planet fitness franchise owners list

It offers classes for dance, aqua, cycle, box, pilates, and many more. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. Initial franchise terms are 10 years. 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. [25][26] The company went public on August 6, 2015. The Best Fitness Franchises You Can Buy - Trafft [16] Planet Fitness became known as the "Judgement Free Zone", aimed more at the average user than the bodybuilder type of fitness enthusiast. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. 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. Who Owns Planet Fitness? (Franchise, CEO & More) - Trusty Spotter Their website reads, We are not currently accepting new franchisee applications for US expansion.. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. "[20] In 2003, Planet Fitness opened its first franchised location in Florida, with Eric Dore and Shane McGuiness. [5] It markets itself as a "Judgement Free Zone" that caters to novice and casual gym users, and has faced both praise and criticism for its atmosphere. [41][42] In October 2015 the company opened their second international location in Santo Domingo, Dominican Republic. Former Gov. Cash Required $1,500,000. The 2019 Planet Fitness Franchise Awards were given to the following: Hall of Fame: Jeff & James Innocenti - PF Supreme Franchisee of the Year: Mike Turner & CJ Bouchard - Excel Fitness Operator of the Year: Steve Kindler, Jr. - National Fitness Partners Developer of the Year: Tim Kelleher - Taymax Group There are both advantages and disadvantages of franchising, so make sure you weigh both sides thoroughly. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. With this purchase, which was for an undisclosed amount, United PF's club count has . [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. These figures are estimates based on Planet Fitness and its affiliates experience in operating locations. 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. Pre-qualified offers are not binding. 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. 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. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. Pre-qualified offers are not binding. Sherrill Kaplan joined Planet Fitness in June 2021 as Chief Digital Officer. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. The total investment to open a Planet Fitness gym ranges from $728,290 - $3,777,800. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. [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. Prior to Dunkin, she worked at various communications agencies in both Boston and Washington, DC on behalf of various leading retail brands. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. Brian ODonnell joined Planet Fitness in February 2016 and currently serves as VP, Chief Accounting Officer. An offshoot of the (purportedly) $7 billion UFC brand, UFC Gyms offer MMA-inspired personal and specialized training, traditional and fusion martial arts classes, and youth fitness classes. 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. Owner WIRED Telcom 159 W 1st Street Oswego, NY 13126 Phone: (315) 326-3350 . Planet Fitness Franchise | Cost, Fees & Earning Stats (2023) 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. has over 8,900 franchises across the country. However, this does not influence our evaluations. Franchise candidates can expect to pay anywhere between $354k to $1.2m. Estimated annual transaction costs per location range from $9,000- $72,000, Equal to 50% of our then-current initial franchise fee. You may need additional operating capital, or you may need it for a longer period of time. The Planet Fitness initial franchise fee is $20,000. -In thousands and rounded; represents electronic funds presented for draft for the 12 months of calendar year 2019 and 2020, respectively. You'll build confidence while increasing your fitness knowledge. [51] In April 2022, Planet Fitness appeared as a sponsor on a race truck for the first time in the 2022 Pinty's Truck Race on Dirt with Logano driving the truck. 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). In fact, in a recent Inc. 5000 list of the 10 fastest growing franchises, four were fitness franchises. We reviewed the larger franchise industry as well as selling price multiples for larger systems where more transaction data is available. From the start, Planet Fitnesswas an inclusive, non-intimidating gym and in 1997, Planet Fitness officially unveiled its Judgement Free Zone philosophy. Rated Excellent on TrustPilot with feedback from 50+ customers. Prior to that he served as the Chief Operating Officer since 2003. If you sign an Area Development Agreement, the Initial Franchise Fee for each location opened under the Area Development Agreement will be $20,000 for Franchise Agreements entered into within four years of the effective date of your Area Development Agreement. 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. PLANET FITNESS - 57 Photos & 19 Reviews - Yelp Since their start in 2002, Anytime Fitness has opened over 4,000 locations on all seven continents. As can be seen, Planet Fitness stock has outpaced the S&P 500 by almost 2x. This model has become extremely sticky in the fitness industry because while many people want to achieve their fitness goals, they innately lack motivation. The Planet Fitness franchise sets itself apart from other gyms by being the "Judgement Free Zone" where everyone can feel comfo. 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. