use this opportunity to ask qualitative questions that you wouldnt necessarily have answered through the FDD, or from the franchisors marketing materialslike how happy they are with the initial training and ongoing support they receive, and their opinions about the overall outlook of the business. The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. [17], As part of their effort to create a non-intimidating environment, Planet Fitness has alienated many serious weight lifters. All told, their gyms boast over 14 million members worldwide. 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. 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. PF Independent Franchisee Council If you own and operate multiple Planet Fitness businesses in the same market area and LAF spending for them is combined. 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. He began working at Shell in 2001, holding broad and diverse roles including strategy, business development, project management, and deal delivery. Prior to Potbelly, he served in varying executive roles at Charming Charlie Inc. including President and Chief Financial Officer, and Chief Administrative Officer. Currently, Golds Gym franchise has available markets in almost every state across the country, and select international opportunities. 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. Initial franchise fee: $32,000 to $40,000, Estimated total initial investment: $2.2 million to $5 million. 8. 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. In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. Please renew to keep using our services. 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. Therefore, this may include substantial remodeling of your premises as frequently as every 5 years. 3- Based on a midpoint investment of $3,273,300 with estimated profits of $831,881 at a 15% profit margin, it would take about 14 years to recoup your investment. Prior to joining the Company, Mr. ODonnell most recently served as Vice President of Finance and Chief Accounting Officer at Sonus Networks. Planet Fitness | Judgement Free Zone | Gym and Fitness Club The fitness center industry is mainly divided into two groups, either a specialized fitness boutique or a full-scale gym with multiple amenities and services. Investing in an Orange Theory franchise is an interesting opportunity, especially for individuals looking to make their way into the Fitness industry. [44][37] In 2016, over 90% of Planet Fitness locations were opened by existing franchise owners. All financial products, shopping products and services are presented without warranty. New franchise owners can also expect to participate in a comprehensive training program, as the franchise requires their franchisees to be certified barre instructors. Your actual costs may be higher or lower depending on the size and location of your Planet Fitness business. Our partners compensate us. 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. 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. Planet Fitness Franchise Cost Worth the Profit? - Vetted Biz ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. process lies in obtaining a current list of Planet Fitness franchise owners. At Yum! 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. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. Even though its smaller than Pure Barre. So long as you are not decided on the fitness industry, we recommend you have a look at other offerings. We believe that this franchise is an option for those that are passionate about fitness and are willing to put in the hours to make the business run smoothly. Club Pilates North Shore is a boutique Pilates studio specializing in reformer fusion classes for anyone, at any age or fitness level. Building in competition to workouts enhances ones motivation and keeps consumers coming back. "[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. Fitness Franchisee Contact Lists - FranchiseComplaints.org There are some units of Planet fitness franchisees making more than that or some making less than that. 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. When evaluating offers, please review the financial institutions Terms and Conditions. 1. Once you start operating your Pure Barre location, youll be responsible for a monthly royalty fee of 7% of gross sales and a 1% monthly marketing fee. Orange Theorys success is quite similar to Pelotons rise to fame. Review the chart below to see how much it costs to buy a Planet Fitness franchise in 2022. In this role, he is responsible for all aspects of financial strategy and management. Due Date: Paid monthly and annually. Prior to joining Planet Fitness, Mr. Vartanian was a corporate attorney at Devine Millimet. 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. Bode held several senior leadership positions at Dunkin' Brands, including serving as Regional Vice President of Dunkin' Donuts Northeast where he was responsible for overseeing the operations of more than 2,600 restaurants. 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. The 2019 Planet Fitness Franchise Awards were given to the following: Hall of Fame: Jeff & James Innocenti - PF Supreme Franchisee of the Year: Mike Turner & CJ Bouchard - Excel Fitness Operator of the Year: Steve Kindler, Jr. - National Fitness Partners Developer of the Year: Tim Kelleher - Taymax Group [49] [50], Since 2015, Planet Fitness has been a personal sponsor of NASCAR driver and champion Joey Logano. It is important to talk to other franchisees and see what their costs were for leasehold improvements and construction. Planet Fitness growth continued over the next decade and in 2013, TSG Consumer Partners, LLC became an equity partner in the Planet Fitness franchise. This document includes information about the franchises financial standing, capital requirements, franchisee training, and ongoing franchise fees, among other crucial information. The fitness center industry has grown with the rise in disposable income and demand for a more health-conscious lifestyle among millennials. JLM Financial Partners, Austin, Texas, and Eagle Merchant Partners, Atlanta . An individual planet fitness franchise owner can make around $513,00 to $5,554,000 annually. 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. We offer the most complete and most accurate mailing/telemarketing list for Planet Fitness franchise owners. Then, the last four workouts in the program will take place in the gym and you'll learn how . ASK QUESTIONS ABOUT THE FRANCHISE, Distributorship Opportunities For Business, the terms of
