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. This, too, is best evaluated with the help of an accountant or business lawyer, who can help you break down the fine print. There are some units of Planet fitness franchisees making more than that or some making less than that. Bringing Franchise Owners Together to Share and Grow. Planet Fitness growth continued over the next decade and in 2013, TSG Consumer Partners, LLC became an equity partner in the Planet Fitness franchise. process lies in obtaining a current list of Planet Fitness franchise owners. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. These figures are estimates based on Planet Fitness and its affiliates experience in operating locations. All told, their gyms boast over 14 million members worldwide. Even though its smaller than Pure Barre. 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. ? Verizon Wireless, and Westin, just to name a very few. Additionally, he held several leadership positions at Liz Claiborne, was Chief Financial Officer at Burlington Coat Factory, and served as Chief Operating Officer of Bath & Body Works. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. 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. In this role, he is responsible for all aspects of financial strategy and management. Crunchs fees are on the lower end of the scale: Royalty fees are 5% of monthly gross sales, and advertising fees are 2% of monthly gross sales. 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. 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. Planet Fitness franchise opportunities are proven by 1,500 clubs successfully operating worldwide. 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. However, the profit varies on your location also. Kick off your search with this list of nine of the most promising gym franchises to buy. Browse 1000s of reports on 1000s of franchise systems. 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 "[22], As early as March 2015, the "Judgement Free Zone" policy was expanded to allow trans women to use the women's locker room. With that accessible attitude in mind, Planet Fitness tries particularly to target the 80% of the American and Canadian population who dont have gym memberships. Thanks to that near-legendary status in the fitness world, and their loyal customers. With this purchase, which was for an undisclosed amount, United PF's club count has . 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. 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 . Kathy Gentilozzi joined Planet Fitness in 2019 as the Companys Chief People Officer. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. 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. Since their start in 2002, Anytime Fitness has opened over 4,000 locations on all seven continents. - In currency of Germany, the investment comes around EUR 805,430 to EUR 3,524,180. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. Ongoing Royalty Fee: $449 - $549/mo. 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. 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 $10 per month level includes access to cardio and strength equipment, unlimited group fitness instruction and pizza and bagels once a month; the $24.99 per month ("Black Card") level allows members to bring one guest per day at no charge, access to all Planet Fitness locations, and access to extra amenities, such as tanning booths, massage chairs, red light therapy and water massage beds. "[30] They stated that they were unable to stop the pre-scheduled payments on short notice, but would not charge future monthly dues until they reopen, and would also provide a credit for closed days previously paid for. Due Date: Expended according to Planet Fitness Methods of Operations as per your advertising budget. Fitness centers have experienced sustained growth since the post-economic crisis in 2009. - In the United States, the total investment to start the Planet Fitness gym is around $969,600 to $4,242,500. This could be an indicator that franchisees are doing really well. . At Yum! Lets get started. You may need additional operating capital, or you may need it for a longer period of time. The Judgement Free Zone was started to help first-time gym users feel more comfortable starting their fitness journey. You'll build confidence while increasing your fitness knowledge. 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. Ms. Gentilozzi has more than 30 years of Human Resources leadership experience at national retail brands, most recently serving as Executive Vice President of Human Resources at FULLBEAUTY Brands where she led all HR initiatives to support 2,000 associates. By becoming a franchise owner, you can benefit from a proven business model, existing customer base, and franchisee support system. Additional Training: Ongoing training [54][55] Also in 2016, the company donated more than $1 million to the program. 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. Prior to that, Ms. Gentilozzi served as Senior Vice President of Human Resources at Aropostale, supporting over 25,000 employees in 1,000 retail locations throughout the U.S., Canada, and Puerto Rico. 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. Before the pandemic, it was growing at a rate of approximately 200 units a year, which is impressive. Currently, the. Absentee Ownership Allowed, Planet Fitness Franchise Info: https://www.planetfitness.com. Pre-qualified offers are not binding. 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. Orange Theorys success is quite similar to Pelotons rise to fame. Prior to Potbelly, he served in varying executive roles at Charming Charlie Inc. including President and Chief Financial Officer, and Chief Administrative Officer. The owner of the franchise (the franchisee) is expected to be involved in all aspects of day-to-day operations. Upon your submission of your Construction Development Plans for our approval, Point of Sale Support, Processing and Account Management Services Fees, $149-$199 plus processing and credit card fees based on the number of transactions processed per month or number of eligible accounts enrolled in collections. Planet Fitness franchisees also compete against other smaller gym and fitness business locations. Youre about to cancel your subscription. Our partners compensate us. Prior to joining Planet Fitness, Mr. 