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. Brands, he supported the team tasked with transforming and modernizing technology and data systems both domestically for KFC and internationally in Australia for Pizza Hut. 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. Subscribe to our newsletters and keep up-to-date with the latest news in the franchise industry. 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. [36], The company reports that as of 2019, there are 80 corporate-owned gyms, the rest independently owned and operated. has opened over 4,000 locations on all seven continents. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. 4. [18] This low-cost business model focuses on the needs of occasional or first-time health club members, rather than more experienced members,[6] and depends on many members rarely showing up. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. From the start, Planet Fitnesswas an inclusive, non-intimidating gym and in 1997, Planet Fitness officially unveiled its Judgement Free Zone philosophy. Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. Annually Updated with New Owners of Planet Fitness Locations in the USA. Throughout his tenure at Dunkin Brands, Mr. List to Contact Planet Fitness Franchise Owners - Planet Fitness Owners Contact List. 1),[16] and in its 2016 ranking of franchises, Forbes magazine ranked Planet Fitness No. 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. 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. According to Franchise Direct, the initial franchise fee is $20,000, while the area development fee is $10,000. Planet Fitness competes in the Fitness market against big brand companies such as Orange Theory and Golds Gym. Compared to $145 million in 2020, they saw an increase of 44% from 2020 to 2021. [27], In February 2016, the franchise was added to the Franchise Times' "Fast and Serious" list of top franchises (No. was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. Do not sell or share my personal information. [17] They also dramatically reduced prices to compete against better-known brands. [34] The royalty fee for a Planet Fitness is 7% of the total gross monthly and annual membership fees. In this role, he oversees the Companys accounting and treasury functions. She received her Bachelors degree from Eastern Connecticut State University. 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. You are going to upgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. It offers classes for dance, aqua, cycle, box, pilates, and many more. Orange Theory uses your heart rate to show your exertion potential compared to the maximal effort and compares you to your peers in classes. With this purchase, which was for an undisclosed amount, United PF's club count has . If you own and operate multiple Planet Fitness businesses in the same market area and LAF spending for them is combined. [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. [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. This influences which products we write about and where and how the product appears on a page. 1 comment. Mr. Fitzgerald began his career at PepsiCo, where he held various leadership roles in finance and planning. industry. Kathy Gentilozzi joined Planet Fitness in 2019 as the Companys Chief People Officer. [19] According to a Planet Money episode from 2014, "half of the Planet Fitness members don't ever go to their gyms. Planet Fitness franchise was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. Initial term lengths last 10 years. Edward Hymes joined Planet Fitness in January 2023 as President and Chief Operating Officer. 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. 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. You'll build confidence while increasing your fitness knowledge. | United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. Browse 1000s of reports on 1000s of franchise systems. You will pay a lump-sum nonrefundable Initial Franchise Fee in the amount of $20,000 when you sign the Franchise Agreement. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see the mustache commercial? It is reported to be the nations fastest growing fitness center franchise. Even more reason to consider investing in a gym franchise? OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105. Bill Bode serves as Division President, U.S. You may need additional operating capital, or you may need it for a longer period of time. Today, there are Planet Fitness franchise locations around the U.S. as well as Canada and the Dominican Republic. 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 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. - In Indian currency, the investment comes around Rs 7,14 crores to Rs 31,23 crores. Here is a list of our partners. Throughout her tenure, she has held roles of increasing responsibility, with her most recent position being Vice President of National Marketing. In this role, she oversees general HR operations, talent acquisition, leadership development, business partner support, culture and employee engagement, benefits and compensation. 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. Even though its smaller than Pure Barre, The Bar Method franchise is growing quickly: In 2018, The Bar Method saw a 118% growth rate. McCall Gosselin joined Planet Fitness in January 2013 and currently serves as SVP of Communications and Corporate Social Responsibility. This document includes information about the franchises financial standing, capital requirements, franchisee training, and ongoing franchise fees, among other crucial information. This could be an indicator that franchisees are doing really well. Ms. Gentilozzi is a certified Senior Professional in Human Resources (SPHR). [7] They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. 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. Then, the last four workouts in the program will take place in the gym and you'll learn how . Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. 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. Mr. ODonnell holds a CPA and received his Bachelors degree in Accounting from Assumption College in Massachusetts. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. In this role, he leads all aspects of our U.S. While this may be the business for you, make sure also to check out other companies offered on Vetted Biz and in the Fitness Industry. 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. An individual planet fitness franchise owner can make around $513,00 to $5,554,000 annually. Even after the pandemic hit, it continued to grow at a rate of over 100 units. It is important to talk to other franchisees and see what their costs were for leasehold improvements and construction. Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. Review the chart below to see how much it costs to buy a Planet Fitness franchise in 2022. Over the last three years, the company has been expanding. From there, youll receive additional materials to help inform your decision, including the all-important franchise agreement, including the franchise disclosure document (FDD). Franchise candidates can expect to pay anywhere between $354k to $1.2m. Your actual costs may be higher or lower depending on the size and location of your Planet Fitness business. Prior to joining Planet Fitness, Ms. Simmons worked in Finance and Business Planning roles for Timberland, PepsiCo, and Fisher Scientific International. [41][42] In October 2015 the company opened their second international location in Santo Domingo, Dominican Republic. Across 50 states the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia Many or all of the products featured here are from our partners who compensate us. Currently, the. Paid Grace Period. 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. Estimated total initial investment: $303,000 to $499,850. She is based in Santa Monica, California. Get in touch with Planet Fitness Owners from around the US with verified contact data for all owners of all Planet Fitness locations. The prospects for growth and success within the industry and the Orange Theory brand itself, are extensive, and some markets continue to be available as they move forward with growing their presence across the country. 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. Both of these fitness companies, while they differ in business models, use your own fitness data and others to create a competitive atmosphere. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Before the pandemic, it was growing at a rate of approximately 200 units a year, which is impressive. The Initial Franchise Fee is uniform and non-refundable. [54][55] Also in 2016, the company donated more than $1 million to the program. He joined Planet Fitness in 2016 as the Senior Vice President of Franchise Operations. - In currency of Germany, the investment comes around EUR 805,430 to EUR 3,524,180. Prior to joining the Company, Mr. ODonnell most recently served as Vice President of Finance and Chief Accounting Officer at Sonus Networks. Join PFIFC Investing in an Orange Theory franchise is an interesting opportunity, especially for individuals looking to make their way into the Fitness industry. Prior to Dunkin, she worked at various communications agencies in both Boston and Washington, DC on behalf of various leading retail brands. [32][33], Planet Fitness started franchising units in 2003. Franchise Sales Manager Planet Fitness 4 Liberty Lane West Hampton, NH 03842 Phone: (603) 750-0001 All financial products, shopping products and services are presented without warranty. 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. - In the United States, the total investment to start the Planet Fitness gym is around $969,600 to $4,242,500. 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. Prior to Jiffy Lube, he served on Shells global Downstream Acquisitions & Divestments Leadership Team with responsibility for transaction delivery across North and South America. 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. While at Dunkin Brands, he helped lead the technology team that rolled out mobile ordering across 9,000 locations. Estimated total initial investment: $198,650 to $446,250. If you acquire rights under our Area Development program, you will pay an Area Development Fee equal to $10,000 per location to be developed under the Area Development Agreement when you sign the Area Development Agreement. 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. Orangetheory Fitness provides a totally unique (and seriously hard) group workout experience. This routine is an 18-minute HIIT workout that targets cardio and endurance. 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. 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. Justin Vartanian serves as General Counsel and SVP, International Division overseeing all legal matters and international development. Paul Barber joined Planet Fitness in October 2022 as the Companys Chief Information Officer. Mr. Barber holds a B.S. [47], In March 2013, Planet Fitness partnered with 50 Cent to sell his energy drink "Street King". This is a good indication of high growth as a company overall. The Judgement Free Zone was started to help first-time gym users feel more comfortable starting their fitness journey. The Planet Fitness initial franchise fee is $20,000. 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. That said, Orangetheory is designed for people of all fitness levels, since participants can go entirely at their own pace. Initial investments: $969,600 - $4,242,500 Thanks to that near-legendary status in the fitness world, and their loyal customers. Bode was also responsible for U.S brand compliance and business development along with leadership positions overseeing training, store development, marketing, and franchising. All told, their gyms boast over 14 million members worldwide. 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 Many of these are one-time fees that are needed to launch the franchise. That said, as of June 2022, Planet Fitness has paused offering franchises. 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 . 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).
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