. You are going to upgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. 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. Planet Fitness has more members and locations than any other fitness brand. We reviewed the larger franchise industry as well as selling price multiples for larger systems where more transaction data is available. [16] Planet Fitness became known as the "Judgement Free Zone", aimed more at the average user than the bodybuilder type of fitness enthusiast. 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. 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. This model has become extremely sticky in the fitness industry because while many people want to achieve their fitness goals, they innately lack motivation. 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. Initial franchise fee: $32,000 to $40,000, Estimated total initial investment: $2.2 million to $5 million. 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. The Fitness Center industry has over 111,000 businesses with a market size of $34 billion, and it supports over 800,000 jobs. Golds Gym also requires that potential franchisees have a minimum of $1 million in net worth and $400,000 in liquid assets. Initial franchise fee: $54,950 to $59,950, Estimated total initial investment: $563,529 to $999,121. Orangetheory Fitness provides a totally unique (and seriously hard) group workout experience. She is based in Santa Monica, California. This metric is the standard industry investment amount for a single unit franchise investment in this industry. 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. is growing quickly: In 2018, The Bar Method saw a 118% growth rate. With that accessible attitude in mind, Planet Fitness tries particularly to target the 80% of the American and Canadian population who dont have gym memberships. This covers the cost of being able to use their name and logo. - In Saudi Arabia currency, the investment comes around SR 3,64 million to SR 15,91 million. By becoming a franchise owner, you can benefit from a proven business model, existing customer base, and franchisee support system. "[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. So long as you are not decided on the fitness industry, we recommend you have a look at other offerings. Get in touch with Planet Fitness Owners from around the US with verified contact data for all owners of all Planet Fitness locations. SVP Communications and Corporate Social Responsibility, General Counsel and SVP, International Division. With that said, a Planet Fitness franchise . Office Depot, Planet Fitness, Roto Rooter, Starbucks, Taco Bell, Travelers, and United Health Group. The graph below and the table that accompanies it depicts the total return to shareholders between 2015 and 2021 on Planet Fitness class A common stock relative to the performance of the S&P 500 Index and the Russell 2000. 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. The most popular workout model from Snap Fitness is known as MYFIT. You may need additional operating capital, or you may need it for a longer period of time. 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. 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. 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. Over the last three years, franchises have opened at a rate of 148 units a year. [49] [50], Since 2015, Planet Fitness has been a personal sponsor of NASCAR driver and champion Joey Logano. [18] This low-cost business model focuses on the needs of occasional or first-time health club members, rather than more experienced members,[6] and depends on many members rarely showing up. Kathy Gentilozzi joined Planet Fitness in 2019 as the Companys Chief People Officer. Currently, Golds Gym franchise has available markets in almost every state across the country, and select international opportunities. 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. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. Due Date: Paid monthly and annually. Mr. Fitzgerald began his career at PepsiCo, where he held various leadership roles in finance and planning. 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. We offer the most complete and most accurate mailing/telemarketing list for Planet Fitness franchise owners. - In Indian currency, the investment comes around Rs 7,14 crores to Rs 31,23 crores. Franchise Sales Manager Planet Fitness 4 Liberty Lane West Hampton, NH 03842 Phone: (603) 750-0001 Year Business Began: 1992. 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. In this role, he will lead the Companys technology evolution and strategy, focused on delivering technology solutions that will continue to enhance the member experience while optimizing infrastructure, data and operations for flexibility and scale. ", "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. At that time, Michael Grondahl stepped down as CEO and Chris Rondeau took his place and has held the position since. The chain has over a thousand locations with over 400 units outside the US. 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. [14] Berks later went on to open the first Youfit Health Club in St. Petersburg, Florida. Except for signage, Planet Fitness will not require substantial remodeling more often than every 5 years during the term of the Franchise Agreement. Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. Our research and analytics team analyzed over 120 franchise concept investment breakdowns in order to calculate this figure. Pre-qualified offers are not binding. Join now to become a registered PFIFC member and gain access to a wealth of information that will help you succeed as a Planet Fitness owner. You'll build confidence while increasing your fitness knowledge. 6.4 miles away from Planet Fitness. 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. [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. We believe everyone should be able to make financial decisions with confidence. Former Gov. You must maintain your equipment according to Planet Fitness brand standards. Fitness centers have experienced sustained growth since the post-economic crisis in 2009. 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. NerdWallet strives to keep its information accurate and up to date. [27], In February 2016, the franchise was added to the Franchise Times' "Fast and Serious" list of top franchises (No. This FREE 10-part progressive program will help you get movin'. 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. Prior to joining Planet Fitness, Ms. Simmons worked in Finance and Business Planning roles for Timberland, PepsiCo, and Fisher Scientific International. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. [48], Since December 2014, Planet Fitness has been the official fitness sponsor of Dick Clark's New Year's Rockin' Eve on ABC. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. 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). Estimated annual transaction costs per location range from $9,000- $72,000, Equal to 50% of our then-current initial franchise fee. There are some units of Planet fitness franchisees making more than that or some making less than that. [6], In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. [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. You have to pay this upfront fee when opening a Planet Fitness franchise. Initial term lengths last 10 years. Assistant Assigning Editor | Small-business finance, personal finance. Comment. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. In 2020, he joined the International Franchise Association (IFA) Board of Directors; board members are drawn from a world-class set of franchise brands. While at Dunkin Brands, he helped lead the technology team that rolled out mobile ordering across 9,000 locations. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. The Grondahls changed the gyms name to Planet Fitness in 1994. Annually Updated with New Owners of Planet Fitness Locations in the USA. [41][42] In October 2015 the company opened their second international location in Santo Domingo, Dominican Republic. 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. Ms. Gosselin was named a Top Woman in PR by PR News in 2020. [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. Even more reason to consider investing in a gym franchise? [28] It ranked in the top 50 of Entrepreneur magazine's Franchise 500 in 2017. Do not sell or share my personal information. Owner WIRED Telcom 159 W 1st Street Oswego, NY 13126 Phone: (315) 326-3350 . Across 50 states the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. If you are thinking about how to open a Planet Fitness franchise, begin with a franchise investment information. Planet Fitness ( PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. There are tons of gym franchises seeking new location owners, but this list represents nine of the most promising gym franchises on the market right nowbased mainly on name recognition, growth rate, and franchisor support system. All initial fees are the same for both initial and conversion franchises. 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. Throughout the years, Chris played a critical role in developing and refining the unique, low-cost/high-value business model and lean operating system that revolutionized both the fitness and franchising industry. It offers classes for dance, aqua, cycle, box, pilates, and many more. Franchising Since: 2000. Pure to Joseph Pilates' original Reformer-based Contrology Method, but modernized with group read more. This large discrepancy indicates the potential different costs you could face when building your Orange Theory franchise as a franchisee. Both franchising units and company-operated stores have increased. 1),[16] and in its 2016 ranking of franchises, Forbes magazine ranked Planet Fitness No. Franchise fee: one-time $42,500 Royalty fees: $699/mo Planet Fitness Planet fitness has locations in Canada, Mexico, Panama, and all 50 states of the US. * 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. 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.
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planet fitness franchise owners list