planet fitness franchise owners list

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 Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing gym franchises in the United States. Ultimately, the only way to know which gym franchise is right for you is to do your own due diligence. [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. 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. When evaluating offers, please review the financial institutions Terms and Conditions. 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). All initial fees are the same for both initial and conversion franchises. 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 following costs are part of the upfront costs included in the initial investment for Planet Fitness locations. 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. Please scroll down for a partial list of franchise businesses. - In Philippine currency, the investment comes around Php 47,15 million to Php 206,34 million. 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. Planet Fitness businesses are fitness training facilities offering exercise machines and free weights, fitness training services, tanning services . Franchise Sales Manager Planet Fitness 4 Liberty Lane West Hampton, NH 03842 Phone: (603) 750-0001 Prospective owners are asked to have a minimum net worth of $3 million and a minimum of $1,500,000 in liquid capital. He also currently serves on the Board of Directors of the NH/VT/ME Region of the American Red Cross and the Business & Industry Association of New Hampshire. The estimated total investment necessary to begin the operation of a Planet Fitness Franchise ranges from $1,625,600 $4,921,000. An individual planet fitness franchise owner can make around $513,00 to $5,554,000 annually. Golds Gym also requires that potential franchisees have a minimum of $1 million in net worth and $400,000 in liquid assets. Chris Rondeau has served as the Chief Executive Officer of Planet Fitness since January 2013. FranchiseComplaints.org As a franchise owner, youll benefit from a proven business model, brand recognition, existing customer base, vendor network, and robust franchisee support system. 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. 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 . It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. 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. The number of fitness franchise locations has been steadily increasing to a total of about 2,039. . Sorry. So long as you are not decided on the fitness industry, we recommend you have a look at other offerings. [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. Currently, the Orangetheory franchise 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). Planet Fitness offers people the opportunity to be a part of the fitness business, but we do not believe this is sustainable. McCall Gosselin joined Planet Fitness in January 2013 and currently serves as SVP of Communications and Corporate Social Responsibility. 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. 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. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. Orange Theory uses your heart rate to show your exertion potential compared to the maximal effort and compares you to your peers in classes. - In Saudi Arabia currency, the investment comes around SR 3,64 million to SR 15,91 million. [14] Berks later went on to open the first Youfit Health Club in St. Petersburg, Florida. Estimated annual transaction costs per location range from $9,000- $72,000, Equal to 50% of our then-current initial franchise fee. From the start, Planet Fitnesswas an inclusive, non-intimidating gym and in 1997, Planet Fitness officially unveiled its Judgement Free Zone philosophy. JLM Financial Partners, Austin, Texas, and Eagle Merchant Partners, Atlanta . 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. [7] They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. If you acquire rights under our Area Development program, you will pay an Area Development Fee equal to $10,000 per location to be developed under the Area Development Agreement when you sign the Area Development Agreement. Additional Training: Ongoing training This routine is an 18-minute HIIT workout that targets cardio and endurance. [32][33], Planet Fitness started franchising units in 2003. [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. 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. If you own and operate multiple Planet Fitness businesses in the same market area and LAF spending for them is combined. Although gym franchises require that the owner has previous management experience, most dont require experience in the. 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. Owning a fitness franchise is a fantastic way to enter into the multi-billion dollar fitness industry. Today, there are Planet Fitness franchise locations around the U.S. as well as Canada and the Dominican Republic. Brands, he supported the team tasked with transforming and modernizing technology and data systems both domestically for KFC and internationally in Australia for Pizza Hut. They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. Although gym franchises require that the owner has previous management experience, most dont require experience in the fitness industry. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. [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. Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). Their website reads, We are not currently accepting new franchisee applications for US expansion.. Prior to joining the Company, Mr. ODonnell most recently served as Vice President of Finance and Chief Accounting Officer at Sonus Networks. 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. [39][29][40], In December 2014, Planet Fitness opened its first international location in Toronto, Ontario, Canada. 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. Club Pilates North Shore is a boutique Pilates studio specializing in reformer fusion classes for anyone, at any age or fitness level. To open a gym, a franchisee must have of $3 million with $1,500,000 in liquid assets. Assistant Assigning Editor | Small-business finance, personal finance. List to Contact Planet Fitness Franchise Owners - Planet Fitness Owners Contact List. While at Dunkin Brands, he helped lead the technology team that rolled out mobile ordering across 9,000 locations. Planet Fitness estimates the costs to upgrade and/or remodel your facility will range from $70,000 to $600,000 every 5 years. Robert Beaupre leads the SMB team at NerdWallet. Co-founder, Elle Latham, decided to open a gym to implement her personally designed workout, which eventually became the basis for Orange Theorys system. This information may be different than what you see when you visit a financial institution, service provider or specific products site. In fact, in a recent Inc. 5000 list of the 10 fastest growing franchises, four were fitness franchises. Planet Fitness estimates the total costs to re-equip your facility with both cardio equipment and all other exercise equipment will range from $314,000 to $922,000 every 5 to 7 years. [17] They also dramatically reduced prices to compete against better-known brands. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. According to their website, Pure Barre is the oldest and most established barre studio out there. There are very few reasons why one might want to open a Planet Fitness franchise. Even more reason to consider investing in a gym franchise? Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). That said, as of June 2022, Planet Fitness has paused offering franchises. has over 8,900 franchises across the country. You'll also benefit from . The second Toronto location opened in early 2015. 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. Headquarters: Hampton, New Hampshire. Initial franchise terms are 10 years. 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. [8][9][7] In 2002, they purchased the rights to the name Planet Fitness from Rick Berks and renamed their franchise. The owner of the franchise (the franchisee) is expected to be involved in all aspects of day-to-day operations. 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 We offer the most complete and most accurate mailing/telemarketing list for Planet Fitness franchise owners. [17], As part of their effort to create a non-intimidating environment, Planet Fitness has alienated many serious weight lifters. Prior to Dunkin, she worked at various communications agencies in both Boston and Washington, DC on behalf of various leading retail brands. 8. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. Even if your network of Planet Fitness franchises earns above $% a million, you will not be able to recover costs just by selling it. [41][42] In October 2015 the company opened their second international location in Santo Domingo, Dominican Republic. We believe everyone should be able to make financial decisions with confidence. Many of these are one-time fees that are needed to launch the franchise. [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. In 2020, he joined the International Franchise Association (IFA) Board of Directors; board members are drawn from a world-class set of franchise brands. 1),[16] and in its 2016 ranking of franchises, Forbes magazine ranked Planet Fitness No. Lead Assigning Editor | Small business finances, investing, banking. Thanks to that near-legendary status in the fitness world, and their loyal customers, Jazzercise has over 8,900 franchises across the country. Overall, Planet Fitness is making a decent amount of profit, and we also see that the profit chart . 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. Planet Fitness franchise is growing, and it is growing fast. For example, this includes replacing your cardio equipment every 5 years and replacing your non-cardio equipment every 7 years. 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. [25][26] The company went public on August 6, 2015. After a few years of growth, Planet Fitness started franchising in 2003 with the first franchised gym opened in Florida. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. 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. "[20] In 2003, Planet Fitness opened its first franchised location in Florida, with Eric Dore and Shane McGuiness. [48], Since December 2014, Planet Fitness has been the official fitness sponsor of Dick Clark's New Year's Rockin' Eve on ABC. Thanks to that near-legendary status in the fitness world, and their loyal customers. Jennifer Simmons joined Planet Fitness in 2013 as a business analyst, later joining the executive leadership team as Senior Vice President of Business Strategy and Analytics and in 2022 was named Division President, Corporate Clubs. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. 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. First, youll need to winnow down your list to only the gyms whose investment levels align with your financials, as well as your eligibility to secure franchise financing or gym financing. Many or all of the products featured here are from our partners who compensate us. Planet Fitness franchisees also compete against other smaller gym and fitness business locations. process lies in obtaining a current list of Planet Fitness franchise owners. Pre-qualified offers are not binding. * The data above, compiled from the Planet Fitness FDD (Franchise Disclosure Document) 2020, represent the estimated financial range for the initial setting up and first 6 months of operation for a new Planet Fitness gym. service, Computer System. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. 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. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. Browse 1000s of reports on 1000s of franchise systems. Benson, who co-founded the former Cabletron Systems, once the . Throughout his tenure at Dunkin Brands, Mr. 1- Based on a midpoint investment of $3,273,300 with estimated profits of $77,293 at a 5% profit margin it would take about 42 years to recoup your investment. Year Business Began: 1992. [61], In January 2020, Planet Fitness partnered with The Biggest Loser to be the official sponsor of the show's 2020 reboot.[62]. Prior to joining Dunkin' Brands, he was a Dunkin' Donuts franchisee in Richmond, VA. Tom Fitzgerald joined Planet Fitness in 2020 as the Companys Chief Financial Officer. Owner WIRED Telcom 159 W 1st Street Oswego, NY 13126 Phone: (315) 326-3350 . That way, participants can both track their own progress, and see how it stacks up to other people in the classso if you thrive on competition, this is the gym franchise for you. Today the brand has over 2,000 locations system-wide. LearningRx Franchise Corporation 5085 List Drive, #200 Colorado Springs, CO 80919 Phone: (719) 264-8808 Liz Anderson . Mr. Fitzgerald began his career at PepsiCo, where he held various leadership roles in finance and planning. - In Canadian currency, the investment comes around Can$ 1,231,300 to Can$ 5,387,800. She received her Bachelors degree from Eastern Connecticut State University. Prior to joining Planet Fitness, Mr. This FREE 10-part progressive program will help you get movin'. Estimated total initial investment: $58,870 to $521,437. These figures are estimates based on Planet Fitness and its affiliates experience in operating locations. Orangetheory Fitness provides a totally unique (and seriously hard) group workout experience. has opened over 4,000 locations on all seven continents. The franchise requires that candidates have access to over $90,000 in liquid capital, and a minimum net worth of $300,000. This information may be different than what you see when you visit a financial institution, service provider or specific products site. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. You are going to downgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. 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.

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