If a fitness business with a franchise sounds good, heres nine of the most promising options for a gym franchise. The estimated total investment necessary to begin the operation of an Orange Theory Franchise ranges from $657,542 to $2,105,322. Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. [48], Since December 2014, Planet Fitness has been the official fitness sponsor of Dick Clark's New Year's Rockin' Eve on ABC. 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. Ongoing Royalty Fee: $449 - $549/mo. That said, Orangetheory is designed for people of all fitness levels, since participants can go entirely at their own pace. 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. PLANET FITNESS - 57 Photos & 19 Reviews - Yelp Planet Fitness competes in the Fitness market against big brand companies such as Orange Theory and Golds Gym. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. Prior to that he served as the Chief Operating Officer since 2003. Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. [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. We started our business in 1992 and refined our brand for a decade or so before franchising in 2003. However, this ultra-famous franchise is the most expensive on this list, with an estimated upfront investment potentially reaching over $5 million. Bode was also responsible for U.S brand compliance and business development along with leadership positions overseeing training, store development, marketing, and franchising. Paid by you to advertisers or Planet Fitness if it elects to collect from you. Over the last three years, the company has been expanding. [36], The company reports that as of 2019, there are 80 corporate-owned gyms, the rest independently owned and operated. 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. Initial franchise fee: $54,950 to $59,950, Estimated total initial investment: $563,529 to $999,121. An individual planet fitness franchise owner can make around $513,00 to $5,554,000 annually. Largest Planet Fitness Franchisee Acquires 19 Planet Fitness Clubs in The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. According to Franchise Direct, the initial franchise fee is $20,000, while the area development fee is $10,000. Planet Fitness, Inc. to Acquire 114 Locations From One of Its Top Orange Theorys success is quite similar to Pelotons rise to fame. has over 8,900 franchises across the country. The franchise also requires that candidates have at least $100,000 in combined liquid assets and a total net worth of at least $250,000. 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. locations around the U.S. as well as Canada and the Dominican Republic. There are both advantages and disadvantages of franchising, so make sure you weigh both sides thoroughly. Estimated total initial investment: $58,870 to $521,437. Bill Bode serves as Division President, U.S. . - In the United States, the total investment to start the Planet Fitness gym is around $969,600 to $4,242,500. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. This is significantly lower than the midpoint investment of $3,273,500. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. 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 The biggest expenses in the additional costs section are leasehold improvements and construction costs which vary greatly from $1,250,000 to $2,163,000. Planet Fitness Franchise Costs, Fees, Revenues, Profits (2022 Review) [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. Planet Fitness franchisees also compete against other smaller gym and fitness business locations. JLM Financial Partners, Austin, Texas, and Eagle Merchant Partners, Atlanta . In this role, he leads all aspects of our U.S. At Jiffy Lube, he oversaw the strategic direction of the company, and managed franchise relationships to create a shared vision for the brand, drive network growth, and maintain Jiffy Lubes leading market share. Pure Barre has over 500 open locations across North America with tons of available studio markets in the U.S. 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. [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. We provide estimated franchise costs for some countries: Owner WIRED Telcom 159 W 1st Street Oswego, NY 13126 Phone: (315) 326-3350 . 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. [46], Planet Fitness reported that it has around 2,400 gyms worldwide with a total membership of 17 million, generating an annual revenue of $936.8 million at the end of 2022. Their website reads, We are not currently accepting new franchisee applications for US expansion.. Robert Beaupre leads the SMB team at NerdWallet. Share. In 2020, he joined the International Franchise Association (IFA) Board of Directors; board members are drawn from a world-class set of franchise brands. The Area Development Fee is uniform and non-refundable. Liquid Cash Requirement: $1,500,000. 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). Prior to joining Planet Fitness, Mr. 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? Ms. Gosselin was named a Top Woman in PR by PR News in 2020. Brian ODonnell joined Planet Fitness in February 2016 and currently serves as VP, Chief Accounting Officer. Franchise. ASK QUESTIONS ABOUT THE FRANCHISE, Distributorship Opportunities For Business, the terms of So how do we make money? Orangetheory Fitness provides a totally unique (and seriously hard) group workout experience. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. Then, the last four workouts in the program will take place in the gym and you'll learn how . 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. The following costs are part of the upfront costs included in the initial investment for Planet Fitness locations. Benson is back on the board of Planet Fitness 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 Franchise | Cost, Fees & Earning Stats (2023) Prior to joining Planet Fitness, Ms. Simmons worked in Finance and Business Planning roles for Timberland, PepsiCo, and Fisher Scientific International. [24] Michael Grondahl, co-founder of Planet Fitness stepped down as CEO, and was succeeded by Chris Rondeau. In other words, franchising takes most of the heavy lifting off your shoulders. 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. PF Independent Franchisee Council 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. Franchising began one year later, and today Orange Theory studios can be found in 18 countries, and across 49 states. Estimated annual transaction costs per location range from $9,000- $72,000, Equal to 50% of our then-current initial franchise fee. West Hampton, NH 03842, USA, Interested? He joined Planet Fitness in 2016 as the Senior Vice President of Franchise Operations. 