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 Even more reason to consider investing in a gym franchise? He also currently serves on the Board of Directors of the NH/VT/ME Region of the American Red Cross and the Business & Industry Association of New Hampshire. 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. - In Philippine currency, the investment comes around Php 47,15 million to Php 206,34 million. Our research and analytics team analyzed over 120 franchise concept investment breakdowns in order to calculate this figure. We believe everyone should be able to make financial decisions with confidence. He held multiple store operations positions with P&L responsibility progressing from Store Manager to Regional Manager. Cash Required $1,500,000. industry. Pre-qualified offers are not binding. Currently, the. In this role, he oversees the Companys accounting and treasury functions. From the start, Planet Fitnesswas an inclusive, non-intimidating gym and in 1997, Planet Fitness officially unveiled its Judgement Free Zone philosophy. 8. 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. We got you! NerdWallet strives to keep its information accurate and up to date. From there, youll receive additional materials to help inform your decision, including the all-important franchise agreement, including the franchise disclosure document (FDD). [17] They also dramatically reduced prices to compete against better-known brands. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. 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. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. 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. Annually Updated with New Owners of Planet Fitness Locations in the USA. Now, youd be hard-pressed to find a gym franchise that doesnt offer some form of barre class, but owning a Pure Barre franchise takes you straight to the source. The Grondahls changed the gyms name to Planet Fitness in 1994. We started our business in 1992 and refined our brand for a decade or so before franchising in 2003. 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 Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. [28] It ranked in the top 50 of Entrepreneur magazine's Franchise 500 in 2017. Absentee Ownership Allowed, Planet Fitness Franchise Info: https://www.planetfitness.com. 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. Initial franchise terms are 10 years. Prior to joining the Company, Mr. ODonnell most recently served as Vice President of Finance and Chief Accounting Officer at Sonus Networks. We reviewed the larger franchise industry as well as selling price multiples for larger systems where more transaction data is available. Order now to get instant access to the complete Planet Fitness franchise owners. However, this does not influence our evaluations. She is based in Santa Monica, California. Compared to $145 million in 2020, they saw an increase of 44% from 2020 to 2021. 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. The Judgement Free Zone was started to help first-time gym users feel more comfortable starting their fitness journey. It is important to talk to other franchisees and see what their costs were for leasehold improvements and construction. Your actual costs may be higher or lower depending on the size and location of your Planet Fitness business. Point of Sale System, and other Supplies, Your Out-of-Pocket Initial Training Expenses, Operating Cash (Additional Funds Pre-Opening and first six months), $7% of the total gross monthly and annual membership fees payable to you via EFT Dues Draft, Internet Membership and Balance Payment Administration Fee, Set according to our Methods of Operations, presently 55 per membership application or balance payment we process for your franchise location, Fees to Evaluate and Approve Alternative Suppliers, Our reasonable costs and expenses, which currently are expected to range between $1,000 and $5,000, although costs could greatly exceed those amounts depending on the product, Will var under the circumstances: estimated insurance premiums for your first year are $10,000 to $20,000. [19] According to a Planet Money episode from 2014, "half of the Planet Fitness members don't ever go to their gyms. Although gym franchises require that the owner has previous management experience, most dont require experience in the. 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. Overall, Planet Fitness is making a decent amount of profit, and we also see that the profit chart . [47], In March 2013, Planet Fitness partnered with 50 Cent to sell his energy drink "Street King". Kathy Gentilozzi joined Planet Fitness in 2019 as the Companys Chief People Officer. 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. ", "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? Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing gym franchises in the United States. 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. The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. 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. . [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. Call (888) 977-4374. At that time, Michael Grondahl stepped down as CEO and Chris Rondeau took his place and has held the position since. Pure to Joseph Pilates' original Reformer-based Contrology Method, but modernized with group read more. 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. ? Our partners compensate us. 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. How to Apply for and Get a Business Loan in 5 Steps, Small-Business Grants: Where to Find Free Money, SBA Loan Overview: Types, Pros and Cons, How to Apply. [7] They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. Here is a list of our partners. Please renew to keep using our services. [32][33], Planet Fitness started franchising units in 2003. Even after the pandemic hit, it continued to grow at a rate of over 100 units. Mr. Rondeau joined Planet Fitness in 1993, working the front desk at the very first location in Dover, NH, one year after the original founders, Michael and Marc Grondahl, started the Company in 1992. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. Orange Theory was ranked 49th in the franchise 500 rankings according to entrepreneur.com. Prior to Jiffy Lube, he served on Shells global Downstream Acquisitions & Divestments Leadership Team with responsibility for transaction delivery across North and South America. - In Malaysian currency, the investment comes around MYR 3,93 million to MYR 17,21 million. Prior to that he served as the Chief Operating Officer since 2003. All told, their gyms boast over 14 million members worldwide. That said, franchisees are responsible for additional costs, including a monthly continuing franchise fee (CFF) of either 20% of gross revenue or at least $250 per month. The second Toronto location opened in early 2015. Now, youd be hard-pressed to find a gym franchise that doesnt offer some form of barre class, but owning a. takes you straight to the source. - In Canadian currency, the investment comes around Can$ 1,231,300 to Can$ 5,387,800. FranchiseComplaints.org Bode held several senior leadership positions at Dunkin' Brands, including serving as Regional Vice President of Dunkin' Donuts Northeast where he was responsible for overseeing the operations of more than 2,600 restaurants. "[23], In the fall of 2013, TSG Consumer Partners LLC became an equity partner in the Planet Fitness franchise. She received her Bachelors degree from Eastern Connecticut State University. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105. Of the total gross monthly and annual membership fees payable to you via EFT Dues Draft. Estimated Number of Units: 2,300. The highest Planet Fitness franchise made over 3 million dollars in revenue, whereas the lowest earning one made $165,000. The policy states that "members and guests may use all gym facilities based on their sincere self-reported gender identity. Please scroll down for a partial list of franchise businesses. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. 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. Due Date: Expended according to Planet Fitness Methods of Operations as per your advertising budget. Orangetheory Fitness provides a totally unique (and seriously hard) group workout experience. Based on a midpoint investment of $1,378,500 with estimated profits of $94,820 (10% profit margin) it would take about 15 years to recoup your investment. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. 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. Subscribe to our newsletters and keep up-to-date with the latest news in the franchise industry. "[21] Planet Fitness has been criticized for prohibiting certain weightlifting exercisessuch as deadlifts and clean-and-jerksthat many experts believe are highly effective. 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. 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. List to Contact Planet Fitness Franchise Owners - Planet Fitness Owners Contact List.
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