planet fitness franchise owners list

), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. 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. Edward Hymes joined Planet Fitness in January 2023 as President and Chief Operating Officer. From the start, Planet Fitnesswas an inclusive, non-intimidating gym and in 1997, Planet Fitness officially unveiled its Judgement Free Zone philosophy. You must maintain the franchise premises according to Planet Fitness brand standards. Franchise. Ms. Medeiros received her Bachelors degree from the University of New Hampshire. [32][33], Planet Fitness started franchising units in 2003. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. 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. After you cover your startup costs, your total gross monthly take could greatly exceed your expectations, depending on how many memberships you sell. PF Independent Franchisee Council 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. 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. Then, the last four workouts in the program will take place in the gym and you'll learn how . Call (888) 977-4374. The Fitness Center industry has over 111,000 businesses with a market size of $34 billion, and it supports over 800,000 jobs. [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. [49] [50], Since 2015, Planet Fitness has been a personal sponsor of NASCAR driver and champion Joey Logano. 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. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. [61], In January 2020, Planet Fitness partnered with The Biggest Loser to be the official sponsor of the show's 2020 reboot.[62]. She is based in Santa Monica, California. [10][7], Berks had started his own Planet Fitness gym in 1993 in Sunrise, Florida, and eventually expanded it to three clubs, along with a Gold's Gym franchise. 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. Their website reads, We are not currently accepting new franchisee applications for US expansion.. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. 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. Our research and analytics team analyzed over 120 franchise concept investment breakdowns in order to calculate this figure. Overall, Planet Fitness is making a decent amount of profit, and we also see that the profit chart . Planet Fitness Franchise Cost & Fees | How To Open | Opportunities And Gym franchises dont get much more classic than Jazzercise, the high-intensity, dance-cardio fusion class that became a fitness mainstay during the 80s exercise boom. Bode held several senior leadership positions at Dunkin' Brands, including serving as Regional Vice President of Dunkin' Donuts Northeast where he was responsible for overseeing the operations of more than 2,600 restaurants. Building in competition to workouts enhances ones motivation and keeps consumers coming back. Even more reason to consider investing in a gym franchise? Today, there are Planet Fitness franchise locations around the U.S. as well as Canada and the Dominican Republic. Investing in an Orange Theory franchise is an interesting opportunity, especially for individuals looking to make their way into the Fitness industry. "[21] Planet Fitness has been criticized for prohibiting certain weightlifting exercisessuch as deadlifts and clean-and-jerksthat many experts believe are highly effective. 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. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. [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. Our partners compensate us. - In currency of Germany, the investment comes around EUR 805,430 to EUR 3,524,180. Do not sell or share my personal information. 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. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. 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 While at Dunkin Brands, he helped lead the technology team that rolled out mobile ordering across 9,000 locations. Planet Fitness Franchise Ownership FAQs - smallbiztrends.com Annually Updated with New Owners of Planet Fitness Locations in the USA. 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. Franchise candidates can expect to pay anywhere between $354k to $1.2m. [37], The club's two membership levels are $10 and $24.99 per month in the United states[38] and in Canada they charge $15 and $25 per month. The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. If you own and operate multiple Planet Fitness businesses in the same market area and LAF spending for them is combined. 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. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. We provide estimated franchise costs for some countries: Our partners cannot pay us to guarantee favorable reviews of their products or services. 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. This could be an indicator that franchisees are doing really well. Owning a. means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. Planet Fitness growth continued over the next decade and in 2013, TSG Consumer Partners, LLC became an equity partner in the Planet Fitness franchise. The Best Fitness Franchises You Can Buy - Trafft This model has become extremely sticky in the fitness industry because while many people want to achieve their fitness goals, they innately lack motivation. 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. [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. Like. Franchise Owners Marketing Lists - Dataman Group Direct They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. Ms. Kaplan has over 20 years of experience, most recently serving as Global Marketing Operations Advisor for Advent International, a global private equity firm. In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. Office Depot, Planet Fitness, Roto Rooter, Starbucks, Taco Bell, Travelers, and United Health Group. [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. 