planet fitness franchise owners list

When evaluating offers, please review the financial institutions Terms and Conditions. You will pay a lump-sum nonrefundable Initial Franchise Fee in the amount of $20,000 when you sign the Franchise Agreement. - In Philippine currency, the investment comes around Php 47,15 million to Php 206,34 million. At that time, Michael Grondahl stepped down as CEO and Chris Rondeau took his place and has held the position since. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. 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. He held multiple store operations positions with P&L responsibility progressing from Store Manager to Regional Manager. JLM Financial Partners, Austin, Texas, and Eagle Merchant Partners, Atlanta . "[21] Planet Fitness has been criticized for prohibiting certain weightlifting exercisessuch as deadlifts and clean-and-jerksthat many experts believe are highly effective. 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. Lets get started. Planet Fitness Franchise Owners' Salary Your gross monthly take is based on your memberships, which range from $10 to $25 per month for the franchise. Our research and analytics team analyzed over 120 franchise concept investment breakdowns in order to calculate this figure. 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. Net Worth Requirement: $3,000,000 Prior to Planet Fitness, Ms. Gosselin worked at Dunkin Brands on the global public relations team. As can be seen, Planet Fitness stock has outpaced the S&P 500 by almost 2x. All told, their gyms boast over 14 million members worldwide. When evaluating offers, please review the financial institutions Terms and Conditions. * 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. Franchise Sales Manager Planet Fitness 4 Liberty Lane West Hampton, NH 03842 Phone: (603) 750-0001 8. Due Date: Expended according to Planet Fitness Methods of Operations as per your advertising budget. Due Date: Paid monthly and annually. 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. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. 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. So how do we make money? 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. Wed recommend meeting with your bank or accountant to help you determine which franchise is financially doable for you right now. Planet Fitness (PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. For example, this includes replacing your cardio equipment every 5 years and replacing your non-cardio equipment every 7 years. Find other similar franchises in our catalog! Pre-qualified offers are not binding. Initial franchise terms are 10 years. While at Dunkin Brands, he helped lead the technology team that rolled out mobile ordering across 9,000 locations. Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. Estimated total initial investment: $2,405 to $3,200. An innovative entrepreneur, Mr. Rondeau was honored as an EY Entrepreneur of the Year and inducted into the UNH Alumni Entrepreneur Hall of Fame. We believe everyone should be able to make financial decisions with confidence. Largest Planet Fitness Franchisee Group Acquired by New York Private 1,600+ locations open and we're just getting started! industry. That said, Orangetheory is designed for people of all fitness levels, since participants can go entirely at their own pace. 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. Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). 1. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. Club Pilates North Shore is a boutique Pilates studio specializing in reformer fusion classes for anyone, at any age or fitness level. 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 . 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. Initial Franchise Fee: $20,000 The chain has over a thousand locations with over 400 units outside the US. Initial franchise terms are 10 years. Ms. Gentilozzi is a certified Senior Professional in Human Resources (SPHR). Assistant Assigning Editor | Small-business finance, personal finance. - In Mexican currency, the investment comes around Peso 20,19 million to Peso 88,33 million. [7] They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. Pure to Joseph Pilates' original Reformer-based Contrology Method, but modernized with group read more. [36], The company reports that as of 2019, there are 80 corporate-owned gyms, the rest independently owned and operated. United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. is growing quickly: In 2018, The Bar Method saw a 118% growth rate. Planet Fitness franchise is growing, and it is growing fast. - In Malaysian currency, the investment comes around MYR 3,93 million to MYR 17,21 million. 9 Best Gym Franchises - NerdWallet 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. According to their website, Pure Barre is the oldest and most established barre studio out there. Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. All told, their gyms boast over 14 million members worldwide. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. The estimated total investment necessary to begin the operation of a Planet Fitness Franchise ranges from $1,625,600 $4,921,000. 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 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. West Hampton, NH 03842, USA, Interested? We got you! On this Wikipedia the language links are at the top of the page across from the article title. Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing gym franchises in the United States. Even if your network of Planet Fitness franchises earns above $% a million, you will not be able to recover costs just by selling it. She received her Bachelors degree from Eastern Connecticut State University. