has opened over 4,000 locations on all seven continents. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. Burn Boot Camp 2% of the total gross monthly EFT Dues Draft. That said, as of June 2022, Planet Fitness has paused offering franchises. 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. Prior to joining Planet Fitness, Mr. Vartanian was a corporate attorney at Devine Millimet. Ms. Kaplan has over 20 years of experience, most recently serving as Global Marketing Operations Advisor for Advent International, a global private equity firm. Pure to Joseph Pilates' original Reformer-based Contrology Method, but modernized with group read more. The number of fitness franchise locations has been steadily increasing to a total of about 2,039. . This covers the cost of being able to use their name and logo. The second Toronto location opened in early 2015. The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. 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. Bill Bode serves as Division President, U.S. 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 . Prior to that, Ms. Gentilozzi served as Senior Vice President of Human Resources at Aropostale, supporting over 25,000 employees in 1,000 retail locations throughout the U.S., Canada, and Puerto Rico. He began working at Shell in 2001, holding broad and diverse roles including strategy, business development, project management, and deal delivery. The Planet Fitness initial franchise fee is $20,000. Find Accurate Contact Data for Fitness Franchise Owners. You are going to upgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. Both within the fitness industry and American culture at large, Golds Gym has become legendary for their famous members (including Arnold Schwarzenegger) and their status as the mecca of bodybuilding. Since their founding by a Merchant Marine veteran in 1965, the Los Angeles-based gym has opened over 700 gyms in 29 states and 29 countries, and their international membership is 3 million devotees strong. 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. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. Mind that the franchise requirements for sale could be different depending on the format and scope of business. Thats why we put together this complete mailing/telemarketing list containing contact the names, phone numbers and physical addresses of business owners in the franchise system and certain former franchise operators. ASK QUESTIONS ABOUT THE FRANCHISE, Distributorship Opportunities For Business, the terms of
Paul Barber joined Planet Fitness in October 2022 as the Companys Chief Information Officer. These figures are estimates based on Planet Fitness and its affiliates experience in operating locations. Royalty fees and advertising fees are generally calculated as a percentage of gross sales in franchise agreements, but Anytime Fitness rates are flat from month to month, which makes it easier for you to plan and organize your expenses. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. [14] Berks later went on to open the first Youfit Health Club in St. Petersburg, Florida. This is a good indication of high growth as a company overall. 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. 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 [35], The net worth requirement for a Planet Fitness franchise is $3,000,000, while the liquid cash requirement is $1,500,000. According to their website, Pure Barre is the oldest and most established barre studio out there. Currently, the. The franchise requires that candidates have access to over $90,000 in liquid capital, and a minimum net worth of $300,000. "[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. At that time, Michael Grondahl stepped down as CEO and Chris Rondeau took his place and has held the position since. 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. 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. 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. 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. Kick off your search with this list of nine of the most promising gym franchises to buy. 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. 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. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. Have questions? Previously, she served as Head of Marketing and Sales for Zipcar, the worlds leading car-sharing network, where she was a key member of the executive leadership team responsible for demand and revenue generation and all marketing functions. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. You have to pay this upfront fee when opening a Planet Fitness franchise. industry. [13] The new model was an effort to provide a fitness hub for everyday people. Planet Fitness ( PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. - In Malaysian currency, the investment comes around MYR 3,93 million to MYR 17,21 million. 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. [25][26] The company went public on August 6, 2015. Lead Assigning Editor | Small business finances, investing, banking. 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. When evaluating offers, please review the financial institutions Terms and Conditions. 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. 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. When evaluating offers, please review the financial institutions Terms and Conditions. 1 comment. 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. [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. [28] It ranked in the top 50 of Entrepreneur magazine's Franchise 500 in 2017. 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. [18] This low-cost business model focuses on the needs of occasional or first-time health club members, rather than more experienced members,[6] and depends on many members rarely showing up. Ongoing Royalty Fee: $449 - $549/mo. This document includes information about the franchises financial standing, capital requirements, franchisee training, and ongoing franchise fees, among other crucial information. 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. 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. 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. 