planet fitness franchise owners list10 marca 2023
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. Ongoing Royalty Fee: $449 - $549/mo. She is based in Santa Monica, California. 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. Planet Fitness ( PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. The difficult part of this step of the franchise buying due diligence process lies in obtaining a current list of Planet Fitness franchise owners. The Initial Franchise Fee is uniform and non-refundable. 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. You must maintain your equipment according to Planet Fitness brand standards. Headquarters: Hampton, New Hampshire. Prior to Sonus, he worked for more than 10 years in public accounting with both Deloitte and Touche and Arthur Andersen. 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. You have to pay this upfront fee when opening a Planet Fitness franchise. 6.4 miles away from Planet Fitness. From the start, Planet Fitnesswas an inclusive, non-intimidating gym and in 1997, Planet Fitness officially unveiled its Judgement Free Zone philosophy. 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. The chain has over a thousand locations with over 400 units outside the US. Craig Benson has rejoined the board of directors of Planet Fitness, a national gym chain based in Hampton in which he is a substantial franchisee and which uses software from a company that Benson partly owns, according to a Securities and Exchange Commission filing. [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. He has covered financial topics as an editor for more than a decade. "[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. LearningRx Franchise Corporation 5085 List Drive, #200 Colorado Springs, CO 80919 Phone: (719) 264-8808 Liz Anderson . Subscribe to our newsletters and keep up-to-date with the latest news in the franchise industry. Initial Franchise Fee: $20,000 New franchise owners can also expect to participate in a comprehensive training program, as the franchise requires their franchisees to be certified barre instructors. [48], Since December 2014, Planet Fitness has been the official fitness sponsor of Dick Clark's New Year's Rockin' Eve on ABC. - In the United States, the total investment to start the Planet Fitness gym is around $969,600 to $4,242,500. Estimated total initial investment: $2,405 to $3,200. 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. 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. NerdWallet strives to keep its information accurate and up to date. Justin Vartanian serves as General Counsel and SVP, International Division overseeing all legal matters and international development. 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. From there, youll receive additional materials to help inform your decision, including the all-important franchise agreement, including the franchise disclosure document (FDD). According to their website, Pure Barre is the oldest and most established barre studio out there. [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. We were opening our 5th store then. [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. Orangetheory Fitness provides a totally unique (and seriously hard) group workout experience. After four years the Initial Franchise Fee for each location opened under the Area Development Agreement will be equal to then-current Initial Franchise Fee being charged to new franchisees. 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. Performing this action will delete your account. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. The total investment ranges from $728,290 to $3,777,800. ASK QUESTIONS ABOUT THE FRANCHISE, Distributorship Opportunities For Business, the terms of 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. Whether youre a gym rat yourself or youre passionate about helping others achieve their health goals, starting a fitness business can be a dream gig for health-conscious entrepreneurs. In 2020, he joined the International Franchise Association (IFA) Board of Directors; board members are drawn from a world-class set of franchise brands. 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. 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 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. 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). Franchise candidates can expect to pay anywhere between $354k to $1.2m. 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. For example, this includes replacing your cardio equipment every 5 years and replacing your non-cardio equipment every 7 years. Kathy Gentilozzi joined Planet Fitness in 2019 as the Companys Chief People Officer. Building in competition to workouts enhances ones motivation and keeps consumers coming back. Before the pandemic, it was growing at a rate of approximately 200 units a year, which is impressive. At the moment we can not connect you to the representative of this franchise. 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. This large discrepancy indicates the potential different costs you could face when building your Orange Theory franchise as a franchisee. [54][55] Also in 2016, the company donated more than $1 million to the program. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. 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. Benson, who co-founded the former Cabletron Systems, once the . Prior to Dunkin, she worked at various communications agencies in both Boston and Washington, DC on behalf of various leading retail brands. * The data above, compiled from the Planet Fitness FDD (Franchise Disclosure Document) 2020, represent the estimated financial range for the initial setting up and first 6 months of operation for a new Planet Fitness gym. Currently, Golds Gym franchise has available markets in almost every state across the country, and select international opportunities. As can be seen, Planet Fitness stock has outpaced the S&P 500 by almost 2x. So long as you are not decided on the fitness industry, we recommend you have a look at other offerings. [11][12] Berks had been catering to the bodybuilding culture in his Gold's Gym. Franchise. 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. Please confirm by clicking on the Cancel Subscriptionbutton below. In this role, he leads all aspects of our U.S. Then, the last four workouts in the program will take place in the gym and you'll learn how . Although gym franchises require that the owner has previous management experience, most dont require experience in the. If a fitness business with a franchise sounds good, heres nine of the most promising options for a gym franchise. Franchise fee: one-time $10,000 for a 10-year renewable agreement. Owning a fitness franchise is a fantastic way to enter into the multi-billion dollar fitness industry. We started our business in 1992 and refined our brand for a decade or so before franchising in 2003. 4. Planet Fitness franchise is one of the largest fitness US chains by a number of members and locations. 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. All reactions: 8. 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. Initial term lengths last 10 years. Upon your submission of your Construction Development Plans for our approval, Point of Sale Support, Processing and Account Management Services Fees, $149-$199 plus processing and credit card fees based on the number of transactions processed per month or number of eligible accounts enrolled in collections. - In Canadian currency, the investment comes around Can$ 1,231,300 to Can$ 5,387,800. 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. 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. 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. An individual planet fitness franchise owner can make around $513,00 to $5,554,000 annually. The total investment to open a Planet Fitness gym ranges from $728,290 - $3,777,800. Thanks to that near-legendary status in the fitness world, and their loyal customers. The franchise requires that candidates have access to over $90,000 in liquid capital, and a minimum net worth of $300,000. This article originally appeared on JustBusiness, a subsidiary of NerdWallet. 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. Many of these are one-time fees that are needed to launch the franchise. With this purchase, which was for an undisclosed amount, United PF's club count has . Franchising Since: 2000. Initial franchise terms are 10 years. Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. 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. Absentee Ownership Allowed, Planet Fitness Franchise Info: https://www.planetfitness.com. [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. Previously, Mr. Fitzgerald served as Chief Administrative Officer of Sears Canada. 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 . Rated Excellent on TrustPilot with feedback from 50+ customers. Estimated total initial investment: $303,000 to $499,850. That said, as of June 2022, Planet Fitness has paused offering franchises. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see. [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. 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. Find Accurate Contact Data for Fitness Franchise Owners. [6], In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. We provide estimated franchise costs for some countries: We reviewed the larger franchise industry as well as selling price multiples for larger systems where more transaction data is available. They provide an affordable, high-quality fitness experience in a welcoming environment. Our opinions are our own. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. 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. Mr. Rondeau also received an honorary doctorate degree from Philadelphia University and received the Universitys honorary innovation medal. 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. Estimated total initial investment: $58,870 to $521,437. 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. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. Both franchising units and company-operated stores have increased. In this role, she oversees general HR operations, talent acquisition, leadership development, business partner support, culture and employee engagement, benefits and compensation. She has also held editing roles at LearnVest, a personal finance startup, and its parent company, Northwestern Mutual. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. 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. Mr. Hymes started his career at Kmart Corporation, where he worked his way up the ranks starting as an hourly store team member and entered management after graduating with a Marketing degree from Northwest Missouri State University. 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. You'll also benefit from . 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. 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. An innovative entrepreneur, Mr. Rondeau was honored as an EY Entrepreneur of the Year and inducted into the UNH Alumni Entrepreneur Hall of Fame. 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. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly.