By becoming a franchise owner, you can benefit from a proven business model, existing customer base, and franchisee support system. - In Malaysian currency, the investment comes around MYR 3,93 million to MYR 17,21 million. 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. Annually Updated with New Owners of Planet Fitness Locations in the USA. [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. The fitness center industry has grown with the rise in disposable income and demand for a more health-conscious lifestyle among millennials. Ms. Medeiros has been instrumental in developing and refining Planet Fitness marketing strategy and differentiated Judgement Free positioning in the fitness industry. Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. [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. [54][55] Also in 2016, the company donated more than $1 million to the program. That said, as of June 2022, Planet Fitness has paused offering franchises. 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. [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. The total investment to open a Planet Fitness gym ranges from $728,290 - $3,777,800. in Management Information Systems from Northwood University. Initial franchise fee: $32,000 to $40,000, Estimated total initial investment: $2.2 million to $5 million. West Hampton, NH 03842, USA, Interested? Planet Fitness has more members and locations than any other fitness brand. We reviewed the larger franchise industry as well as selling price multiples for larger systems where more transaction data is available. Greater of $60,000 or 7% of the total gross monthly membership fees payable to you via EFT in a quarter, and the greatest of $5,000 or 3% of the total gross monthly membership fees payable to you via EFT in a month. Today, there are Planet Fitness franchise locations around the U.S. as well as Canada and the Dominican Republic. 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. 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. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. [41][42] In October 2015 the company opened their second international location in Santo Domingo, Dominican Republic. [13] The new model was an effort to provide a fitness hub for everyday people. Thanks to that near-legendary status in the fitness world, and their loyal customers. In this role, he oversees the Companys accounting and treasury functions. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. 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. Assistant Assigning Editor | Small-business finance, personal finance. McCall Gosselin joined Planet Fitness in January 2013 and currently serves as SVP of Communications and Corporate Social Responsibility. [27], In February 2016, the franchise was added to the Franchise Times' "Fast and Serious" list of top franchises (No. Currently, the Planet Fitness franchise has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. Mr. Fitzgerald began his career at PepsiCo, where he held various leadership roles in finance and planning. 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. [35], The net worth requirement for a Planet Fitness franchise is $3,000,000, while the liquid cash requirement is $1,500,000. The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. 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. You'll build confidence while increasing your fitness knowledge. Initial Franchise Fee: $20,000 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. Planet Fitness (PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. 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, 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 . Ms. Gosselin was named a Top Woman in PR by PR News in 2020. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. 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 He has covered financial topics as an editor for more than a decade. This could be an indicator that franchisees are doing really well. Initial franchise fee: $30,000 to $50,000, Estimated total initial investment: $100,000 to $2 million. 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. In fact, in a recent Inc. 5000 list of the 10 fastest growing franchises, four were fitness franchises. Before the pandemic, it was growing at a rate of approximately 200 units a year, which is impressive. [29], In 2020, the company received criticism for charging its customers for March dues "despite closing its facilities nationwide due to the novel coronavirus pandemic. Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing gym franchises in the United States. Initial franchise terms are 10 years. If you can name a franchise business, it's probably on our Franchise owners marketing list. Orangetheory Fitness provides a totally unique (and seriously hard) group workout experience. 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. The Planet Fitness franchise sets itself apart from other gyms by being the "Judgement Free Zone" where everyone can feel comfo. 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. Initial franchise fee: $54,950 to $59,950, Estimated total initial investment: $563,529 to $999,121. Of the total gross monthly and annual membership fees payable to you via EFT Dues Draft. 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. Prior to Jiffy Lube, he served on Shells global Downstream Acquisitions & Divestments Leadership Team with responsibility for transaction delivery across North and South America. All financial products, shopping products and services are presented without warranty. Mr. ODonnell has nearly 20 years of experience in a variety of finance and accounting roles. NerdWallet strives to keep its information accurate and up to date. Lets get started. Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. They provide an affordable, high-quality fitness experience in a welcoming environment. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. 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. This is significantly lower than the midpoint investment of $3,273,500. Liquid Cash Requirement: $1,500,000. If a fitness business with a franchise sounds good, heres nine of the most promising options for a gym franchise. [11][12] Berks had been catering to the bodybuilding culture in his Gold's Gym. [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. Franchise Division including leading the operations, development and construction, vendor management and local marketing execution teams. 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. Classroom Training: 80 hours "[23], In the fall of 2013, TSG Consumer Partners LLC became an equity partner in the Planet Fitness franchise. Franchising began one year later, and today Orange Theory studios can be found in 18 countries, and across 49 states. This covers the cost of being able to use their name and logo. 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. 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. You must maintain your equipment according to Planet Fitness brand standards. Estimated Number of Units: 2,300. The franchise requires that candidates have access to over $90,000 in liquid capital, and a minimum net worth of $300,000. Orange Theory uses your heart rate to show your exertion potential compared to the maximal effort and compares you to your peers in classes. Chris Rondeau has served as the Chief Executive Officer of Planet Fitness since January 2013. Club Pilates North Shore is a boutique Pilates studio specializing in reformer fusion classes for anyone, at any age or fitness level. 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. All initial fees are the same for both initial and conversion franchises. from Boston University and an M.B.A. from the University of Denver, Daniels College of Business. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. Thanks to that near-legendary status in the fitness world, and their loyal customers, Jazzercise has over 8,900 franchises across the country. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. The Area Development Fee is uniform and non-refundable. 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. From there, youll receive additional materials to help inform your decision, including the all-important franchise agreement, including the franchise disclosure document (FDD). And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. At Yum! [49] [50], Since 2015, Planet Fitness has been a personal sponsor of NASCAR driver and champion Joey Logano. Estimated total initial investment: $2,405 to $3,200. The Grondahls changed the gyms name to Planet Fitness in 1994. 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. 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 . Estimated total initial investment: $198,650 to $446,250. Prior to joining the Company, Mr. ODonnell most recently served as Vice President of Finance and Chief Accounting Officer at Sonus Networks. This influences which products we write about and where and how the product appears on a page. Throughout her tenure, she has held roles of increasing responsibility, with her most recent position being Vice President of National Marketing. Ongoing Royalty Fee: $449 - $549/mo. [44][37] In 2016, over 90% of Planet Fitness locations were opened by existing franchise owners. He held multiple store operations positions with P&L responsibility progressing from Store Manager to Regional Manager. Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). | United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. 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. 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. The Fitness Center industry has over 111,000 businesses with a market size of $34 billion, and it supports over 800,000 jobs. Prior to joining Planet Fitness, Ms. Simmons worked in Finance and Business Planning roles for Timberland, PepsiCo, and Fisher Scientific International. At that time, Michael Grondahl stepped down as CEO and Chris Rondeau took his place and has held the position since. Burn Boot Camp Initial term lengths last 10 years. In this role, he leads all aspects of our U.S. With this purchase, which was for an undisclosed amount, United PF's club count has . The board of directors at Planet Fitness is as follows: Stephen Spinelli, Jr. (Ph.D.), Chairman Chris Rondeau (CEO) Bernard Acoca Enshalla Anderson Craig Benson Cammie Dunaway Frances Gregg Rathke Christopher Tanco The chain has over a thousand locations with over 400 units outside the US. This routine is an 18-minute HIIT workout that targets cardio and endurance. 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). Justin Vartanian serves as General Counsel and SVP, International Division overseeing all legal matters and international development. Even if your network of Planet Fitness franchises earns above $% a million, you will not be able to recover costs just by selling it.

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