[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. [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. Annually Updated with New Owners of Planet Fitness Locations in the USA. - In currency of Germany, the investment comes around EUR 805,430 to EUR 3,524,180. 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. NerdWallet strives to keep its information accurate and up to date. Performing this action will delete your account. 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. 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. Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. [13] The new model was an effort to provide a fitness hub for everyday people. [14] Berks later went on to open the first Youfit Health Club in St. Petersburg, Florida. Under Rondeau's 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' America's Best Franchises, Newsweek Best Customer Service, and Best Places to Work in New Hampshire. 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. Fitness franchises are currently booming with the largest franchises globally being Anytime Fitness and Planet Fitness. 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. 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. To open a gym, a franchisee must have of $3 million with $1,500,000 in liquid assets. 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. Before joining NerdWallet, he served as senior editorial manager of QuinStreet's insurance sites and managing editor of Insure.com. Planet Fitness franchise opportunities are proven by 1,500 clubs successfully operating worldwide. They opened a new gym called Coastal Fitness and the Grondahls hired current CEO. Estimated total initial investment: $58,870 to $521,437. Like. Even if your network of Planet Fitness franchises earns above $% a million, you will not be able to recover costs just by selling it. 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. Estimated total initial investment: $198,650 to $446,250. In this role, he leads all aspects of our U.S. You must maintain the franchise premises according to Planet Fitness brand standards. 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. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. Pre-qualified offers are not binding. Find Accurate Contact Data for Fitness Franchise Owners. Follow along as PF Trainer Teddy teaches you the basics of fitness, right in the comfort of your own home. [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. LearningRx Franchise Corporation 5085 List Drive, #200 Colorado Springs, CO 80919 Phone: (719) 264-8808 Liz Anderson . Even though its smaller than Pure Barre. Our opinions are our own. Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing gym franchises in the United States. Paid Grace Period. Jamie Medeiros joined Planet Fitness in 2000, where she worked at the front desk in the Companys third location before transitioning to the Planet Fitness corporate marketing team. 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. [6], In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. This article originally appeared on JustBusiness, a subsidiary of NerdWallet. By becoming a franchise owner, you can benefit from a proven business model, existing customer base, and franchisee support system. Estimated total initial investment: $1 million to $4.1 million. [11][12] Berks had been catering to the bodybuilding culture in his Gold's Gym. According to Franchise Direct, the initial franchise fee is $20,000, while the area development fee is $10,000. The private equity owners of United PF Partners, the largest Planet Fitness franchisee conglomerate, have sold the group to American Securities, another New York-based private equity firm, for an undisclosed sum, the companies announced in a Jan. 6 media release. 1,600+ locations open and we're just getting started! [47], In March 2013, Planet Fitness partnered with 50 Cent to sell his energy drink "Street King". Total Investment $728,290 - $3,777,800. An innovative entrepreneur, Mr. Rondeau was honored as an EY Entrepreneur of the Year and inducted into the UNH Alumni Entrepreneur Hall of Fame. 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 reactions: 8. [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. Here is a list of our partners and here's how we make money. [44][37] In 2016, over 90% of Planet Fitness locations were opened by existing franchise owners. 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. They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. This covers the cost of being able to use their name and logo. If a fitness business with a franchise sounds good, heres nine of the most promising options for a gym franchise. To open a gym, a franchisee must have a net worth of $3 million with a minimum of $1,500,000 in liquid assets. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. 2% of the total gross monthly EFT Dues Draft. Orange Theorys success is quite similar to Pelotons rise to fame. 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. Assistant Assigning Editor | Small-business finance, personal finance. | United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. 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. 1. 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. Building in competition to workouts enhances ones motivation and keeps consumers coming back. - In Philippine currency, the investment comes around Php 47,15 million to Php 206,34 million. You are going to upgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. We now have: 2,400+ locations open (and we're just getting started!) When evaluating offers, please review the financial institutions Terms and Conditions. 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 and location of your Planet Fitness business. [49] [50], Since 2015, Planet Fitness has been a personal sponsor of NASCAR driver and champion Joey Logano. 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. Prior to Jiffy Lube, he served on Shells global Downstream Acquisitions & Divestments Leadership Team with responsibility for transaction delivery across North and South America. 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. The highest Planet Fitness franchise made over 3 million dollars in revenue, whereas the lowest earning one made $165,000. You have to pay this upfront fee when opening a Planet Fitness franchise. The estimated total investment necessary to begin the operation of a Planet Fitness Franchise ranges from $1,625,600 $4,921,000. 