If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. from Boston University and an M.B.A. from the University of Denver, Daniels College of Business. Prior to Dunkin, she worked at various communications agencies in both Boston and Washington, DC on behalf of various leading retail brands. [13] The new model was an effort to provide a fitness hub for everyday people. 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. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. In this role, he leads all aspects of our U.S. * 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. We reviewed the larger franchise industry as well as selling price multiples for larger systems where more transaction data is available. 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. 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. 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. Fitness franchises are currently booming with the largest franchises globally being Anytime Fitness and Planet Fitness. 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, 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. Even more reason to consider investing in a gym 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 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. Performing this action will delete your account. 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. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. Franchising Since: 2000. In other words, franchising takes most of the heavy lifting off your shoulders. Pure to Joseph Pilates' original Reformer-based Contrology Method, but modernized with group read more. 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 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. The $10 per month level includes access to cardio and strength equipment, unlimited group fitness instruction and pizza and bagels once a month; the $24.99 per month ("Black Card") level allows members to bring one guest per day at no charge, access to all Planet Fitness locations, and access to extra amenities, such as tanning booths, massage chairs, red light therapy and water massage beds. Overall, Planet Fitness is making a decent amount of profit, and we also see that the profit chart . That said, Orangetheory is designed for people of all fitness levels, since participants can go entirely at their own pace. Estimated total initial investment: $198,650 to $446,250. [32][33], Planet Fitness started franchising units in 2003. This information may be different than what you see when you visit a financial institution, service provider or specific products site. Estimated total initial investment: $303,000 to $499,850. 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. 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. But perhaps most important to this process is interviewing current franchisees. Initial franchise terms are 10 years. Have questions? Initial term lengths last 10 years. Over the last three years, the company has been expanding. 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. Planet Fitness franchise is growing, and it is growing fast. 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. SVP Communications and Corporate Social Responsibility, General Counsel and SVP, International Division. 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 estimated total investment necessary to begin the operation of an Orange Theory Franchise ranges from $657,542 to $2,105,322. With that said, a Planet Fitness franchise . Owning a. means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. Orange Theorys success is quite similar to Pelotons rise to fame. Call us direct at (855) 822-0912, Get Contact Details & Mailing List of Planet Fitness Franchisees, The difficult part of this step of the franchise buying due diligence. 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). This is a good indication of high growth as a company overall. 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. 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. 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. We got you! Find Accurate Contact Data for Fitness Franchise Owners. Your actual costs may be higher or lower depending on the size of your Planet Fitness business, the volume, and usage of your members, or changes in the market. 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. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. 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. in Pilates. The Fitness Center industry has over 111,000 businesses with a market size of $34 billion, and it supports over 800,000 jobs. 8. All initial fees are the same for both initial and conversion franchises. Currently, the Planet Fitness franchise has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. In this role, he is responsible for all aspects of financial strategy and management. 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 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. [34] The royalty fee for a Planet Fitness is 7% of the total gross monthly and annual membership fees. Both franchising units and company-operated stores have increased. They opened a new gym called Coastal Fitness and the Grondahls hired current CEO. Initial franchise fee: $30,000 to $50,000, Estimated total initial investment: $100,000 to $2 million. Assistant Assigning Editor | Small-business finance, personal finance. Planet Fitness Independent Franchisee Council Join Us Today! Net Worth Requirement: $3,000,000 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. Ms. Gosselin was named a Top Woman in PR by PR News in 2020. The following costs are part of the upfront costs included in the initial investment for Planet Fitness locations. Planet Fitness has more members and locations than any other fitness brand. 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. Prior to Potbelly, he served in varying executive roles at Charming Charlie Inc. including President and Chief Financial Officer, and Chief Administrative Officer. 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. [17], As part of their effort to create a non-intimidating environment, Planet Fitness has alienated many serious weight lifters. Ms. Gentilozzi has more than 30 years of Human Resources leadership experience at national retail brands, most recently serving as Executive Vice President of Human Resources at FULLBEAUTY Brands where she led all HR initiatives to support 2,000 associates. Ms. Gentilozzi is a certified Senior Professional in Human Resources (SPHR). 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. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. She has also held editing roles at LearnVest, a personal finance startup, and its parent company, Northwestern Mutual. 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. Compared to $145 million in 2020, they saw an increase of 44% from 2020 to 2021. United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. The name came from his daughter's school project, "Fitness Planet". [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. Ad Royalty Fee: $300/mo. Many of these are one-time fees that are needed to launch the franchise. [47] The contestants on the show worked out on Planet Fitness equipment and then at Planet Fitness gyms near their homes, working with Planet Fitness instructors. $10,000, plus our reasonable out-of-pocket expenses, including external legal and administrative costs we incur in connection with the transfer. Liquid Cash Requirement: $1,500,000. Additional Training: Ongoing training Mr. ODonnell holds a CPA and received his Bachelors degree in Accounting from Assumption College in Massachusetts. [31], While Planet Fitness closed many facilities during the onset of the COVID pandemic, during the Delta and Omicron variants there was not a decrease in gym attendance. has over 8,900 franchises across the country. Paul Barber joined Planet Fitness in October 2022 as the Companys Chief Information Officer. They opened a new gym called Coastal Fitness and the Grondahls hired current CEO Chris Rondeau, who was still in college at the time, to run the gyms front desk. | United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. 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. 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. The Initial Franchise Fee is uniform and non-refundable. Although gym franchises require that the owner has previous management experience, most dont require experience in the fitness industry. This investment is much higher than the industry standard of $253,000. If you can name a franchise business, it's probably on our Franchise owners marketing list. In this role, she oversees general HR operations, talent acquisition, leadership development, business partner support, culture and employee engagement, benefits and compensation. Pre-qualified offers are not binding. 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. 4. It offers classes for dance, aqua, cycle, box, pilates, and many more. Initial Franchise Fee: $20,000 Prior to joining Planet Fitness, Mr. 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. 4 Liberty Ln. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. 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. 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. Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). "I decided I didn't want to deal with that crowd, so that's when I opened the original Planet Fitness club in Sunrise, Florida, in 1993." They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see. However, this ultra-famous franchise is the most expensive on this list, with an estimated upfront investment potentially reaching over $5 million. Pre-qualified offers are not binding. Orange Theory Franchise was founded in Boca Raton, Florida in 2009. We also suggest that you speak to 3 5 Planet Fitness owners before opening one yourself. 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. An individual planet fitness franchise owner can make around $513,00 to $5,554,000 annually. [61], In January 2020, Planet Fitness partnered with The Biggest Loser to be the official sponsor of the show's 2020 reboot.[62]. We offer detailed franchise research and contact data reports. Many or all of the products featured here are from our partners who compensate us. Our partners cannot pay us to guarantee favorable reviews of their products or services. When evaluating offers, please review the financial institutions Terms and Conditions. Paid Grace Period. 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. Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. Headquarters: Hampton, New Hampshire. Investing in an Orange Theory franchise is an interesting opportunity, especially for individuals looking to make their way into the Fitness industry. Ultimately, the only way to know which gym franchise is right for you is to do your own due diligence. 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 . 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. Planet Fitness franchise was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. [17] They also dramatically reduced prices to compete against better-known brands. 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? For example, this includes replacing your cardio equipment every 5 years and replacing your non-cardio equipment every 7 years. If you are thinking about how to open a Planet Fitness franchise, begin with a franchise investment information. Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. 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. 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. The Judgement Free Zone was started to help first-time gym users feel more comfortable starting their fitness journey. 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.