planet fitness franchise owners list

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. Paul Barber joined Planet Fitness in October 2022 as the Companys Chief Information Officer. But perhaps most important to this process is interviewing current franchisees. 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. Ms. Kaplan has over 20 years of experience, most recently serving as Global Marketing Operations Advisor for Advent International, a global private equity firm. Please confirm by clicking on the Cancel Subscriptionbutton below. Lead Assigning Editor | Small business finances, investing, banking. He began working at Shell in 2001, holding broad and diverse roles including strategy, business development, project management, and deal delivery. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. Planet Fitness Franchise (Costs + Fees + FDD) | Franchise Direct Largest Planet Fitness Franchisee Acquires 19 Planet Fitness Clubs in Franchising | Planet Fitness Except for signage, Planet Fitness will not require substantial remodeling more often than every 5 years during the term of the Franchise Agreement. FranchiseComplaints.org According to Franchise Direct, the initial franchise fee is $20,000, while the area development fee is $10,000. 4 Liberty Ln. Additional Training: Ongoing training Prior to joining Planet Fitness, Mr. 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. 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. Classroom Training: 80 hours She also served as Senior Vice President of Human Resources at Macys Inc., and has held various leadership positions at The May Department Store Company, including corporate and division roles. In addition, he served as an online media manager for the University of Nevada, Reno. All financial products, shopping products and services are presented without warranty. 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. ", "2017 Top Franchises from Entrepreneur's Franchise 500 List", "Planet Fitness members outraged over March bill amid coronavirus closures", "Planet Fitness CEO says gym visits are holding up against the omicron variant", "Planet Fitness Seeing Minimal Impact So Far From Omicron", "Planet Fitness Franchise (Costs + Fees + FDD)", "Planet Fitness Franchise Costs & Fees, Planet Fitness FDD & Franchise Information | FranchiseDirect.com", "Planet Fitness Franchise Cost & Fees | How To Open | Opportunities And Investment Information", "Planet Fitness Prices & Membership Cost", "17 January Gym Discounts That Are Too Cheap to Pass Up", "Planet Fitness is raising the price of its Black Card membership but still offers a $10 option", "American gym powerhouse chooses Brampton for first suburban Canadian location", "Cheap 'n' cheerful chinups: Canada welcomes Planet Fitness, the $10 gym for those bad at gym", "Planet Fitness Continues International Expansion in Dominican Republic", "Planet Fitness opens first Hawaii location at Ala Moana Center", "10 Million Reasons to Get Pumped About Planet Fitness", "Planet Fitness to Sponsor 'The Biggest Loser', "50 Cent and Joan Rivers Kick It At The Gym [PHOTOS]", "Planet Fitness To Launch New Global Campaign On New Year's Eve", "Planet Fitness sponsors New Year's Eve celebration despite pandemic", "David Gilliland Racing Fielding Fourth Entry for Joey Logano in Bristol Dirt Race", "The Judgement Free Zone: Judgement Free Generation Video Contest", "Planet Fitness Opens In Fremont, Donates $1K To Boys & Girls Club", "Planet Fitness 'Judgment Free Zones' a Model of Inclusion", "Planet Fitness Anti-Bullying Initiative $1M Success", "Planet Fitness debuts fitness room for kids at Boys and Girls Club in Manchester", "Planet Fitness Opens Judgement Free Gym at Pasadena Boys and Girls Club", "Planet Fitness raises $1M for Boys and Girls Clubs of America", "Planet Fitness named national gym sponsor of 'The Biggest Loser', https://en.wikipedia.org/w/index.php?title=Planet_Fitness&oldid=1142494313, Companies based in Rockingham County, New Hampshire, Companies listed on the New York Stock Exchange, Health care companies established in 1992, Medical and health organizations based in New Hampshire, Short description is different from Wikidata, All Wikipedia articles written in American English, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 2 March 2023, at 18:29. Across 50 states the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia 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. 9 Best Gym Franchises - NerdWallet Both of these fitness companies, while they differ in business models, use your own fitness data and others to create a competitive atmosphere. 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. How Much Does A Planet Fitness Owner Make? - drfranchises.com 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. Even more reason to consider investing in a gym franchise? They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. You'll build confidence while increasing your fitness knowledge. Mr. Fitzgerald began his career at PepsiCo, where he held various leadership roles in finance and planning. If you are thinking about how to open a Planet Fitness franchise, begin with a franchise investment information. Former Gov. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. Find other similar franchises in our catalog! 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 . Absentee Ownership Allowed, Planet Fitness Franchise Info: https://www.planetfitness.com. 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. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. Planet Fitness Franchise Cost and Requirements for 2023 - IFPG As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. [28] It ranked in the top 50 of Entrepreneur magazine's Franchise 500 in 2017. All reactions: 8. The owner of the franchise (the franchisee) is expected to be involved in all aspects of day-to-day operations. 8. 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. 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. 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. 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. The highest Planet Fitness franchise made over 3 million dollars in revenue, whereas the lowest earning one made $165,000. PF Independent Franchisee Council 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). 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. According to their website, Pure Barre is the oldest and most established barre studio out there. [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. At Jiffy Lube, he oversaw the strategic direction of the company, and managed franchise relationships to create a shared vision for the brand, drive network growth, and maintain Jiffy Lubes leading market share. Investing in an Orange Theory franchise is an interesting opportunity, especially for individuals looking to make their way into the Fitness industry. 