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 . The Planet Fitness initial franchise fee is $20,000. 6.4 miles away from Planet Fitness. You are going to downgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. Orange Theory was ranked 49th in the franchise 500 rankings according to entrepreneur.com. The $10 per month level includes access to cardio and strength equipment, unlimited group fitness instruction and pizza and bagels once a month; the $24.99 per month ("Black Card") level allows members to bring one guest per day at no charge, access to all Planet Fitness locations, and access to extra amenities, such as tanning booths, massage chairs, red light therapy and water massage beds. - In currency of the United Kingdom, the investment comes around 694,900 to 3,040,600. Rated Excellent on TrustPilot with feedback from 50+ customers. From there, youll receive additional materials to help inform your decision, including the all-important franchise agreement, including the franchise disclosure document (FDD). Ms. Medeiros received her Bachelors degree from the University of New Hampshire. With that said, a Planet Fitness franchise . All told, their gyms boast over 14 million members worldwide. Ongoing Royalty Fee: $449 - $549/mo. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. Franchise fee: one-time $10,000 for a 10-year renewable agreement. is growing quickly: In 2018, The Bar Method saw a 118% growth rate. [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. Franchising began one year later, and today Orange Theory studios can be found in 18 countries, and across 49 states. Estimated Number of Units: 2,300. Investing in an Orange Theory franchise is an interesting opportunity, especially for individuals looking to make their way into the Fitness industry. 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. 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. Justin Vartanian serves as General Counsel and SVP, International Division overseeing all legal matters and international development. - In Indian currency, the investment comes around Rs 7,14 crores to Rs 31,23 crores. 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. [35], The net worth requirement for a Planet Fitness franchise is $3,000,000, while the liquid cash requirement is $1,500,000. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. 4 Liberty Ln. 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. 1 comment. 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. was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. 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. Theyll provide you with a personal support team, comprehensive training, and marketing support over the course of your franchise agreements six-year term (or 10, if youre in California). 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. 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. For example, this includes replacing your cardio equipment every 5 years and replacing your non-cardio equipment every 7 years. Except for signage, Planet Fitness will not require substantial remodeling more often than every 5 years during the term of the Franchise Agreement. 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 Subscribe to our newsletters and keep up-to-date with the latest news in the franchise industry. ? At the moment we can not connect you to the representative of this franchise. All initial fees are the same for both initial and conversion franchises. 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 Estimated total initial investment: $303,000 to $499,850. 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. Initial term lengths last 10 years. [17], As part of their effort to create a non-intimidating environment, Planet Fitness has alienated many serious weight lifters. Owner WIRED Telcom 159 W 1st Street Oswego, NY 13126 Phone: (315) 326-3350 . In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. That said, as of June 2022, Planet Fitness has paused offering franchises. This, too, is best evaluated with the help of an accountant or business lawyer, who can help you break down the fine print. Across 50 states the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia Prior to that, Ms. Gentilozzi served as Senior Vice President of Human Resources at Aropostale, supporting over 25,000 employees in 1,000 retail locations throughout the U.S., Canada, and Puerto Rico. Here is a list of our partners. Kathy Gentilozzi joined Planet Fitness in 2019 as the Companys Chief People Officer. That said, Orangetheory is designed for people of all fitness levels, since participants can go entirely at their own pace. "[21] Planet Fitness has been criticized for prohibiting certain weightlifting exercisessuch as deadlifts and clean-and-jerksthat many experts believe are highly effective. Thanks to that near-legendary status in the fitness world, and their loyal customers. [54][55] Also in 2016, the company donated more than $1 million to the program. Your experience may vary depending on whether you finance tenant improvements, your location, and other factors. Initial franchise terms are 10 years. . But perhaps most important to this process is interviewing current franchisees. Estimated total initial investment: $2,405 to $3,200. 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. [22] In 2010, Men's Health magazine called Planet Fitness "the worst gym in America. 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. Orangetheory Fitness provides a totally unique (and seriously hard) group workout experience. We believe everyone should be able to make financial decisions with confidence. It offers classes for dance, aqua, cycle, box, pilates, and many more. 4. Ms. Kaplan has over 20 years of experience, most recently serving as Global Marketing Operations Advisor for Advent International, a global private equity firm. 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 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. With this purchase, which was for an undisclosed amount, United PF's club count has . Prior to that, she served as the Vice President of Digital Marketing & Innovation at Dunkin Brands where she was responsible for developing and marketing Dunkins digital platforms, including the DD Mobile app and the DD Perks loyalty program. The fitness center industry has grown with the rise in disposable income and demand for a more health-conscious lifestyle among millennials. So long as you are not decided on the fitness industry, we recommend you have a look at other offerings. 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.