Planet Fitness franchisees also compete against other smaller gym and fitness business locations. Over the last three years, franchises have opened at a rate of 148 units a year. was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. You must be logged in to view this form. service, Computer System. 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.
Who Owns Planet Fitness? (Franchise, CEO & More) - Trusty Spotter An innovative entrepreneur, Mr. Rondeau was honored as an EY Entrepreneur of the Year and inducted into the UNH Alumni Entrepreneur Hall of Fame. Liquid Cash Requirement: $1,500,000. All initial fees are the same for both initial and conversion franchises. Fitness centers have experienced sustained growth since the post-economic crisis in 2009. Their popularity mostly comes down to their unique business model: All Anytime Fitness locations are open 24 hours a day, seven days a week, and members can access any of those 4,000+ locations no matter where they are in the world. Browse 1000s of reports on 1000s of franchise systems. - In Canadian currency, the investment comes around Can$ 1,231,300 to Can$ 5,387,800.
The Best Fitness Franchises You Can Buy - Trafft Throughout the years, Chris played a critical role in developing and refining the unique, low-cost/high-value business model and lean operating system that revolutionized both the fitness and franchising industry. Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). Planet Fitness franchise is one of the largest fitness US chains by a number of members and locations. Mr. Fitzgerald began his career at PepsiCo, where he held various leadership roles in finance and planning. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. Absentee Ownership Allowed, Planet Fitness Franchise Info: https://www.planetfitness.com. The Area Development Fee is uniform and non-refundable. Estimated total initial investment: $2,405 to $3,200. Performing this action will delete your account. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. That said, Orangetheory is designed for people of all fitness levels, since participants can go entirely at their own pace. This, too, is best evaluated with the help of an accountant or business lawyer, who can help you break down the fine print. Initial term lengths last 10 years. [34] The royalty fee for a Planet Fitness is 7% of the total gross monthly and annual membership fees. 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. "[23], In the fall of 2013, TSG Consumer Partners LLC became an equity partner in the Planet Fitness franchise. 2- Based on a midpoint investment of $3,273,300 with estimated profits of $154,587 at a 10% profit margin, it would take about 21 years to recoup your investment. 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. 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 . [47] The contestants on the show worked out on Planet Fitness equipment and then at Planet Fitness gyms near their homes, working with Planet Fitness instructors. Then, the last four workouts in the program will take place in the gym and you'll learn how . 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. [17] They also dramatically reduced prices to compete against better-known brands. You must maintain the franchise premises according to Planet Fitness brand standards. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. She is based in Santa Monica, California. 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. Today the brand has over 2,000 locations system-wide. Thanks to that near-legendary status in the fitness world, and their loyal customers.
Largest Planet Fitness Franchisee Group Acquired by New York Private This information may be different than what you see when you visit a financial institution, service provider or specific products site. Join PFIFC Former Gov.
Planet Fitness Franchise Owners Contact List 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. Paul Barber joined Planet Fitness in October 2022 as the Companys Chief Information Officer. "I decided I didn't want to deal with that crowd, so that's when I opened the original Planet Fitness club in Sunrise, Florida, in 1993." 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. There are some units of Planet fitness franchisees making more than that or some making less than that. Of the total gross monthly and annual membership fees payable to you via EFT Dues Draft. This is significantly lower than the midpoint investment of $3,273,500. Planet Fitness offers people the opportunity to be a part of the fitness business, but we do not believe this is sustainable. [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. 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. [54][55] Also in 2016, the company donated more than $1 million to the program. Prior to Jiffy Lube, he served on Shells global Downstream Acquisitions & Divestments Leadership Team with responsibility for transaction delivery across North and South America. At the moment we can not connect you to the representative of this franchise. 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. Before joining NerdWallet, he served as senior editorial manager of QuinStreet's insurance sites and managing editor of Insure.com. NerdWallet strives to keep its information accurate and up to date.
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 owner of the franchise (the franchisee) is expected to be involved in all aspects of day-to-day operations. [27], In February 2016, the franchise was added to the Franchise Times' "Fast and Serious" list of top franchises (No. 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. Call (888) 977-4374. We got you!
Planet Fitness Gym - Franchise Solutions Paid Grace Period. At that time, Michael Grondahl stepped down as CEO and Chris Rondeau took his place and has held the position since. Burn Boot Camp With this purchase, which was for an undisclosed amount, United PF's club count has . They opened a new gym called Coastal Fitness and the Grondahls hired current CEO. Planet Fitness competes in the Fitness market against big brand companies such as Orange Theory and Golds Gym. The second Toronto location opened in early 2015. 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. After you cover your startup costs, your total gross monthly take could greatly exceed your expectations, depending on how many memberships you sell. ASK QUESTIONS ABOUT THE FRANCHISE, Distributorship Opportunities For Business, the terms of
Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. Due Date: Paid monthly and annually. 8. 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. - In Indian currency, the investment comes around Rs 7,14 crores to Rs 31,23 crores. Initial term lengths last 10 years. We offer detailed franchise research and contact data reports. 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? It is reported to be the nations fastest growing fitness center franchise. 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 [13] The new model was an effort to provide a fitness hub for everyday people. In fact, in a recent Inc. 5000 list of the 10 fastest growing franchises, four were fitness franchises. Initial investments: $969,600 - $4,242,500
Pre-qualified offers are not binding. Even if your network of Planet Fitness franchises earns above $% a million, you will not be able to recover costs just by selling it. 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. Cash Required $1,500,000. 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. 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. That said, as of June 2022, Planet Fitness has paused offering franchises. When evaluating offers, please review the financial institutions Terms and Conditions. has over 8,900 franchises across the country. 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. 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. 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. Looks like your subscription is due. In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. It is important to talk to other franchisees and see what their costs were for leasehold improvements and construction. To open a gym, a franchisee must have a net worth of $3 million with a minimum of $1,500,000 in liquid assets. Verizon Wireless, and Westin, just to name a very few. Ms. Kaplan holds a B.S. 6.4 miles away from Planet Fitness.
