Planet Fitness Franchise (Costs + Fees + FDD) | Franchise Direct Upon your submission of your Construction Development Plans for our approval, Point of Sale Support, Processing and Account Management Services Fees, $149-$199 plus processing and credit card fees based on the number of transactions processed per month or number of eligible accounts enrolled in collections. Ms. Simmons has an MBA in Finance from the University of New Hampshire and holds dual Bachelors degrees in Economics and Sociology from Indiana University. Christine Aebischer is an assistant assigning editor on the small-business team at NerdWallet who has covered business and personal finance for nearly a decade. has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. Earlier in her career, Ms. Kaplan held several digital and marketing leadership roles at global brands including American Express and Citi, Inc. She serves as an independent member of the Fiesta Restaurant Group Board of Directors, as well as the Massachusetts Innovation & Technology Exchange (MITX). 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. 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. Currently, the. The Grondahls changed the gyms name to Planet Fitness in 1994. Youre about to cancel your subscription. 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. An innovative entrepreneur, Mr. Rondeau was honored as an EY Entrepreneur of the Year and inducted into the UNH Alumni Entrepreneur Hall of Fame. Additionally, he held several leadership positions at Liz Claiborne, was Chief Financial Officer at Burlington Coat Factory, and served as Chief Operating Officer of Bath & Body Works. 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 Cost & Fees | How To Open | Opportunities And [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. Your actual costs may be higher or lower depending on the size and location of your Planet Fitness business. Bode was also responsible for U.S brand compliance and business development along with leadership positions overseeing training, store development, marketing, and franchising. 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. Owning a fitness franchise is a fantastic way to enter into the multi-billion dollar fitness industry. 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. However, this ultra-famous franchise is the most expensive on this list, with an estimated upfront investment potentially reaching over $5 million. FranchiseComplaints.org Building in competition to workouts enhances ones motivation and keeps consumers coming back. 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. 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. This routine is an 18-minute HIIT workout that targets cardio and endurance. You'll build confidence while increasing your fitness knowledge. in Pilates. Start a Planet Fitness Franchise in 2023 - Entrepreneur 10 Qualities of Highly Successful Fitness Franchise Owners Franchising | Planet Fitness Fitness Franchisee Contact Lists - FranchiseComplaints.org [35], The net worth requirement for a Planet Fitness franchise is $3,000,000, while the liquid cash requirement is $1,500,000. In this role, he leads all aspects of our U.S. 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. In this role, he is responsible for all aspects of financial strategy and management. Planet Fitness competes in the Fitness market against big brand companies such as Orange Theory and Golds Gym. Pre-qualified offers are not binding. Planet Fitness Announces Winners of Annual Franchisee Awards - PR Newswire Planet Fitness Gym - Franchise Solutions 1,600+ locations open and we're just getting started! Their website reads, We are not currently accepting new franchisee applications for US expansion.. And with an incredibly low initial franchise fee and upfront investment, Jazzercise is one of the best low-cost franchises youll find, especially within the health and fitness industry. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. Ms. Kaplan holds a B.S. Here is a list of our partners and here's how we make money. Planet Fitness Franchise Owners' Salary Your gross monthly take is based on your memberships, which range from $10 to $25 per month for the franchise. 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. 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. [13] The new model was an effort to provide a fitness hub for everyday people. 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). Prior to that he served as the Chief Operating Officer since 2003. 9 Best Gym Franchises - NerdWallet Please confirm by clicking on the Cancel Subscriptionbutton below. Planet Fitness Franchise Owners Contact List [47], In March 2013, Planet Fitness partnered with 50 Cent to sell his energy drink "Street King". 2% of the total gross monthly EFT Dues Draft. 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. [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. According to their website, Pure Barre is the oldest and most established barre studio out there. 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. Throughout his tenure at Dunkin Brands, Mr. [43], With the addition of a Planet Fitness outlet in Hawaii in January 2018,[44] Planet Fitness had 1,500 locations with an estimated 10 million members across 50 states, the District of Columbia, the Dominican Republic, Mexico, and Panama[45] and Canada. Mind that the franchise requirements for sale could be different depending on the format and scope of business. 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. Wed recommend meeting with your bank or accountant to help you determine which franchise is financially doable for you right now. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. This, too, is best evaluated with the help of an accountant or business lawyer, who can help you break down the fine print. [7] They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. From there, youll receive additional materials to help inform your decision, including the all-important franchise agreement, including the franchise disclosure document (FDD). Based on a midpoint investment of $1,378,500 with estimated profits of $94,820 (10% profit margin) it would take about 15 years to recoup your investment. Corporate Governance - Management Team - Planet Fitness For example, this includes replacing your cardio equipment every 5 years and replacing your non-cardio equipment every 7 years. Owner WIRED Telcom 159 W 1st Street Oswego, NY 13126 Phone: (315) 326-3350 . He held multiple store operations positions with P&L responsibility progressing from Store Manager to Regional Manager. There are very few reasons why one might want to open a Planet Fitness franchise. The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. "[23], In the fall of 2013, TSG Consumer Partners LLC became an equity partner in the Planet Fitness franchise. This influences which products we write about and where and how the product appears on a page. Before the pandemic, it was growing at a rate of approximately 200 units a year, which is impressive. 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. The fitness center industry has grown with the rise in disposable income and demand for a more health-conscious lifestyle among millennials. 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. Jennifer Simmons joined Planet Fitness in 2013 as a business analyst, later joining the executive leadership team as Senior Vice President of Business Strategy and Analytics and in 2022 was named Division President, Corporate Clubs. History of Planet Fitness in Timeline - Popular Timelines Find other similar franchises in our catalog! Prior to joining Planet Fitness, Mr. Vartanian was a corporate attorney at Devine Millimet. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. This could be an indicator that franchisees are doing really well. The Judgement Free Zone was started to help first-time gym users feel more comfortable starting their fitness journey. United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. 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 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. Please renew to keep using our services. Mr. ODonnell has nearly 20 years of experience in a variety of finance and accounting roles. He joined Planet Fitness in 2016 as the Senior Vice President of Franchise Operations. 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. 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 covers the cost of being able to use their name and logo. If you are thinking about how to open a Planet Fitness franchise, begin with a franchise investment information. [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. The Planet Fitness franchise sets itself apart from other gyms by being the "Judgement Free Zone" where everyone can feel comfo. [54][55] Also in 2016, the company donated more than $1 million to the program. We offer detailed franchise research and contact data reports. Then, the last four workouts in the program will take place in the gym and you'll learn how . 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 Yum! Orange Theory Franchise was founded in Boca Raton, Florida in 2009. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. If you own and operate multiple Planet Fitness businesses in the same market area and LAF spending for them is combined. Golds Gym also requires that potential franchisees have a minimum of $1 million in net worth and $400,000 in liquid assets. * 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. Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. 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. On this Wikipedia the language links are at the top of the page across from the article title. 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. Get in touch with Planet Fitness Owners from around the US with verified contact data for all owners of all Planet Fitness locations. This is a good indication of high growth as a company overall. Ms. Medeiros received her Bachelors degree from the University of New Hampshire. When evaluating offers, please review the financial institutions Terms and Conditions. [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. 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. Share. All initial fees are the same for both initial and conversion franchises. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. Estimated total initial investment: $1 million to $4.1 million. 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. Orange Theory uses your heart rate to show your exertion potential compared to the maximal effort and compares you to your peers in classes. Call us direct at (855) 822-0912, Get Contact Details & Mailing List of Planet Fitness Franchisees, The difficult part of this step of the franchise buying due diligence.