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. Robert Beaupre leads the SMB team at NerdWallet. 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. PLANET FITNESS - 57 Photos & 19 Reviews - Yelp Participants are given heart-rate monitors, and their results are displayed on screens throughout the room over the course of this hour-long, interval-based, coach-led workout. Franchising | Planet Fitness [11][12] Berks had been catering to the bodybuilding culture in his Gold's Gym. [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. 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 . 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. Prior to joining Dunkin' Brands, he was a Dunkin' Donuts franchisee in Richmond, VA. Tom Fitzgerald joined Planet Fitness in 2020 as the Companys Chief Financial Officer. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. The name came from his daughter's school project, "Fitness Planet". | United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. Planet Fitness | Judgement Free Zone | Gym and Fitness Club Planet Fitness franchise opportunities are proven by 1,500 clubs successfully operating worldwide. 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. We offer detailed franchise research and contact data reports. 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. Prior to Sonus, he worked for more than 10 years in public accounting with both Deloitte and Touche and Arthur Andersen. LearningRx Franchise Corporation 5085 List Drive, #200 Colorado Springs, CO 80919 Phone: (719) 264-8808 Liz Anderson . He began working at Shell in 2001, holding broad and diverse roles including strategy, business development, project management, and deal delivery. 1. 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. Ms. Medeiros has been instrumental in developing and refining Planet Fitness marketing strategy and differentiated Judgement Free positioning in the fitness industry. You have to pay this upfront fee when opening a Planet Fitness franchise. service, Computer System. Planet Fitness Announces Winners of Annual Franchisee Awards - PR Newswire So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. Previously, she was an editor at Fundera, where she developed service-driven content on topics such as business lending, software and insurance. You'll also benefit from . Planet Fitness is a profitable business for the franchisor, with retained earnings of $210 million in 2021. 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. Planet Fitness franchisees also compete against other smaller gym and fitness business locations. In addition, he served as an online media manager for the University of Nevada, Reno. 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. Please confirm by clicking on the Cancel Subscriptionbutton below. 1),[16] and in its 2016 ranking of franchises, Forbes magazine ranked Planet Fitness No. Please renew to keep using our 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. 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. 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. Owning a UFC Gym means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. Wed recommend meeting with your bank or accountant to help you determine which franchise is financially doable for you right now. 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 Prior to joining the Company, Mr. ODonnell most recently served as Vice President of Finance and Chief Accounting Officer at Sonus Networks. Planet Fitness, Inc. to Acquire 114 Locations From One of Its Top Start a Planet Fitness Franchise in 2023 - Entrepreneur Lead Assigning Editor | Small business finances, investing, banking. The Planet Fitness initial franchise fee is $20,000. 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. [22] In 2010, Men's Health magazine called Planet Fitness "the worst gym in America. [17] They also dramatically reduced prices to compete against better-known brands. In this role, he leads all aspects of our U.S. locations around the U.S. as well as Canada and the Dominican Republic. This investment is much higher than the industry standard of $253,000. 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. Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. - In Malaysian currency, the investment comes around MYR 3,93 million to MYR 17,21 million. 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. FranchiseComplaints.org 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 All reactions: 8. [27], In February 2016, the franchise was added to the Franchise Times' "Fast and Serious" list of top franchises (No. 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. Craig Benson has rejoined the board of directors of Planet Fitness, a national gym chain based in Hampton in which he is a substantial franchisee and which uses software from a company that Benson partly owns, according to a Securities and Exchange Commission filing. Club Pilates North Shore is a boutique Pilates studio specializing in reformer fusion classes for anyone, at any age or fitness level. New franchise owners can also expect to participate in a comprehensive training program, as the franchise requires their franchisees to be certified barre instructors. Compared to $145 million in 2020, they saw an increase of 44% from 2020 to 2021. Prior to Jiffy Lube, he served on Shells global Downstream Acquisitions & Divestments Leadership Team with responsibility for transaction delivery across North and South America. The number of fitness franchise locations has been steadily increasing to a total of about 2,039. . Both within the fitness industry and American culture at large, Golds Gym has become legendary for their famous members (including Arnold Schwarzenegger) and their status as the mecca of bodybuilding. Since their founding by a Merchant Marine veteran in 1965, the Los Angeles-based gym has opened over 700 gyms in 29 states and 29 countries, and their international membership is 3 million devotees strong. 