planet fitness franchise owners list

1),[16] and in its 2016 ranking of franchises, Forbes magazine ranked Planet Fitness No. Pure to Joseph Pilates' original Reformer-based Contrology Method, but modernized with group read more. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. Franchising began one year later, and today Orange Theory studios can be found in 18 countries, and across 49 states. Justin Vartanian serves as General Counsel and SVP, International Division overseeing all legal matters and international development. According to their website, Pure Barre is the oldest and most established barre studio out there. Office Depot, Planet Fitness, Roto Rooter, Starbucks, Taco Bell, Travelers, and United Health Group. 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. It is reported to be the nations fastest growing fitness center franchise. 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. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. Lead Assigning Editor | Small business finances, investing, banking. Pre-qualified offers are not binding. He has covered financial topics as an editor for more than a decade. Ad Royalty Fee: $300/mo. Due Date: Paid monthly and annually. Franchise. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. [54][55] Also in 2016, the company donated more than $1 million to the program. [43], With the addition of a Planet Fitness outlet in Hawaii in January 2018,[44] Planet Fitness had 1,500 locations with an estimated 10 million members across 50 states, the District of Columbia, the Dominican Republic, Mexico, and Panama[45] and Canada. 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. has over 8,900 franchises across the country. is growing quickly: In 2018, The Bar Method saw a 118% growth rate. 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. [47], In March 2013, Planet Fitness partnered with 50 Cent to sell his energy drink "Street King". Planet Fitness is a profitable business for the franchisor, with retained earnings of $210 million in 2021. 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 franchise also requires that candidates have at least $100,000 in combined liquid assets and a total net worth of at least $250,000. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. [36], The company reports that as of 2019, there are 80 corporate-owned gyms, the rest independently owned and operated. The fitness center industry is mainly divided into two groups, either a specialized fitness boutique or a full-scale gym with multiple amenities and services. In 2020, he joined the International Franchise Association (IFA) Board of Directors; board members are drawn from a world-class set of franchise brands. 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. Planet Fitness has more members and locations than any other fitness brand. Planet Fitness franchise opportunities are proven by 1,500 clubs successfully operating worldwide. 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. Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing gym franchises in the United States. JLM Financial Partners, Austin, Texas, and Eagle Merchant Partners, Atlanta . Prospective owners are asked to have a minimum net worth of $3 million and a minimum of $1,500,000 in liquid capital. Currently, the Planet Fitness franchise has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. This is a good indication of high growth as a company overall. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. Over the last three years, the company has been expanding. After establishing a strong reputation across the fitness industry, Latham decided to seek a larger challenge and transitioned from the study of physiology to owning a gym that implemented a business model that remains in place across all studios to this day: offering trainer-led group workout sessions, which are broken into intervals of cardiovascular and strength training. Although gym franchises require that the owner has previous management experience, most dont require experience in the fitness industry. According to Franchise Direct, the initial franchise fee is $20,000, while the area development fee is $10,000. Our partners cannot pay us to guarantee favorable reviews of their products or services. 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. Planet Fitness estimates the costs to upgrade and/or remodel your facility will range from $70,000 to $600,000 every 5 years. 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. 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. They opened a new gym called Coastal Fitness and the Grondahls hired current CEO. After you cover your startup costs, your total gross monthly take could greatly exceed your expectations, depending on how many memberships you sell. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Fitness franchises are currently booming with the largest franchises globally being Anytime Fitness and Planet Fitness. Initial franchise terms are 10 years. Estimated total initial investment: $198,650 to $446,250. With that said, a Planet Fitness franchise . 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. "[22], As early as March 2015, the "Judgement Free Zone" policy was expanded to allow trans women to use the women's locker room. 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. Planet Fitness ( PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. 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. Owner WIRED Telcom 159 W 1st Street Oswego, NY 13126 Phone: (315) 326-3350 . Lets get started. [17], As part of their effort to create a non-intimidating environment, Planet Fitness has alienated many serious weight lifters. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. When evaluating offers, please review the financial institutions Terms and Conditions. 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. 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. The following costs are part of the upfront costs included in the initial investment for Planet Fitness locations. Franchise Sales Manager Planet Fitness 4 Liberty Lane West Hampton, NH 03842 Phone: (603) 750-0001 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. [27], In February 2016, the franchise was added to the Franchise Times' "Fast and Serious" list of top franchises (No. For those looking to get started with a Planet Fitness franchise, it's important to factor in all of these costs so that you have a clear understanding of the total investment required. The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. [32][33], Planet Fitness started franchising units in 2003. Assistant Assigning Editor | Small-business finance, personal finance. These figures are estimates based on Planet Fitness and its affiliates experience in operating locations. - In Canadian currency, the investment comes around Can$ 1,231,300 to Can$ 5,387,800. Compared to $145 million in 2020, they saw an increase of 44% from 2020 to 2021. Ms. Medeiros has been instrumental in developing and refining Planet Fitness marketing strategy and differentiated Judgement Free positioning in the fitness industry. Follow along as PF Trainer Teddy teaches you the basics of fitness, right in the comfort of your own home. 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. Prior to joining Planet Fitness, Ms. Simmons worked in Finance and Business Planning roles for Timberland, PepsiCo, and Fisher Scientific International. [41][42] In October 2015 the company opened their second international location in Santo Domingo, Dominican Republic. However, this does not influence our evaluations. 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. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. Former Gov. There are very few reasons why one might want to open a Planet Fitness franchise. All initial fees are the same for both initial and conversion franchises. The Grondahls changed the gyms name to Planet Fitness in 1994. [16] Planet Fitness became known as the "Judgement Free Zone", aimed more at the average user than the bodybuilder type of fitness enthusiast. Planet Fitness franchise is growing, and it is growing fast. 