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. An offshoot of the (purportedly) $7 billion UFC brand, UFC Gyms offer MMA-inspired personal and specialized training, traditional and fusion martial arts classes, and youth fitness classes. Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. Even more reason to consider investing in a gym franchise? It is reported to be the nations fastest growing fitness center franchise. 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. Currently, the. PF Independent Franchisee Council The policy states that "members and guests may use all gym facilities based on their sincere self-reported gender identity. Even though its smaller than Pure Barre, The Bar Method franchise is growing quickly: In 2018, The Bar Method saw a 118% growth rate. 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. PLANET FITNESS - 57 Photos & 19 Reviews - Yelp Orange Theory was ranked 49th in the franchise 500 rankings according to entrepreneur.com. Although gym franchises require that the owner has previous management experience, most dont require experience in the. Former Gov. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. She received her Bachelors degree from Eastern Connecticut State University. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. Your actual costs may be higher or lower depending on the size and location of your Planet Fitness business. Even after the pandemic hit, it continued to grow at a rate of over 100 units. At the moment we can not connect you to the representative of this franchise. The number of fitness franchise locations has been steadily increasing to a total of about 2,039. . 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. 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. An individual planet fitness franchise owner can make around $513,00 to $5,554,000 annually. 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. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. ", "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. 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. Currently, Golds Gym franchise has available markets in almost every state across the country, and select international opportunities. That said, Orangetheory is designed for people of all fitness levels, since participants can go entirely at their own pace. In this role, he oversees the Companys accounting and treasury functions. 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. All told, their gyms boast over 14 million members worldwide. Planet Fitness Announces Winners of Annual Franchisee Awards - PR Newswire Classroom Training: 80 hours These figures are estimates based on Planet Fitness and its affiliates experience in operating locations. We believe everyone should be able to make financial decisions with confidence. Prior to that he served as the Chief Operating Officer since 2003. The following costs are part of the upfront costs included in the initial investment for Planet Fitness locations. [8][9][7] In 2002, they purchased the rights to the name Planet Fitness from Rick Berks and renamed their franchise. 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. [16] Planet Fitness became known as the "Judgement Free Zone", aimed more at the average user than the bodybuilder type of fitness enthusiast. 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. Planet Fitness Franchise Owners' Salary Your gross monthly take is based on your memberships, which range from $10 to $25 per month for the franchise. Even though its smaller than Pure Barre. He held multiple store operations positions with P&L responsibility progressing from Store Manager to Regional Manager. In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. $10,000, plus our reasonable out-of-pocket expenses, including external legal and administrative costs we incur in connection with the transfer. The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. 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. 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. Previously, Mr. Fitzgerald served as Chief Administrative Officer of Sears Canada. To open a gym, a franchisee must have of $3 million with $1,500,000 in liquid assets. 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. 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. JLM Financial Partners, Austin, Texas, and Eagle Merchant Partners, Atlanta . In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. [36], The company reports that as of 2019, there are 80 corporate-owned gyms, the rest independently owned and operated. has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. 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 started our business in 1992 and refined our brand for a decade or so before franchising in 2003. https://www.palmbeachpost.com/story/business/2012/05/19/at-youfit-health-clubs-patrons/7332606007/, "Planet Fitness headquarters moving to Hampton", "Planet Fitness Sets New Membership Records", "4 international franchises that landed Down Under in 2019", "The fastest-growing gym in America has $10 memberships and gives out free pizza, bagels, and candy", "Fit for franchising: From first gym in Dover, Planet Fitness building big brand", https://www.franchise-info.ca/franchise_news/2014/01/how-planet-fitness-became-the-leader-in-fitness-franchising.html#.Y-Hc-BZMEWM, "How Planet Fitness Became the Leader in Fitness Franchising - News", "Marc Grondahl of Planet Fitness: How a Lean Business Model Became a Franchise Heavyweight", "YouFit Health Club expanding across South Florida, around nation | The Starting Gate", "No-frills gym offers fitness without flash", "Fast and Serious: FT ranks the smartest-growing brands", "Franchise Players: We Were Planet Fitness's First Franchisees. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. ", "Planet Fitness revokes woman's membership after transgender complaint", "Planet Fitness Has New Investor; Promotes Rondeau To CEO", "Former Radio Shack CFO Fills Planet Fitness Hole", "Planet Fitness goes public, hits mark in first day of trading", "Ranking America's Best And Worst Franchises: Which Are The Best Investments? The name came from his daughter's school project, "Fitness Planet". This large discrepancy indicates the potential different costs you could face when building your Orange Theory franchise as a franchisee. Rated Excellent on TrustPilot with feedback from 50+ customers. [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. As a franchise owner, youll benefit from a proven business model, brand recognition, existing customer base, vendor network, and robust franchisee support system. Due Date: Expended according to Planet Fitness Methods of Operations as per your advertising budget. Planet Fitness is a profitable business for the franchisor, with retained earnings of $210 million in 2021. Now, We Own 22 Locations", "What your new gym doesn't want you to know", "Planet Fitness vs. the lunkheads: Why is a health club trying to alienate people who love to work out? 