Plus, that smaller pool of franchisees means each one receives more personalized support from the company. 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. 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. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. 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. 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. Due Date: Paid monthly and annually. The following costs are part of the upfront costs included in the initial investment for Planet Fitness locations. Paid Grace Period. 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. 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. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. 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. [34] The royalty fee for a Planet Fitness is 7% of the total gross monthly and annual membership fees. in Management Information Systems from Northwood University. Planet Fitness competes in the Fitness market against big brand companies such as Orange Theory and Golds Gym. 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. Then, the last four workouts in the program will take place in the gym and you'll learn how . An individual planet fitness franchise owner can make around $513,00 to $5,554,000 annually. in Pilates. 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. The Area Development Fee is uniform and non-refundable. 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. Additional Training: Ongoing training This is a good indication of high growth as a company overall. You'll also benefit from . Even more reason to consider investing in a gym franchise? 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 Prior to joining Planet Fitness, Ms. Simmons worked in Finance and Business Planning roles for Timberland, PepsiCo, and Fisher Scientific International. 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. 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. - In Indian currency, the investment comes around Rs 7,14 crores to Rs 31,23 crores. Planet Fitness ( PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. Club Pilates North Shore is a boutique Pilates studio specializing in reformer fusion classes for anyone, at any age or fitness level. 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. When evaluating offers, please review the financial institutions Terms and Conditions. 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. 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. 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. Looks like your subscription is due. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. Initial franchise terms are 10 years. Orange Theorys success is quite similar to Pelotons rise to fame. Today the brand has over 2,000 locations system-wide. 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. Prior to joining Planet Fitness, Mr. Vartanian was a corporate attorney at Devine Millimet. She also served as Senior Vice President of Human Resources at Macys Inc., and has held various leadership positions at The May Department Store Company, including corporate and division roles. Even though its smaller than Pure Barre, The Bar Method franchise is growing quickly: In 2018, The Bar Method saw a 118% growth rate. Since their start in 2002, Anytime Fitness has opened over 4,000 locations on all seven continents. ASK QUESTIONS ABOUT THE FRANCHISE, Distributorship Opportunities For Business, the terms of 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. [54][55] Also in 2016, the company donated more than $1 million to the program. 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. Owning a UFC Gym means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. 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. 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. Estimated annual transaction costs per location range from $9,000- $72,000, Equal to 50% of our then-current initial franchise fee. By becoming a franchise owner, you can benefit from a proven business model, existing customer base, and franchisee support system. [47], In March 2013, Planet Fitness partnered with 50 Cent to sell his energy drink "Street King". 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. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. Justin Vartanian serves as General Counsel and SVP, International Division overseeing all legal matters and international development. [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. | United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. [28] It ranked in the top 50 of Entrepreneur magazine's Franchise 500 in 2017. We provide estimated franchise costs for some countries: To open a gym, a franchisee must have of $3 million with $1,500,000 in liquid assets. [7] They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. Rated Excellent on TrustPilot with feedback from 50+ customers. Have questions? Throughout the years, Chris played a critical role in developing and refining the unique, low-cost/high-value business model and lean operating system that revolutionized both the fitness and franchising industry. Your Royalty payment is currently based on the total gross monthly and annual membership fees for the, You must maintain your equipment according to, Your actual costs may be higher or lower depending on the size of your, You must maintain the franchise premises according to, Franchise Disclosure Document (FDD) Database, Your Lender; Approved Suppliers; Our Affiliate, Paid to various media companies and other third parties to promote the opening of your business, Computer System, Point of Sale System, and other Supplies, Utilities, banks/credit card companies, leased equipment vendors, alarm company, telephone company, Your Out-of-Pocket Initial Training Expenses. 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 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. 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. 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. Browse 1000s of reports on 1000s of franchise systems. When evaluating offers, please review the financial institutions Terms and Conditions. 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. [27], In February 2016, the franchise was added to the Franchise Times' "Fast and Serious" list of top franchises (No. 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. 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. [13] The new model was an effort to provide a fitness hub for everyday people. Currently, the Planet Fitness franchise has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. Compared to $145 million in 2020, they saw an increase of 44% from 2020 to 2021. Ms. Medeiros has been instrumental in developing and refining Planet Fitness marketing strategy and differentiated Judgement Free positioning in the fitness industry. This influences which products we write about and where and how the product appears on a page. Planet Fitness franchise is growing, and it is growing fast. Mr. Fitzgerald holds an MBA in Finance from Indiana University Kelley School of Business and received his Bachelors degree in Finance from the University of Florida. LearningRx Franchise Corporation 5085 List Drive, #200 Colorado Springs, CO 80919 Phone: (719) 264-8808 Liz Anderson . In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. All told, their gyms boast over 14 million members worldwide. You are going to downgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. We started our business in 1992 and refined our brand for a decade or so before franchising in 2003. "I decided I didn't want to deal with that crowd, so that's when I opened the original Planet Fitness club in Sunrise, Florida, in 1993." ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. 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. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. 4 Liberty Ln. 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 . Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). service, Computer System. If you can name a franchise business, it's probably on our Franchise owners marketing list. Franchise Division including leading the operations, development and construction, vendor management and local marketing execution teams. 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. We got you! Follow along as PF Trainer Teddy teaches you the basics of fitness, right in the comfort of your own home. has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. 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 most popular workout model from Snap Fitness is known as MYFIT. Fitness franchises are currently booming with the largest franchises globally being Anytime Fitness and Planet Fitness. Office Depot, Planet Fitness, Roto Rooter, Starbucks, Taco Bell, Travelers, and United Health Group. Across 50 states the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia 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. 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. 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). To open a gym, a franchisee must have a net worth of $3 million with a minimum of $1,500,000 in liquid assets. These numbers indicate that potential earnings can vary significantly, and it depends on factors such as locations and how well the business is run. Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing gym franchises in the United States. Estimated Number of Units: 2,300. 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. 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. Mr. Barber holds a B.S. Prior to Planet Fitness, Ms. Gosselin worked at Dunkin Brands on the global public relations team. JLM Financial Partners, Austin, Texas, and Eagle Merchant Partners, Atlanta . Orange Theory Franchise was founded in Boca Raton, Florida in 2009. [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. Join PFIFC 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. [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. . Although gym franchises require that the owner has previous management experience, most dont require experience in the. All told, their gyms boast over 14 million members worldwide. Prospective owners are asked to have a minimum net worth of $3 million and a minimum of $1,500,000 in liquid capital. 6.4 miles away from Planet Fitness. [21] Some bodybuilders and weight lifters have found the way they're portrayed in Planet Fitness TV commercials to be offensive, and the way they're treated in Planet Fitness gyms to be "quite possibly discriminatory. Franchise fee: one-time $10,000 for a 10-year renewable agreement. Your experience may vary depending on whether you finance tenant improvements, your location, and other factors. [8][9][7] In 2002, they purchased the rights to the name Planet Fitness from Rick Berks and renamed their franchise. The Planet Fitness franchise was founded in 1992 and has been franchising since 2003. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. Planet Fitness franchise is one of the largest fitness US chains by a number of members and locations. "[23], In the fall of 2013, TSG Consumer Partners LLC became an equity partner in the Planet Fitness franchise. But perhaps most important to this process is interviewing current franchisees. The Initial Franchise Fee is uniform and non-refundable. Former Gov. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see the mustache commercial? As of December 2021, 98% of all franchised stores were owned and operated by A franchisee group that owned at least three stores, and while Planet Fitness Largest franchisee owned 175 Stores, Only 33% of its franchisee groups own more than 10 stores.
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