[46], Planet Fitness reported that it has around 2,400 gyms worldwide with a total membership of 17 million, generating an annual revenue of $936.8 million at the end of 2022. Wed recommend meeting with your bank or accountant to help you determine which franchise is financially doable for you right now. 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. The number of fitness franchise locations has been steadily increasing to a total of about 2,039. . Net Worth Requirement: $3,000,000
Planet Fitness Announces 2019 Franchise Awards Subscribe to our newsletters and keep up-to-date with the latest news in the franchise industry. In fact, in a recent Inc. 5000 list of the 10 fastest growing franchises, four were fitness franchises. At Yum! Prior to joining Planet Fitness, Mr.
Are fitness franchises profitable in 2022? - Glofox Have questions?
How Much Does A Planet Fitness Owner Make? - drfranchises.com Estimated total initial investment: $58,870 to $521,437. Fitness franchises are currently booming with the largest franchises globally being Anytime Fitness and Planet Fitness. The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. Club Pilates North Shore is a boutique Pilates studio specializing in reformer fusion classes for anyone, at any age or fitness level. - In Canadian currency, the investment comes around Can$ 1,231,300 to Can$ 5,387,800. You'll also benefit from . This document includes information about the franchises financial standing, capital requirements, franchisee training, and ongoing franchise fees, among other crucial information. Golds Gym also requires that potential franchisees have a minimum of $1 million in net worth and $400,000 in liquid assets. Call (888) 977-4374. Prior to Potbelly, he served in varying executive roles at Charming Charlie Inc. including President and Chief Financial Officer, and Chief Administrative Officer. [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. In this role, she oversees general HR operations, talent acquisition, leadership development, business partner support, culture and employee engagement, benefits and compensation. [34] The royalty fee for a Planet Fitness is 7% of the total gross monthly and annual membership fees. 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. 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. - In currency of Germany, the investment comes around EUR 805,430 to EUR 3,524,180. The franchise has since modernized their routines and worked Pilates, yoga, hip hop, kickboxing, and strength training into their classes, which they claim can burn up to 800 calories in one hour. Initial investments: $969,600 - $4,242,500 Net Worth Requirement: $3,000,000 Liquid Cash Requirement: $1,500,000 Estimated Initial Investment
Who Owns Planet Fitness? (Franchise, CEO & More) - Trusty Spotter - In currency of the United Kingdom, the investment comes around 694,900 to 3,040,600. Initial term lengths last 10 years. United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. Your experience may vary depending on whether you finance tenant improvements, your location, and other factors. [14] Berks later went on to open the first Youfit Health Club in St. Petersburg, Florida. We got you! You may need additional operating capital, or you may need it for a longer period of time. . In this role, he oversees the Companys accounting and treasury functions. In this role, he is responsible for all aspects of financial strategy and management. 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. Planet Fitness Initial franchise fee: $20,000 Estimated total initial investment: $1 million to $4.1 million Planet Fitness trademarked the phrase "judgment free zone," so that alone. Find Accurate Contact Data for Fitness Franchise Owners. 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. Planet Fitness franchisees also compete against other smaller gym and fitness business locations. 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. This investment is much higher than the industry standard of $253,000. Looks like your subscription is due. Comment. Mind that the franchise requirements for sale could be different depending on the format and scope of business.
We reviewed the larger franchise industry as well as selling price multiples for larger systems where more transaction data is available. Robert Beaupre leads the SMB team at NerdWallet. Ms. Kaplan holds a B.S. Find other similar franchises in our catalog! SVP Communications and Corporate Social Responsibility, General Counsel and SVP, International Division. 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. 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.
Franchise Owners Marketing Lists - Dataman Group Direct This metric is the standard industry investment amount for a single unit franchise investment in this industry. Mr. Barber holds a B.S. Initial franchise terms are 10 years. 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. 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. Planet Fitness franchise was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. 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?
Planet Fitness Franchise So long as you are not decided on the fitness industry, we recommend you have a look at other offerings. You are going to downgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. [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. In this role, she is responsible for all aspects of the companys internal and external communications, including public relations, crisis management, executive communications, philanthropy, community relations and sustainability. Franchise candidates can expect to pay anywhere between $354k to $1.2m. 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. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. 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. 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. [22] In 2010, Men's Health magazine called Planet Fitness "the worst gym in America. Classroom Training: 80 hours
Planet Fitness businesses are fitness training facilities offering exercise machines and free weights, fitness training services, tanning services . She received her Bachelors degree in Public Communications from American University in Washington, DC, and served on the Board of Directors for the Boys & Girls Clubs of Manchester, NH. He began working at Shell in 2001, holding broad and diverse roles including strategy, business development, project management, and deal delivery. Get in touch with Planet Fitness Owners from around the US with verified contact data for all owners of all Planet Fitness locations. Previously, she was an editor at Fundera, where she developed service-driven content on topics such as business lending, software and insurance. 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. Browse 1000s of reports on 1000s of franchise systems. [17] They also dramatically reduced prices to compete against better-known brands. [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. Join PFIFC Benson, who co-founded the former Cabletron Systems, once the . ", "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. All reactions: 8. 1- Based on a midpoint investment of $3,273,300 with estimated profits of $77,293 at a 5% profit margin it would take about 42 years to recoup your investment. [32][33], Planet Fitness started franchising units in 2003. The fitness center industry has grown with the rise in disposable income and demand for a more health-conscious lifestyle among millennials. As a franchise owner, youll benefit from a proven business model, brand recognition, existing customer base, vendor network, and robust franchisee support system. The graph below and the table that accompanies it depicts the total return to shareholders between 2015 and 2021 on Planet Fitness class A common stock relative to the performance of the S&P 500 Index and the Russell 2000. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. You have to pay this upfront fee when opening a Planet Fitness franchise. Franchising began one year later, and today Orange Theory studios can be found in 18 countries, and across 49 states.
