[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. History of Planet Fitness in Timeline - Popular Timelines Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. Many or all of the products featured here are from our partners who compensate us. 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. Initial term lengths last 10 years. Due Date: Paid monthly and annually. You must maintain the franchise premises according to Planet Fitness brand standards. We offer detailed franchise research and contact data reports. 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. 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 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. On this Wikipedia the language links are at the top of the page across from the article title. Both of these fitness companies, while they differ in business models, use your own fitness data and others to create a competitive atmosphere. Today the brand has over 2,000 locations system-wide. LearningRx Franchise Corporation 5085 List Drive, #200 Colorado Springs, CO 80919 Phone: (719) 264-8808 Liz Anderson . Please scroll down for a partial list of franchise businesses. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. Fitness Franchisee Contact Lists - FranchiseComplaints.org Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. Investing in an Orange Theory franchise is an interesting opportunity, especially for individuals looking to make their way into the Fitness industry. [32][33], Planet Fitness started franchising units in 2003. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. Initial term lengths last 10 years. 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. 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. As can be seen, Planet Fitness stock has outpaced the S&P 500 by almost 2x. Therefore, this may include substantial remodeling of your premises as frequently as every 5 years. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. 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. Planet Fitness franchise is one of the largest fitness US chains by a number of members and locations. Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). [36], The company reports that as of 2019, there are 80 corporate-owned gyms, the rest independently owned and operated. Follow along as PF Trainer Teddy teaches you the basics of fitness, right in the comfort of your own home. 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 following costs are part of the upfront costs included in the initial investment for Planet Fitness locations. Throughout her tenure, she has held roles of increasing responsibility, with her most recent position being Vice President of National Marketing. Absentee Ownership Allowed, Planet Fitness Franchise Info: https://www.planetfitness.com. 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. Their website reads, We are not currently accepting new franchisee applications for US expansion.. process lies in obtaining a current list of Planet Fitness franchise owners. Over the last three years, franchises have opened at a rate of 148 units a year. It offers classes for dance, aqua, cycle, box, pilates, and many more. Start a Planet Fitness Franchise in 2023 - Entrepreneur [61], In January 2020, Planet Fitness partnered with The Biggest Loser to be the official sponsor of the show's 2020 reboot.[62]. 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. The total investment ranges from $728,290 to $3,777,800. Planet Fitness Franchise Cost Worth the Profit? - Vetted Biz 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). This metric is the standard industry investment amount for a single unit franchise investment in this industry. 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. With that said, a Planet Fitness franchise . Reaching out to multi-unit franchise owners and regional developers gives you the ability to get your products and services into many locations with just one sale . [47] The contestants on the show worked out on Planet Fitness equipment and then at Planet Fitness gyms near their homes, working with Planet Fitness instructors. The initial Planet Fitness Franchise Fee is $20,000. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105. Our partners compensate us. From the start, Planet Fitnesswas an inclusive, non-intimidating gym and in 1997, Planet Fitness officially unveiled its Judgement Free Zone philosophy. All initial fees are the same for both initial and conversion franchises. This is significantly lower than the midpoint investment of $3,273,500. - In Mexican currency, the investment comes around Peso 20,19 million to Peso 88,33 million. Initial franchise fee: $32,000 to $40,000, Estimated total initial investment: $2.2 million to $5 million. 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. Cash Required $1,500,000. In her role as Chief Brand Officer, she is responsible for leading Planet Fitness brand strategy and working collaboratively with agencies and across the organization to ensure the brand vision comes to life through national and local marketing strategy, creative, brand marketing sponsorships and activations, and social media. Pure Barre has over 500 open locations across North America with tons of available studio markets in the U.S. Initial Franchise Fee: $20,000 . [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. Comment. [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. Net Worth Requirement: $3,000,000 [14] Berks later went on to open the first Youfit Health Club in St. Petersburg, Florida. There are both advantages and disadvantages of franchising, so make sure you weigh both sides thoroughly. 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. Corporate Governance - Management Team - Planet Fitness This FREE 10-part progressive program will help you get movin'. 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. 