planet fitness franchise owners list

Franchise Description: Planet Fitness Franchising LLC is the franchisor.The ultimate parent company is Planet Fitness, Inc. Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). The estimated total investment necessary to begin the operation of an Orange Theory Franchise ranges from $657,542 to $2,105,322. [29], In 2020, the company received criticism for charging its customers for March dues "despite closing its facilities nationwide due to the novel coronavirus pandemic. Pure to Joseph Pilates' original Reformer-based Contrology Method, but modernized with group read more. Paul Barber joined Planet Fitness in October 2022 as the Companys Chief Information Officer. You have to pay this upfront fee when opening a Planet Fitness franchise. Previously, she was an editor at Fundera, where she developed service-driven content on topics such as business lending, software and insurance. Who Owns Planet Fitness? (Franchise, CEO & More) - Trusty Spotter Bringing Franchise Owners Together to Share and Grow. 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. We now have: 2,400+ locations open (and we're just getting started!) It offers classes for dance, aqua, cycle, box, pilates, and many more. 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. One of the best ways to thoroughly research a franchise or business opportunity investment before purchasing one is to get feedback from current and former franchisees involved in the franchise system. You are going to downgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. 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. [11][12] Berks had been catering to the bodybuilding culture in his Gold's Gym. We reviewed the larger franchise industry as well as selling price multiples for larger systems where more transaction data is available. This routine is an 18-minute HIIT workout that targets cardio and endurance. Orange Theory was ranked 49th in the franchise 500 rankings according to entrepreneur.com. 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. The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. [17], As part of their effort to create a non-intimidating environment, Planet Fitness has alienated many serious weight lifters. 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. There are some units of Planet fitness franchisees making more than that or some making less than that. [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. 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. [5] It markets itself as a "Judgement Free Zone" that caters to novice and casual gym users, and has faced both praise and criticism for its atmosphere. 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. PLANET FITNESS - 57 Photos & 19 Reviews - Yelp These figures are estimates based on Planet Fitness and its affiliates experience in operating locations. McCall Gosselin joined Planet Fitness in January 2013 and currently serves as SVP of Communications and Corporate Social Responsibility. 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. [16] Planet Fitness became known as the "Judgement Free Zone", aimed more at the average user than the bodybuilder type of fitness enthusiast. Total Investment $728,290 - $3,777,800. The Planet Fitness franchise was founded in 1992 and has been franchising since 2003. However, the profit varies on your location also. 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. Orange Theorys success is quite similar to Pelotons rise to fame. 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. Their website reads, We are not currently accepting new franchisee applications for US expansion.. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. 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. Verizon Wireless, and Westin, just to name a very few. [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. [8][9][7] In 2002, they purchased the rights to the name Planet Fitness from Rick Berks and renamed their franchise. This metric is the standard industry investment amount for a single unit franchise investment in this industry. 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. Chris Rondeau has served as the Chief Executive Officer of Planet Fitness since January 2013. In 2020, he joined the International Franchise Association (IFA) Board of Directors; board members are drawn from a world-class set of franchise brands. Owner WIRED Telcom 159 W 1st Street Oswego, NY 13126 Phone: (315) 326-3350 . Fitness centers have experienced sustained growth since the post-economic crisis in 2009. 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. Before joining NerdWallet, he served as senior editorial manager of QuinStreet's insurance sites and managing editor of Insure.com. Planet Fitness businesses are fitness training facilities offering exercise machines and free weights, fitness training services, tanning services . [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. The estimated total investment necessary to begin the operation of a Planet Fitness Franchise ranges from $1,625,600 $4,921,000. The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. You may need additional operating capital, or you may need it for a longer period of time. 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 So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. 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. If a fitness business with a franchise sounds good, heres nine of the most promising options for a gym franchise. Ms. Simmons has an MBA in Finance from the University of New Hampshire and holds dual Bachelors degrees in Economics and Sociology from Indiana University. 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. Fitness franchises are currently booming with the largest franchises globally being Anytime Fitness and Planet Fitness. By contacting current franchise owners and asking about their experience with the franchised business, the earnings and/or success thus far, training and support from the franchisor, Pla-FitFranchise, and whether or not they would buy the franchise again if they could do it all over again, you can learn what its really like to own a Planet Fitness business before you actually purchase a franchise. The Grondahls changed the gyms name to Planet Fitness in 1994. - In Indian currency, the investment comes around Rs 7,14 crores to Rs 31,23 crores. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see the mustache commercial? United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. List to Contact Planet Fitness Franchise Owners - Planet Fitness Owners Contact List. However, this ultra-famous franchise is the most expensive on this list, with an estimated upfront investment potentially reaching over $5 million. The policy states that "members and guests may use all gym facilities based on their sincere self-reported gender identity. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. Before the pandemic, it was growing at a rate of approximately 200 units a year, which is impressive. 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. They provide an affordable, high-quality fitness experience in a welcoming environment. Headquarters: Hampton, New Hampshire. Benson, who co-founded the former Cabletron Systems, once the . We got you! Of the total gross monthly and annual membership fees payable to you via EFT Dues Draft. This, too, is best evaluated with the help of an accountant or business lawyer, who can help you break down the fine print. Estimated total initial investment: $2,405 to $3,200. [27], In February 2016, the franchise was added to the Franchise Times' "Fast and Serious" list of top franchises (No. Owning a UFC Gym means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. Planet Fitness Franchise Owners Contact List ASK QUESTIONS ABOUT THE FRANCHISE, Distributorship Opportunities For Business, the terms of . In this role, he is responsible for all aspects of financial strategy and management. 