You have to pay this upfront fee when opening a Planet Fitness franchise. Estimated total initial investment: $1 million to $4.1 million. 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. Then, the last four workouts in the program will take place in the gym and you'll learn how . 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. The board of directors at Planet Fitness is as follows: Stephen Spinelli, Jr. (Ph.D.), Chairman Chris Rondeau (CEO) Bernard Acoca Enshalla Anderson Craig Benson Cammie Dunaway Frances Gregg Rathke Christopher Tanco [41][42] In October 2015 the company opened their second international location in Santo Domingo, Dominican Republic. Pure to Joseph Pilates' original Reformer-based Contrology Method, but modernized with group read more. 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. Find other similar franchises in our catalog! Ms. Kaplan holds a B.S. We reviewed the larger franchise industry as well as selling price multiples for larger systems where more transaction data is available. Golds Gym also requires that potential franchisees have a minimum of $1 million in net worth and $400,000 in liquid assets. Planet Fitness franchise is one of the largest fitness US chains by a number of members and locations. Former Gov. 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. At Yum! This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Currently, Golds Gym franchise has available markets in almost every state across the country, and select international opportunities. Disclaimer: NerdWallet strives to keep its information accurate and up to date. Review the chart below to see how much it costs to buy a Planet Fitness franchise in 2022. 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. The following costs are part of the upfront costs included in the initial investment for Planet Fitness locations. Building in competition to workouts enhances ones motivation and keeps consumers coming back. 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. "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." [49] [50], Since 2015, Planet Fitness has been a personal sponsor of NASCAR driver and champion Joey Logano. 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. Fitness centers have experienced sustained growth since the post-economic crisis in 2009. We now have: 2,400+ locations open (and we're just getting started!) 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. [6], In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. He held multiple store operations positions with P&L responsibility progressing from Store Manager to Regional Manager. We were opening our 5th store then. So how do we make money? ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. Call (888) 977-4374. Throughout her tenure with Planet Fitness, Ms. Simmons built the Business Strategy and Analytics functions from the ground up, leveraging data, analytics and insights to develop and drive Planet Fitness overarching corporate strategy, propel the business forward, and reinforce the brands industry leadership position. Even more reason to consider investing in a gym franchise? Orange Theory Franchise was founded in Boca Raton, Florida in 2009. When evaluating offers, please review the financial institutions Terms and Conditions. Planet Fitness Franchise Cost The estimated total investment necessary to begin the operation of a Planet Fitness Franchise ranges from $1,625,600 - $4,921,000. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. Prior to joining Planet Fitness, Mr. Vartanian was a corporate attorney at Devine Millimet. This FREE 10-part progressive program will help you get movin'. According to their website, Pure Barre is the oldest and most established barre studio out there. Order now to get instant access to the complete Planet Fitness franchise owners. - In the United States, the total investment to start the Planet Fitness gym is around $969,600 to $4,242,500. [32][33], Planet Fitness started franchising units in 2003. 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. 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 With that said, a Planet Fitness franchise . 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. [17], As part of their effort to create a non-intimidating environment, Planet Fitness has alienated many serious weight lifters. 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. He joined Planet Fitness in 2016 as the Senior Vice President of Franchise Operations. [34] The royalty fee for a Planet Fitness is 7% of the total gross monthly and annual membership fees. There are very few reasons why one might want to open a Planet Fitness franchise. Due Date: Paid monthly and annually. Many or all of the products featured here are from our partners who compensate us. We started our business in 1992 and refined our brand for a decade or so before franchising in 2003. However, the profit varies on your location also. NerdWallet strives to keep its information accurate and up to date. service, Computer System. The highest Planet Fitness franchise made over 3 million dollars in revenue, whereas the lowest earning one made $165,000. It is reported to be the nations fastest growing fitness center franchise. Throughout his tenure at Dunkin Brands, Mr. 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. 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. Therefore, this may include substantial remodeling of your premises as frequently as every 5 years. Owning a fitness franchise is a fantastic way to enter into the multi-billion dollar fitness industry. Headquarters: Hampton, New Hampshire. 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. Bode was also responsible for U.S brand compliance and business development along with leadership positions overseeing training, store development, marketing, and franchising. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. We believe everyone should be able to make financial decisions with confidence. [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. Office Depot, Planet Fitness, Roto Rooter, Starbucks, Taco Bell, Travelers, and United Health Group. Find Accurate Contact Data for Fitness Franchise Owners. The chain has over a thousand locations with over 400 units outside the US. Prospective owners are asked to have a minimum net worth of $3 million and a minimum of $1,500,000 in liquid capital. Verizon Wireless, and Westin, just to name a very few. Planet Fitness offers people the opportunity to be a part of the fitness business, but we do not believe this is sustainable. Robert Beaupre leads the SMB team at NerdWallet. This could be an indicator that franchisees are doing really well. 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 that, he served as the Director and General Manager of internet startup Kozmo, where he was responsible for new market development and operations. Thanks to that near-legendary status in the fitness world, and their loyal customers. Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. Franchising began one year later, and today Orange Theory studios can be found in 18 countries, and across 49 states. is growing quickly: In 2018, The Bar Method saw a 118% growth rate. Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). From the start, Planet Fitnesswas an inclusive, non-intimidating gym and in 1997, Planet Fitness officially unveiled its Judgement Free Zone philosophy. 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. That said, Orangetheory is designed for people of all fitness levels, since participants can go entirely at their own pace. "[20] In 2003, Planet Fitness opened its first franchised location in Florida, with Eric Dore and Shane McGuiness. Before joining NerdWallet, he served as senior editorial manager of QuinStreet's insurance sites and managing editor of Insure.com. 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. Benson, who co-founded the former Cabletron Systems, once the . Youre about to cancel your subscription. 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. 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. Planet Fitness ( PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. - In Indian currency, the investment comes around Rs 7,14 crores to Rs 31,23 crores. 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. Our partners compensate us. Planet Fitness's franchise fee is $10,000 for a 10-year renewable agreement, though the total investment ranges from $700,000 to $3.8 Million. Pre-qualified offers are not binding. In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. If a fitness business with a franchise sounds good, heres nine of the most promising options for a gym franchise. from Boston University and an M.B.A. from the University of Denver, Daniels College of Business. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. Have questions? The second Toronto location opened in early 2015. 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 . Browse 1000s of reports on 1000s of franchise systems. Owning a UFC Gym means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. Ms. Gentilozzi is a certified Senior Professional in Human Resources (SPHR). 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. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. The Planet Fitness franchise sets itself apart from other gyms by being the "Judgement Free Zone" where everyone can feel comfo. Absentee Ownership Allowed, Planet Fitness Franchise Info: https://www.planetfitness.com. Orange Theory was ranked 49th in the franchise 500 rankings according to entrepreneur.com. One of the best ways to thoroughly research a franchise or business opportunity investment before purchasing one is to get feedback from current and former franchisees involved in the franchise system. Planet Fitness Independent Franchisee Council Join Us Today! In 2020, he joined the International Franchise Association (IFA) Board of Directors; board members are drawn from a world-class set of franchise brands. Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing gym franchises in the United States. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. The name came from his daughter's school project, "Fitness Planet". If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. 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 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.