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. The name came from his daughter's school project, "Fitness Planet". 4 Liberty Ln. [32][33], Planet Fitness started franchising units in 2003. Their website reads, We are not currently accepting new franchisee applications for US expansion.. [17], As part of their effort to create a non-intimidating environment, Planet Fitness has alienated many serious weight lifters. We started our business in 1992 and refined our brand for a decade or so before franchising in 2003. We provide estimated franchise costs for some countries: In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. An individual planet fitness franchise owner can make around $513,00 to $5,554,000 annually. Headquarters: Hampton, New Hampshire. ASK QUESTIONS ABOUT THE FRANCHISE, Distributorship Opportunities For Business, the terms of has over 8,900 franchises across the country. The Grondahls changed the gyms name to Planet Fitness in 1994. In this role, she is responsible for driving our digital vision and strategy, including leading the continuous enhancement of our mobile app, with a focus on consumer engagement, loyalty and a differentiated omni-channel experience to accelerate Planet Fitness growth and success. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. 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. Robert Beaupre leads the SMB team at NerdWallet. has opened over 4,000 locations on all seven continents. Both of these fitness companies, while they differ in business models, use your own fitness data and others to create a competitive atmosphere. Franchise candidates can expect to pay anywhere between $354k to $1.2m. - In Philippine currency, the investment comes around Php 47,15 million to Php 206,34 million. Estimated total initial investment: $198,650 to $446,250. 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. 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. 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. This information may be different than what you see when you visit a financial institution, service provider or specific products site. [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. Airfare, ground transportation, meals, lodging, Government agencies and bonding companies, Payroll, debt services, ongoing pre-sale/grand opening marketing, and cash to cover miscellaneous day-to-day expenses, Estimated Selling Price = Net Sales * 0.67, Estimated Selling Price = Net Sales * 1.21. Initial term lengths last 10 years. This covers the cost of being able to use their name and logo. Previously, Mr. Fitzgerald served as Chief Administrative Officer of Sears Canada. 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. Join PFIFC [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. Earlier in her career, Ms. Kaplan held several digital and marketing leadership roles at global brands including American Express and Citi, Inc. She serves as an independent member of the Fiesta Restaurant Group Board of Directors, as well as the Massachusetts Innovation & Technology Exchange (MITX). service, Computer System. Net Worth Requirement: $3,000,000 Plus, that smaller pool of franchisees means each one receives more personalized support from the company. 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. [7] They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. Sorry. 6.4 miles away from Planet Fitness. This document includes information about the franchises financial standing, capital requirements, franchisee training, and ongoing franchise fees, among other crucial information. Franchise fee: one-time $10,000 for a 10-year renewable agreement. 2% of the total gross monthly EFT Dues Draft. In this role, he oversees the Companys accounting and treasury functions. She has also held editing roles at LearnVest, a personal finance startup, and its parent company, Northwestern Mutual. 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. 1. Golds Gym also requires that potential franchisees have a minimum of $1 million in net worth and $400,000 in liquid assets. 1 comment. And while our site doesnt feature every company or financial product available on the market, were proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward and free. Franchising began one year later, and today Orange Theory studios can be found in 18 countries, and across 49 states. If a fitness business with a franchise sounds good, heres nine of the most promising options for a gym franchise. 4. Planet Fitness franchise was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. The franchise has since modernized their routines and worked Pilates, yoga, hip hop, kickboxing, and strength training into their classes, which they claim can burn up to 800 calories in one hour. "[21] Planet Fitness has been criticized for prohibiting certain weightlifting exercisessuch as deadlifts and clean-and-jerksthat many experts believe are highly effective. 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. [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. is growing quickly: In 2018, The Bar Method saw a 118% growth rate. Call (888) 977-4374. - In Malaysian currency, the investment comes around MYR 3,93 million to MYR 17,21 million. 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. The difficult part of this step of the franchise buying due diligence process lies in obtaining a current list of Planet Fitness franchise owners. [10][7], Berks had started his own Planet Fitness gym in 1993 in Sunrise, Florida, and eventually expanded it to three clubs, along with a Gold's Gym franchise. From there, youll receive additional materials to help inform your decision, including the all-important franchise agreement, including the franchise disclosure document (FDD). The U.S. has the biggest Fitness market in the world, both in terms of revenue and in the number of members enrolled in a fitness facility. Estimated total initial investment: $304,500 to $2.1 million. Prospective owners are asked to have a minimum net worth of $3 million and a minimum of $1,500,000 in liquid capital. 