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The number of fitness franchise locations has been steadily increasing to a total of about 2,039. . The most popular workout model from Snap Fitness is known as MYFIT. Currently, the Planet Fitness franchise has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. Today the brand has over 2,000 locations system-wide. It is reported to be the nations fastest growing fitness center franchise. Owning a UFC Gym means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. Owning a. means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. Your experience may vary depending on whether you finance tenant improvements, your location, and other factors. [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. While at Dunkin Brands, he helped lead the technology team that rolled out mobile ordering across 9,000 locations. [6], In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. 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. Prior to Jiffy Lube, he served on Shells global Downstream Acquisitions & Divestments Leadership Team with responsibility for transaction delivery across North and South America. If you can name a franchise business, it's probably on our Franchise owners marketing list. 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. 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. Estimated total initial investment: $58,870 to $521,437. The difficult part of this step of the franchise buying due diligence process lies in obtaining a current list of Planet Fitness franchise owners. Participants are given heart-rate monitors, and their results are displayed on screens throughout the room over the course of this hour-long, interval-based, coach-led workout. The franchise requires that candidates have access to over $90,000 in liquid capital, and a minimum net worth of $300,000. Therefore, this may include substantial remodeling of your premises as frequently as every 5 years. Rated Excellent on TrustPilot with feedback from 50+ customers. Classroom Training: 80 hours [41][42] In October 2015 the company opened their second international location in Santo Domingo, Dominican Republic. Ultimately, the only way to know which gym franchise is right for you is to do your own due diligence. Prior to that, she served as the Vice President of Digital Marketing & Innovation at Dunkin Brands where she was responsible for developing and marketing Dunkins digital platforms, including the DD Mobile app and the DD Perks loyalty program. service, Computer System. HAMPTON, N.H., Jan. 11, 2022 - Planet Fitness, Inc. (NYSE: PLNT ), one of the largest and fastest-growing franchisors and operators of fitness centers with more members than any other fitness brand, announced today it has signed a definitive agreement to acquire Sunshine Fitness Growth Holdings, LLC ("Sunshine Fitness"), a leading owner and Disclaimer: NerdWallet strives to keep its information accurate and up to date. [51] In April 2022, Planet Fitness appeared as a sponsor on a race truck for the first time in the 2022 Pinty's Truck Race on Dirt with Logano driving the truck. This model has become extremely sticky in the fitness industry because while many people want to achieve their fitness goals, they innately lack motivation. Planet Fitness trademarked the phrase judgment free zone, so that alone should give you a sense of this gyms major value: inclusivity for all people, regardless of their fitness levels. List to Contact Planet Fitness Franchise Owners - Planet Fitness Owners Contact List. The name came from his daughter's school project, "Fitness Planet". Over the last three years, the company has been expanding. This, too, is best evaluated with the help of an accountant or business lawyer, who can help you break down the fine print. 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. There are very few reasons why one might want to open a Planet Fitness franchise. 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. [13] The new model was an effort to provide a fitness hub for everyday people. Our research and analytics team analyzed over 120 franchise concept investment breakdowns in order to calculate this figure. Bill Bode serves as Division President, U.S. This influences which products we write about and where and how the product appears on a page. 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. Use this opportunity to ask qualitative questions that you wouldnt necessarily have answered through the FDD, or from the franchisors marketing materialslike how happy they are with the initial training and ongoing support they receive, and their opinions about the overall outlook of the business. [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. * 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. - In Malaysian currency, the investment comes around MYR 3,93 million to MYR 17,21 million. 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. locations around the U.S. as well as Canada and the Dominican Republic. At the moment we can not connect you to the representative of this franchise. Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. Due Date: Expended according to Planet Fitness Methods of Operations as per your advertising budget. Prospective owners are asked to have a minimum net worth of $3 million and a minimum of $1,500,000 in liquid capital. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. 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. Then, the last four workouts in the program will take place in the gym and you'll learn how . Franchise Sales Manager Planet Fitness 4 Liberty Lane West Hampton, NH 03842 Phone: (603) 750-0001 Mr. Rondeau also received an honorary doctorate degree from Philadelphia University and received the Universitys honorary innovation medal. When evaluating offers, please review the financial institutions Terms and Conditions. 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 . 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. industry. On this Wikipedia the language links are at the top of the page across from the article title. SVP Communications and Corporate Social Responsibility, General Counsel and SVP, International Division. Previously, he was the Chief Technology Officer at Airline Report Corporation, where he modernized the technology needed to process billions of dollars in payments annually. That said, as of June 2022, Planet Fitness has paused offering franchises. In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. The Area Development Fee is uniform and non-refundable. According to Franchise Direct, the initial franchise fee is $20,000, while the area development fee is $10,000. 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 [52], In March 2016, Planet Fitness partnered with STOMP Out Bullying,[53] a national organization dedicated to bullying prevention, and the Boys & Girls Clubs of America to launch the company's national philanthropic initiative to address bullying, The Judgement Free Generation. JLM Financial Partners, Austin, Texas, and Eagle Merchant Partners, Atlanta . Of the total gross monthly and annual membership fees payable to you via EFT Dues Draft. [27], In February 2016, the franchise was added to the Franchise Times' "Fast and Serious" list of top franchises (No. You must pay a supplemental fee of $5,000, per location remaining to be developed, plus our reasonable out-of-pocket expenses, including external legal and administrative costs we incur in connection with the transfer. In 2020, he joined the International Franchise Association (IFA) Board of Directors; board members are drawn from a world-class set of franchise brands. Even though its smaller than Pure Barre, The Bar Method franchise is growing quickly: In 2018, The Bar Method saw a 118% growth rate. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. Franchise. Burn Boot Camp Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. Cash Required $1,500,000. Both franchising units and company-operated stores have increased. 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. - In currency of Germany, the investment comes around EUR 805,430 to EUR 3,524,180. ", "Planet Fitness revokes woman's membership after transgender complaint", "Planet Fitness Has New Investor; Promotes Rondeau To CEO", "Former Radio Shack CFO Fills Planet Fitness Hole", "Planet Fitness goes public, hits mark in first day of trading", "Ranking America's Best And Worst Franchises: Which Are The Best Investments? 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. 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 concept currently has over 1,000 franchises in the United States and another 150 international locations and is a subsidiary of Ultimate Fitness Holdings. 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. Browse 1000s of reports on 1000s of franchise systems. The Planet Fitness franchise was founded in 1992 and has been franchising since 2003. [4], In October 2011, Planet Fitness reached an agreement with NBC to sponsor the network's reality show The Biggest Loser beginning with the 2012 season. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. Headquarters: Hampton, New Hampshire. 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. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. ", "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. Before joining NerdWallet, he served as senior editorial manager of QuinStreet's insurance sites and managing editor of Insure.com. At that time, Michael Grondahl stepped down as CEO and Chris Rondeau took his place and has held the position since. [54][55] Also in 2016, the company donated more than $1 million to the program. We also suggest that you speak to 3 5 Planet Fitness owners before opening one yourself. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer Access|Licenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812, Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc. (CA resident license no. You are going to upgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. Gathering all available information about each potential franchise will help you land on the gym that not only works for you financially, but that also resonates with your lifestyle and values. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. Throughout his tenure at Dunkin Brands, Mr. Over the last three years, franchises have opened at a rate of 148 units a year. Orangetheory Fitness provides a totally unique (and seriously hard) group workout experience. 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. If you are thinking about how to open a Planet Fitness franchise, begin with a franchise investment information. In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. McCall Gosselin joined Planet Fitness in January 2013 and currently serves as SVP of Communications and Corporate Social Responsibility. ? Franchise Description: Planet Fitness Franchising LLC is the franchisor.The ultimate parent company is Planet Fitness, Inc. [60], In October 2017, Planet Fitness and its members raised $1 million which it donated to the non-profit Boys and Girls Clubs of America. Even though the history of barre dates back to 1959, when the discipline was created by former ballerina Lotte Berk, the ballet/Pilates/yoga hybrid saw a huge boom in the 2010s. Previously, she was an editor at Fundera, where she developed service-driven content on topics such as business lending, software and insurance. According to their website, Pure Barre is the oldest and most established barre studio out there. . The initial Planet Fitness Franchise Fee is $20,000. 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. Since their start in 2002, Anytime Fitness has opened over 4,000 locations on all seven continents. [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. Mr. ODonnell has nearly 20 years of experience in a variety of finance and accounting roles. 8. But buying into a gym franchise is a less risky venture than building a gym from the ground up. The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. Mind that the franchise requirements for sale could be different depending on the format and scope of business. Franchise Division including leading the operations, development and construction, vendor management and local marketing execution teams. Call (888) 977-4374. "[23], In the fall of 2013, TSG Consumer Partners LLC became an equity partner in the Planet Fitness franchise. Fitness franchises are currently booming with the largest franchises globally being Anytime Fitness and Planet Fitness. If you are an individual with a passion for fitness and are willing to invest an amount ranging from $657,542 $2,105,322 or more, Orange Theory might be the right fit for you. - In Canadian currency, the investment comes around Can$ 1,231,300 to Can$ 5,387,800. 1. Prior to Potbelly, he served in varying executive roles at Charming Charlie Inc. including President and Chief Financial Officer, and Chief Administrative Officer. process lies in obtaining a current list of Planet Fitness franchise owners. Ongoing Royalty Fee: $449 - $549/mo. Estimated total initial investment: $1 million to $4.1 million. 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. Share. With that said, a Planet Fitness franchise . Even though the history of barre dates back to 1959, when the discipline was created by former ballerina Lotte Berk, the ballet/Pilates/yoga hybrid saw a huge boom in the 2010s. in Pilates. However, the profit varies on your location also. 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. Prior to Dunkin, she worked at various communications agencies in both Boston and Washington, DC on behalf of various leading retail brands. [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. Currently, Golds Gym franchise has available markets in almost every state across the country, and select international opportunities. She is based in Santa Monica, California. This could be an indicator that franchisees are doing really well. [29], In 2020, the company received criticism for charging its customers for March dues "despite closing its facilities nationwide due to the novel coronavirus pandemic. The fitness center industry has grown with the rise in disposable income and demand for a more health-conscious lifestyle among millennials. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. That said, all of the gym franchises on this list (and those that arent on this list) allow curious investors to request more information for free. - In Mexican currency, the investment comes around Peso 20,19 million to Peso 88,33 million. . Follow along as PF Trainer Teddy teaches you the basics of fitness, right in the comfort of your own home. 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. 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. This large discrepancy indicates the potential different costs you could face when building your Orange Theory franchise as a franchisee. Chris Rondeau has served as the Chief Executive Officer of Planet Fitness since January 2013. Today, there are Planet Fitness franchise locations around the U.S. as well as Canada and the Dominican Republic. The estimated total investment necessary to begin the operation of an Orange Theory Franchise ranges from $657,542 to $2,105,322. 1,600+ locations open and we're just getting started! [32][33], Planet Fitness started franchising units in 2003. All initial fees are the same for both initial and conversion franchises. All financial products, shopping products and services are presented without warranty. From there, youll receive additional materials to help inform your decision, including the all-important franchise agreement, including the franchise disclosure document (FDD).