8. locations around the U.S. as well as Canada and the Dominican Republic. The total investment to open a Planet Fitness gym ranges from $728,290 - $3,777,800. Be advised to match Planet Fitness franchise cost and profit by analyzing low and high fees you need to pay starting a Planet Fitness franchise. 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. Initial franchise fee: $54,950 to $59,950, Estimated total initial investment: $563,529 to $999,121. 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. An offshoot of the (purportedly) $7 billion UFC brand, UFC Gyms offer MMA-inspired personal and specialized training, traditional and fusion martial arts classes, and youth fitness classes. 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. 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. 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. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. The Area Development Fee is in addition to the then-current Initial Franchise Fee due for each location at the time the Franchise Agreement for that location is executed. On this Wikipedia the language links are at the top of the page across from the article title. Prior to joining Planet Fitness, Mr. Vartanian was a corporate attorney at Devine Millimet. Assistant Assigning Editor | Small-business finance, personal finance. FranchiseComplaints.org As can be seen, Planet Fitness stock has outpaced the S&P 500 by almost 2x. "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." | United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. [41][42] In October 2015 the company opened their second international location in Santo Domingo, Dominican Republic. Planet Fitness growth continued over the next decade and in 2013, TSG Consumer Partners, LLC became an equity partner in the Planet Fitness franchise. Owning a UFC Gym means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. Before joining NerdWallet, he served as senior editorial manager of QuinStreet's insurance sites and managing editor of Insure.com. This large discrepancy indicates the potential different costs you could face when building your Orange Theory franchise as a franchisee. Benson is back on the board of Planet Fitness Planet Fitness is a profitable business for the franchisor, with retained earnings of $210 million in 2021. PDF Together We Are Franchising Due Date: Paid monthly and annually. 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. Get in touch with Planet Fitness Owners from around the US with verified contact data for all owners of all Planet Fitness locations. Franchising began one year later, and today Orange Theory studios can be found in 18 countries, and across 49 states. Start a Planet Fitness Franchise in 2023 - Entrepreneur All told, their gyms boast over 14 million members worldwide. 10 Qualities of Highly Successful Fitness Franchise Owners The Initial Franchise Fee is uniform and non-refundable. You'll build confidence while increasing your fitness knowledge. Initial Franchise Fee: $20,000 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. 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. NerdWallet strives to keep its information accurate and up to date. Looks like your subscription is due. The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. However, the profit varies on your location also. in Pilates. 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. It offers classes for dance, aqua, cycle, box, pilates, and many more. In addition, he served as an online media manager for the University of Nevada, Reno. The Area Development Fee is uniform and non-refundable. 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. Planet Fitness Initial franchise fee: $20,000 Estimated total initial investment: $1 million to $4.1 million Planet Fitness trademarked the phrase "judgment free zone," so that alone. 4 Liberty Ln. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. 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. By contacting current franchise owners and asking about their experience with the franchised business, the earnings and/or success thus far, training and support from the franchisor, Pla-FitFranchise, and whether or not they would buy the franchise again if they could do it all over again, you can learn what its really like to own a Planet Fitness business before you actually purchase a franchise. . Franchise Sales Manager Planet Fitness 4 Liberty Lane West Hampton, NH 03842 Phone: (603) 750-0001 The 2019 Planet Fitness Franchise Awards were given to the following: Hall of Fame: Jeff & James Innocenti - PF Supreme Franchisee of the Year: Mike Turner & CJ Bouchard - Excel Fitness Operator of the Year: Steve Kindler, Jr. - National Fitness Partners Developer of the Year: Tim Kelleher - Taymax Group Planet Fitness Franchise Cost The estimated total investment necessary to begin the operation of a Planet Fitness Franchise ranges from $1,625,600 - $4,921,000. 2% of the total gross monthly EFT Dues Draft. is growing quickly: In 2018, The Bar Method saw a 118% growth rate. 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. The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. 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. 1,600+ locations open and we're just getting started! However, this does not influence our evaluations. The owner of the franchise (the franchisee) is expected to be involved in all aspects of day-to-day operations. JLM Financial Partners, Austin, Texas, and Eagle Merchant Partners, Atlanta . Planet Fitness has more members and locations than any other fitness brand. This model has become extremely sticky in the fitness industry because while many people want to achieve their fitness goals, they innately lack motivation. "[23], In the fall of 2013, TSG Consumer Partners LLC became an equity partner in the Planet Fitness franchise. 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. 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. Please confirm by clicking on the Cancel Subscriptionbutton below. Paid Grace Period. We also suggest that you speak to 3 5 Planet Fitness owners before opening one yourself. This information may be different than what you see when you visit a financial institution, service provider or specific products site. Franchise candidates can expect to pay anywhere between $354k to $1.2m. Initial term lengths last 10 years. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. 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. Wed recommend meeting with your bank or accountant to help you determine which franchise is financially doable for you right now. This is significantly lower than the midpoint investment of $3,273,500. [18] This low-cost business model focuses on the needs of occasional or first-time health club members, rather than more experienced members,[6] and depends on many members rarely showing up. Our partners compensate us. 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. 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. 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. Golds Gym also requires that potential franchisees have a minimum of $1 million in net worth and $400,000 in liquid assets. At Jiffy Lube, he oversaw the strategic direction of the company, and managed franchise relationships to create a shared vision for the brand, drive network growth, and maintain Jiffy Lubes leading market share. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. 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. [36], The company reports that as of 2019, there are 80 corporate-owned gyms, the rest independently owned and operated. [16] Planet Fitness became known as the "Judgement Free Zone", aimed more at the average user than the bodybuilder type of fitness enthusiast. This article originally appeared on JustBusiness, a subsidiary of NerdWallet. Prior to Jiffy Lube, he served on Shells global Downstream Acquisitions & Divestments Leadership Team with responsibility for transaction delivery across North and South America. 