And while our site doesnt feature every company or financial product available on the market, were proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward and free. Justin Vartanian serves as General Counsel and SVP, International Division overseeing all legal matters and international development. To be eligible to open a Crunch Fitness franchise, candidates must have at least $1 million in net worth and access to $300,000 to $400,000 in liquid assets. [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. 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. The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. Kathy Gentilozzi joined Planet Fitness in 2019 as the Companys Chief People Officer. The name came from his daughter's school project, "Fitness Planet". 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. Planet Fitness Announces Winners of Annual Franchisee Awards - PR Newswire Initial term lengths last 10 years. 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. Prior to joining Planet Fitness, Mr. From there, youll receive additional materials to help inform your decision, including the all-important franchise agreement, including the franchise disclosure document (FDD). Follow along as PF Trainer Teddy teaches you the basics of fitness, right in the comfort of your own home. 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. Corporate Governance - Management Team - Planet Fitness You have to pay this upfront fee when opening a Planet Fitness franchise. 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. In other words, franchising takes most of the heavy lifting off your shoulders. If a fitness business with a franchise sounds good, heres nine of the most promising options for a gym franchise. The Best Fitness Franchises You Can Buy - Trafft 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. Order now to get instant access to the complete Planet Fitness franchise owners. If you are thinking about how to open a Planet Fitness franchise, begin with a franchise investment information. Edward Hymes joined Planet Fitness in January 2023 as President and Chief Operating Officer. Prior to that he served as the Chief Operating Officer since 2003. All told, their gyms boast over 14 million members worldwide. This is a good indication of high growth as a company overall. Estimated annual transaction costs per location range from $9,000- $72,000, Equal to 50% of our then-current initial franchise fee. Prior to Sonus, he worked for more than 10 years in public accounting with both Deloitte and Touche and Arthur Andersen. Franchise Sales Manager Planet Fitness 4 Liberty Lane West Hampton, NH 03842 Phone: (603) 750-0001 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. Mr. Rondeau joined Planet Fitness in 1993, working the front desk at the very first location in Dover, NH, one year after the original founders, Michael and Marc Grondahl, started the Company in 1992. 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 The following costs are part of the upfront costs included in the initial investment for Planet Fitness locations. 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. But buying into a gym franchise is a less risky venture than building a gym from the ground up. 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. Ms. Medeiros has been instrumental in developing and refining Planet Fitness marketing strategy and differentiated Judgement Free positioning in the fitness industry. [28] It ranked in the top 50 of Entrepreneur magazine's Franchise 500 in 2017. The fitness center industry is mainly divided into two groups, either a specialized fitness boutique or a full-scale gym with multiple amenities and services. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. 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. 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. Bode was also responsible for U.S brand compliance and business development along with leadership positions overseeing training, store development, marketing, and franchising. Ms. Kaplan has over 20 years of experience, most recently serving as Global Marketing Operations Advisor for Advent International, a global private equity firm. Estimated total initial investment: $58,870 to $521,437. Franchise fee: one-time $42,500 Royalty fees: $699/mo Planet Fitness Planet fitness has locations in Canada, Mexico, Panama, and all 50 states of the US. 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. Orangetheory claims to be one of the fastest-growing franchises in the world, and theyre ranked 60th in Inc. Magazines Fastest Growing Private Companies List. 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. This FREE 10-part progressive program will help you get movin'. United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. . 10 Qualities of Highly Successful Fitness Franchise Owners 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. Benson is back on the board of Planet Fitness Franchising Since: 2000. Verizon Wireless, and Westin, just to name a very few. Mr. ODonnell holds a CPA and received his Bachelors degree in Accounting from Assumption College in Massachusetts. 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. 1 comment. Initial franchise terms are 10 years. There are both advantages and disadvantages of franchising, so make sure you weigh both sides thoroughly. You are going to downgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. Franchise. [14] Berks later went on to open the first Youfit Health Club in St. Petersburg, Florida. 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. Prior to Planet Fitness, Ms. Gosselin worked at Dunkin Brands on the global public relations team. Paid by you to advertisers or Planet Fitness if it elects to collect from you. By becoming a franchise owner, you can benefit from a proven business model, existing customer base, and franchisee support system. The most popular workout model from Snap Fitness is known as MYFIT. 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. 1,600+ locations open and we're just getting started! At the moment we can not connect you to the representative of this franchise. - In Saudi Arabia currency, the investment comes around SR 3,64 million to SR 15,91 million. - In Mexican currency, the investment comes around Peso 20,19 million to Peso 88,33 million. We believe that this franchise is an option for those that are passionate about fitness and are willing to put in the hours to make the business run smoothly. McCall Gosselin joined Planet Fitness in January 2013 and currently serves as SVP of Communications and Corporate Social Responsibility. Planet Fitness Franchise Cost & Fees | How To Open | Opportunities And Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. This document includes information about the franchises financial standing, capital requirements, franchisee training, and ongoing franchise fees, among other crucial information. As a franchise owner, youll benefit from a proven business model, brand recognition, existing customer base, vendor network, and robust franchisee support system. The Initial Franchise Fee is uniform and non-refundable. Total Investment $728,290 - $3,777,800. industry. 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. Orange Theory Franchise was founded in Boca Raton, Florida in 2009. Are fitness franchises profitable in 2022? - Glofox 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 . We believe everyone should be able to make financial decisions with confidence. Planet Fitness offers people the opportunity to be a part of the fitness business, but we do not believe this is sustainable. Across 50 states the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia 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. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. Looks like your subscription is due. In addition, he served as an online media manager for the University of Nevada, Reno. 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. Thanks to that near-legendary status in the fitness world, and their loyal customers. Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. Ms. Gentilozzi has more than 30 years of Human Resources leadership experience at national retail brands, most recently serving as Executive Vice President of Human Resources at FULLBEAUTY Brands where she led all HR initiatives to support 2,000 associates. 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. [46], Planet Fitness reported that it has around 2,400 gyms worldwide with a total membership of 17 million, generating an annual revenue of $936.8 million at the end of 2022. All reactions: 8. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. Comment. Planet Fitness franchisees also compete against other smaller gym and fitness business locations. This influences which products we write about and where and how the product appears on a page. 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. Today, there are Planet Fitness franchise locations around the U.S. as well as Canada and the Dominican Republic. 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. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. To assign a valuation multiple for Planet Fitness franchises, we leverage estimates from DealStats, a database of acquired private company transactions sourced from U.S. business brokers and SEC filings. 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. Even more reason to consider investing in a gym franchise? We reviewed the larger franchise industry as well as selling price multiples for larger systems where more transaction data is available. 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 - In currency of Germany, the investment comes around EUR 805,430 to EUR 3,524,180. Even after the pandemic hit, it continued to grow at a rate of over 100 units. NerdWallet strives to keep its information accurate and up to date. Headquarters: Hampton, New Hampshire. 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. 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. Your actual costs may be higher or lower depending on the size and location of your Planet Fitness business. [60], In October 2017, Planet Fitness and its members raised $1 million which it donated to the non-profit Boys and Girls Clubs of America. 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. Here is a list of our partners. 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 In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. Planet Fitness franchise is growing, and it is growing fast. [47], In March 2013, Planet Fitness partnered with 50 Cent to sell his energy drink "Street King". 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.
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