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 Investing in an Orange Theory franchise is an interesting opportunity, especially for individuals looking to make their way into the Fitness industry. The owner of the franchise (the franchisee) is expected to be involved in all aspects of day-to-day operations. Although gym franchises require that the owner has previous management experience, most dont require experience in the fitness industry. Liquid Cash Requirement: $1,500,000. He held multiple store operations positions with P&L responsibility progressing from Store Manager to Regional Manager. 1- Based on a midpoint investment of $3,273,300 with estimated profits of $77,293 at a 5% profit margin it would take about 42 years to recoup your investment. With this purchase, which was for an undisclosed amount, United PF's club count has . The difficult part of this step of the franchise buying due diligence process lies in obtaining a current list of Planet Fitness franchise owners. It offers classes for dance, aqua, cycle, box, pilates, and many more. 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. process lies in obtaining a current list of Planet Fitness franchise owners. 4 Liberty Ln. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. The estimated total investment necessary to begin the operation of a Planet Fitness Franchise ranges from $1,625,600 $4,921,000. Orange Theory Franchise was founded in Boca Raton, Florida in 2009. 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. * The data above, compiled from the Planet Fitness FDD (Franchise Disclosure Document) 2020, represent the estimated financial range for the initial setting up and first 6 months of operation for a new Planet Fitness gym. 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. 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. locations around the U.S. as well as Canada and the Dominican Republic. Cash Required $1,500,000. Now, We Own 22 Locations", "What your new gym doesn't want you to know", "Planet Fitness vs. the lunkheads: Why is a health club trying to alienate people who love to work out? Planet Fitness offers people the opportunity to be a part of the fitness business, but we do not believe this is sustainable. Absentee Ownership Allowed, Planet Fitness Franchise Info: https://www.planetfitness.com. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. The initial Planet Fitness Franchise Fee is $20,000. Sorry. He joined Planet Fitness in 2016 as the Senior Vice President of Franchise Operations. With that accessible attitude in mind, Planet Fitness tries particularly to target the 80% of the American and Canadian population who dont have gym memberships. 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. 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. 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. All initial fees are the same for both initial and conversion franchises. In other words, franchising takes most of the heavy lifting off your shoulders. Call (888) . 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. 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. Estimated total initial investment: $303,000 to $499,850. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. All financial products, shopping products and services are presented without warranty. In 2020, he joined the International Franchise Association (IFA) Board of Directors; board members are drawn from a world-class set of franchise brands. Previously, she was an editor at Fundera, where she developed service-driven content on topics such as business lending, software and insurance. Planet Fitness Independent Franchisee Council Join Us Today! Browse 1000s of reports on 1000s of franchise systems. Planet Fitness is a profitable business for the franchisor, with retained earnings of $210 million in 2021. We reviewed the larger franchise industry as well as selling price multiples for larger systems where more transaction data is available. 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. Year Business Began: 1992. All reactions: 8. Order now to get instant access to the complete Planet Fitness franchise owners. Annually Updated with New Owners of Planet Fitness Locations in the USA. [36], The company reports that as of 2019, there are 80 corporate-owned gyms, the rest independently owned and operated. Ad Royalty Fee: $300/mo. Join PFIFC 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. Prospective owners are asked to have a minimum net worth of $3 million and a minimum of $1,500,000 in liquid capital. In addition, he served as an online media manager for the University of Nevada, Reno. 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. If you own and operate multiple Planet Fitness businesses in the same market area and LAF spending for them is combined. But perhaps most important to this process is interviewing current franchisees. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. Owning a. means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. Find other similar franchises in our catalog! [61], In January 2020, Planet Fitness partnered with The Biggest Loser to be the official sponsor of the show's 2020 reboot.[62]. 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. 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. [52], In March 2016, Planet Fitness partnered with STOMP Out Bullying,[53] a national organization dedicated to bullying prevention, and the Boys & Girls Clubs of America to launch the company's national philanthropic initiative to address bullying, The Judgement Free Generation. An innovative entrepreneur, Mr. Rondeau was honored as an EY Entrepreneur of the Year and inducted into the UNH Alumni Entrepreneur Hall of Fame. As can be seen, Planet Fitness stock has outpaced the S&P 500 by almost 2x. 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. Bringing Franchise Owners Together to Share and Grow. Franchise Description: Planet Fitness Franchising LLC is the franchisor.The ultimate parent company is Planet Fitness, Inc. Review the chart below to see how much it costs to buy a Planet Fitness franchise in 2022. In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. 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. LearningRx Franchise Corporation 5085 List Drive, #200 Colorado Springs, CO 80919 Phone: (719) 264-8808 Liz Anderson .