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. 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. You must maintain your equipment according to Planet Fitness brand standards. If you own and operate multiple Planet Fitness businesses in the same market area and LAF spending for them is combined. Lead Assigning Editor | Small business finances, investing, banking. 9 Best Gym Franchises - NerdWallet Prior to that he served as the Chief Operating Officer since 2003. Planet Fitness Franchise (Costs + Fees + FDD) | Franchise Direct [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. Even more reason to consider investing in a gym franchise? 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. On this Wikipedia the language links are at the top of the page across from the article title. Get in touch with Planet Fitness Owners from around the US with verified contact data for all owners of all Planet Fitness locations. 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. [35], The net worth requirement for a Planet Fitness franchise is $3,000,000, while the liquid cash requirement is $1,500,000. NerdWallet strives to keep its information accurate and up to date. Planet Fitness Announces Winners of Annual Franchisee Awards - PR Newswire The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. 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. Ms. Gentilozzi is a certified Senior Professional in Human Resources (SPHR). In this role, she oversees general HR operations, talent acquisition, leadership development, business partner support, culture and employee engagement, benefits and compensation. Kathy Gentilozzi joined Planet Fitness in 2019 as the Companys Chief People Officer. "[22], As early as March 2015, the "Judgement Free Zone" policy was expanded to allow trans women to use the women's locker room. SVP Communications and Corporate Social Responsibility, General Counsel and SVP, International Division. The highest Planet Fitness franchise made over 3 million dollars in revenue, whereas the lowest earning one made $165,000. We were opening our 5th store then. This document includes information about the franchises financial standing, capital requirements, franchisee training, and ongoing franchise fees, among other crucial information. An innovative entrepreneur, Mr. Rondeau was honored as an EY Entrepreneur of the Year and inducted into the UNH Alumni Entrepreneur Hall of Fame. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. [6], In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. [19] According to a Planet Money episode from 2014, "half of the Planet Fitness members don't ever go to their gyms. Review the chart below to see how much it costs to buy a Planet Fitness franchise in 2022. 10 Qualities of Highly Successful Fitness Franchise Owners This model has become extremely sticky in the fitness industry because while many people want to achieve their fitness goals, they innately lack motivation. 1. 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. 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. Orange Theory Franchise was founded in Boca Raton, Florida in 2009. Planet Fitness competes in the Fitness market against big brand companies such as Orange Theory and Golds Gym. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. 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. Franchise Sales Manager Planet Fitness 4 Liberty Lane West Hampton, NH 03842 Phone: (603) 750-0001 Mr. Rondeau also received an honorary doctorate degree from Philadelphia University and received the Universitys honorary innovation medal. Owning a. means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. She received her Bachelors degree in Public Communications from American University in Washington, DC, and served on the Board of Directors for the Boys & Girls Clubs of Manchester, NH. Planet Fitness is a profitable business for the franchisor, with retained earnings of $210 million in 2021. Ms. Medeiros received her Bachelors degree from the University of New Hampshire. Here is a list of our partners. 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. 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. Royalty fees and advertising fees are generally calculated as a percentage of gross sales in franchise agreements, but Anytime Fitness rates are flat from month to month, which makes it easier for you to plan and organize your expenses. Franchising began one year later, and today Orange Theory studios can be found in 18 countries, and across 49 states. Do not sell or share my personal information. [49] [50], Since 2015, Planet Fitness has been a personal sponsor of NASCAR driver and champion Joey Logano. 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. Throughout her tenure, she has held roles of increasing responsibility, with her most recent position being Vice President of National Marketing. Investing in an Orange Theory franchise is an interesting opportunity, especially for individuals looking to make their way into the Fitness industry. 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. Initial investments: $969,600 - $4,242,500 In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. Greater of $15,000 or 7% of the total gross quarterly EFT Dues Draft, Expended quarterly according to our Methods of Operations as per your advertising budget, Varies, maximum of 9% total gross monthly EFT Dues Draft, Our actual costs, which may range from $3,000 to $15,000. All told, their gyms boast over 14 million members worldwide. 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. The Planet Fitness franchise sets itself apart from other gyms by being the "Judgement Free Zone" where everyone can feel comfo. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. We offer detailed franchise research and contact data reports. All financial products, shopping products and services are presented without warranty. 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. Initial term lengths last 10 years. We provide estimated franchise costs for some countries: Planet Fitness | Judgement Free Zone | Gym and Fitness Club 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. Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. [32][33], Planet Fitness started franchising units in 2003. Annually Updated with New Owners of Planet Fitness Locations in the USA. We believe everyone should be able to make financial decisions with confidence. 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. Prior to Sonus, he worked for more than 10 years in public accounting with both Deloitte and Touche and Arthur Andersen. process lies in obtaining a current list of Planet Fitness franchise owners. 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). 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. - In Malaysian currency, the investment comes around MYR 3,93 million to MYR 17,21 million. PDF Together We Are Franchising Our partners compensate us. 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. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. - In currency of Germany, the investment comes around EUR 805,430 to EUR 3,524,180. 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. Mr. Barber holds a B.S. ", "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.

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