. Benson is back on the board of Planet Fitness While at Dunkin Brands, he helped lead the technology team that rolled out mobile ordering across 9,000 locations. You must maintain your equipment according to Planet Fitness brand standards. Initial investments: $969,600 - $4,242,500 Even though its smaller than Pure Barre, The Bar Method franchise is growing quickly: In 2018, The Bar Method saw a 118% growth rate. For example, this includes replacing your cardio equipment every 5 years and replacing your non-cardio equipment every 7 years. 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. [22] In 2010, Men's Health magazine called Planet Fitness "the worst gym in America. [49] [50], Since 2015, Planet Fitness has been a personal sponsor of NASCAR driver and champion Joey Logano. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. Mr. Fitzgerald began his career at PepsiCo, where he held various leadership roles in finance and planning. An innovative entrepreneur, Mr. Rondeau was honored as an EY Entrepreneur of the Year and inducted into the UNH Alumni Entrepreneur Hall of Fame. Planet Fitness is a profitable business for the franchisor, with retained earnings of $210 million in 2021. In 2020, he joined the International Franchise Association (IFA) Board of Directors; board members are drawn from a world-class set of franchise brands. With that said, a Planet Fitness franchise . Planet Fitness Franchise Pure Barre has over 500 open locations across North America with tons of available studio markets in the U.S. Year Business Began: 1992. [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. You must maintain the franchise premises according to Planet Fitness brand standards. Planet Fitness franchisees also compete against other smaller gym and fitness business locations. 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. - In the United States, the total investment to start the Planet Fitness gym is around $969,600 to $4,242,500. McCall Gosselin joined Planet Fitness in January 2013 and currently serves as SVP of Communications and Corporate Social Responsibility. Paid by you to advertisers or Planet Fitness if it elects to collect from you. Headquarters: Hampton, New Hampshire. was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. 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. 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. The chain has over a thousand locations with over 400 units outside the US. 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. 1 comment. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. 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. Prior to joining the Company, Mr. ODonnell most recently served as Vice President of Finance and Chief Accounting Officer at Sonus Networks. industry. To be eligible to open a. , candidates must have at least $1 million in net worth and access to $300,000 to $400,000 in liquid assets. Estimated total initial investment: $304,500 to $2.1 million. Top Fitness Franchises to Check Out - Franchise How 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. Initial term lengths last 10 years. 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. Even if your network of Planet Fitness franchises earns above $% a million, you will not be able to recover costs just by selling it. [41][42] In October 2015 the company opened their second international location in Santo Domingo, Dominican Republic. [11][12] Berks had been catering to the bodybuilding culture in his Gold's Gym. [27], In February 2016, the franchise was added to the Franchise Times' "Fast and Serious" list of top franchises (No. Planet Fitness offers people the opportunity to be a part of the fitness business, but we do not believe this is sustainable. Currently, the Planet Fitness franchise has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. Ms. Kaplan holds a B.S. Across 50 states the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia PDF Together We Are Franchising Here is a list of our partners. Estimated total initial investment: $1 million to $4.1 million. Club Pilates North Shore is a boutique Pilates studio specializing in reformer fusion classes for anyone, at any age or fitness level. [14] Berks later went on to open the first Youfit Health Club in St. Petersburg, Florida. in Management Information Systems from Northwood University. So how do we make money? If a fitness business with a franchise sounds good, heres nine of the most promising options for a gym franchise. 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. The owner of the franchise (the franchisee) is expected to be involved in all aspects of day-to-day operations. Planet Fitness Fitness clubs 2023 Franchise 500 Rank #28 Ranked #7 last year See the Full List Initial investment $1.6M - $4.9M Units as of 2022 2,324 25.0% over 3 years Jump to Franchising. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. With that in mind, Planet Fitness franchisees will need to pay for that international brand recognitionopening a Planet Fitness franchise may cost over $4 million. FranchiseComplaints.org Mr. Fitzgerald has over 30 years of leadership experience in financial management in the retail industry, most recently serving as Chief Financial Officer and Senior Vice President at Potbelly Sandwich Works. Planet Fitness Franchise Owners Contact List - In Canadian currency, the investment comes around Can$ 1,231,300 to Can$ 5,387,800. Planet Fitness franchise costs, based on Item 7 of the company's 2022 FDD: Initial Franchise Fee: $20,000 Site Selection Costs: $0 to $10,000 Construction Development Plan Review Fee: $0 to $4,000 Leasehold Improvements: $1,250,000 to $2,163,000 Fitness Equipment: $34,000 to $953,000 Non-Fitness Equipment: $63,000 to $825,000 Planet Fitness Gym - Franchise Solutions 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 Planet Fitness initial franchise fee is $20,000. Even after the pandemic hit, it continued to grow at a rate of over 100 units. Investing in an Orange Theory franchise is an interesting opportunity, especially for individuals looking to make their way into the Fitness industry. It offers classes for dance, aqua, cycle, box, pilates, and many more. 