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. 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. After a few years of growth, Planet Fitness started franchising in 2003 with the first franchised gym opened in Florida. 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. Robert Beaupre leads the SMB team at NerdWallet. Benson, who co-founded the former Cabletron Systems, once the . The difficult part of this step of the franchise buying due diligence process lies in obtaining a current list of Planet Fitness franchise owners. 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. Mr. Rondeau also received an honorary doctorate degree from Philadelphia University and received the Universitys honorary innovation medal. Planet Fitness franchise costs, based on Item 7 of the company's 2022 FDD: Initial Franchise Fee: $20,000 Site Selection Costs: $0 to $10,000 Construction Development Plan Review Fee: $0 to $4,000 Leasehold Improvements: $1,250,000 to $2,163,000 Fitness Equipment: $34,000 to $953,000 Non-Fitness Equipment: $63,000 to $825,000 If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. [13] The new model was an effort to provide a fitness hub for everyday people. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see the mustache commercial? You have to pay this upfront fee when opening a Planet Fitness franchise. [28] It ranked in the top 50 of Entrepreneur magazine's Franchise 500 in 2017. 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. Orange Theory was ranked 49th in the franchise 500 rankings according to entrepreneur.com. 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. Wed recommend meeting with your bank or accountant to help you determine which franchise is financially doable for you right now. NerdWallet strives to keep its information accurate and up to date. In this role, she oversees general HR operations, talent acquisition, leadership development, business partner support, culture and employee engagement, benefits and compensation. Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. Ongoing Royalty Fee: $449 - $549/mo. [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. 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. Initial franchise fee: $32,000 to $40,000, Estimated total initial investment: $2.2 million to $5 million. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. This FREE 10-part progressive program will help you get movin'. [6], In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. If you own and operate multiple Planet Fitness businesses in the same market area and LAF spending for them is combined. 1. 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. Earlier in her career, Ms. Kaplan held several digital and marketing leadership roles at global brands including American Express and Citi, Inc. She serves as an independent member of the Fiesta Restaurant Group Board of Directors, as well as the Massachusetts Innovation & Technology Exchange (MITX). Mr. Barber has over 20 years of experience in leadership experience across a variety of industries, most recently serving as the Senior Vice President of Information Technology at United Natural Foods Inc. Estimated total initial investment: $304,500 to $2.1 million. Paul Barber joined Planet Fitness in October 2022 as the Companys Chief Information Officer. The fitness center industry has grown with the rise in disposable income and demand for a more health-conscious lifestyle among millennials. Classroom Training: 80 hours has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. You must maintain the franchise premises according to Planet Fitness brand standards. Share. They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. - In Mexican currency, the investment comes around Peso 20,19 million to Peso 88,33 million. 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 . Throughout his tenure at Dunkin Brands, Mr. Rated Excellent on TrustPilot with feedback from 50+ customers. 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. Club Pilates North Shore is a boutique Pilates studio specializing in reformer fusion classes for anyone, at any age or fitness level. 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 . 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. Although gym franchises require that the owner has previous management experience, most dont require experience in the. 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. 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. Net Worth Requirement: $3,000,000 Youre about to cancel your subscription. 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. Throughout her tenure, she has held roles of increasing responsibility, with her most recent position being Vice President of National Marketing. locations around the U.S. as well as Canada and the Dominican Republic. [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. The policy states that "members and guests may use all gym facilities based on their sincere self-reported gender identity. She played a pivotal role in creating breakthrough nation marketing campaigns that have built the brand over the past two decades, including iconic advertising campaigns like Lift Things and No Gymtimidation, along with pillar marketing sponsorships like the brands New Years Eve celebration in Times Square. 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. The total investment ranges from $728,290 to $3,777,800. 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. However, the profit varies on your location also. Currently, the. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. Absentee Ownership Allowed, Planet Fitness Franchise Info: https://www.planetfitness.com. Orange Theory Franchise was founded in Boca Raton, Florida in 2009. 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 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. [25][26] The company went public on August 6, 2015. Prior to Sonus, he worked for more than 10 years in public accounting with both Deloitte and Touche and Arthur Andersen. Even though its smaller than Pure Barre, The Bar Method franchise is growing quickly: In 2018, The Bar Method saw a 118% growth rate. [39][29][40], In December 2014, Planet Fitness opened its first international location in Toronto, Ontario, Canada. 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. The Planet Fitness initial franchise fee is $20,000. 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). [24] Michael Grondahl, co-founder of Planet Fitness stepped down as CEO, and was succeeded by Chris Rondeau. [37], The club's two membership levels are $10 and $24.99 per month in the United states[38] and in Canada they charge $15 and $25 per month. - In the United States, the total investment to start the Planet Fitness gym is around $969,600 to $4,242,500. Since their start in 2002, Anytime Fitness has opened over 4,000 locations on all seven continents. 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. In fact, in a recent Inc. 5000 list of the 10 fastest growing franchises, four were fitness franchises. The name came from his daughter's school project, "Fitness Planet". 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. 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. [22] In 2010, Men's Health magazine called Planet Fitness "the worst gym in America. Ms. Gentilozzi is a certified Senior Professional in Human Resources (SPHR). 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 To be eligible to open a. , candidates must have at least $1 million in net worth and access to $300,000 to $400,000 in liquid assets. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. ", "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.