Royalty fees and advertising fees are generally calculated as a percentage of gross sales in franchise agreements, but Anytime Fitness rates are flat from month to month, which makes it easier for you to plan and organize your expenses. Looks like your subscription is due. Your Royalty payment is currently based on the total gross monthly and annual membership fees for the, You must maintain your equipment according to, Your actual costs may be higher or lower depending on the size of your, You must maintain the franchise premises according to, Franchise Disclosure Document (FDD) Database, Your Lender; Approved Suppliers; Our Affiliate, Paid to various media companies and other third parties to promote the opening of your business, Computer System, Point of Sale System, and other Supplies, Utilities, banks/credit card companies, leased equipment vendors, alarm company, telephone company, Your Out-of-Pocket Initial Training Expenses. Under Rondeau's leadership, Planet Fitness has experienced tremendous growth and has been recognized for many accolades including, Entrepreneur Franchise 500 - Fastest Growing Franchise List, Franchise Times' Top 200, Forbes' America's Best Franchises, Newsweek Best Customer Service, and Best Places to Work in New Hampshire. Initial franchise terms are 10 years. These figures are estimates based on Planet Fitness and its affiliates experience in operating locations. Orange Theory Franchise was founded in Boca Raton, Florida in 2009. 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. Planet Fitness Independent Franchisee Council Join Us Today! 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. [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. As can be seen, Planet Fitness stock has outpaced the S&P 500 by almost 2x. 6.4 miles away from Planet Fitness. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. You have to pay this upfront fee when opening a Planet Fitness franchise. Club Pilates North Shore is a boutique Pilates studio specializing in reformer fusion classes for anyone, at any age or fitness level. 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. Call (888) . ? However, this ultra-famous franchise is the most expensive on this list, with an estimated upfront investment potentially reaching over $5 million. We got you! locations around the U.S. as well as Canada and the Dominican Republic. Both of these fitness companies, while they differ in business models, use your own fitness data and others to create a competitive atmosphere. 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. This investment is much higher than the industry standard of $253,000. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105. Sherrill Kaplan joined Planet Fitness in June 2021 as Chief Digital Officer. 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. Crunchs fees are on the lower end of the scale: Royalty fees are 5% of monthly gross sales, and advertising fees are 2% of monthly gross sales. 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. [25][26] The company went public on August 6, 2015. After you cover your startup costs, your total gross monthly take could greatly exceed your expectations, depending on how many memberships you sell. 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? Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. 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. 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). was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. You must be logged in to view this form. process lies in obtaining a current list of Planet Fitness franchise owners. [44][37] In 2016, over 90% of Planet Fitness locations were opened by existing franchise owners. [14] Berks later went on to open the first Youfit Health Club in St. Petersburg, Florida. Join PFIFC 1 comment. 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. You'll build confidence while increasing your fitness knowledge. We were opening our 5th store then. The franchise requires that candidates have access to over $90,000 in liquid capital, and a minimum net worth of $300,000. Disclaimer: NerdWallet strives to keep its information accurate and up to date. 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. Do not sell or share my personal information. 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 . The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. This large discrepancy indicates the potential different costs you could face when building your Orange Theory franchise as a franchisee. Net Worth Requirement: $3,000,000 Franchise candidates can expect to pay anywhere between $354k to $1.2m. Initial term lengths last 10 years. "[22], As early as March 2015, the "Judgement Free Zone" policy was expanded to allow trans women to use the women's locker room. Cash Required $1,500,000. Planet Fitness (PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. 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. They provide an affordable, high-quality fitness experience in a welcoming environment. Planet Fitness has more members and locations than any other fitness brand. We also suggest that you speak to 3 5 Planet Fitness owners before opening one yourself. 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. "[20] In 2003, Planet Fitness opened its first franchised location in Florida, with Eric Dore and Shane McGuiness. New franchise owners can also expect to participate in a comprehensive training program, as the franchise requires their franchisees to be certified barre instructors. 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 "[23], In the fall of 2013, TSG Consumer Partners LLC became an equity partner in the Planet Fitness franchise. 4. You must maintain the franchise premises according to Planet Fitness brand standards. Ms. Medeiros has been instrumental in developing and refining Planet Fitness marketing strategy and differentiated Judgement Free positioning in the fitness industry. At that time, Michael Grondahl stepped down as CEO and Chris Rondeau took his place and has held the position since. Initial franchise terms are 10 years. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. This is significantly lower than the midpoint investment of $3,273,500. Their website reads, We are not currently accepting new franchisee applications for US expansion.. 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. That said, Orangetheory is designed for people of all fitness levels, since participants can go entirely at their own pace. The Planet Fitness franchise sets itself apart from other gyms by being the "Judgement Free Zone" where everyone can feel comfo. Annually Updated with New Owners of Planet Fitness Locations in the USA. He joined Planet Fitness in 2016 as the Senior Vice President of Franchise Operations. Planet Fitness ( PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. Before the pandemic, it was growing at a rate of approximately 200 units a year, which is impressive. However, the profit varies on your location also. Planet Fitness Franchise Owners Contact List $ 149 Add to cart; GNC Franchisee Owners List $ 129 - $ 179 Select options; Club Pilates Franchisee Owners List $ 99 Add to cart; Golds Gym Franchisee Owners List 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. 