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. In her role as Division President, Corporate Clubs, Ms. Simmons will be responsible for leading the Company's Corporate Club portfolio including driving overall performance, leading and developing the team, and identifying strategic growth and expansion opportunities of the brand's corporate store fleet, which consists of more than 200 locations across 14 states and Canada. Fitness franchises are currently booming with the largest franchises globally being Anytime Fitness and Planet Fitness. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. [25][26] The company went public on August 6, 2015. The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. 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. Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. 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. You are going to downgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. ? Pre-qualified offers are not binding. Our opinions are our own. 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. Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. This is a good indication of high growth as a company overall. Ad Royalty Fee: $300/mo. - In Saudi Arabia currency, the investment comes around SR 3,64 million to SR 15,91 million. This investment is much higher than the industry standard of $253,000. 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 Planet Fitness (PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. Franchise candidates can expect to pay anywhere between $354k to $1.2m. Estimated total initial investment: $303,000 to $499,850. 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. Orange Theorys success is quite similar to Pelotons rise to fame. 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. Before the pandemic, it was growing at a rate of approximately 200 units a year, which is impressive. Owning a fitness franchise is a fantastic way to enter into the multi-billion dollar fitness industry. [43], With the addition of a Planet Fitness outlet in Hawaii in January 2018,[44] Planet Fitness had 1,500 locations with an estimated 10 million members across 50 states, the District of Columbia, the Dominican Republic, Mexico, and Panama[45] and Canada. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. Planet Fitness Franchise Cost & Opportunities 2023 | Franchise Help 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. Prior to that he served as the Chief Operating Officer since 2003. [8][9][7] In 2002, they purchased the rights to the name Planet Fitness from Rick Berks and renamed their 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. The Area Development Fee is uniform and non-refundable. Franchise. Many or all of the products featured here are from our partners who compensate us. Performing this action will delete your account. As a result, she has played an instrumental role in the major strategic decisions made by the Company. This covers the cost of being able to use their name and logo. Orange Theory uses your heart rate to show your exertion potential compared to the maximal effort and compares you to your peers in classes. 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. [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. However, this ultra-famous franchise is the most expensive on this list, with an estimated upfront investment potentially reaching over $5 million. [47], In March 2013, Planet Fitness partnered with 50 Cent to sell his energy drink "Street King". [34] The royalty fee for a Planet Fitness is 7% of the total gross monthly and annual membership fees. Franchise Owners Contact Lists - FranchiseComplaints.org The policy states that "members and guests may use all gym facilities based on their sincere self-reported gender identity. Follow along as PF Trainer Teddy teaches you the basics of fitness, right in the comfort of your own home. 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. 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. By contacting current franchise owners and asking about their experience with the franchised business, the earnings and/or success thus far, training and support from the franchisor, Pla-FitFranchise, and whether or not they would buy the franchise again if they could do it all over again, you can learn what its really like to own a Planet Fitness business before you actually purchase a franchise. 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. From there, youll receive additional materials to help inform your decision, including the all-important franchise agreement, including the franchise disclosure document (FDD). New franchise owners can also expect to participate in a comprehensive training program, as the franchise requires their franchisees to be certified barre instructors. We got you! Planet Fitness Franchise Cost and Requirements for 2023 - IFPG Our research and analytics team analyzed over 120 franchise concept investment breakdowns in order to calculate this figure. There are very few reasons why one might want to open a Planet Fitness franchise. Please scroll down for a partial list of franchise businesses. Cash Required $1,500,000. As can be seen, Planet Fitness stock has outpaced the S&P 500 by almost 2x. 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 . 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, she oversees general HR operations, talent acquisition, leadership development, business partner support, culture and employee engagement, benefits and compensation. has opened over 4,000 locations on all seven continents. [35], The net worth requirement for a Planet Fitness franchise is $3,000,000, while the liquid cash requirement is $1,500,000. Franchising Since: 2000. [17] They also dramatically reduced prices to compete against better-known brands. process lies in obtaining a current list of Planet Fitness franchise owners. Therefore, this may include substantial remodeling of your premises as frequently as every 5 years. 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. The estimated total investment necessary to begin the operation of a Planet Fitness Franchise ranges from $1,625,600 $4,921,000. 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.
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