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. Headquarters: Hampton, New Hampshire. is growing quickly: In 2018, The Bar Method saw a 118% growth rate. Both of these fitness companies, while they differ in business models, use your own fitness data and others to create a competitive atmosphere. You must maintain your equipment according to Planet Fitness brand standards. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. 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. [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. Benson is back on the board of Planet Fitness This influences which products we write about and where and how the product appears on a page. Initial Franchise Fee: $20,000
- In currency of the United Kingdom, the investment comes around 694,900 to 3,040,600. Thanks to that near-legendary status in the fitness world, and their loyal customers, Jazzercise has over 8,900 franchises across the country. If a fitness business with a franchise sounds good, heres nine of the most promising options for a gym franchise. Ms. Gentilozzi is a certified Senior Professional in Human Resources (SPHR). It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. As a franchise owner, youll benefit from a proven business model, brand recognition, existing customer base, vendor network, and robust franchisee support system. 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. [13] The new model was an effort to provide a fitness hub for everyday people. We now have: 2,400+ locations open (and we're just getting started!) - In Indian currency, the investment comes around Rs 7,14 crores to Rs 31,23 crores. He has covered financial topics as an editor for more than a decade. 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 locations around the U.S. as well as Canada and the Dominican Republic. Many of these are one-time fees that are needed to launch the franchise. They opened a new gym called Coastal Fitness and the Grondahls hired current CEO. Annually Updated with New Owners of Planet Fitness Locations in the USA. It is reported to be the nations fastest growing fitness center franchise. Youre about to cancel your subscription. West Hampton, NH 03842, USA, Interested? As a result, she has played an instrumental role in the major strategic decisions made by the Company. However, this does not influence our evaluations. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. If you can name a franchise business, it's probably on our Franchise owners marketing list. NerdWallet strives to keep its information accurate and up to date. Planet Fitness is a profitable business for the franchisor, with retained earnings of $210 million in 2021. 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. You will pay a lump-sum nonrefundable Initial Franchise Fee in the amount of $20,000 when you sign the Franchise Agreement. Franchise. In 2020, he joined the International Franchise Association (IFA) Board of Directors; board members are drawn from a world-class set of franchise brands. [47], In March 2013, Planet Fitness partnered with 50 Cent to sell his energy drink "Street King". Subscribe to our newsletters and keep up-to-date with the latest news in the franchise industry. 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. Planet Fitness franchise is one of the largest fitness US chains by a number of members and locations. You'll build confidence while increasing your fitness knowledge. From the start, Planet Fitnesswas an inclusive, non-intimidating gym and in 1997, Planet Fitness officially unveiled its Judgement Free Zone philosophy. Even though its smaller than Pure Barre, The Bar Method franchise is growing quickly: In 2018, The Bar Method saw a 118% growth rate. We provide estimated franchise costs for some countries:
Franchise Owners Marketing Lists - Dataman Group Direct The difficult part of this step of the franchise buying due diligence process lies in obtaining a current list of Planet Fitness franchise owners. However, this ultra-famous franchise is the most expensive on this list, with an estimated upfront investment potentially reaching over $5 million. Cash Required $1,500,000. [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. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. Although gym franchises require that the owner has previous management experience, most dont require experience in the. Are fitness franchises profitable in 2022? - Glofox "[22], As early as March 2015, the "Judgement Free Zone" policy was expanded to allow trans women to use the women's locker room. [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. 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. Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing gym franchises in the United States. Due Date: Expended according to Planet Fitness Methods of Operations as per your advertising budget. Wed recommend meeting with your bank or accountant to help you determine which franchise is financially doable for you right now. 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. Join now to become a registered PFIFC member and gain access to a wealth of information that will help you succeed as a Planet Fitness owner. 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. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. 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. You may need additional operating capital, or you may need it for a longer period of time. 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. [48], Since December 2014, Planet Fitness has been the official fitness sponsor of Dick Clark's New Year's Rockin' Eve on ABC. Ms. Kaplan has over 20 years of experience, most recently serving as Global Marketing Operations Advisor for Advent International, a global private equity firm. Prior to that, she served as the Vice President of Digital Marketing & Innovation at Dunkin Brands where she was responsible for developing and marketing Dunkins digital platforms, including the DD Mobile app and the DD Perks loyalty program. Today the brand has over 2,000 locations system-wide. 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. Reaching out to multi-unit franchise owners and regional developers gives you the ability to get your products and services into many locations with just one sale .