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. Assistant Assigning Editor | Small-business finance, personal finance. in Management Information Systems from Northwood University. This model has become extremely sticky in the fitness industry because while many people want to achieve their fitness goals, they innately lack motivation. The Area Development Fee is in addition to the then-current Initial Franchise Fee due for each location at the time the Franchise Agreement for that location is executed. Find Accurate Contact Data for Fitness Franchise Owners. [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. Although gym franchises require that the owner has previous management experience, most dont require experience in the fitness industry. 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. Initial Franchise Fee: $20,000 This information may be different than what you see when you visit a financial institution, service provider or specific products site. 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. Prior to Sonus, he worked for more than 10 years in public accounting with both Deloitte and Touche and Arthur Andersen. Justin Vartanian serves as General Counsel and SVP, International Division overseeing all legal matters and international development. You have to pay this upfront fee when opening a Planet Fitness franchise. She played a pivotal role in creating breakthrough nation marketing campaigns that have built the brand over the past two decades, including iconic advertising campaigns like Lift Things and No Gymtimidation, along with pillar marketing sponsorships like the brands New Years Eve celebration in Times Square. 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. Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. [34] The royalty fee for a Planet Fitness is 7% of the total gross monthly and annual membership fees. Our research and analytics team analyzed over 120 franchise concept investment breakdowns in order to calculate this figure. Earlier in her career, Ms. Kaplan held several digital and marketing leadership roles at global brands including American Express and Citi, Inc. She serves as an independent member of the Fiesta Restaurant Group Board of Directors, as well as the Massachusetts Innovation & Technology Exchange (MITX). [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. Pure to Joseph Pilates' original Reformer-based Contrology Method, but modernized with group read more. [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. All financial products, shopping products and services are presented without warranty. The Planet Fitness initial franchise fee is $20,000. Upon your submission of your Construction Development Plans for our approval, Point of Sale Support, Processing and Account Management Services Fees, $149-$199 plus processing and credit card fees based on the number of transactions processed per month or number of eligible accounts enrolled in collections. Many of these are one-time fees that are needed to launch the franchise. Bode was also responsible for U.S brand compliance and business development along with leadership positions overseeing training, store development, marketing, and franchising. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. The policy states that "members and guests may use all gym facilities based on their sincere self-reported gender identity. 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. 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. Owning a fitness franchise is a fantastic way to enter into the multi-billion dollar fitness industry. From there, youll receive additional materials to help inform your decision, including the all-important franchise agreement, including the franchise disclosure document (FDD). All reactions: 8. The most popular workout model from Snap Fitness is known as MYFIT. Initial term lengths last 10 years. Rated Excellent on TrustPilot with feedback from 50+ customers. Your experience may vary depending on whether you finance tenant improvements, your location, and other factors. It is important to talk to other franchisees and see what their costs were for leasehold improvements and construction. Paul Barber joined Planet Fitness in October 2022 as the Companys Chief Information Officer. The initial Planet Fitness Franchise Fee is $20,000. 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. Planet Fitness franchisees also compete against other smaller gym and fitness business locations. LearningRx Franchise Corporation 5085 List Drive, #200 Colorado Springs, CO 80919 Phone: (719) 264-8808 Liz Anderson . Bringing Franchise Owners Together to Share and Grow. Of the total gross monthly and annual membership fees payable to you via EFT Dues Draft. If you can name a franchise business, it's probably on our Franchise owners marketing list. From the start, Planet Fitnesswas an inclusive, non-intimidating gym and in 1997, Planet Fitness officially unveiled its Judgement Free Zone philosophy. In this role, he is responsible for all aspects of financial strategy and management. 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. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. [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. "[21] Planet Fitness has been criticized for prohibiting certain weightlifting exercisessuch as deadlifts and clean-and-jerksthat many experts believe are highly effective. This metric is the standard industry investment amount for a single unit franchise investment in this industry. 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. Benson, who co-founded the former Cabletron Systems, once the . In this role, he oversees the Companys accounting and treasury functions. Under Rondeaus leadership, Planet Fitness has experienced tremendous growth and has been recognized for many accolades including, Entrepreneur Franchise 500 Fastest Growing Franchise List, Franchise Times Top 200, Forbes Americas Best Franchises, Newsweek Best Customer Service, and Best Places to Work in New Hampshire. Lets get started. Prior to joining Planet Fitness, Mr. Vartanian was a corporate attorney at Devine Millimet. Co-founder, Elle Latham, decided to open a gym to implement her personally designed workout, which eventually became the basis for Orange Theorys system. 