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. Browse 1000s of reports on 1000s of franchise systems. Your experience may vary depending on whether you finance tenant improvements, your location, and other factors. 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. Estimated total initial investment: $2,405 to $3,200. Planet Fitness Franchise Costs, Fees, Revenues, Profits (2022 Review) Franchise Sales Manager Planet Fitness 4 Liberty Lane West Hampton, NH 03842 Phone: (603) 750-0001 The franchise requires that candidates have access to over $90,000 in liquid capital, and a minimum net worth of $300,000. After a few years of growth, Planet Fitness started franchising in 2003 with the first franchised gym opened in Florida. Corporate Governance - Management Team - Planet Fitness So how do we make money? Then, the last four workouts in the program will take place in the gym and you'll learn how . In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. 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. Gym franchises dont get much more classic than Jazzercise, the high-intensity, dance-cardio fusion class that became a fitness mainstay during the 80s exercise boom. [44][37] In 2016, over 90% of Planet Fitness locations were opened by existing franchise owners. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. Initial investments: $969,600 - $4,242,500 If you are thinking about how to open a Planet Fitness franchise, begin with a franchise investment information. There are very few reasons why one might want to open a Planet Fitness franchise. 2% of the total gross monthly EFT Dues Draft. Many of these are one-time fees that are needed to launch the franchise. Planet Fitness Franchise Cost The estimated total investment necessary to begin the operation of a Planet Fitness Franchise ranges from $1,625,600 - $4,921,000. Initial investments: $969,600 - $4,242,500 Net Worth Requirement: $3,000,000 Liquid Cash Requirement: $1,500,000 Estimated Initial Investment Planet Fitness Franchise Cost & Fees | How To Open | Opportunities And 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. Franchise Division including leading the operations, development and construction, vendor management and local marketing execution teams. has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Annually Updated with New Owners of Planet Fitness Locations in the USA. [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. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. Initial franchise fee: $32,000 to $40,000, Estimated total initial investment: $2.2 million to $5 million. You must maintain your equipment according to Planet Fitness brand standards. Ms. Gentilozzi is a certified Senior Professional in Human Resources (SPHR). Planet Fitness franchise is growing, and it is growing fast. Get in touch with Planet Fitness Owners from around the US with verified contact data for all owners of all Planet Fitness locations. On this Wikipedia the language links are at the top of the page across from the article title. The fitness center industry is mainly divided into two groups, either a specialized fitness boutique or a full-scale gym with multiple amenities and services. Both of these fitness companies, while they differ in business models, use your own fitness data and others to create a competitive atmosphere. Justin Vartanian serves as General Counsel and SVP, International Division overseeing all legal matters and international development. Estimated total initial investment: $198,650 to $446,250. The policy states that "members and guests may use all gym facilities based on their sincere self-reported gender identity. Planet Fitness Announces Winners of Annual Franchisee Awards - PR Newswire [7] They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. 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 . Fitness Franchisee Contact Lists - FranchiseComplaints.org Verizon Wireless, and Westin, just to name a very few. You are going to upgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. 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). You will pay a lump-sum nonrefundable Initial Franchise Fee in the amount of $20,000 when you sign the Franchise Agreement. Our opinions are our own. 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. [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. Even after the pandemic hit, it continued to grow at a rate of over 100 units. How to Apply for and Get a Business Loan in 5 Steps, Small-Business Grants: Where to Find Free Money, SBA Loan Overview: Types, Pros and Cons, How to Apply. Call (888) 977-4374. Estimated total initial investment: $303,000 to $499,850. Find Accurate Contact Data for Fitness Franchise Owners. [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. This is significantly lower than the midpoint investment of $3,273,500. [36], The company reports that as of 2019, there are 80 corporate-owned gyms, the rest independently owned and operated. 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. [19] According to a Planet Money episode from 2014, "half of the Planet Fitness members don't ever go to their gyms. Annually Updated with New Owners of Planet Fitness Locations in the USA. The Grondahls changed the gyms name to Planet Fitness in 1994. 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. The total investment ranges from $728,290 to $3,777,800. Orange Theorys success is quite similar to Pelotons rise to fame. Benson is back on the board of Planet Fitness 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. Largest Planet Fitness Franchisee Group Acquired by New York Private Over the last three years, the company has been expanding. The owner of the franchise (the franchisee) is expected to be involved in all aspects of day-to-day operations. This, too, is best evaluated with the help of an accountant or business lawyer, who can help you break down the fine print. 