PF Independent Franchisee Council [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. 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. According to their website, Pure Barre is the oldest and most established barre studio out there. We believe everyone should be able to make financial decisions with confidence.
Franchise Owners Contact Lists - FranchiseComplaints.org 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. [27], In February 2016, the franchise was added to the Franchise Times' "Fast and Serious" list of top franchises (No. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. 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. Lead Assigning Editor | Small business finances, investing, banking. 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.
Fitness Franchisee Contact Lists - FranchiseComplaints.org With this purchase, which was for an undisclosed amount, United PF's club count has . [41][42] In October 2015 the company opened their second international location in Santo Domingo, Dominican Republic. In 2020, he joined the International Franchise Association (IFA) Board of Directors; board members are drawn from a world-class set of franchise brands. This, too, is best evaluated with the help of an accountant or business lawyer, who can help you break down the fine print. - In Saudi Arabia currency, the investment comes around SR 3,64 million to SR 15,91 million.
Largest Planet Fitness Franchisee Group Acquired by New York Private We offer the most complete and most accurate mailing/telemarketing list for Planet Fitness franchise owners. [19] According to a Planet Money episode from 2014, "half of the Planet Fitness members don't ever go to their gyms. This is a good indication of high growth as a company overall. - In Indian currency, the investment comes around Rs 7,14 crores to Rs 31,23 crores.
Planet Fitness Gym - Franchise Solutions There are some units of Planet fitness franchisees making more than that or some making less than that. Brian ODonnell joined Planet Fitness in February 2016 and currently serves as VP, Chief Accounting Officer. Franchise. | United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. 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. Pure Barre has over 500 open locations across North America with tons of available studio markets in the U.S. An individual planet fitness franchise owner can make around $513,00 to $5,554,000 annually. Owning a fitness franchise is a fantastic way to enter into the multi-billion dollar fitness industry. In her role as Chief Brand Officer, she is responsible for leading Planet Fitness brand strategy and working collaboratively with agencies and across the organization to ensure the brand vision comes to life through national and local marketing strategy, creative, brand marketing sponsorships and activations, and social media. These figures are estimates based on Planet Fitness and its affiliates experience in operating locations. [16] Planet Fitness became known as the "Judgement Free Zone", aimed more at the average user than the bodybuilder type of fitness enthusiast. So how do we make money? 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.
History of Planet Fitness in Timeline - Popular Timelines ? The name came from his daughter's school project, "Fitness Planet". 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. Previously, Mr. Fitzgerald served as Chief Administrative Officer of Sears Canada. This large discrepancy indicates the potential different costs you could face when building your Orange Theory franchise as a franchisee. Initial franchise fee: $30,000 to $50,000, Estimated total initial investment: $100,000 to $2 million. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. Cash Required $1,500,000. Sorry. locations around the U.S. as well as Canada and the Dominican Republic. With that said, a Planet Fitness franchise . McCall Gosselin joined Planet Fitness in January 2013 and currently serves as SVP of Communications and Corporate Social Responsibility. Pure to Joseph Pilates' original Reformer-based Contrology Method, but modernized with group read more.
Planet Fitness - Wikipedia Prior to Sonus, he worked for more than 10 years in public accounting with both Deloitte and Touche and Arthur Andersen. 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 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. 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. 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. Franchise fee: one-time $10,000 for a 10-year renewable agreement. It offers classes for dance, aqua, cycle, box, pilates, and many more. New franchise owners can also expect to participate in a comprehensive training program, as the franchise requires their franchisees to be certified barre instructors.
Start a Planet Fitness Franchise in 2023 - Entrepreneur 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. Planet Fitness franchise is growing, and it is growing fast. The estimated total investment necessary to begin the operation of a Planet Fitness Franchise ranges from $1,625,600 $4,921,000. 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 estimates the costs to upgrade and/or remodel your facility will range from $70,000 to $600,000 every 5 years. Orange Theory was ranked 49th in the franchise 500 rankings according to entrepreneur.com. The owner of the franchise (the franchisee) is expected to be involved in all aspects of day-to-day operations. 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. Prior to that, Ms. Gentilozzi served as Senior Vice President of Human Resources at Aropostale, supporting over 25,000 employees in 1,000 retail locations throughout the U.S., Canada, and Puerto Rico. [35], The net worth requirement for a Planet Fitness franchise is $3,000,000, while the liquid cash requirement is $1,500,000.
Planet Fitness Franchise Cost & Fees | How To Open | Opportunities And Plus, that smaller pool of franchisees means each one receives more personalized support from the company. Performing this action will delete your account. Franchising Since: 2000. The initial Planet Fitness Franchise Fee is $20,000. Orangetheory Fitness provides a totally unique (and seriously hard) group workout experience. [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. 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. Before the pandemic, it was growing at a rate of approximately 200 units a year, which is impressive. Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). 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. 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. Previously, she served as Head of Marketing and Sales for Zipcar, the worlds leading car-sharing network, where she was a key member of the executive leadership team responsible for demand and revenue generation and all marketing functions. Ongoing Royalty Fee: $449 - $549/mo. 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.