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. Prior to Jiffy Lube, he served on Shells global Downstream Acquisitions & Divestments Leadership Team with responsibility for transaction delivery across North and South America. Prior to joining Planet Fitness, Ms. Simmons worked in Finance and Business Planning roles for Timberland, PepsiCo, and Fisher Scientific International. [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. 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. You'll also benefit from . In this role, she oversees general HR operations, talent acquisition, leadership development, business partner support, culture and employee engagement, benefits and compensation. To assign a valuation multiple for Planet Fitness franchises, we leverage estimates from DealStats, a database of acquired private company transactions sourced from U.S. business brokers and SEC filings. When evaluating offers, please review the financial institutions Terms and Conditions. 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. Planet Fitness estimates the costs to upgrade and/or remodel your facility will range from $70,000 to $600,000 every 5 years. Orangetheory claims to be one of the fastest-growing franchises in the world, and theyre ranked 60th in Inc. Magazines Fastest Growing Private Companies List. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. Estimated annual transaction costs per location range from $9,000- $72,000, Equal to 50% of our then-current initial franchise fee. Compared to $145 million in 2020, they saw an increase of 44% from 2020 to 2021. - In Malaysian currency, the investment comes around MYR 3,93 million to MYR 17,21 million. 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. To open a gym, a franchisee must have a net worth of $3 million with a minimum of $1,500,000 in liquid assets. Paid by you to advertisers or Planet Fitness if it elects to collect from you. Planet Fitness competes in the Fitness market against big brand companies such as Orange Theory and Golds Gym. 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 is a profitable business for the franchisor, with retained earnings of $210 million in 2021. The fitness center industry is mainly divided into two groups, either a specialized fitness boutique or a full-scale gym with multiple amenities and services. Prior to Dunkin, she worked at various communications agencies in both Boston and Washington, DC on behalf of various leading retail brands. Planet Fitness franchise is growing, and it is growing fast. The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. 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. Owning a UFC Gym means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. 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. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. 1,600+ locations open and we're just getting started! There are both advantages and disadvantages of franchising, so make sure you weigh both sides thoroughly. Before joining NerdWallet, he served as senior editorial manager of QuinStreet's insurance sites and managing editor of Insure.com. 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. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. The number of fitness franchise locations has been steadily increasing to a total of about 2,039. . [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. Planet Fitness growth continued over the next decade and in 2013, TSG Consumer Partners, LLC became an equity partner in the Planet Fitness franchise. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. 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. Initial investments: $969,600 - $4,242,500 Net Worth Requirement: $3,000,000 Liquid Cash Requirement: $1,500,000 Estimated Initial Investment So how do we make money? This document includes information about the franchises financial standing, capital requirements, franchisee training, and ongoing franchise fees, among other crucial information. The fitness center industry has grown with the rise in disposable income and demand for a more health-conscious lifestyle among millennials. 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. In her role as Chief Brand Officer, she is responsible for leading Planet Fitness brand strategy and working collaboratively with agencies and across the organization to ensure the brand vision comes to life through national and local marketing strategy, creative, brand marketing sponsorships and activations, and social media. The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. Estimated Number of Units: 2,300. The estimated total investment necessary to begin the operation of a Planet Fitness Franchise ranges from $1,625,600 $4,921,000. Share. Franchise Sales Manager Planet Fitness 4 Liberty Lane West Hampton, NH 03842 Phone: (603) 750-0001 industry. [36], The company reports that as of 2019, there are 80 corporate-owned gyms, the rest independently owned and operated. This routine is an 18-minute HIIT workout that targets cardio and endurance. 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 . Pre-qualified offers are not binding. Then, the last four workouts in the program will take place in the gym and you'll learn how . 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. The Fitness Center industry has over 111,000 businesses with a market size of $34 billion, and it supports over 800,000 jobs. has opened over 4,000 locations on all seven continents. 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. Get in touch with Planet Fitness Owners from around the US with verified contact data for all owners of all Planet Fitness locations. 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. Annually Updated with New Owners of Planet Fitness Locations in the USA. [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. Ongoing Royalty Fee: $449 - $549/mo. There are very few reasons why one might want to open a Planet Fitness franchise. Thanks to that near-legendary status in the fitness world, and their loyal customers, Jazzercise has over 8,900 franchises across the country. These numbers indicate that potential earnings can vary significantly, and it depends on factors such as locations and how well the business is run. We started our business in 1992 and refined our brand for a decade or so before franchising in 2003. Comment. 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. For example, this includes replacing your cardio equipment every 5 years and replacing your non-cardio equipment every 7 years. 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 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. Ms. Medeiros received her Bachelors degree from the University of New Hampshire. The initial Planet Fitness Franchise Fee is $20,000. 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. Prior to that he served as the Chief Operating Officer since 2003. 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. Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments).
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