Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. 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. Robert Beaupre leads the SMB team at NerdWallet. Order now to get instant access to the complete Planet Fitness franchise owners. - In the United States, the total investment to start the Planet Fitness gym is around $969,600 to $4,242,500. She also served as Senior Vice President of Human Resources at Macys Inc., and has held various leadership positions at The May Department Store Company, including corporate and division roles. 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. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105. Chris Rondeau has served as the Chief Executive Officer of Planet Fitness since January 2013. Kathy Gentilozzi joined Planet Fitness in 2019 as the Companys Chief People Officer. Thanks to that near-legendary status in the fitness world, and their loyal customers, Jazzercise has over 8,900 franchises across the country. 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 Please confirm by clicking on the Cancel Subscriptionbutton below. From the start, Planet Fitnesswas an inclusive, non-intimidating gym and in 1997, Planet Fitness officially unveiled its Judgement Free Zone philosophy. 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. 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. [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. 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. We started our business in 1992 and refined our brand for a decade or so before franchising in 2003. If you own and operate multiple Planet Fitness businesses in the same market area and LAF spending for them is combined. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. Prior to Planet Fitness, Ms. Gosselin worked at Dunkin Brands on the global public relations team. At the moment we can not connect you to the representative of this franchise. He joined Planet Fitness in 2016 as the Senior Vice President of Franchise Operations. [22] In 2010, Men's Health magazine called Planet Fitness "the worst gym in America. 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. For those looking to get started with a Planet Fitness franchise, it's important to factor in all of these costs so that you have a clear understanding of the total investment required. 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. Estimated total initial investment: $58,870 to $521,437. Mr. Rondeau also received an honorary doctorate degree from Philadelphia University and received the Universitys honorary innovation medal. [17] They also dramatically reduced prices to compete against better-known brands. 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. Investing in an Orange Theory franchise is an interesting opportunity, especially for individuals looking to make their way into the Fitness industry. Franchise Sales Manager Planet Fitness 4 Liberty Lane West Hampton, NH 03842 Phone: (603) 750-0001 Estimated annual transaction costs per location range from $9,000- $72,000, Equal to 50% of our then-current initial franchise fee. Justin Vartanian serves as General Counsel and SVP, International Division overseeing all legal matters and international development. It is reported to be the nations fastest growing fitness center franchise. Wed recommend meeting with your bank or accountant to help you determine which franchise is financially doable for you right now. After a few years of growth, Planet Fitness started franchising in 2003 with the first franchised gym opened in Florida. 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. 1),[16] and in its 2016 ranking of franchises, Forbes magazine ranked Planet Fitness No. Largest Planet Fitness Franchisee Acquires 19 Planet Fitness Clubs in [41][42] In October 2015 the company opened their second international location in Santo Domingo, Dominican Republic. You may need additional operating capital, or you may need it for a longer period of time. [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. Prior to that he served as the Chief Operating Officer since 2003. 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. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. 2% of the total gross monthly 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. The owner of the franchise (the franchisee) is expected to be involved in all aspects of day-to-day operations. 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. 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. McCall Gosselin joined Planet Fitness in January 2013 and currently serves as SVP of Communications and Corporate Social Responsibility. 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. You must maintain your equipment according to Planet Fitness brand standards. That said, as of June 2022, Planet Fitness has paused offering franchises. Share. Annually Updated with New Owners of Planet Fitness Locations in the USA. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. industry. 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. Total Investment $728,290 - $3,777,800. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. 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. 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. Except for signage, Planet Fitness will not require substantial remodeling more often than every 5 years during the term of the Franchise Agreement. Review the chart below to see how much it costs to buy a Planet Fitness franchise in 2022. The fitness center industry has grown with the rise in disposable income and demand for a more health-conscious lifestyle among millennials. 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. Planet Fitness franchise was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. 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. has opened over 4,000 locations on all seven continents. 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. Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing gym franchises in the United States. As a result, she has played an instrumental role in the major strategic decisions made by the Company. 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. Do not sell or share my personal information. Planet Fitness Franchise Owners Contact List [28] It ranked in the top 50 of Entrepreneur magazine's Franchise 500 in 2017. 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. Here is a list of our partners and here's how we make money. Across 50 states the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia Point of Sale System, and other Supplies, Your Out-of-Pocket Initial Training Expenses, Operating Cash (Additional Funds Pre-Opening and first six months), $7% of the total gross monthly and annual membership fees payable to you via EFT Dues Draft, Internet Membership and Balance Payment Administration Fee, Set according to our Methods of Operations, presently 55 per membership application or balance payment we process for your franchise location, Fees to Evaluate and Approve Alternative Suppliers, Our reasonable costs and expenses, which currently are expected to range between $1,000 and $5,000, although costs could greatly exceed those amounts depending on the product, Will var under the circumstances: estimated insurance premiums for your first year are $10,000 to $20,000. Largest Planet Fitness Franchisee Group Acquired by New York Private 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. 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. Ms. Kaplan has over 20 years of experience, most recently serving as Global Marketing Operations Advisor for Advent International, a global private equity firm. Performing this action will delete your account. [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. 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. 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 everyone should be able to make financial decisions with confidence. Initial term lengths last 10 years. Planet Fitness (PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. 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. [52], In March 2016, Planet Fitness partnered with STOMP Out Bullying,[53] a national organization dedicated to bullying prevention, and the Boys & Girls Clubs of America to launch the company's national philanthropic initiative to address bullying, The Judgement Free Generation. You must be logged in to view this form. Benson, who co-founded the former Cabletron Systems, once the . Estimated total initial investment: $198,650 to $446,250. [13] The new model was an effort to provide a fitness hub for everyday people. Your actual costs may be higher or lower depending on the size and location of your Planet Fitness business. 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. Co-founder, Elle Latham, decided to open a gym to implement her personally designed workout, which eventually became the basis for Orange Theorys system. 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. Former Gov. 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). Our opinions are our own. Planet Fitness Franchise Costs, Fees, Revenues, Profits (2022 Review) Orange Theorys success is quite similar to Pelotons rise to fame. Due Date: Paid monthly and annually. JLM Financial Partners, Austin, Texas, and Eagle Merchant Partners, Atlanta . Initial franchise fee: $32,000 to $40,000, Estimated total initial investment: $2.2 million to $5 million. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. Franchise Owners Contact Lists - FranchiseComplaints.org He began working at Shell in 2001, holding broad and diverse roles including strategy, business development, project management, and deal delivery. 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. Even if your network of Planet Fitness franchises earns above $% a million, you will not be able to recover costs just by selling it. The total investment to open a Planet Fitness gym ranges from $728,290 - $3,777,800. Call (888) 977-4374. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. Mind that the franchise requirements for sale could be different depending on the format and scope of business. Planet Fitness Franchise Cost & Fees | How To Open | Opportunities And [25][26] The company went public on August 6, 2015. Edward Hymes joined Planet Fitness in January 2023 as President and Chief Operating Officer. Franchise Description: Planet Fitness Franchising LLC is the franchisor.The ultimate parent company is Planet Fitness, Inc. Their website reads, We are not currently accepting new franchisee applications for US expansion.. Throughout his tenure at Dunkin Brands, Mr. There are very few reasons why one might want to open a Planet Fitness franchise. The most popular workout model from Snap Fitness is known as MYFIT. When evaluating offers, please review the financial institutions Terms and Conditions.