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. 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. 1),[16] and in its 2016 ranking of franchises, Forbes magazine ranked Planet Fitness No. Ms. Gosselin was named a Top Woman in PR by PR News in 2020. 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. [24] Michael Grondahl, co-founder of Planet Fitness stepped down as CEO, and was succeeded by Chris Rondeau. Ms. Medeiros has been instrumental in developing and refining Planet Fitness marketing strategy and differentiated Judgement Free positioning in the fitness industry. 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. Edward Hymes joined Planet Fitness in January 2023 as President and Chief Operating Officer. 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. United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. Are fitness franchises profitable in 2022? - Glofox Performing this action will delete your account. Today, there are Planet Fitness franchise locations around the U.S. as well as Canada and the Dominican Republic. Building in competition to workouts enhances ones motivation and keeps consumers coming back. Planet Fitness ( PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. 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. Mr. Rondeau also received an honorary doctorate degree from Philadelphia University and received the Universitys honorary innovation medal. Burn Boot Camp You have to pay this upfront fee when opening a Planet Fitness franchise. Owning a. means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. Mr. ODonnell holds a CPA and received his Bachelors degree in Accounting from Assumption College in Massachusetts. Franchising Since: 2000. Even if your network of Planet Fitness franchises earns above $% a million, you will not be able to recover costs just by selling it. service, Computer System. Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. [17], As part of their effort to create a non-intimidating environment, Planet Fitness has alienated many serious weight lifters. Ad Royalty Fee: $300/mo. Due Date: Paid monthly and annually. Thanks to that near-legendary status in the fitness world, and their loyal customers. Initial term lengths last 10 years. [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. Top Fitness Franchises to Check Out - Franchise How [34] The royalty fee for a Planet Fitness is 7% of the total gross monthly and annual membership fees. 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. Prospective owners are asked to have a minimum net worth of $3 million and a minimum of $1,500,000 in liquid capital. [27], In February 2016, the franchise was added to the Franchise Times' "Fast and Serious" list of top franchises (No. [11][12] Berks had been catering to the bodybuilding culture in his Gold's Gym. 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. Investing in an Orange Theory franchise is an interesting opportunity, especially for individuals looking to make their way into the Fitness industry. The most popular workout model from Snap Fitness is known as MYFIT. [13] The new model was an effort to provide a fitness hub for everyday people. was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. 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. Owning a UFC Gym means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. 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. 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. Please renew to keep using our services. The following costs are part of the upfront costs included in the initial investment for Planet Fitness locations. 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. [47], In March 2013, Planet Fitness partnered with 50 Cent to sell his energy drink "Street King". When evaluating offers, please review the financial institutions Terms and Conditions. Our partners cannot pay us to guarantee favorable reviews of their products or services. Our research and analytics team analyzed over 120 franchise concept investment breakdowns in order to calculate this figure. [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. [35], The net worth requirement for a Planet Fitness franchise is $3,000,000, while the liquid cash requirement is $1,500,000. 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. 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. He joined Planet Fitness in 2016 as the Senior Vice President of Franchise Operations. 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. She received her Bachelors degree from Eastern Connecticut State University. "[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. This investment is much higher than the industry standard of $253,000. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. This metric is the standard industry investment amount for a single unit franchise investment in this industry. Planet Fitness (PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. 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. The difficult part of this step of the franchise buying due diligence process lies in obtaining a current list of Planet Fitness franchise owners. 9 Best Gym Franchises - NerdWallet

Naga Munchetty Wedding Pictures, Jet2holidays Amend My Booking, Articles P