planet fitness franchise owners list

At the moment we can not connect you to the representative of this 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. - In Indian currency, the investment comes around Rs 7,14 crores to Rs 31,23 crores. [44][37] In 2016, over 90% of Planet Fitness locations were opened by existing franchise owners. 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. Building in competition to workouts enhances ones motivation and keeps consumers coming back. 1),[16] and in its 2016 ranking of franchises, Forbes magazine ranked Planet Fitness No. This metric is the standard industry investment amount for a single unit franchise investment in this industry. Franchise candidates can expect to pay anywhere between $354k to $1.2m. 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 Lets get started. 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. Previously, Mr. Fitzgerald served as Chief Administrative Officer of Sears Canada. 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. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. Even though its smaller than Pure Barre. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. This covers the cost of being able to use their name and logo. As a result, she has played an instrumental role in the major strategic decisions made by the Company. Today the brand has over 2,000 locations system-wide. Owning a. means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. Over the last three years, franchises have opened at a rate of 148 units a year. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. The name came from his daughter's school project, "Fitness Planet". 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. Ad Royalty Fee: $300/mo. The Planet Fitness initial franchise fee is $20,000. Estimated total initial investment: $2,405 to $3,200. He held multiple store operations positions with P&L responsibility progressing from Store Manager to Regional Manager. Find Accurate Contact Data for Fitness Franchise Owners. This investment is much higher than the industry standard of $253,000. In fact, in a recent Inc. 5000 list of the 10 fastest growing franchises, four were fitness franchises. Year Business Began: 1992. NerdWallet strives to keep its information accurate and up to date. Planet Fitness Independent Franchisee Council Join Us Today! ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. An individual planet fitness franchise owner can make around $513,00 to $5,554,000 annually. Bode was also responsible for U.S brand compliance and business development along with leadership positions overseeing training, store development, marketing, and franchising. Like. In this role, he is responsible for all aspects of financial strategy and management. [54][55] Also in 2016, the company donated more than $1 million to the program. Although gym franchises require that the owner has previous management experience, most dont require experience in the fitness industry. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. 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. "[23], In the fall of 2013, TSG Consumer Partners LLC became an equity partner in the Planet Fitness franchise. Office Depot, Planet Fitness, Roto Rooter, Starbucks, Taco Bell, Travelers, and United Health Group. He has covered financial topics as an editor for more than a decade. [11][12] Berks had been catering to the bodybuilding culture in his Gold's Gym. 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. Annually Updated with New Owners of Planet Fitness Locations in the USA. Mr. Hymes has over 30 years of experience leading domestic and international retail, franchise, and e-commerce businesses for global companies, most recently serving as the President and Chief Executive Officer of Jiffy Lube International. [49] [50], Since 2015, Planet Fitness has been a personal sponsor of NASCAR driver and champion Joey Logano. Prior to Sonus, he worked for more than 10 years in public accounting with both Deloitte and Touche and Arthur Andersen. has over 8,900 franchises across the country. Fitness centers have experienced sustained growth since the post-economic crisis in 2009. Since their start in 2002, Anytime Fitness has opened over 4,000 locations on all seven continents. We believe everyone should be able to make financial decisions with confidence. Ongoing Royalty Fee: $449 - $549/mo. Estimated total initial investment: $303,000 to $499,850. Orange Theory was ranked 49th in the franchise 500 rankings according to entrepreneur.com. 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. Prior to that he served as the Chief Operating Officer since 2003. industry. Many or all of the products featured here are from our partners who compensate us. $10,000, plus our reasonable out-of-pocket expenses, including external legal and administrative costs we incur in connection with the transfer. The policy states that "members and guests may use all gym facilities based on their sincere self-reported gender identity. Follow along as PF Trainer Teddy teaches you the basics of fitness, right in the comfort of your own home. If a fitness business with a franchise sounds good, heres nine of the most promising options for a gym franchise. As can be seen, Planet Fitness stock has outpaced the S&P 500 by almost 2x. [19] According to a Planet Money episode from 2014, "half of the Planet Fitness members don't ever go to their gyms. We offer the most complete and most accurate mailing/telemarketing list for Planet Fitness franchise owners. For example, this includes replacing your cardio equipment every 5 years and replacing your non-cardio equipment every 7 years. 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. 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. This large discrepancy indicates the potential different costs you could face when building your Orange Theory franchise as a franchisee. Mr. Fitzgerald began his career at PepsiCo, where he held various leadership roles in finance and planning. There are some units of Planet fitness franchisees making more than that or some making less than that. Investing in an Orange Theory franchise is an interesting opportunity, especially for individuals looking to make their way into the Fitness industry. Estimated total initial investment: $58,870 to $521,437. According to their website, Pure Barre is the oldest and most established barre studio out there. 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 second Toronto location opened in early 2015. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. Even more reason to consider investing in a gym franchise? 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. 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. LearningRx Franchise Corporation 5085 List Drive, #200 Colorado Springs, CO 80919 Phone: (719) 264-8808 Liz Anderson . The graph includes a comparison against the Russell because there is no industry benchmark or line-of-business index for the fitness industry or a peer group that is publicly traded. Wed recommend meeting with your bank or accountant to help you determine which franchise is financially doable for you right now. Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). Annually Updated with New Owners of Planet Fitness Locations in the USA. He joined Planet Fitness in 2016 as the Senior Vice President of Franchise Operations. The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. The chain has over a thousand locations with over 400 units outside the US. The total investment to open a Planet Fitness gym ranges from $728,290 - $3,777,800. - In currency of Germany, the investment comes around EUR 805,430 to EUR 3,524,180. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. You'll build confidence while increasing your fitness knowledge. 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). Edward Hymes joined Planet Fitness in January 2023 as President and Chief Operating Officer. 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 Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. So long as you are not decided on the fitness industry, we recommend you have a look at other offerings. 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. 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. Initial franchise fee: $32,000 to $40,000, Estimated total initial investment: $2.2 million to $5 million. 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). All told, their gyms boast over 14 million members worldwide. 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. 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? Mr. Fitzgerald holds an MBA in Finance from Indiana University Kelley School of Business and received his Bachelors degree in Finance from the University of Florida. Therefore, this may include substantial remodeling of your premises as frequently as every 5 years. Its also a good idea to reach out to at least a few former Planet Fitness franchisees to find out why they left or were terminated from the franchise system. All financial products, shopping products and services are presented without warranty. The highest Planet Fitness franchise made over 3 million dollars in revenue, whereas the lowest earning one made $165,000. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. 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. Planet Fitness franchise costs, based on Item 7 of the company's 2022 FDD: Initial Franchise Fee: $20,000 Site Selection Costs: $0 to $10,000 Construction Development Plan Review Fee: $0 to $4,000 Leasehold Improvements: $1,250,000 to $2,163,000 Fitness Equipment: $34,000 to $953,000 Non-Fitness Equipment: $63,000 to $825,000 - In Saudi Arabia currency, the investment comes around SR 3,64 million to SR 15,91 million. This model has become extremely sticky in the fitness industry because while many people want to achieve their fitness goals, they innately lack motivation. Orange Theory Franchise was founded in Boca Raton, Florida in 2009. 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. Golds Gym also requires that potential franchisees have a minimum of $1 million in net worth and $400,000 in liquid assets. But buying into a gym franchise is a less risky venture than building a gym from the ground up. This document includes information about the franchises financial standing, capital requirements, franchisee training, and ongoing franchise fees, among other crucial information. You will pay a lump-sum nonrefundable Initial Franchise Fee in the amount of $20,000 when you sign the Franchise Agreement. 