planet fitness franchise owners list

industry. 6.4 miles away from Planet Fitness. As can be seen, Planet Fitness stock has outpaced the S&P 500 by almost 2x. Co-founder, Elle Latham, decided to open a gym to implement her personally designed workout, which eventually became the basis for Orange Theorys system. He held multiple store operations positions with P&L responsibility progressing from Store Manager to Regional Manager. The fitness center industry has grown with the rise in disposable income and demand for a more health-conscious lifestyle among millennials. In this role, she oversees general HR operations, talent acquisition, leadership development, business partner support, culture and employee engagement, benefits and compensation. The Area Development Fee is uniform and non-refundable. 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. [61], In January 2020, Planet Fitness partnered with The Biggest Loser to be the official sponsor of the show's 2020 reboot.[62]. [14] Berks later went on to open the first Youfit Health Club in St. Petersburg, Florida. 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. 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. The initial Planet Fitness Franchise Fee is $20,000. We offer detailed franchise research and contact data reports. 4 Liberty Ln. Sorry. 3- Based on a midpoint investment of $3,273,300 with estimated profits of $831,881 at a 15% profit margin, it would take about 14 years to recoup your investment. If a fitness business with a franchise sounds good, heres nine of the most promising options for a gym franchise. Brian ODonnell joined Planet Fitness in February 2016 and currently serves as VP, Chief Accounting Officer. 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. 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. It is important to talk to other franchisees and see what their costs were for leasehold improvements and construction. [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. Previously, Mr. Fitzgerald served as Chief Administrative Officer of Sears Canada. 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. Franchise fee: one-time $10,000 for a 10-year renewable agreement. Follow along as PF Trainer Teddy teaches you the basics of fitness, right in the comfort of your own home. Orangetheory Fitness provides a totally unique (and seriously hard) group workout experience. 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. | United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. [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. 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. Prior to Sonus, he worked for more than 10 years in public accounting with both Deloitte and Touche and Arthur Andersen. 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. [11][12] Berks had been catering to the bodybuilding culture in his Gold's Gym. 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. [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. has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. Planet Fitness Independent Franchisee Council Join Us Today! - In Saudi Arabia currency, the investment comes around SR 3,64 million to SR 15,91 million. Planet Fitness franchisees also compete against other smaller gym and fitness business locations. In fact, in a recent Inc. 5000 list of the 10 fastest growing franchises, four were fitness franchises. 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. The chain has over a thousand locations with over 400 units outside the US. They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. Currently, Golds Gym franchise has available markets in almost every state across the country, and select international opportunities. Franchising Since: 2000. ", "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. Robert Beaupre leads the SMB team at NerdWallet. - In Malaysian currency, the investment comes around MYR 3,93 million to MYR 17,21 million. Many of these are one-time fees that are needed to launch the franchise. 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. [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. Wed recommend meeting with your bank or accountant to help you determine which franchise is financially doable for you right now. In 2020, he joined the International Franchise Association (IFA) Board of Directors; board members are drawn from a world-class set of franchise brands. - In currency of the United Kingdom, the investment comes around 694,900 to 3,040,600. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. Owning a UFC Gym means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing gym franchises in the United States. Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. Franchise Description: Planet Fitness Franchising LLC is the franchisor.The ultimate parent company is Planet Fitness, Inc. The policy states that "members and guests may use all gym facilities based on their sincere self-reported gender identity. Orange Theorys success is quite similar to Pelotons rise to fame. According to their website, Pure Barre is the oldest and most established barre studio out there. 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. 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. An individual planet fitness franchise owner can make around $513,00 to $5,554,000 annually. Due Date: Expended according to Planet Fitness Methods of Operations as per your advertising budget. [16] Planet Fitness became known as the "Judgement Free Zone", aimed more at the average user than the bodybuilder type of fitness enthusiast. However, this ultra-famous franchise is the most expensive on this list, with an estimated upfront investment potentially reaching over $5 million. After a few years of growth, Planet Fitness started franchising in 2003 with the first franchised gym opened in Florida. We reviewed the larger franchise industry as well as selling price multiples for larger systems where more transaction data is available. You'll also benefit from . The gym utilizes a "lunk alarm", which is a loud siren and rotating light that is used when a gymgoer grunts too loudly or drops weights. Prior to Jiffy Lube, he served on Shells global Downstream Acquisitions & Divestments Leadership Team with responsibility for transaction delivery across North and South America. According to their website, Pure Barre is the oldest and most established barre studio out there. 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. 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. 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. Rated Excellent on TrustPilot with feedback from 50+ customers. [47], In March 2013, Planet Fitness partnered with 50 Cent to sell his energy drink "Street King". [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. Estimated Number of Units: 2,300. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. [17] They also dramatically reduced prices to compete against better-known brands. "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." Orange Theory was ranked 49th in the franchise 500 rankings according to entrepreneur.com. [54][55] Also in 2016, the company donated more than $1 million to the program. 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. Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). With that said, a Planet Fitness franchise . If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Initial franchise fee: $30,000 to $50,000, Estimated total initial investment: $100,000 to $2 million. SVP Communications and Corporate Social Responsibility, General Counsel and SVP, International Division. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. Burn Boot Camp This information may be different than what you see when you visit a financial institution, service provider or specific products site. 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. [32][33], Planet Fitness started franchising units in 2003. United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. 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. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. 1. Lets get started. At that time, Michael Grondahl stepped down as CEO and Chris Rondeau took his place and has held the position since. [48], Since December 2014, Planet Fitness has been the official fitness sponsor of Dick Clark's New Year's Rockin' Eve on ABC. [36], The company reports that as of 2019, there are 80 corporate-owned gyms, the rest independently owned and operated. 