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. That said, as of June 2022, Planet Fitness has paused offering franchises. Prospective owners are asked to have a minimum net worth of $3 million and a minimum of $1,500,000 in liquid capital. Mr. Barber holds a B.S. 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. has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. When evaluating offers, please review the financial institutions Terms and Conditions. Planet Fitness franchisees also compete against other smaller gym and fitness business locations. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. These numbers indicate that potential earnings can vary significantly, and it depends on factors such as locations and how well the business is run. Our partners cannot pay us to guarantee favorable reviews of their products or services. This influences which products we write about and where and how the product appears on a page. 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. [35], The net worth requirement for a Planet Fitness franchise is $3,000,000, while the liquid cash requirement is $1,500,000. Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. 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. 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 chain has over a thousand locations with over 400 units outside the US. While at Dunkin Brands, he helped lead the technology team that rolled out mobile ordering across 9,000 locations. Planet Fitness has more members and locations than any other fitness brand. 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. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see the mustache commercial? Year Business Began: 1992. Even though its smaller than Pure Barre. 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. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. [48], Since December 2014, Planet Fitness has been the official fitness sponsor of Dick Clark's New Year's Rockin' Eve on ABC. The gym utilizes a "lunk alarm", which is a loud siren and rotating light that is used when a gymgoer grunts too loudly or drops weights. -In thousands and rounded; represents electronic funds presented for draft for the 12 months of calendar year 2019 and 2020, respectively. "[21] Planet Fitness has been criticized for prohibiting certain weightlifting exercisessuch as deadlifts and clean-and-jerksthat many experts believe are highly effective. 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. The Planet Fitness franchise was founded in 1992 and has been franchising since 2003. Ms. Kaplan has over 20 years of experience, most recently serving as Global Marketing Operations Advisor for Advent International, a global private equity firm. When evaluating offers, please review the financial institutions Terms and Conditions. The most popular workout model from Snap Fitness is known as MYFIT. Initial investments: $969,600 - $4,242,500 Net Worth Requirement: $3,000,000 Liquid Cash Requirement: $1,500,000 Estimated Initial Investment Please scroll down for a partial list of franchise businesses. We were opening our 5th store then. On this Wikipedia the language links are at the top of the page across from the article title. Our research and analytics team analyzed over 120 franchise concept investment breakdowns in order to calculate this figure. 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. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. Franchising began one year later, and today Orange Theory studios can be found in 18 countries, and across 49 states. 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. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. FranchiseComplaints.org 2% of the total gross monthly EFT Dues Draft. 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. Cash Required $1,500,000. This article originally appeared on JustBusiness, a subsidiary of NerdWallet. If you can name a franchise business, it's probably on our Franchise owners marketing list. As a franchise owner, youll benefit from a proven business model, brand recognition, existing customer base, vendor network, and robust franchisee support system. In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. 1),[16] and in its 2016 ranking of franchises, Forbes magazine ranked Planet Fitness No. This is a good indication of high growth as a company overall. Prior to Potbelly, he served in varying executive roles at Charming Charlie Inc. including President and Chief Financial Officer, and Chief Administrative Officer. 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. Ms. Medeiros received her Bachelors degree from the University of New Hampshire. This FREE 10-part progressive program will help you get movin'. Owning a fitness franchise is a fantastic way to enter into the multi-billion dollar fitness industry. Franchise Division including leading the operations, development and construction, vendor management and local marketing execution teams. Planet Fitness ( PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. - In currency of the United Kingdom, the investment comes around 694,900 to 3,040,600. 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. The Planet Fitness initial franchise fee is $20,000. Planet Fitness estimates the total costs to re-equip your facility with both cardio equipment and all other exercise equipment will range from $314,000 to $922,000 every 5 to 7 years. Golds Gym also requires that potential franchisees have a minimum of $1 million in net worth and $400,000 in liquid assets. [32][33], Planet Fitness started franchising units in 2003. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. However, this does not influence our evaluations. Planet Fitness offers people the opportunity to be a part of the fitness business, but we do not believe this is sustainable. Prior to Sonus, he worked for more than 10 years in public accounting with both Deloitte and Touche and Arthur Andersen. You'll build confidence while increasing your fitness knowledge. In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. New franchise owners can also expect to participate in a comprehensive training program, as the franchise requires their franchisees to be certified barre instructors. Planet Fitness franchise was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. Prior to that, he served as the Director and General Manager of internet startup Kozmo, where he was responsible for new market development and operations. 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. 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. The name came from his daughter's school project, "Fitness Planet". Disclaimer: NerdWallet strives to keep its information accurate and up to date. Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. Franchise Description: Planet Fitness Franchising LLC is the franchisor.The ultimate parent company is Planet Fitness, Inc. [54][55] Also in 2016, the company donated more than $1 million to the program. 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. 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. Their website reads, We are not currently accepting new franchisee applications for US expansion.. Therefore, this may include substantial remodeling of your premises as frequently as every 5 years. Both franchising units and company-operated stores have increased. You must maintain the franchise premises according to Planet Fitness brand standards. Additional Training: Ongoing training [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. They opened a new gym called Coastal Fitness and the Grondahls hired current CEO Chris Rondeau, who was still in college at the time, to run the gyms front desk. 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 Net Worth Requirement: $3,000,000 Burn Boot Camp There are some units of Planet fitness franchisees making more than that or some making less than that. 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 Comment. Planet Fitness competes in the Fitness market against big brand companies such as Orange Theory and Golds Gym. Across 50 states the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia The minimum net worth required to own an Orange Theory franchise is $500,000 and the applicant must have liquid assets of at least $150,000. Over the last three years, franchises have opened at a rate of 148 units a year. After a few years of growth, Planet Fitness started franchising in 2003 with the first franchised gym opened in Florida. 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. 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. in Management Information Systems from Northwood University. Initial Franchise Fee: $20,000 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. 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. Your Royalty payment is currently based on the total gross monthly and annual membership fees for the Planet Fitness business that are due and payable to you each month and annually, as applicable, by or on behalf of your members through authorized EFT withdrawals (the EFT Dues Draft), regardless of the amount of membership fees you collect. For example, this includes replacing your cardio equipment every 5 years and replacing your non-cardio equipment every 7 years. Due Date: Paid monthly and annually. Kick off your search with this list of nine of the most promising gym franchises to buy. [14] Berks later went on to open the first Youfit Health Club in St. Petersburg, Florida. 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. 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. Kathy Gentilozzi joined Planet Fitness in 2019 as the Companys Chief People Officer. 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. Even if your network of Planet Fitness franchises earns above $% a million, you will not be able to recover costs just by selling it. Today, there are Planet Fitness franchise locations around the U.S. as well as Canada and the Dominican Republic. [17], As part of their effort to create a non-intimidating environment, Planet Fitness has alienated many serious weight lifters. The total investment ranges from $728,290 to $3,777,800. According to their website, Pure Barre is the oldest and most established barre studio out there. 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. 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 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. To open a gym, a franchisee must have of $3 million with $1,500,000 in liquid assets. Franchise Sales Manager Planet Fitness 4 Liberty Lane West Hampton, NH 03842 Phone: (603) 750-0001 - In the United States, the total investment to start the Planet Fitness gym is around $969,600 to $4,242,500. 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. Please renew to keep using our services. Throughout her tenure with Planet Fitness, Ms. Simmons built the Business Strategy and Analytics functions from the ground up, leveraging data, analytics and insights to develop and drive Planet Fitness overarching corporate strategy, propel the business forward, and reinforce the brands industry leadership position. Ongoing Royalty Fee: $449 - $549/mo. 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 . In fact, in a recent Inc. 5000 list of the 10 fastest growing franchises, four were fitness franchises. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. [24] Michael Grondahl, co-founder of Planet Fitness stepped down as CEO, and was succeeded by Chris Rondeau. 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. According to Franchise Direct, the initial franchise fee is $20,000, while the area development fee is $10,000. - In Canadian currency, the investment comes around Can$ 1,231,300 to Can$ 5,387,800. Looks like your subscription is due. Estimated Number of Units: 2,300. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105. But buying into a gym franchise is a less risky venture than building a gym from the ground up. Currently, the. 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. 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. was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. They provide an affordable, high-quality fitness experience in a welcoming environment. 4. 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. 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. Prior to Dunkin, she worked at various communications agencies in both Boston and Washington, DC on behalf of various leading retail brands. We offer detailed franchise research and contact data reports. However, the profit varies on your location also. Wed recommend meeting with your bank or accountant to help you determine which franchise is financially doable for you right now. 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. Get in touch with Planet Fitness Owners from around the US with verified contact data for all owners of all Planet Fitness locations. "[20] In 2003, Planet Fitness opened its first franchised location in Florida, with Eric Dore and Shane McGuiness. The owner of the franchise (the franchisee) is expected to be involved in all aspects of day-to-day operations. The initial Planet Fitness Franchise Fee is $20,000. United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. [36], The company reports that as of 2019, there are 80 corporate-owned gyms, the rest independently owned and operated.

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