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. [21] Some bodybuilders and weight lifters have found the way they're portrayed in Planet Fitness TV commercials to be offensive, and the way they're treated in Planet Fitness gyms to be "quite possibly discriminatory. [13] The new model was an effort to provide a fitness hub for everyday people. Share. Please renew to keep using our services. The Fitness Center industry has over 111,000 businesses with a market size of $34 billion, and it supports over 800,000 jobs. After you cover your startup costs, your total gross monthly take could greatly exceed your expectations, depending on how many memberships you sell. [48], Since December 2014, Planet Fitness has been the official fitness sponsor of Dick Clark's New Year's Rockin' Eve on ABC. Ms. Kaplan has over 20 years of experience, most recently serving as Global Marketing Operations Advisor for Advent International, a global private equity firm. 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. 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 total investment ranges from $728,290 to $3,777,800. In other words, franchising takes most of the heavy lifting off your shoulders. In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. [36], The company reports that as of 2019, there are 80 corporate-owned gyms, the rest independently owned and operated. ASK QUESTIONS ABOUT THE FRANCHISE, Distributorship Opportunities For Business, the terms of The Planet Fitness franchise sets itself apart from other gyms by being the "Judgement Free Zone" where everyone can feel comfo. 1,600+ locations open and we're just getting started! Then, the last four workouts in the program will take place in the gym and you'll learn how . Please confirm by clicking on the Cancel Subscriptionbutton below. In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. FranchiseComplaints.org Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). - In Canadian currency, the investment comes around Can$ 1,231,300 to Can$ 5,387,800. [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. Planet Fitness franchisees also compete against other smaller gym and fitness business locations. Former Gov. Ultimately, the only way to know which gym franchise is right for you is to do your own due diligence. Prior to joining Planet Fitness, Mr. Vartanian was a corporate attorney at Devine Millimet. Justin Vartanian serves as General Counsel and SVP, International Division overseeing all legal matters and international development. 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. Planet Fitness (PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. Absentee Ownership Allowed, Planet Fitness Franchise Info: https://www.planetfitness.com. The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. 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. Club Pilates North Shore is a boutique Pilates studio specializing in reformer fusion classes for anyone, at any age or fitness level. Review the chart below to see how much it costs to buy a Planet Fitness franchise in 2022. This is significantly lower than the midpoint investment of $3,273,500. 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. [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. If you are thinking about how to open a Planet Fitness franchise, begin with a franchise investment information. Ms. Medeiros received her Bachelors degree from the University of New Hampshire. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. 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. They opened a new gym called Coastal Fitness and the Grondahls hired current CEO. 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. They opened a new gym called Coastal Fitness and the Grondahls hired current CEO Chris Rondeau, who was still in college at the time, to run the gyms front desk. 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. Franchise fee: one-time $10,000 for a 10-year renewable agreement. Comment. United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. 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. To open a gym, a franchisee must have of $3 million with $1,500,000 in liquid assets. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. Before the pandemic, it was growing at a rate of approximately 200 units a year, which is impressive. Currently, the. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. 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. https://www.palmbeachpost.com/story/business/2012/05/19/at-youfit-health-clubs-patrons/7332606007/, "Planet Fitness headquarters moving to Hampton", "Planet Fitness Sets New Membership Records", "4 international franchises that landed Down Under in 2019", "The fastest-growing gym in America has $10 memberships and gives out free pizza, bagels, and candy", "Fit for franchising: From first gym in Dover, Planet Fitness building big brand", https://www.franchise-info.ca/franchise_news/2014/01/how-planet-fitness-became-the-leader-in-fitness-franchising.html#.Y-Hc-BZMEWM, "How Planet Fitness Became the Leader in Fitness Franchising - News", "Marc Grondahl of Planet Fitness: How a Lean Business Model Became a Franchise Heavyweight", "YouFit Health Club expanding across South Florida, around nation | The Starting Gate", "No-frills gym offers fitness without flash", "Fast and Serious: FT ranks the smartest-growing brands", "Franchise Players: We Were Planet Fitness's First Franchisees.