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. This could be an indicator that franchisees are doing really well. Except for signage, Planet Fitness will not require substantial remodeling more often than every 5 years during the term of the Franchise Agreement. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. Ms. Medeiros has been instrumental in developing and refining Planet Fitness marketing strategy and differentiated Judgement Free positioning in the fitness industry. According to their website, Pure Barre is the oldest and most established barre studio out there. Annually Updated with New Owners of Planet Fitness Locations in the USA. At Yum! Our research and analytics team analyzed over 120 franchise concept investment breakdowns in order to calculate this figure. Many or all of the products featured here are from our partners who compensate us. When evaluating offers, please review the financial institutions Terms and Conditions. As a result, she has played an instrumental role in the major strategic decisions made by the Company. The following costs are part of the upfront costs included in the initial investment for Planet Fitness locations. 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. An innovative entrepreneur, Mr. Rondeau was honored as an EY Entrepreneur of the Year and inducted into the UNH Alumni Entrepreneur Hall of Fame. Club Pilates North Shore is a boutique Pilates studio specializing in reformer fusion classes for anyone, at any age or fitness level. Classroom Training: 80 hours 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 Cost & Fees | How To Open | Opportunities And Both franchising units and company-operated stores have increased. Today the brand has over 2,000 locations system-wide. However, this ultra-famous franchise is the most expensive on this list, with an estimated upfront investment potentially reaching over $5 million. We were opening our 5th store then. 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. Franchise Description: Planet Fitness Franchising LLC is the franchisor.The ultimate parent company is Planet Fitness, Inc. Ms. Medeiros received her Bachelors degree from the University of New Hampshire. They opened a new gym called Coastal Fitness and the Grondahls hired current CEO. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. He has covered financial topics as an editor for more than a decade. Estimated total initial investment: $304,500 to $2.1 million. According to their website, Pure Barre is the oldest and most established barre studio out there. 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. Planet Fitness ( PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. Join PFIFC Total Investment $728,290 - $3,777,800. 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. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. History of Planet Fitness in Timeline - Popular Timelines The Planet Fitness initial franchise fee is $20,000. Edward Hymes joined Planet Fitness in January 2023 as President and Chief Operating Officer. The franchise requires that candidates have access to over $90,000 in liquid capital, and a minimum net worth of $300,000. [8][9][7] In 2002, they purchased the rights to the name Planet Fitness from Rick Berks and renamed their franchise. Find other similar franchises in our catalog! Paid by you to advertisers or Planet Fitness if it elects to collect from you. Over the last three years, the company has been expanding. Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. [47], In March 2013, Planet Fitness partnered with 50 Cent to sell his energy drink "Street King". - In Mexican currency, the investment comes around Peso 20,19 million to Peso 88,33 million. 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. Ms. Simmons has an MBA in Finance from the University of New Hampshire and holds dual Bachelors degrees in Economics and Sociology from Indiana University. 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. Robert Beaupre leads the SMB team at NerdWallet. Both within the fitness industry and American culture at large, Golds Gym has become legendary for their famous members (including Arnold Schwarzenegger) and their status as the mecca of bodybuilding. Since their founding by a Merchant Marine veteran in 1965, the Los Angeles-based gym has opened over 700 gyms in 29 states and 29 countries, and their international membership is 3 million devotees strong. 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. 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. Franchise Owners Marketing Lists - Dataman Group Direct has opened over 4,000 locations on all seven continents. Planet Fitness Gym - Franchise Solutions * The data above, compiled from the Planet Fitness FDD (Franchise Disclosure Document) 2020, represent the estimated financial range for the initial setting up and first 6 months of operation for a new Planet Fitness gym. Here is a list of our partners and here's how we make money. 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. Then, the last four workouts in the program will take place in the gym and you'll learn how . Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. Even more reason to consider investing in a gym franchise? Planet Fitness Fitness clubs 2023 Franchise 500 Rank #28 Ranked #7 last year See the Full List Initial investment $1.6M - $4.9M Units as of 2022 2,324 25.0% over 3 years Jump to Franchising. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Orange Theorys success is quite similar to Pelotons rise to fame. Initial investments: $969,600 - $4,242,500 Net Worth Requirement: $3,000,000 Liquid Cash Requirement: $1,500,000 Estimated Initial Investment [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. Corporate Governance - Management Team - Planet Fitness Additional Training: Ongoing training In 2020, he joined the International Franchise Association (IFA) Board of Directors; board members are drawn from a world-class set of franchise brands. 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. In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. 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. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. 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. Your experience may vary depending on whether you finance tenant improvements, your location, and other factors. 1 comment. The initial Planet Fitness Franchise Fee is $20,000. Prior to that he served as the Chief Operating Officer since 2003. In this role, he will lead the Companys technology evolution and strategy, focused on delivering technology solutions that will continue to enhance the member experience while optimizing infrastructure, data and operations for flexibility and scale. - In currency of the United Kingdom, the investment comes around 694,900 to 3,040,600. You must be logged in to view this form. Initial investments: $969,600 - $4,242,500 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. It is important to talk to other franchisees and see what their costs were for leasehold improvements and construction. Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). Mr. ODonnell has nearly 20 years of experience in a variety of finance and accounting roles. Benson, who co-founded the former Cabletron Systems, once the . Franchise Division including leading the operations, development and construction, vendor management and local marketing execution teams. Orange Theory Franchise was founded in Boca Raton, Florida in 2009. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary.

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