2- Based on a midpoint investment of $3,273,300 with estimated profits of $154,587 at a 10% profit margin, it would take about 21 years to recoup your investment. [47], In March 2013, Planet Fitness partnered with 50 Cent to sell his energy drink "Street King". Have questions? [49] [50], Since 2015, Planet Fitness has been a personal sponsor of NASCAR driver and champion Joey Logano. Headquarters: Hampton, New Hampshire. 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. Bringing Franchise Owners Together to Share and Grow. 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. FranchiseComplaints.org 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. Both franchising units and company-operated stores have increased. Please confirm by clicking on the Cancel Subscriptionbutton below. Planet Fitness Announces 2019 Franchise Awards Browse 1000s of reports on 1000s of franchise systems. Estimated total initial investment: $304,500 to $2.1 million. The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. After a few years of growth, Planet Fitness started franchising in 2003 with the first franchised gym opened in Florida. 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. 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. Absentee Ownership Allowed, Planet Fitness Franchise Info: https://www.planetfitness.com. 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. 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 addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. 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. Thanks to that near-legendary status in the fitness world, and their loyal customers, Jazzercise has over 8,900 franchises across the country. 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 Initial Franchise Fee: $20,000 [35], The net worth requirement for a Planet Fitness franchise is $3,000,000, while the liquid cash requirement is $1,500,000. Corporate Governance - Management Team - Planet Fitness Planet Fitness ( PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. Find Accurate Contact Data for 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. We got you! Edward Hymes joined Planet Fitness in January 2023 as President and Chief Operating Officer. McCall Gosselin joined Planet Fitness in January 2013 and currently serves as SVP of Communications and Corporate Social Responsibility. This metric is the standard industry investment amount for a single unit franchise investment in this industry. Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. Justin Vartanian serves as General Counsel and SVP, International Division overseeing all legal matters and international development. Building in competition to workouts enhances ones motivation and keeps consumers coming back. Across 50 states the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia [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. Estimated total initial investment: $2,405 to $3,200. Our partners compensate us. This article originally appeared on JustBusiness, a subsidiary of NerdWallet. [8][9][7] In 2002, they purchased the rights to the name Planet Fitness from Rick Berks and renamed their franchise. ? Planet Fitness Franchise Owners Contact List Join PFIFC In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. All told, their gyms boast over 14 million members worldwide. Franchise Description: Planet Fitness Franchising LLC is the franchisor.The ultimate parent company is Planet Fitness, Inc. Year Business Began: 1992. "[23], In the fall of 2013, TSG Consumer Partners LLC became an equity partner in the Planet Fitness franchise. 4. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. Franchising | Planet Fitness 1- Based on a midpoint investment of $3,273,300 with estimated profits of $77,293 at a 5% profit margin it would take about 42 years to recoup your investment. Ad Royalty Fee: $300/mo. 1. "[22], As early as March 2015, the "Judgement Free Zone" policy was expanded to allow trans women to use the women's locker room. ", "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. Prior to Potbelly, he served in varying executive roles at Charming Charlie Inc. including President and Chief Financial Officer, and Chief Administrative Officer. Fitness franchises are currently booming with the largest franchises globally being Anytime Fitness and Planet Fitness. After establishing a strong reputation across the fitness industry, Latham decided to seek a larger challenge and transitioned from the study of physiology to owning a gym that implemented a business model that remains in place across all studios to this day: offering trainer-led group workout sessions, which are broken into intervals of cardiovascular and strength training. 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 We believe everyone should be able to make financial decisions with confidence. This is a good indication of high growth as a company overall. We also suggest that you speak to 3 5 Planet Fitness owners before opening one yourself. It is reported to be the nations fastest growing fitness center franchise. Mr. Barber has over 20 years of experience in leadership experience across a variety of industries, most recently serving as the Senior Vice President of Information Technology at United Natural Foods Inc. 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. Owning a. means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. [41][42] In October 2015 the company opened their second international location in Santo Domingo, Dominican Republic. [22] In 2010, Men's Health magazine called Planet Fitness "the worst gym in America. [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. These numbers indicate that potential earnings can vary significantly, and it depends on factors such as locations and how well the business is run. The Grondahls changed the gyms name to Planet Fitness in 1994. They provide an affordable, high-quality fitness experience in a welcoming environment. In this role, he is responsible for all aspects of financial strategy and management. Lets get started. has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. In addition, he served as an online media manager for the University of Nevada, Reno. 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 Management Information Systems from Northwood University. Classroom Training: 80 hours | United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. Please scroll down for a partial list of franchise businesses. Jamie Medeiros joined Planet Fitness in 2000, where she worked at the front desk in the Companys third location before transitioning to the Planet Fitness corporate marketing team.