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. After a few years of growth, Planet Fitness started franchising in 2003 with the first franchised gym opened in Florida. The graph below and the table that accompanies it depicts the total return to shareholders between 2015 and 2021 on Planet Fitness class A common stock relative to the performance of the S&P 500 Index and the Russell 2000. was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. Then, the last four workouts in the program will take place in the gym and you'll learn how . $10,000, plus our reasonable out-of-pocket expenses, including external legal and administrative costs we incur in connection with the transfer. 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. When evaluating offers, please review the financial institutions Terms and Conditions. 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. ", "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. [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. [61], In January 2020, Planet Fitness partnered with The Biggest Loser to be the official sponsor of the show's 2020 reboot.[62]. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105. Owner WIRED Telcom 159 W 1st Street Oswego, NY 13126 Phone: (315) 326-3350 . Our research and analytics team analyzed over 120 franchise concept investment breakdowns in order to calculate this figure. We reviewed the larger franchise industry as well as selling price multiples for larger systems where more transaction data is available. We got you! 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. in Management Information Systems from Northwood University. 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. - In Indian currency, the investment comes around Rs 7,14 crores to Rs 31,23 crores. [6], In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. Former Gov. Prior to Planet Fitness, Ms. Gosselin worked at Dunkin Brands on the global public relations team. Comment. Planet Fitness estimates the costs to upgrade and/or remodel your facility will range from $70,000 to $600,000 every 5 years. SVP Communications and Corporate Social Responsibility, General Counsel and SVP, International Division. Pure to Joseph Pilates' original Reformer-based Contrology Method, but modernized with group read more. Throughout her tenure with Planet Fitness, Ms. Simmons built the Business Strategy and Analytics functions from the ground up, leveraging data, analytics and insights to develop and drive Planet Fitness overarching corporate strategy, propel the business forward, and reinforce the brands industry leadership position. He held multiple store operations positions with P&L responsibility progressing from Store Manager to Regional Manager. Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). Chris Rondeau has served as the Chief Executive Officer of Planet Fitness since January 2013. The gym utilizes a "lunk alarm", which is a loud siren and rotating light that is used when a gymgoer grunts too loudly or drops weights. Under Rondeau's leadership, Planet Fitness has experienced tremendous growth and has been recognized for many accolades including, Entrepreneur Franchise 500 - Fastest Growing Franchise List, Franchise Times' Top 200, Forbes' America's Best Franchises, Newsweek Best Customer Service, and Best Places to Work in New Hampshire. Co-founder, Elle Latham, decided to open a gym to implement her personally designed workout, which eventually became the basis for Orange Theorys system. - In Canadian currency, the investment comes around Can$ 1,231,300 to Can$ 5,387,800. Sherrill Kaplan joined Planet Fitness in June 2021 as Chief Digital Officer. Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. Both franchising units and company-operated stores have increased. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. Our franchise contact lists contain contact details for both owners of single franchise units and multi-unit franchise owners, that is, franchisees that own many franchised locations. But buying into a gym franchise is a less risky venture than building a gym from the ground up. In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. Please scroll down for a partial list of franchise businesses. Theyll provide you with a personal support team, comprehensive training, and marketing support over the course of your franchise agreements six-year term (or 10, if youre in California). Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. All reactions: 8. industry. Ms. Kaplan holds a B.S. The chain has over a thousand locations with over 400 units outside the US. Here is a list of our partners. An innovative entrepreneur, Mr. Rondeau was honored as an EY Entrepreneur of the Year and inducted into the UNH Alumni Entrepreneur Hall of Fame. Assistant Assigning Editor | Small-business finance, personal finance. [22] In 2010, Men's Health magazine called Planet Fitness "the worst gym in America. Estimated total initial investment: $58,870 to $521,437. Previously, she was an editor at Fundera, where she developed service-driven content on topics such as business lending, software and insurance. Review the chart below to see how much it costs to buy a Planet Fitness franchise in 2022. Initial Franchise Fee: $20,000 It is important to talk to other franchisees and see what their costs were for leasehold improvements and construction. 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. Bill Bode serves as Division President, U.S. Rated Excellent on TrustPilot with feedback from 50+ customers. Prior to Dunkin, she worked at various communications agencies in both Boston and Washington, DC on behalf of various leading retail brands. As a franchise owner, youll benefit from a proven business model, brand recognition, existing customer base, vendor network, and robust franchisee support system. Your actual costs may be higher or lower depending on the size and location of your Planet Fitness business. These numbers indicate that potential earnings can vary significantly, and it depends on factors such as locations and how well the business is run. Bode was also responsible for U.S brand compliance and business development along with leadership positions overseeing training, store development, marketing, and franchising. Ad Royalty Fee: $300/mo. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. 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. According to Franchise Direct, the initial franchise fee is $20,000, while the area development fee is $10,000. They opened a new gym called Coastal Fitness and the Grondahls hired current CEO. Franchise Division including leading the operations, development and construction, vendor management and local marketing execution teams.