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. Now, We Own 22 Locations", "What your new gym doesn't want you to know", "Planet Fitness vs. the lunkheads: Why is a health club trying to alienate people who love to work out? In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. Their website reads, We are not currently accepting new franchisee applications for US expansion.. Planet Fitness Franchise (Costs + Fees + FDD) | Franchise Direct ? You must maintain your equipment according to Planet Fitness brand standards. Orange Theorys success is quite similar to Pelotons rise to fame. To open a gym, a franchisee must have of $3 million with $1,500,000 in liquid assets. Start a Planet Fitness Franchise in 2023 - Entrepreneur Even after the pandemic hit, it continued to grow at a rate of over 100 units. Bill Bode serves as Division President, U.S. According to their website, Pure Barre is the oldest and most established barre studio out there. This covers the cost of being able to use their name and logo. This FREE 10-part progressive program will help you get movin'. Gathering all available information about each potential franchise will help you land on the gym that not only works for you financially, but that also resonates with your lifestyle and values. How Much Does A Planet Fitness Owner Make? - drfranchises.com Planet Fitness franchise was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. There are both advantages and disadvantages of franchising, so make sure you weigh both sides thoroughly. Compared to $145 million in 2020, they saw an increase of 44% from 2020 to 2021. Total Investment $728,290 - $3,777,800. Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. 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. Please confirm by clicking on the Cancel Subscriptionbutton below. from Boston University and an M.B.A. from the University of Denver, Daniels College of Business. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. PDF Together We Are Franchising Franchise Owners Marketing Lists - Dataman Group Direct This model has become extremely sticky in the fitness industry because while many people want to achieve their fitness goals, they innately lack motivation. 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 Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. Planet Fitness franchise is one of the largest fitness US chains by a number of members and locations. 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). | United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. Franchise Owners Contact Lists - FranchiseComplaints.org Paul Barber joined Planet Fitness in October 2022 as the Companys Chief Information Officer. Our partners compensate us. Office Depot, Planet Fitness, Roto Rooter, Starbucks, Taco Bell, Travelers, and United Health Group. In this role, she is responsible for all aspects of the companys internal and external communications, including public relations, crisis management, executive communications, philanthropy, community relations and sustainability. Are fitness franchises profitable in 2022? - Glofox Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. 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 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. Fitness Franchisee Contact Lists - FranchiseComplaints.org Comment. 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. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see. Fitness centers have experienced sustained growth since the post-economic crisis in 2009. [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. PLANET FITNESS - 57 Photos & 19 Reviews - Yelp ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. 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. The Judgement Free Zone was started to help first-time gym users feel more comfortable starting their fitness journey. [35], The net worth requirement for a Planet Fitness franchise is $3,000,000, while the liquid cash requirement is $1,500,000. Former Gov. If a fitness business with a franchise sounds good, heres nine of the most promising options for a gym franchise. 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. [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. Before the pandemic, it was growing at a rate of approximately 200 units a year, which is impressive. - In currency of the United Kingdom, the investment comes around 694,900 to 3,040,600. 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 document includes information about the franchises financial standing, capital requirements, franchisee training, and ongoing franchise fees, among other crucial information. Ms. Kaplan holds a B.S. Before joining NerdWallet, he served as senior editorial manager of QuinStreet's insurance sites and managing editor of Insure.com. The estimated total investment necessary to begin the operation of an Orange Theory Franchise ranges from $657,542 to $2,105,322. Except for signage, Planet Fitness will not require substantial remodeling more often than every 5 years during the term of the Franchise Agreement. We also suggest that you speak to 3 5 Planet Fitness owners before opening one yourself. 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. 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. Franchise fee: one-time $10,000 for a 10-year renewable agreement. 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. 1- Based on a midpoint investment of $3,273,300 with estimated profits of $77,293 at a 5% profit margin it would take about 42 years to recoup your investment. At the moment we can not connect you to the representative of this franchise. Since their start in 2002, Anytime Fitness has opened over 4,000 locations on all seven continents. This routine is an 18-minute HIIT workout that targets cardio and endurance. 1 comment. Ongoing Royalty Fee: $449 - $549/mo. Orange Theory uses your heart rate to show your exertion potential compared to the maximal effort and compares you to your peers in classes. Burn Boot Camp 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. Verizon Wireless, and Westin, just to name a very few. 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. Justin Vartanian serves as General Counsel and SVP, International Division overseeing all legal matters and international development. 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. From there, youll receive additional materials to help inform your decision, including the all-important franchise agreement, including the franchise disclosure document (FDD). Subscribe to our newsletters and keep up-to-date with the latest news in the franchise industry. [11][12] Berks had been catering to the bodybuilding culture in his Gold's Gym. All financial products, shopping products and services are presented without warranty. Have questions? Currently, Golds Gym franchise has available markets in almost every state across the country, and select international opportunities. Planet Fitness Announces 2019 Franchise Awards You are going to downgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. The difficult part of this step of the franchise buying due diligence process lies in obtaining a current list of Planet Fitness franchise owners. Their popularity mostly comes down to their unique business model: All Anytime Fitness locations are open 24 hours a day, seven days a week, and members can access any of those 4,000+ locations no matter where they are in the world. Jennifer Simmons joined Planet Fitness in 2013 as a business analyst, later joining the executive leadership team as Senior Vice President of Business Strategy and Analytics and in 2022 was named Division President, Corporate Clubs. Currently, the. Even more reason to consider investing in a gym franchise? Then, you will be in compliance with the LAF requirement if you spend an amount that satisfies the LAF obligations for all the Planet Fitness businesses in the aggregate. Ultimately, the only way to know which gym franchise is right for you is to do your own due diligence. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. 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. [19] According to a Planet Money episode from 2014, "half of the Planet Fitness members don't ever go to their gyms. The franchise requires that candidates have access to over $90,000 in liquid capital, and a minimum net worth of $300,000. Join PFIFC 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. 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 Franchise | Cost, Fees & Earning Stats (2023) 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. The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. Ms. Medeiros has been instrumental in developing and refining Planet Fitness marketing strategy and differentiated Judgement Free positioning in the fitness industry. Lead Assigning Editor | Small business finances, investing, banking. Franchise candidates can expect to pay anywhere between $354k to $1.2m. Paid by you to advertisers or Planet Fitness if it elects to collect from you. There are very few reasons why one might want to open a Planet Fitness franchise. Planet Fitness Franchise Planet Fitness Franchise Cost Worth the Profit? - Vetted Biz [6], In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. 6.4 miles away from Planet Fitness. Ms. Gosselin was named a Top Woman in PR by PR News in 2020. 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. 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 Training starts with one week at the companys San Francisco headquarters, followed up by three to six months of training, led by a dedicated trainer, in your home location. Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. 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. 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. Robert Beaupre leads the SMB team at NerdWallet. 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. The second Toronto location opened in early 2015. Planet Fitness estimates the total costs to re-equip your facility with both cardio equipment and all other exercise equipment will range from $314,000 to $922,000 every 5 to 7 years. 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. This large discrepancy indicates the potential different costs you could face when building your Orange Theory franchise as a franchisee. Get in touch with Planet Fitness Owners from around the US with verified contact data for all owners of all Planet Fitness locations. LearningRx Franchise Corporation 5085 List Drive, #200 Colorado Springs, CO 80919 Phone: (719) 264-8808 Liz Anderson . Orange Theory is currently headquartered in Boca Raton, FL, and is run by its CEO Dave Long who previously served as the main developer and owner of the European Wax Center. The graph below and the table that accompanies it depicts the total return to shareholders between 2015 and 2021 on Planet Fitness class A common stock relative to the performance of the S&P 500 Index and the Russell 2000. Sorry. However, this ultra-famous franchise is the most expensive on this list, with an estimated upfront investment potentially reaching over $5 million. 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. 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. ", "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. [14] Berks later went on to open the first Youfit Health Club in St. Petersburg, Florida. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. 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.