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. In this role, she is responsible for driving our digital vision and strategy, including leading the continuous enhancement of our mobile app, with a focus on consumer engagement, loyalty and a differentiated omni-channel experience to accelerate Planet Fitness growth and success. Planet Fitness Franchise Costs, Fees, Revenues, Profits (2022 Review) Corporate Governance - Management Team - Planet Fitness But perhaps most important to this process is interviewing current franchisees. Browse 1000s of reports on 1000s of franchise systems. 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. The difficult part of this step of the franchise buying due diligence process lies in obtaining a current list of Planet Fitness franchise owners. She received her Bachelors degree from Eastern Connecticut State University. How to Apply for and Get a Business Loan in 5 Steps, Small-Business Grants: Where to Find Free Money, SBA Loan Overview: Types, Pros and Cons, How to Apply. [31], While Planet Fitness closed many facilities during the onset of the COVID pandemic, during the Delta and Omicron variants there was not a decrease in gym attendance. ASK QUESTIONS ABOUT THE FRANCHISE, Distributorship Opportunities For Business, the terms of The highest Planet Fitness franchise made over 3 million dollars in revenue, whereas the lowest earning one made $165,000. 4 Liberty Ln. Here is a list of our partners and here's how we make money. Benson is back on the board of Planet Fitness The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. This routine is an 18-minute HIIT workout that targets cardio and endurance. 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 prospects for growth and success within the industry and the Orange Theory brand itself, are extensive, and some markets continue to be available as they move forward with growing their presence across the country. [24] Michael Grondahl, co-founder of Planet Fitness stepped down as CEO, and was succeeded by Chris Rondeau. Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). Then, you will be in compliance with the LAF requirement if you spend an amount that satisfies the LAF obligations for all the Planet Fitness businesses in the aggregate. The franchise requires that candidates have access to over $90,000 in liquid capital, and a minimum net worth of $300,000. 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. You'll build confidence while increasing your fitness knowledge. 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. In fact, in a recent Inc. 5000 list of the 10 fastest growing franchises, four were fitness franchises. 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. Estimated Number of Units: 2,300. Verizon Wireless, and Westin, just to name a very few. Of the total gross monthly and annual membership fees payable to you via EFT Dues Draft. 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. Estimated total initial investment: $303,000 to $499,850. When evaluating offers, please review the financial institutions Terms and Conditions. Rated Excellent on TrustPilot with feedback from 50+ customers. Planet Fitness Franchise Even though its smaller than Pure Barre, The Bar Method franchise is growing quickly: In 2018, The Bar Method saw a 118% growth rate. They opened a new gym called Coastal Fitness and the Grondahls hired current CEO. So how do we make money? 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 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 concept currently has over 1,000 franchises in the United States and another 150 international locations and is a subsidiary of Ultimate Fitness Holdings. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. from Boston University and an M.B.A. from the University of Denver, Daniels College of Business. An innovative entrepreneur, Mr. Rondeau was honored as an EY Entrepreneur of the Year and inducted into the UNH Alumni Entrepreneur Hall of Fame. Have questions? process lies in obtaining a current list of Planet Fitness franchise owners. Franchise Division including leading the operations, development and construction, vendor management and local marketing execution teams. NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer Access|Licenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812, Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc. (CA resident license no. 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). Burn Boot Camp Kick off your search with this list of nine of the most promising gym franchises to buy. "[30] They stated that they were unable to stop the pre-scheduled payments on short notice, but would not charge future monthly dues until they reopen, and would also provide a credit for closed days previously paid for. Franchising Since: 2000. Initial franchise fee: $32,000 to $40,000, Estimated total initial investment: $2.2 million to $5 million. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. But buying into a gym franchise is a less risky venture than building a gym from the ground up. This information may be different than what you see when you visit a financial institution, service provider or specific products site. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. 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. This document includes information about the franchises financial standing, capital requirements, franchisee training, and ongoing franchise fees, among other crucial information. McCall Gosselin joined Planet Fitness in January 2013 and currently serves as SVP of Communications and Corporate Social Responsibility. 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. Disclaimer: NerdWallet strives to keep its information accurate and up to date.