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 Over the last three years, the company has been expanding. 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. 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 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. 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. 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. 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. Initial franchise fee: $32,000 to $40,000, Estimated total initial investment: $2.2 million to $5 million. 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. Net Worth Requirement: $3,000,000 1,600+ locations open and we're just getting started! 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. Mr. Fitzgerald has over 30 years of leadership experience in financial management in the retail industry, most recently serving as Chief Financial Officer and Senior Vice President at Potbelly Sandwich Works. Subscribe to our newsletters and keep up-to-date with the latest news in the franchise industry. As a result, she has played an instrumental role in the major strategic decisions made by the Company. Here is a list of our partners and here's how we make money. 4. So how do we make money? Estimated total initial investment: $304,500 to $2.1 million. [44][37] In 2016, over 90% of Planet Fitness locations were opened by existing franchise owners. The U.S. has the biggest Fitness market in the world, both in terms of revenue and in the number of members enrolled in a fitness facility. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. from Boston University and an M.B.A. from the University of Denver, Daniels College of Business. [6], In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. With this purchase, which was for an undisclosed amount, United PF's club count has . He joined Planet Fitness in 2016 as the Senior Vice President of Franchise Operations. Additionally, he held several leadership positions at Liz Claiborne, was Chief Financial Officer at Burlington Coat Factory, and served as Chief Operating Officer of Bath & Body Works. 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. Club Pilates North Shore is a boutique Pilates studio specializing in reformer fusion classes for anyone, at any age or fitness level. 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. Even though its smaller than Pure Barre, The Bar Method franchise is growing quickly: In 2018, The Bar Method saw a 118% growth rate. Even more reason to consider investing in a gym franchise? 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. When you go to sell a Planet Fitness franchise based on the median multiple of .67 and net sales in 2021 of $1,545,877, it would sell for $1,035,737. 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. This model has become extremely sticky in the fitness industry because while many people want to achieve their fitness goals, they innately lack motivation. Previously, he was the Chief Technology Officer at Airline Report Corporation, where he modernized the technology needed to process billions of dollars in payments annually. The following costs are part of the upfront costs included in the initial investment for Planet Fitness locations. Estimated total initial investment: $1 million to $4.1 million. In this role, he has overall leadership and accountability of the brands primary revenue producing business segments, including U.S. and international franchise operations and development, equipment sales, and Corporate stores, in addition to both the technology and legal functions. Planet Fitness offers people the opportunity to be a part of the fitness business, but we do not believe this is sustainable. This influences which products we write about and where and how the product appears on a page. 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. At the moment we can not connect you to the representative of this franchise. 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. $10,000, plus our reasonable out-of-pocket expenses, including external legal and administrative costs we incur in connection with the transfer. Lead Assigning Editor | Small business finances, investing, banking. The difficult part of this step of the franchise buying due diligence process lies in obtaining a current list of Planet Fitness franchise owners. [27], In February 2016, the franchise was added to the Franchise Times' "Fast and Serious" list of top franchises (No. 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. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. We believe everyone should be able to make financial decisions with confidence. You must pay a supplemental fee of $5,000, per location remaining to be developed, plus our reasonable out-of-pocket expenses, including external legal and administrative costs we incur in connection with the transfer. 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. 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. An innovative entrepreneur, Mr. Rondeau was honored as an EY Entrepreneur of the Year and inducted into the UNH Alumni Entrepreneur Hall of Fame. The Planet Fitness franchise was founded in 1992 and has been franchising since 2003. The franchise requires that candidates have access to over $90,000 in liquid capital, and a minimum net worth of $300,000. Paid by you to advertisers or Planet Fitness if it elects to collect from you. That said, Orangetheory is designed for people of all fitness levels, since participants can go entirely at their own pace. Planet Fitness growth continued over the next decade and in 2013, TSG Consumer Partners, LLC became an equity partner in the Planet Fitness franchise. Prior to Dunkin, she worked at various communications agencies in both Boston and Washington, DC on behalf of various leading retail brands. Mind that the franchise requirements for sale could be different depending on the format and scope of business. - In Mexican currency, the investment comes around Peso 20,19 million to Peso 88,33 million. But buying into a gym franchise is a less risky venture than building a gym from the ground up. "[23], In the fall of 2013, TSG Consumer Partners LLC became an equity partner in the Planet Fitness franchise. Kick off your search with this list of nine of the most promising gym franchises to buy. Pre-qualified offers are not binding. In this role, he oversees the Companys accounting and treasury functions. 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. [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. Mr. Barber holds a B.S. All financial products, shopping products and services are presented without warranty. This is a good indication of high growth as a company overall. 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. 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. 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. Cash Required $1,500,000. Estimated total initial investment: $58,870 to $521,437. Before joining NerdWallet, he served as senior editorial manager of QuinStreet's insurance sites and managing editor of Insure.com. [19] According to a Planet Money episode from 2014, "half of the Planet Fitness members don't ever go to their gyms. 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. The Planet Fitness franchise sets itself apart from other gyms by being the "Judgement Free Zone" where everyone can feel comfo. 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 Currently, the Planet Fitness franchise has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. 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. All reactions: 8. [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. The Initial Franchise Fee is uniform and non-refundable. Planet Fitness franchise is one of the largest fitness US chains by a number of members and locations. 1),[16] and in its 2016 ranking of franchises, Forbes magazine ranked Planet Fitness No. Their website reads, We are not currently accepting new franchisee applications for US expansion.. First, youll need to winnow down your list to only the gyms whose investment levels align with your financials, as well as your eligibility to secure franchise financing or gym financing. All told, their gyms boast over 14 million members worldwide. 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.

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