Throughout his tenure at Dunkin Brands, Mr. 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. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. He held multiple store operations positions with P&L responsibility progressing from Store Manager to Regional Manager. Prior to Sonus, he worked for more than 10 years in public accounting with both Deloitte and Touche and Arthur Andersen. [17] They also dramatically reduced prices to compete against better-known brands. Additional Training: Ongoing training Planet Fitness franchise was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. There are some units of Planet fitness franchisees making more than that or some making less than that. 4. 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 Please renew to keep using our services. Ongoing Royalty Fee: $449 - $549/mo. You'll build confidence while increasing your fitness knowledge. 2% of the total gross monthly EFT Dues Draft. - In Indian currency, the investment comes around Rs 7,14 crores to Rs 31,23 crores. We also suggest that you speak to 3 5 Planet Fitness owners before opening one yourself. Our partners cannot pay us to guarantee favorable reviews of their products or services. This is significantly lower than the midpoint investment of $3,273,500. from Boston University and an M.B.A. from the University of Denver, Daniels College of Business. Call (888) . These numbers indicate that potential earnings can vary significantly, and it depends on factors such as locations and how well the business is run. Across 50 states the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia 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. 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. 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. Share. The second Toronto location opened in early 2015. Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing gym franchises in the United States. This covers the cost of being able to use their name and logo. All initial fees are the same for both initial and conversion franchises. 1),[16] and in its 2016 ranking of franchises, Forbes magazine ranked Planet Fitness No. Currently, the. It offers classes for dance, aqua, cycle, box, pilates, and many more. Pre-qualified offers are not binding. [39][29][40], In December 2014, Planet Fitness opened its first international location in Toronto, Ontario, Canada. The chain has over a thousand locations with over 400 units outside the US. Absentee Ownership Allowed, Planet Fitness Franchise Info: https://www.planetfitness.com. Crunch isnt quite as widespread as Planet Fitnesscurrently, they have 300+ open locations in 29 states and five countriesbut with plans to open an additional 1,000+ locations, theyre growing quickly. Planet Fitness franchise is growing, and it is growing fast. 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. 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 addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. 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. 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. United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. In this role, he oversees the Companys accounting and treasury functions. The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. Mr. Fitzgerald began his career at PepsiCo, where he held various leadership roles in finance and planning. 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. Previously, she was an editor at Fundera, where she developed service-driven content on topics such as business lending, software and insurance. Please confirm by clicking on the Cancel Subscriptionbutton below. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. Kathy Gentilozzi joined Planet Fitness in 2019 as the Companys Chief People Officer. 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. This FREE 10-part progressive program will help you get movin'. [49] [50], Since 2015, Planet Fitness has been a personal sponsor of NASCAR driver and champion Joey Logano. From the start, Planet Fitnesswas an inclusive, non-intimidating gym and in 1997, Planet Fitness officially unveiled its Judgement Free Zone philosophy. "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." Even though its smaller than Pure Barre, The Bar Method franchise is growing quickly: In 2018, The Bar Method saw a 118% growth rate. McCall Gosselin joined Planet Fitness in January 2013 and currently serves as SVP of Communications and Corporate Social Responsibility. [16] Planet Fitness became known as the "Judgement Free Zone", aimed more at the average user than the bodybuilder type of fitness enthusiast. [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. Classroom Training: 80 hours [13] The new model was an effort to provide a fitness hub for everyday people. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. 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. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. We now have: 2,400+ locations open (and we're just getting started!) 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. Estimated total initial investment: $2,405 to $3,200. 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. As can be seen, Planet Fitness stock has outpaced the S&P 500 by almost 2x. - In Malaysian currency, the investment comes around MYR 3,93 million to MYR 17,21 million. 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. ", "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. Then, the last four workouts in the program will take place in the gym and you'll learn how . 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. in Management Information Systems from Northwood University. 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 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. Ms. Kaplan holds a B.S. 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 The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. 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. Of the total gross monthly and annual membership fees payable to you via EFT Dues Draft. [44][37] In 2016, over 90% of Planet Fitness locations were opened by existing franchise owners. Previously, Mr. Fitzgerald served as Chief Administrative Officer of Sears Canada. Today the brand has over 2,000 locations system-wide. Call (888) 977-4374. Wed recommend meeting with your bank or accountant to help you determine which franchise is financially doable for you right now. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. Except for signage, Planet Fitness will not require substantial remodeling more often than every 5 years during the term of the Franchise Agreement. To be eligible to open a Crunch Fitness franchise, candidates must have at least $1 million in net worth and access to $300,000 to $400,000 in liquid assets. Mr. ODonnell holds a CPA and received his Bachelors degree in Accounting from Assumption College in Massachusetts. After a few years of growth, Planet Fitness started franchising in 2003 with the first franchised gym opened in Florida. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. Therefore, this may include substantial remodeling of your premises as frequently as every 5 years. [10][7], Berks had started his own Planet Fitness gym in 1993 in Sunrise, Florida, and eventually expanded it to three clubs, along with a Gold's Gym franchise. But perhaps most important to this process is interviewing current franchisees. According to their website, Pure Barre is the oldest and most established barre studio out there. Overall, Planet Fitness is making a decent amount of profit, and we also see that the profit chart . Plus, that smaller pool of franchisees means each one receives more personalized support from the company. We started our business in 1992 and refined our brand for a decade or so before franchising in 2003. Planet Fitness ( PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. 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. 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. 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. Owning a fitness franchise is a fantastic way to enter into the multi-billion dollar fitness industry. - In Philippine currency, the investment comes around Php 47,15 million to Php 206,34 million. The highest Planet Fitness franchise made over 3 million dollars in revenue, whereas the lowest earning one made $165,000. You are going to downgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. 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. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. 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. [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. Airfare, ground transportation, meals, lodging, Government agencies and bonding companies, Payroll, debt services, ongoing pre-sale/grand opening marketing, and cash to cover miscellaneous day-to-day expenses, Estimated Selling Price = Net Sales * 0.67, Estimated Selling Price = Net Sales * 1.21. Here is a list of our partners and here's how we make money. In other words, franchising takes most of the heavy lifting off your shoulders. 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. New franchise owners can also expect to participate in a comprehensive training program, as the franchise requires their franchisees to be certified barre instructors. This, too, is best evaluated with the help of an accountant or business lawyer, who can help you break down the fine print. This investment is much higher than the industry standard of $253,000. You may need additional operating capital, or you may need it for a longer period of time. This information may be different than what you see when you visit a financial institution, service provider or specific products site. 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. This could be an indicator that franchisees are doing really well. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. Ad Royalty Fee: $300/mo. locations around the U.S. as well as Canada and the Dominican Republic. You must maintain your equipment according to Planet Fitness brand standards. 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. . 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. 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 . Mr. ODonnell has nearly 20 years of experience in a variety of finance and accounting roles. 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. This routine is an 18-minute HIIT workout that targets cardio and endurance. industry. The Grondahls changed the gyms name to Planet Fitness in 1994. 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. 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. Both of these fitness companies, while they differ in business models, use your own fitness data and others to create a competitive atmosphere. To open a gym, a franchisee must have a net worth of $3 million with a minimum of $1,500,000 in liquid assets. The concept currently has over 1,000 franchises in the United States and another 150 international locations and is a subsidiary of Ultimate Fitness Holdings. That way, participants can both track their own progress, and see how it stacks up to other people in the classso if you thrive on competition, this is the gym franchise for you. 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). By becoming a franchise owner, you can benefit from a proven business model, existing customer base, and franchisee support system. [36], The company reports that as of 2019, there are 80 corporate-owned gyms, the rest independently owned and operated. Your actual costs may be higher or lower depending on the size and location of your Planet Fitness business. 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. Burn Boot Camp Initial franchise fee: $54,950 to $59,950, Estimated total initial investment: $563,529 to $999,121. 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. Whether youre a gym rat yourself or youre passionate about helping others achieve their health goals, starting a fitness business can be a dream gig for health-conscious entrepreneurs. Initial franchise terms are 10 years. The Planet Fitness franchise was founded in 1992 and has been franchising since 2003. 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. The fitness center industry has grown with the rise in disposable income and demand for a more health-conscious lifestyle among millennials.