10 Qualities of Highly Successful Fitness Franchise Owners Our partners cannot pay us to guarantee favorable reviews of their products or services. Our research and analytics team analyzed over 120 franchise concept investment breakdowns in order to calculate this figure. 1,600+ locations open and we're just getting started! Ms. Kaplan has over 20 years of experience, most recently serving as Global Marketing Operations Advisor for Advent International, a global private equity firm. 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. 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. We reviewed the larger franchise industry as well as selling price multiples for larger systems where more transaction data is available. We believe everyone should be able to make financial decisions with confidence. If you can name a franchise business, it's probably on our Franchise owners marketing list. 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. 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. In other words, franchising takes most of the heavy lifting off your shoulders. Even though its smaller than Pure Barre, The Bar Method franchise is growing quickly: In 2018, The Bar Method saw a 118% growth rate. Initial franchise fee: $32,000 to $40,000, Estimated total initial investment: $2.2 million to $5 million. 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. The difficult part of this step of the franchise buying due diligence process lies in obtaining a current list of Planet Fitness franchise owners. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. 2% of the total gross monthly EFT Dues Draft.
Planet Fitness Franchise (Costs + Fees + FDD) | Franchise Direct You are going to upgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes.
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. Here is a list of our partners. As a franchise owner, youll benefit from a proven business model, brand recognition, existing customer base, vendor network, and robust franchisee support system. 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. Call (888) . Across 50 states the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia 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. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. [36], The company reports that as of 2019, there are 80 corporate-owned gyms, the rest independently owned and operated. She has also held editing roles at LearnVest, a personal finance startup, and its parent company, Northwestern Mutual. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. 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. Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. 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. Additional Training: Ongoing training
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 addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. The Planet Fitness initial franchise fee is $20,000. The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. 1),[16] and in its 2016 ranking of franchises, Forbes magazine ranked Planet Fitness No. The initial Planet Fitness Franchise Fee is $20,000. 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 [37], The club's two membership levels are $10 and $24.99 per month in the United states[38] and in Canada they charge $15 and $25 per month. Bringing Franchise Owners Together to Share and Grow. - In currency of Germany, the investment comes around EUR 805,430 to EUR 3,524,180. 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. Its also a good idea to reach out to at least a few former Planet Fitness franchisees to find out why they left or were terminated from the franchise system. 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. | United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced.
Franchise Owners Marketing Lists - Dataman Group Direct All financial products, shopping products and services are presented without warranty. 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.
Fitness Franchisee Contact Lists - FranchiseComplaints.org You must maintain your equipment according to Planet Fitness brand standards. Rated Excellent on TrustPilot with feedback from 50+ customers. 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. Their website reads, We are not currently accepting new franchisee applications for US expansion.. You may need additional operating capital, or you may need it for a longer period of time. Classroom Training: 80 hours
Get in touch with Planet Fitness Owners from around the US with verified contact data for all owners of all Planet Fitness locations. Planet Fitness franchise was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. 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. In 2020, he joined the International Franchise Association (IFA) Board of Directors; board members are drawn from a world-class set of franchise brands. - In the United States, the total investment to start the Planet Fitness gym is around $969,600 to $4,242,500. [7] They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. in Management Information Systems from Northwood University. 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. 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. Estimated total initial investment: $1 million to $4.1 million. Disclaimer: NerdWallet strives to keep its information accurate and up to date. 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. Many or all of the products featured here are from our partners who compensate us. Franchise Sales Manager Planet Fitness 4 Liberty Lane West Hampton, NH 03842 Phone: (603) 750-0001 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. Club Pilates North Shore is a boutique Pilates studio specializing in reformer fusion classes for anyone, at any age or fitness level. Pre-qualified offers are not binding. has opened over 4,000 locations on all seven continents. Planet Fitness has more members and locations than any other fitness brand. On this Wikipedia the language links are at the top of the page across from the article title. It offers classes for dance, aqua, cycle, box, pilates, and many more. 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. 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. 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. 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.
Franchise Owners Contact Lists - FranchiseComplaints.org Prospective owners are asked to have a minimum net worth of $3 million and a minimum of $1,500,000 in liquid capital. 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. Prior to joining the Company, Mr. ODonnell most recently served as Vice President of Finance and Chief Accounting Officer at Sonus Networks. Even after the pandemic hit, it continued to grow at a rate of over 100 units. You'll build confidence while increasing your fitness knowledge. [35], The net worth requirement for a Planet Fitness franchise is $3,000,000, while the liquid cash requirement is $1,500,000. Ad Royalty Fee: $300/mo. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Kick off your search with this list of nine of the most promising gym franchises to buy.
Are fitness franchises profitable in 2022? - Glofox 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.