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Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. An individual planet fitness franchise owner can make around $513,00 to $5,554,000 annually. * 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. 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. Chris Rondeau has served as the Chief Executive Officer of Planet Fitness since January 2013. 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. 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. 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. Even though its smaller than Pure Barre. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. But buying into a gym franchise is a less risky venture than building a gym from the ground up. 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. This FREE 10-part progressive program will help you get movin'. When evaluating offers, please review the financial institutions Terms and Conditions. We started our business in 1992 and refined our brand for a decade or so before franchising in 2003. On this Wikipedia the language links are at the top of the page across from the article title. Liquid Cash Requirement: $1,500,000. These figures are estimates based on Planet Fitness and its affiliates experience in operating locations. Bringing Franchise Owners Together to Share and Grow. Annually Updated with New Owners of Planet Fitness Locations in the USA. The Grondahls changed the gyms name to Planet Fitness in 1994. 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. 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). List to Contact Planet Fitness Franchise Owners - Planet Fitness Owners Contact List. Except for signage, Planet Fitness will not require substantial remodeling more often than every 5 years during the term of the Franchise Agreement. Initial Franchise Fee: $20,000 has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. subject to maximum fee of $40,000, Concurrently with our granting a successor franchise to you, Actual costs (approximately $1,200 per visit), Cure Period Extension Fee (Franchise Agreement), Paid monthly via EFT on the day designated as your Monthly Membership Billing Day, as defined in our Franchise Agreement, Grace Period Fee (Area Development Agreement), Paid monthly beginning on the first day of the Prior to joining Planet Fitness, Mr. Vartanian was a corporate attorney at Devine Millimet. 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. Our franchise contact lists contain contact details for both owners of single franchise units and multi-unit franchise owners, that is, franchisees that own many franchised locations. Your actual costs may be higher or lower depending on the size and location of your Planet Fitness business. [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. Golds Gym also requires that potential franchisees have a minimum of $1 million in net worth and $400,000 in liquid assets. 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. JLM Financial Partners, Austin, Texas, and Eagle Merchant Partners, Atlanta . Mr. ODonnell holds a CPA and received his Bachelors degree in Accounting from Assumption College in Massachusetts. In this role, he oversees the Companys accounting and treasury functions. 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. Building in competition to workouts enhances ones motivation and keeps consumers coming back. However, this ultra-famous franchise is the most expensive on this list, with an estimated upfront investment potentially reaching over $5 million. You are going to upgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. Initial franchise terms are 10 years. 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. 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. Year Business Began: 1992. Justin Vartanian serves as General Counsel and SVP, International Division overseeing all legal matters and international development. - In Philippine currency, the investment comes around Php 47,15 million to Php 206,34 million. Subscribe to our newsletters and keep up-to-date with the latest news in the franchise industry. . Initial franchise fee: $32,000 to $40,000, Estimated total initial investment: $2.2 million to $5 million. Planet Fitness franchise is growing, and it is growing fast. 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. 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. 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. Have questions? Ms. Medeiros received her Bachelors degree from the University of New Hampshire. Franchise candidates can expect to pay anywhere between $354k to $1.2m. We offer the most complete and most accurate mailing/telemarketing list for Planet Fitness franchise owners. This routine is an 18-minute HIIT workout that targets cardio and endurance. Please scroll down for a partial list of franchise businesses. 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. The initial Planet Fitness Franchise Fee is $20,000. Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. [48], Since December 2014, Planet Fitness has been the official fitness sponsor of Dick Clark's New Year's Rockin' Eve on ABC. Kathy Gentilozzi joined Planet Fitness in 2019 as the Companys Chief People Officer. For those looking to get started with a Planet Fitness franchise, it's important to factor in all of these costs so that you have a clear understanding of the total investment required. This, too, is best evaluated with the help of an accountant or business lawyer, who can help you break down the fine print. 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 more franchises you own, the more earning potential you have as private equity firms become interested in your business instead of individual owner-operators. Jamie Medeiros joined Planet Fitness in 2000, where she worked at the front desk in the Companys third location before transitioning to the Planet Fitness corporate marketing team. 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. Franchising Since: 2000. 1),[16] and in its 2016 ranking of franchises, Forbes magazine ranked Planet Fitness No. From the start, Planet Fitnesswas an inclusive, non-intimidating gym and in 1997, Planet Fitness officially unveiled its Judgement Free Zone philosophy. 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. [28] It ranked in the top 50 of Entrepreneur magazine's Franchise 500 in 2017. Orange Theory Franchise was founded in Boca Raton, Florida in 2009. Since their start in 2002, Anytime Fitness has opened over 4,000 locations on all seven continents. 4 Liberty Ln. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see. She received her Bachelors degree from Eastern Connecticut State University. [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. 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. 1 comment. You will pay a lump-sum nonrefundable Initial Franchise Fee in the amount of $20,000 when you sign the Franchise Agreement. Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. Investing in an Orange Theory franchise is an interesting opportunity, especially for individuals looking to make their way into the Fitness industry. Join now to become a registered PFIFC member and gain access to a wealth of information that will help you succeed as a Planet Fitness owner. Ultimately, the only way to know which gym franchise is right for you is to do your own due diligence. 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. Planet Fitness Franchise Owners Contact List $ 149 Add to cart; GNC Franchisee Owners List $ 129 - $ 179 Select options; Club Pilates Franchisee Owners List $ 99 Add to cart; Golds Gym Franchisee Owners List 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. Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. Sorry. Looks like your subscription is due. 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. All reactions: 8. Although gym franchises require that the owner has previous management experience, most dont require experience in the fitness industry. 4. 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. Mr. Rondeau also received an honorary doctorate degree from Philadelphia University and received the Universitys honorary innovation medal. Both franchising units and company-operated stores have increased. However, the profit varies on your location also. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. Like. The biggest expenses in the additional costs section are leasehold improvements and construction costs which vary greatly from $1,250,000 to $2,163,000. Fitness franchises are currently booming with the largest franchises globally being Anytime Fitness and Planet Fitness. The initial Planet Fitness Franchise Fee is $20,000. Here is a list of our partners. Planet Fitness is a profitable business for the franchisor, with retained earnings of $210 million in 2021. 2% of the total gross monthly EFT Dues Draft. Prior to Dunkin, she worked at various communications agencies in both Boston and Washington, DC on behalf of various leading retail brands. This document includes information about the franchises financial standing, capital requirements, franchisee training, and ongoing franchise fees, among other crucial information. industry. 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 We also suggest that you speak to 3 5 Planet Fitness owners before opening one yourself. Previously, she was an editor at Fundera, where she developed service-driven content on topics such as business lending, software and insurance. Franchise fee: one-time $42,500 Royalty fees: $699/mo Planet Fitness Planet fitness has locations in Canada, Mexico, Panama, and all 50 states of the US. Office Depot, Planet Fitness, Roto Rooter, Starbucks, Taco Bell, Travelers, and United Health Group. Today the brand has over 2,000 locations system-wide. NerdWallet strives to keep its information accurate and up to date.