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. Mr. Barber has over 20 years of experience in leadership experience across a variety of industries, most recently serving as the Senior Vice President of Information Technology at United Natural Foods Inc. [34] The royalty fee for a Planet Fitness is 7% of the total gross monthly and annual membership fees. NerdWallet strives to keep its information accurate and up to date. In this role, he is responsible for all aspects of financial strategy and management. The policy states that "members and guests may use all gym facilities based on their sincere self-reported gender identity. You will pay a lump-sum nonrefundable Initial Franchise Fee in the amount of $20,000 when you sign the Franchise Agreement. [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. You'll build confidence while increasing your fitness knowledge. 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. To open a gym, a franchisee must have of $3 million with $1,500,000 in liquid assets. Wed recommend meeting with your bank or accountant to help you determine which franchise is financially doable for you right now. Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing gym franchises in the United 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. Assistant Assigning Editor | Small-business finance, personal finance. Planet Fitness franchise was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. Benson is back on the board of Planet Fitness 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. This document includes information about the franchises financial standing, capital requirements, franchisee training, and ongoing franchise fees, among other crucial information. List to Contact Planet Fitness Franchise Owners - Planet Fitness Owners Contact List. Across 50 states the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia [16] Planet Fitness became known as the "Judgement Free Zone", aimed more at the average user than the bodybuilder type of fitness enthusiast. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. - In Saudi Arabia currency, the investment comes around SR 3,64 million to SR 15,91 million. You may need additional operating capital, or you may need it for a longer period of time. With this purchase, which was for an undisclosed amount, United PF's club count has . The initial Planet Fitness Franchise Fee is $20,000. Fitness franchises are currently booming with the largest franchises globally being Anytime Fitness and Planet Fitness. [49] [50], Since 2015, Planet Fitness has been a personal sponsor of NASCAR driver and champion Joey Logano. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. Estimated total initial investment: $304,500 to $2.1 million. Franchising Since: 2000. Benson, who co-founded the former Cabletron Systems, once the . 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. That way, participants can both track their own progress, and see how it stacks up to other people in the classso if you thrive on competition, this is the gym franchise for you. In her role as Division President, Corporate Clubs, Ms. Simmons will be responsible for leading the Company's Corporate Club portfolio including driving overall performance, leading and developing the team, and identifying strategic growth and expansion opportunities of the brand's corporate store fleet, which consists of more than 200 locations across 14 states and Canada. Franchise. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. The more franchises you own, the more earning potential you have as private equity firms become interested in your business instead of individual owner-operators. Total Investment $728,290 - $3,777,800. industry. However, this does not influence our evaluations. We started our business in 1992 and refined our brand for a decade or so before franchising in 2003. Annually Updated with New Owners of Planet Fitness Locations in the USA. Estimated total initial investment: $303,000 to $499,850. Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. Even more reason to consider investing in a gym franchise? Here is a list of our partners and here's how we make money. Pre-qualified offers are not binding. Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. We believe everyone should be able to make financial decisions with confidence. - In currency of the United Kingdom, the investment comes around 694,900 to 3,040,600. 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. Throughout his tenure at Dunkin Brands, Mr. Ms. Kaplan holds a B.S. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. 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. 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 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. Our franchise contact lists contain contact details for both owners of single franchise units and multi-unit franchise owners, that is, franchisees that own many franchised locations. 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. Planet Fitness estimates the costs to upgrade and/or remodel your facility will range from $70,000 to $600,000 every 5 years. Franchise Owners Contact Lists - FranchiseComplaints.org Planet Fitness franchisees also compete against other smaller gym and fitness business locations. However, this ultra-famous franchise is the most expensive on this list, with an estimated upfront investment potentially reaching over $5 million. 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. This model has become extremely sticky in the fitness industry because while many people want to achieve their fitness goals, they innately lack motivation. 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. [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. [41][42] In October 2015 the company opened their second international location in Santo Domingo, Dominican Republic. Of the total gross monthly and annual membership fees payable to you via EFT Dues Draft. Planet Fitness | Judgement Free Zone | Gym and Fitness Club 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. 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. Initial franchise terms are 10 years. You'll also benefit from . 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. Orangetheory Fitness provides a totally unique (and seriously hard) group workout experience. 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. Estimated total initial investment: $2,405 to $3,200. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. Initial franchise terms are 10 years. There are some units of Planet fitness franchisees making more than that or some making less than that. The Best Fitness Franchises You Can Buy - Trafft