planet fitness franchise owners list

8. 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. This information may be different than what you see when you visit a financial institution, service provider or specific products site. [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. Ms. Gentilozzi is a certified Senior Professional in Human Resources (SPHR). 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. With this purchase, which was for an undisclosed amount, United PF's club count has . is growing quickly: In 2018, The Bar Method saw a 118% growth rate. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. [14] Berks later went on to open the first Youfit Health Club in St. Petersburg, Florida. Planet Fitness franchise was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. Thanks to that near-legendary status in the fitness world, and their loyal customers. 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. Prior to joining the Company, Mr. ODonnell most recently served as Vice President of Finance and Chief Accounting Officer at Sonus Networks. When evaluating offers, please review the financial institutions Terms and Conditions. At Yum! Do not sell or share my personal information. 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. [32][33], Planet Fitness started franchising units in 2003. However, the profit varies on your location also. 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? After a few years of growth, Planet Fitness started franchising in 2003 with the first franchised gym opened in Florida. Owning a fitness franchise is a fantastic way to enter into the multi-billion dollar fitness industry. 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. Planet Fitness franchise opportunities are proven by 1,500 clubs successfully operating worldwide. From the start, Planet Fitnesswas an inclusive, non-intimidating gym and in 1997, Planet Fitness officially unveiled its Judgement Free Zone philosophy. [22] In 2010, Men's Health magazine called Planet Fitness "the worst gym in America. 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. This influences which products we write about and where and how the product appears on a page. Prior to Planet Fitness, Ms. Gosselin worked at Dunkin Brands on the global public relations team. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. 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. Today, there are Planet Fitness franchise locations around the U.S. as well as Canada and the Dominican Republic. Compared to $145 million in 2020, they saw an increase of 44% from 2020 to 2021. Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. You may need additional operating capital, or you may need it for a longer period of time. Estimated total initial investment: $1 million to $4.1 million. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. The Grondahls had acquired a struggling Golds Gym franchise and closed it 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. Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. Club Pilates North Shore is a boutique Pilates studio specializing in reformer fusion classes for anyone, at any age or fitness level. You'll build confidence while increasing your fitness knowledge. She has also held editing roles at LearnVest, a personal finance startup, and its parent company, Northwestern Mutual. . 4. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. Now, youd be hard-pressed to find a gym franchise that doesnt offer some form of barre class, but owning a Pure Barre franchise takes you straight to the source. Although gym franchises require that the owner has previous management experience, most dont require experience in the. The total investment to open a Planet Fitness gym ranges from $728,290 - $3,777,800. 2% of the total gross monthly EFT Dues Draft. To open a gym, a franchisee must have of $3 million with $1,500,000 in liquid assets. An individual planet fitness franchise owner can make around $513,00 to $5,554,000 annually. | United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. Additional Training: Ongoing training Paul Barber joined Planet Fitness in October 2022 as the Companys Chief Information Officer. Mr. ODonnell holds a CPA and received his Bachelors degree in Accounting from Assumption College in Massachusetts. Initial franchise terms are 10 years. 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. 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. Robert Beaupre leads the SMB team at NerdWallet. Initial term lengths last 10 years. Cash Required $1,500,000. 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. Here is a list of our partners. 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). Bode was also responsible for U.S brand compliance and business development along with leadership positions overseeing training, store development, marketing, and franchising. Join PFIFC 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. 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. Lead Assigning Editor | Small business finances, investing, banking. 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. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. Initial franchise fee: $32,000 to $40,000, Estimated total initial investment: $2.2 million to $5 million. Subscribe to our newsletters and keep up-to-date with the latest news in the franchise industry. Orange Theorys success is quite similar to Pelotons rise to fame. The most popular workout model from Snap Fitness is known as MYFIT. 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. 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. At that time, Michael Grondahl stepped down as CEO and Chris Rondeau took his place and has held the position since. Mr. ODonnell has nearly 20 years of experience in a variety of finance and accounting roles. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. Planet Fitness competes in the Fitness market against big brand companies such as Orange Theory and Golds Gym. McCall Gosselin joined Planet Fitness in January 2013 and currently serves as SVP of Communications and Corporate Social Responsibility. 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. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. List to Contact Planet Fitness Franchise Owners - Planet Fitness Owners Contact List. Golds Gym also requires that potential franchisees have a minimum of $1 million in net worth and $400,000 in liquid assets. Our partners cannot pay us to guarantee favorable reviews of their products or services. The Area Development Fee is uniform and non-refundable. Currently, Golds Gym franchise has available markets in almost every state across the country, and select international opportunities. LearningRx Franchise Corporation 5085 List Drive, #200 Colorado Springs, CO 80919 Phone: (719) 264-8808 Liz Anderson . Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. As a franchise owner, youll benefit from a proven business model, brand recognition, existing customer base, vendor network, and robust franchisee support system. Today the brand has over 2,000 locations system-wide. Franchise. In this role, he is responsible for all aspects of financial strategy and management. Our opinions are our own. In this role, he leads all aspects of our U.S. 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. The initial Planet Fitness Franchise Fee is $20,000. To open a gym, a franchisee must have a net worth of $3 million with a minimum of $1,500,000 in liquid assets. "[21] Planet Fitness has been criticized for prohibiting certain weightlifting exercisessuch as deadlifts and clean-and-jerksthat many experts believe are highly effective. 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. [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. 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. Your experience may vary depending on whether you finance tenant improvements, your location, and other factors. Kick off your search with this list of nine of the most promising gym franchises to buy. The more franchises you own, the more earning potential you have as private equity firms become interested in your business instead of individual owner-operators. 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. Even if your network of Planet Fitness franchises earns above $% a million, you will not be able to recover costs just by selling it. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. Fitness franchises are currently booming with the largest franchises globally being Anytime Fitness and Planet Fitness. Franchise fee: one-time $10,000 for a 10-year renewable agreement. 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. Planet Fitness offers people the opportunity to be a part of the fitness business, but we do not believe this is sustainable. Building in competition to workouts enhances ones motivation and keeps consumers coming back. 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. We believe everyone should be able to make financial decisions with confidence. 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. Many or all of the products featured here are from our partners who compensate us. Ms. Gosselin was named a Top Woman in PR by PR News in 2020. Orange Theory was ranked 49th in the franchise 500 rankings according to entrepreneur.com. The following costs are part of the upfront costs included in the initial investment for Planet Fitness locations. 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. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. Now, youd be hard-pressed to find a gym franchise that doesnt offer some form of barre class, but owning a. takes you straight to the source. Edward Hymes joined Planet Fitness in January 2023 as President and Chief Operating Officer. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. 4 Liberty Ln. 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. 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 . Across 50 states the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia 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. 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. Orange Theory Franchise was founded in Boca Raton, Florida in 2009. West Hampton, NH 03842, USA, Interested? 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. Comment. Mr. Rondeau also received an honorary doctorate degree from Philadelphia University and received the Universitys honorary innovation medal. 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. The initial Planet Fitness Franchise Fee is $20,000. Prior to joining Planet Fitness, Ms. Simmons worked in Finance and Business Planning roles for Timberland, PepsiCo, and Fisher Scientific International. With that said, a Planet Fitness franchise . 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). All initial fees are the same for both initial and conversion franchises. Brian ODonnell joined Planet Fitness in February 2016 and currently serves as VP, Chief Accounting Officer. The Judgement Free Zone was started to help first-time gym users feel more comfortable starting their fitness journey. 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. But perhaps most important to this process is interviewing current franchisees. [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. Owner WIRED Telcom 159 W 1st Street Oswego, NY 13126 Phone: (315) 326-3350 . 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. While at Dunkin Brands, he helped lead the technology team that rolled out mobile ordering across 9,000 locations. [41][42] In October 2015 the company opened their second international location in Santo Domingo, Dominican Republic. 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. 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. Then, you will be in compliance with the LAF requirement if you spend an amount that satisfies the LAF obligations for all the Planet Fitness businesses in the aggregate. "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." 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. 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. Ms. Kaplan has over 20 years of experience, most recently serving as Global Marketing Operations Advisor for Advent International, a global private equity firm. https://www.palmbeachpost.com/story/business/2012/05/19/at-youfit-health-clubs-patrons/7332606007/, "Planet Fitness headquarters moving to Hampton", "Planet Fitness Sets New Membership Records", "4 international franchises that landed Down Under in 2019", "The fastest-growing gym in America has $10 memberships and gives out free pizza, bagels, and candy", "Fit for franchising: From first gym in Dover, Planet Fitness building big brand", https://www.franchise-info.ca/franchise_news/2014/01/how-planet-fitness-became-the-leader-in-fitness-franchising.html#.Y-Hc-BZMEWM, "How Planet Fitness Became the Leader in Fitness Franchising - News", "Marc Grondahl of Planet Fitness: How a Lean Business Model Became a Franchise Heavyweight", "YouFit Health Club expanding across South Florida, around nation | The Starting Gate", "No-frills gym offers fitness without flash", "Fast and Serious: FT ranks the smartest-growing brands", "Franchise Players: We Were Planet Fitness's First Franchisees. Lets get started. Ad Royalty Fee: $300/mo. This metric is the standard industry investment amount for a single unit franchise investment in this industry. For example, this includes replacing your cardio equipment every 5 years and replacing your non-cardio equipment every 7 years. All reactions: 8. Prior to that he served as the Chief Operating Officer since 2003. 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

New Restaurants Coming To Overland Park, Fulton Funeral Home Yanceyville, Nc Obituaries, Is It Sunnah To Kiss Your Wife On Forehead, Articles P