Ongoing Royalty Fee: $449 - $549/mo. That way, participants can both track their own progress, and see how it stacks up to other people in the classso if you thrive on competition, this is the gym franchise for you. 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. Planet Fitness Announces 2019 Franchise Awards 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. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. Additional Training: Ongoing training 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 [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. The more franchises you own, the more earning potential you have as private equity firms become interested in your business instead of individual owner-operators. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. 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 Franchise Cost Worth the Profit? - Vetted Biz With that said, a Planet Fitness franchise . ASK QUESTIONS ABOUT THE FRANCHISE, Distributorship Opportunities For Business, the terms of Edward Hymes joined Planet Fitness in January 2023 as President and Chief Operating Officer. 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. Call (888) . [13] The new model was an effort to provide a fitness hub for everyday people. has opened over 4,000 locations on all seven continents. Get in touch with Planet Fitness Owners from around the US with verified contact data for all owners of all Planet Fitness locations. Pre-qualified offers are not binding. [15], Rondeau and the Grondahls recognized that there was a greater opportunity to serve a much larger segment of the population if they changed the gym environment, both in attitude and format, by creating a non-intimidating, low-cost model. 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. Ms. Gentilozzi is a certified Senior Professional in Human Resources (SPHR). 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. [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. Here is a list of our partners. Investing in an Orange Theory franchise is an interesting opportunity, especially for individuals looking to make their way into the Fitness industry. 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. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. Their website reads, We are not currently accepting new franchisee applications for US expansion.. Compared to $145 million in 2020, they saw an increase of 44% from 2020 to 2021. 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. Call (888) 977-4374. To be eligible to open a. , candidates must have at least $1 million in net worth and access to $300,000 to $400,000 in liquid assets. Largest Planet Fitness Franchisee Group Acquired by New York Private ", "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. JLM Financial Partners, Austin, Texas, and Eagle Merchant Partners, Atlanta . Both of these fitness companies, while they differ in business models, use your own fitness data and others to create a competitive atmosphere. [17], As part of their effort to create a non-intimidating environment, Planet Fitness has alienated many serious weight lifters. Owning a UFC Gym means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. The initial Planet Fitness Franchise Fee is $20,000. 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. She received her Bachelors degree in Public Communications from American University in Washington, DC, and served on the Board of Directors for the Boys & Girls Clubs of Manchester, NH. 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. Orange Theory was ranked 49th in the franchise 500 rankings according to entrepreneur.com. You have to pay this upfront fee when opening a Planet Fitness franchise. has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. Planet Fitness offers people the opportunity to be a part of the fitness business, but we do not believe this is sustainable. Ms. Kaplan holds a B.S. According to Franchise Direct, the initial franchise fee is $20,000, while the area development fee is $10,000. 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. You are going to upgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. 1),[16] and in its 2016 ranking of franchises, Forbes magazine ranked Planet Fitness No. Planet Fitness Franchise | Cost, Fees & Earning Stats (2023) - In Mexican currency, the investment comes around Peso 20,19 million to Peso 88,33 million. 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). Like. Planet Fitness, Inc. to Acquire 114 Locations From One of Its Top Initial franchise terms are 10 years. The policy states that "members and guests may use all gym facilities based on their sincere self-reported gender identity. To open a gym, a franchisee must have of $3 million with $1,500,000 in liquid assets. Initial investments: $969,600 - $4,242,500 Net Worth Requirement: $3,000,000 Liquid Cash Requirement: $1,500,000 Estimated Initial Investment Prior to joining the Company, Mr. ODonnell most recently served as Vice President of Finance and Chief Accounting Officer at Sonus Networks. [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 us direct at (855) 822-0912, Get Contact Details & Mailing List of Planet Fitness Franchisees, The difficult part of this step of the franchise buying due diligence. The Grondahls changed the gyms name to Planet Fitness in 1994. From the start, Planet Fitnesswas an inclusive, non-intimidating gym and in 1997, Planet Fitness officially unveiled its Judgement Free Zone philosophy. 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. Largest Planet Fitness Franchisee Acquires 19 Planet Fitness Clubs in All initial fees are the same for both initial and conversion franchises. 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. Our partners cannot pay us to guarantee favorable reviews of their products or services. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. 