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 Performing this action will delete your account. It is important to talk to other franchisees and see what their costs were for leasehold improvements and construction. Prior to that he served as the Chief Operating Officer since 2003. 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. Annually Updated with New Owners of Planet Fitness Locations in the USA. Absentee Ownership Allowed, Planet Fitness Franchise Info: https://www.planetfitness.com. Fitness franchises are currently booming with the largest franchises globally being Anytime Fitness and Planet Fitness. Planet Fitness trademarked the phrase judgment free zone, so that alone should give you a sense of this gyms major value: inclusivity for all people, regardless of their fitness levels. In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. Fitness Franchisee Contact Lists - FranchiseComplaints.org Mr. ODonnell holds a CPA and received his Bachelors degree in Accounting from Assumption College in Massachusetts. 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. [39][29][40], In December 2014, Planet Fitness opened its first international location in Toronto, Ontario, Canada. has opened over 4,000 locations on all seven continents. Classroom Training: 80 hours [61], In January 2020, Planet Fitness partnered with The Biggest Loser to be the official sponsor of the show's 2020 reboot.[62]. 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. 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. 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. Planet Fitness competes in the Fitness market against big brand companies such as Orange Theory and Golds Gym. This article originally appeared on JustBusiness, a subsidiary of NerdWallet. But buying into a gym franchise is a less risky venture than building a gym from the ground up. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. Chris Rondeau has served as the Chief Executive Officer of Planet Fitness since January 2013. 6.4 miles away from Planet Fitness. [47], In March 2013, Planet Fitness partnered with 50 Cent to sell his energy drink "Street King". 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. Owning a fitness franchise is a fantastic way to enter into the multi-billion dollar fitness industry. Thanks to that near-legendary status in the fitness world, and their loyal customers, Jazzercise has over 8,900 franchises across the country. 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 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. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. Bill Bode serves as Division President, U.S. Largest Planet Fitness Franchisee Acquires 19 Planet Fitness Clubs in . Franchising Since: 2000. 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. Orange Theory Franchise was founded in Boca Raton, Florida in 2009. 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. 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. Call (888) 977-4374. 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. Mr. Rondeau joined Planet Fitness in 1993, working the front desk at the very first location in Dover, NH, one year after the original founders, Michael and Marc Grondahl, started the Company in 1992. 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. This covers the cost of being able to use their name and logo. The following costs are part of the upfront costs included in the initial investment for Planet Fitness locations. Planet Fitness has more members and locations than any other fitness brand. has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. The Planet Fitness franchise sets itself apart from other gyms by being the "Judgement Free Zone" where everyone can feel comfo. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. Then, you will be in compliance with the LAF requirement if you spend an amount that satisfies the LAF obligations for all the Planet Fitness businesses in the aggregate. [27], In February 2016, the franchise was added to the Franchise Times' "Fast and Serious" list of top franchises (No. 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. [8][9][7] In 2002, they purchased the rights to the name Planet Fitness from Rick Berks and renamed their franchise. 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. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. You have to pay this upfront fee when opening a Planet Fitness franchise. Our research and analytics team analyzed over 120 franchise concept investment breakdowns in order to calculate this figure. The initial Planet Fitness Franchise Fee is $20,000. Gathering all available information about each potential franchise will help you land on the gym that not only works for you financially, but that also resonates with your lifestyle and values. The franchise requires that candidates have access to over $90,000 in liquid capital, and a minimum net worth of $300,000. Year Business Began: 1992. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see the mustache commercial? You'll build confidence while increasing your fitness knowledge. This document includes information about the franchises financial standing, capital requirements, franchisee training, and ongoing franchise fees, among other crucial information. 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. 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. The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. With this purchase, which was for an undisclosed amount, United PF's club count has . 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. Ms. Medeiros has been instrumental in developing and refining Planet Fitness marketing strategy and differentiated Judgement Free positioning in the fitness industry. process lies in obtaining a current list of Planet Fitness franchise owners. Verizon Wireless, and Westin, just to name a very few. 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. Benson, who co-founded the former Cabletron Systems, once the . 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. Even after the pandemic hit, it continued to grow at a rate of over 100 units. The Fitness Center industry has over 111,000 businesses with a market size of $34 billion, and it supports over 800,000 jobs. Initial franchise fee: $30,000 to $50,000, Estimated total initial investment: $100,000 to $2 million. 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. Share. All told, their gyms boast over 14 million members worldwide. ASK QUESTIONS ABOUT THE FRANCHISE, Distributorship Opportunities For Business, the terms of -In thousands and rounded; represents electronic funds presented for draft for the 12 months of calendar year 2019 and 2020, respectively. 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. Planet Fitness Franchise Owners Contact List 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. 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 Franchise. Have questions? [7] They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. 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. Estimated total initial investment: $303,000 to $499,850. Our partners cannot pay us to guarantee favorable reviews of their products or services. [6], In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. 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. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. Even more reason to consider investing in a gym franchise? This FREE 10-part progressive program will help you get movin'. At that time, Michael Grondahl stepped down as CEO and Chris Rondeau took his place and has held the position since. 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. Initial term lengths last 10 years. Although gym franchises require that the owner has previous management experience, most dont require experience in the fitness industry. [34] The royalty fee for a Planet Fitness is 7% of the total gross monthly and annual membership fees. Mr. Fitzgerald began his career at PepsiCo, where he held various leadership roles in finance and planning. Annually Updated with New Owners of Planet Fitness Locations in the USA. 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. In this role, she oversees general HR operations, talent acquisition, leadership development, business partner support, culture and employee engagement, benefits and compensation. In her role as Division President, Corporate Clubs, Ms. Simmons will be responsible for leading the Company's Corporate Club portfolio including driving overall performance, leading and developing the team, and identifying strategic growth and expansion opportunities of the brand's corporate store fleet, which consists of more than 200 locations across 14 states and Canada. Over the last three years, the company has been expanding. Orange Theorys success is quite similar to Pelotons rise to fame. Planet Fitness is a profitable business for the franchisor, with retained earnings of $210 million in 2021. Planet Fitness businesses are fitness training facilities offering exercise machines and free weights, fitness training services, tanning services . 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. Thats why we put together this complete mailing/telemarketing list containing contact the names, phone numbers and physical addresses of business owners in the franchise system and certain former franchise operators. We now have: 2,400+ locations open (and we're just getting started!) Planet Fitness Franchise Cost and Requirements for 2023 - IFPG 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. There are very few reasons why one might want to open a Planet Fitness franchise. [25][26] The company went public on August 6, 2015. But perhaps most important to this process is interviewing current franchisees. The estimated total investment necessary to begin the operation of an Orange Theory Franchise ranges from $657,542 to $2,105,322. [49] [50], Since 2015, Planet Fitness has been a personal sponsor of NASCAR driver and champion Joey Logano. 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. LearningRx Franchise Corporation 5085 List Drive, #200 Colorado Springs, CO 80919 Phone: (719) 264-8808 Liz Anderson . 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. Prior to Potbelly, he served in varying executive roles at Charming Charlie Inc. including President and Chief Financial Officer, and Chief Administrative Officer. 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. Ms. Kaplan holds a B.S. Participants are given heart-rate monitors, and their results are displayed on screens throughout the room over the course of this hour-long, interval-based, coach-led workout. Thats why we put together this complete mailing/telemarketing list containing contact the names, phone numbers and physical addresses of business owners in the franchise system and certain former franchise operators. This routine is an 18-minute HIIT workout that targets cardio and endurance. service, Computer System. 4. 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. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. Then, the last four workouts in the program will take place in the gym and you'll learn how . They opened a new gym called Coastal Fitness and the Grondahls hired current CEO. All reactions: 8. 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. Planet Fitness franchise is one of the largest fitness US chains by a number of members and locations. [47] The contestants on the show worked out on Planet Fitness equipment and then at Planet Fitness gyms near their homes, working with Planet Fitness instructors. The Best Fitness Franchises You Can Buy - Trafft 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. Liquid Cash Requirement: $1,500,000. [54][55] Also in 2016, the company donated more than $1 million to the program. [14] Berks later went on to open the first Youfit Health Club in St. Petersburg, Florida. Planet Fitness - Wikipedia Franchise Owners Marketing Lists - Dataman Group Direct Even if your network of Planet Fitness franchises earns above $% a million, you will not be able to recover costs just by selling it. [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. Sherrill Kaplan joined Planet Fitness in June 2021 as Chief Digital Officer. 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. Initial investments: $969,600 - $4,242,500 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. 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. Initial franchise fee: $54,950 to $59,950, Estimated total initial investment: $563,529 to $999,121. She received her Bachelors degree from Eastern Connecticut State University. Our opinions are our own. 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. [32][33], Planet Fitness started franchising units in 2003. With that said, a Planet Fitness franchise . Our partners compensate us. $10,000, plus our reasonable out-of-pocket expenses, including external legal and administrative costs we incur in connection with the transfer. [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. Prior to that, she served as the Vice President of Digital Marketing & Innovation at Dunkin Brands where she was responsible for developing and marketing Dunkins digital platforms, including the DD Mobile app and the DD Perks loyalty program. | United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. We started our business in 1992 and refined our brand for a decade or so before franchising in 2003. In addition, he served as an online media manager for the University of Nevada, Reno. New franchise owners can also expect to participate in a comprehensive training program, as the franchise requires their franchisees to be certified barre instructors.