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. Prior to Jiffy Lube, he served on Shells global Downstream Acquisitions & Divestments Leadership Team with responsibility for transaction delivery across North and South America. 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. 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. Many of these are one-time fees that are needed to launch the franchise. 10 Qualities of Highly Successful Fitness Franchise Owners 1 comment. All financial products, shopping products and services are presented without warranty. The fitness center industry has grown with the rise in disposable income and demand for a more health-conscious lifestyle among millennials. Planet Fitness Franchise Cost & Fees | How To Open | Opportunities And Owner WIRED Telcom 159 W 1st Street Oswego, NY 13126 Phone: (315) 326-3350 . 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. 4 Liberty Ln. 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). PDF Together We Are Franchising And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. McCall Gosselin joined Planet Fitness in January 2013 and currently serves as SVP of Communications and Corporate Social Responsibility. "[20] In 2003, Planet Fitness opened its first franchised location in Florida, with Eric Dore and Shane McGuiness. - In the United States, the total investment to start the Planet Fitness gym is around $969,600 to $4,242,500. Largest Planet Fitness Franchisee Group Acquired by New York Private There are very few reasons why one might want to open a Planet Fitness franchise. 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. [34] The royalty fee for a Planet Fitness is 7% of the total gross monthly and annual membership fees. The U.S. has the biggest Fitness market in the world, both in terms of revenue and in the number of members enrolled in a fitness facility. Orange Theorys success is quite similar to Pelotons rise to fame. You are going to upgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. 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. Estimated total initial investment: $304,500 to $2.1 million. 2% of the total gross monthly EFT Dues Draft. Planet Fitness ( PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. Ms. Kaplan has over 20 years of experience, most recently serving as Global Marketing Operations Advisor for Advent International, a global private equity firm. 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. 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. Founded in 1992 in Dover, N.H., Planet Fitness is now the fastest-growing full size health club franchise in the United States, and has revolutionized the industry with a combination of extremely . Ms. Medeiros received her Bachelors degree from the University of New Hampshire. Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). Then, the last four workouts in the program will take place in the gym and you'll learn how . This is a good indication of high growth as a company overall. It offers classes for dance, aqua, cycle, box, pilates, and many more. 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. This information may be different than what you see when you visit a financial institution, service provider or specific products site. 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 franchise has since modernized their routines and worked Pilates, yoga, hip hop, kickboxing, and strength training into their classes, which they claim can burn up to 800 calories in one hour. Ms. Medeiros has been instrumental in developing and refining Planet Fitness marketing strategy and differentiated Judgement Free positioning in the fitness industry. Kathy Gentilozzi joined Planet Fitness in 2019 as the Companys Chief People Officer. The private equity owners of United PF Partners, the largest Planet Fitness franchisee conglomerate, have sold the group to American Securities, another New York-based private equity firm, for an undisclosed sum, the companies announced in a Jan. 6 media release. Ultimately, the only way to know which gym franchise is right for you is to do your own due diligence. Who Owns Planet Fitness? (Franchise, CEO & More) - Trusty Spotter 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. We offer detailed franchise research and contact data reports. 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 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. [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. The Initial Franchise Fee is uniform and non-refundable. | United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. However, this ultra-famous franchise is the most expensive on this list, with an estimated upfront investment potentially reaching over $5 million. Fitness franchises are currently booming with the largest franchises globally being Anytime Fitness and Planet Fitness. Planet Fitness offers people the opportunity to be a part of the fitness business, but we do not believe this is sustainable. Franchise Owners Contact Lists - FranchiseComplaints.org Pure Barre has over 500 open locations across North America with tons of available studio markets in the U.S. . Initial investments: $969,600 - $4,242,500 Share. 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. Over the last three years, franchises have opened at a rate of 148 units a year. 8. You will pay a lump-sum nonrefundable Initial Franchise Fee in the amount of $20,000 when you sign the Franchise Agreement. Call (888) . To open a gym, a franchisee must have a net worth of $3 million with a minimum of $1,500,000 in liquid assets. You'll build confidence while increasing your fitness knowledge. Planet Fitness Initial franchise fee: $20,000 Estimated total initial investment: $1 million to $4.1 million Planet Fitness trademarked the phrase "judgment free zone," so that alone. "[23], In the fall of 2013, TSG Consumer Partners LLC became an equity partner in the Planet Fitness franchise. 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. Like. Today the brand has over 2,000 locations system-wide. Subscribe to our newsletters and keep up-to-date with the latest news in the franchise industry. The estimated total investment necessary to begin the operation of an Orange Theory Franchise ranges from $657,542 to $2,105,322. Brian ODonnell joined Planet Fitness in February 2016 and currently serves as VP, Chief Accounting Officer. 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. Ms. Gentilozzi is a certified Senior Professional in Human Resources (SPHR). Today, there are Planet Fitness franchise locations around the U.S. as well as Canada and the Dominican Republic. The initial Planet Fitness Franchise Fee is $20,000. She has also held editing roles at LearnVest, a personal finance startup, and its parent company, Northwestern Mutual. 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. Mr. ODonnell holds a CPA and received his Bachelors degree in Accounting from Assumption College in Massachusetts. 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.