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? Ultimately, the only way to know which gym franchise is right for you is to do your own due diligence. Year Business Began: 1992. Planet Fitness Initial franchise fee: $20,000 Estimated total initial investment: $1 million to $4.1 million Planet Fitness trademarked the phrase "judgment free zone," so that alone. They opened a new gym called Coastal Fitness and the Grondahls hired current CEO Chris Rondeau, who was still in college at the time, to run the gyms front desk. In this role, he oversees the Companys accounting and treasury functions. Pre-qualified offers are not binding. Ms. Medeiros has been instrumental in developing and refining Planet Fitness marketing strategy and differentiated Judgement Free positioning in the fitness industry. Annually Updated with New Owners of Planet Fitness Locations in the USA. They provide an affordable, high-quality fitness experience in a welcoming environment. Please confirm by clicking on the Cancel Subscriptionbutton below. 8. "[22], As early as March 2015, the "Judgement Free Zone" policy was expanded to allow trans women to use the women's locker room. Franchising Since: 2000. 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. The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. Franchise Sales Manager Planet Fitness 4 Liberty Lane West Hampton, NH 03842 Phone: (603) 750-0001 We believe everyone should be able to make financial decisions with confidence. Planet Fitness | Judgement Free Zone | Gym and Fitness Club 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. 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. That said, as of June 2022, Planet Fitness has paused offering franchises. All told, their gyms boast over 14 million members worldwide. in Pilates. 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. Our research and analytics team analyzed over 120 franchise concept investment breakdowns in order to calculate this figure. Since their start in 2002, Anytime Fitness has opened over 4,000 locations on all seven continents. service, Computer System. The initial Planet Fitness Franchise Fee is $20,000. - In Saudi Arabia currency, the investment comes around SR 3,64 million to SR 15,91 million. Even more reason to consider investing in a gym franchise? 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. [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. [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. Christine Aebischer is an assistant assigning editor on the small-business team at NerdWallet who has covered business and personal finance for nearly a decade. 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 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. The highest Planet Fitness franchise made over 3 million dollars in revenue, whereas the lowest earning one made $165,000. 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. Franchise. It is reported to be the nations fastest growing fitness center franchise. 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. - In the United States, the total investment to start the Planet Fitness gym is around $969,600 to $4,242,500. Previously, Mr. Fitzgerald served as Chief Administrative Officer of Sears Canada. Planet Fitness franchise was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. 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). We started our business in 1992 and refined our brand for a decade or so before franchising in 2003. Planet Fitness - Wikipedia You'll build confidence while increasing your fitness knowledge. 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. -In thousands and rounded; represents electronic funds presented for draft for the 12 months of calendar year 2019 and 2020, respectively. This influences which products we write about and where and how the product appears on a page. To open a gym, a franchisee must have a net worth of $3 million with a minimum of $1,500,000 in liquid assets. He held multiple store operations positions with P&L responsibility progressing from Store Manager to Regional Manager. However, this ultra-famous franchise is the most expensive on this list, with an estimated upfront investment potentially reaching over $5 million. In other words, franchising takes most of the heavy lifting off your shoulders. 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. This document includes information about the franchises financial standing, capital requirements, franchisee training, and ongoing franchise fees, among other crucial information. 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. NerdWallet strives to keep its information accurate and up to date. As a result, she has played an instrumental role in the major strategic decisions made by the Company. 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. So how do we make money? And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. This covers the cost of being able to use their name and logo. Initial term lengths last 10 years. As a franchise owner, youll benefit from a proven business model, brand recognition, existing customer base, vendor network, and robust franchisee support system. Planet Fitness franchisees also compete against other smaller gym and fitness business locations. 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. Paul Barber joined Planet Fitness in October 2022 as the Companys Chief Information Officer. Planet Fitness Independent Franchisee Council Join Us Today! PF Independent Franchisee Council Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. 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. Find other similar franchises in our catalog! There are tons of gym franchises seeking new location owners, but this list represents nine of the most promising gym franchises on the market right nowbased mainly on name recognition, growth rate, and franchisor support system. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Lets get started. 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 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. Throughout his tenure at Dunkin Brands, Mr. 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. Join PFIFC Planet Fitness (PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. [25][26] The company went public on August 6, 2015. 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.

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