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. These figures are estimates based on Planet Fitness and its affiliates experience in operating locations. Owning a. means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. So long as you are not decided on the fitness industry, we recommend you have a look at other offerings. Liquid Cash Requirement: $1,500,000. The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. It is reported to be the nations fastest growing fitness center franchise. Franchising began one year later, and today Orange Theory studios can be found in 18 countries, and across 49 states. Paid Grace Period. The Best Fitness Franchises You Can Buy - Trafft Planet Fitness Independent Franchisee Council Join Us Today! Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. Planet Fitness Franchise Owners Contact List $ 149 Verified List of Planet Fitness Owners Contact Data We offer the most complete and most accurate mailing/telemarketing list for Planet Fitness franchise owners. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer Access|Licenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812, Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc. (CA resident license no. Fitness Franchisee Contact Lists - FranchiseComplaints.org If you are an individual with a passion for fitness and are willing to invest an amount ranging from $657,542 $2,105,322 or more, Orange Theory might be the right fit for you. This model has become extremely sticky in the fitness industry because while many people want to achieve their fitness goals, they innately lack motivation. Find Accurate Contact Data for Fitness Franchise Owners. There are very few reasons why one might want to open a Planet Fitness franchise. The estimated total investment necessary to begin the operation of a Planet Fitness Franchise ranges from $1,625,600 $4,921,000. Ms. Kaplan holds a B.S. The policy states that "members and guests may use all gym facilities based on their sincere self-reported gender identity. Planet Fitness is a profitable business for the franchisor, with retained earnings of $210 million in 2021. Total Investment $728,290 - $3,777,800. 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. Planet Fitness Franchise Cost Worth the Profit? - Vetted Biz Planet Fitness has more members and locations than any other fitness brand. Planet Fitness offers people the opportunity to be a part of the fitness business, but we do not believe this is sustainable. Although gym franchises require that the owner has previous management experience, most dont require experience in the. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. One of the best ways to thoroughly research a franchise or business opportunity investment before purchasing one is to get feedback from current and former franchisees involved in the franchise system. 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. Owner WIRED Telcom 159 W 1st Street Oswego, NY 13126 Phone: (315) 326-3350 . At Yum! - In currency of the United Kingdom, the investment comes around 694,900 to 3,040,600. subject to maximum fee of $40,000, Concurrently with our granting a successor franchise to you, Actual costs (approximately $1,200 per visit), Cure Period Extension Fee (Franchise Agreement), Paid monthly via EFT on the day designated as your Monthly Membership Billing Day, as defined in our Franchise Agreement, Grace Period Fee (Area Development Agreement), Paid monthly beginning on the first day of the As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. This large discrepancy indicates the potential different costs you could face when building your Orange Theory franchise as a franchisee. has over 8,900 franchises across the country. [6], In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. 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. While at Dunkin Brands, he helped lead the technology team that rolled out mobile ordering across 9,000 locations. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. Burn Boot Camp ? Follow along as PF Trainer Teddy teaches you the basics of fitness, right in the comfort of your own home. You must maintain the franchise premises according to Planet Fitness brand standards. Ms. Medeiros received her Bachelors degree from the University of New Hampshire. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. 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. All told, their gyms boast over 14 million members worldwide. Previously, Mr. Fitzgerald served as Chief Administrative Officer of Sears Canada. 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. He also currently serves on the Board of Directors of the NH/VT/ME Region of the American Red Cross and the Business & Industry Association of New Hampshire. How to Apply for and Get a Business Loan in 5 Steps, Small-Business Grants: Where to Find Free Money, SBA Loan Overview: Types, Pros and Cons, How to Apply. The Planet Fitness franchise was founded in 1992 and has been franchising since 2003. 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. ASK QUESTIONS ABOUT THE FRANCHISE, Distributorship Opportunities For Business, the terms of 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. The Planet Fitness initial franchise fee is $20,000. We believe everyone should be able to make financial decisions with confidence. 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. Franchising Since: 2000. The most popular workout model from Snap Fitness is known as MYFIT. [5] It markets itself as a "Judgement Free Zone" that caters to novice and casual gym users, and has faced both praise and criticism for its atmosphere. Participants are given heart-rate monitors, and their results are displayed on screens throughout the room over the course of this hour-long, interval-based, coach-led workout. Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. Planet Fitness, Inc. to Acquire 114 Locations From One of Its Top Our research and analytics team analyzed over 120 franchise concept investment breakdowns in order to calculate this figure. Compared to $145 million in 2020, they saw an increase of 44% from 2020 to 2021. 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. If you acquire rights under our Area Development program, you will pay an Area Development Fee equal to $10,000 per location to be developed under the Area Development Agreement when you sign the Area Development Agreement. PLANET FITNESS - 57 Photos & 19 Reviews - Yelp Planet Fitness businesses are fitness training facilities offering exercise machines and free weights, fitness training services, tanning services . The number of fitness franchise locations has been steadily increasing to a total of about 2,039. . 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. 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. 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. If a fitness business with a franchise sounds good, heres nine of the most promising options for a gym franchise. 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. [7] They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau.