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. [49] [50], Since 2015, Planet Fitness has been a personal sponsor of NASCAR driver and champion Joey Logano. 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. 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. The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. The Area Development Fee is uniform and non-refundable. Franchise Division including leading the operations, development and construction, vendor management and local marketing execution teams. 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 [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. In this role, he will lead the Companys technology evolution and strategy, focused on delivering technology solutions that will continue to enhance the member experience while optimizing infrastructure, data and operations for flexibility and scale. Initial investments: $969,600 - $4,242,500
You'll build confidence while increasing your fitness knowledge. Our research and analytics team analyzed over 120 franchise concept investment breakdowns in order to calculate this figure. The difficult part of this step of the franchise buying due diligence process lies in obtaining a current list of Planet Fitness franchise owners. 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. All financial products, shopping products and services are presented without warranty. [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. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. 1),[16] and in its 2016 ranking of franchises, Forbes magazine ranked Planet Fitness No. Co-founder, Elle Latham, decided to open a gym to implement her personally designed workout, which eventually became the basis for Orange Theorys system. Franchising began one year later, and today Orange Theory studios can be found in 18 countries, and across 49 states. Find Accurate Contact Data for Fitness Franchise Owners. To open a gym, a franchisee must have of $3 million with $1,500,000 in liquid assets. In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. Orange Theory Franchise was founded in Boca Raton, Florida in 2009. 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. Prior to joining Dunkin' Brands, he was a Dunkin' Donuts franchisee in Richmond, VA. Tom Fitzgerald joined Planet Fitness in 2020 as the Companys Chief Financial Officer. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. Its also a good idea to reach out to at least a few former Planet Fitness franchisees to find out why they left or were terminated from the franchise system. We reviewed the larger franchise industry as well as selling price multiples for larger systems where more transaction data is available. 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. | United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. 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. Bode was also responsible for U.S brand compliance and business development along with leadership positions overseeing training, store development, marketing, and franchising. - In the United States, the total investment to start the Planet Fitness gym is around $969,600 to $4,242,500. The owner of the franchise (the franchisee) is expected to be involved in all aspects of day-to-day operations. Even more reason to consider investing in a gym franchise? Initial franchise terms are 10 years. 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. Mr. Fitzgerald began his career at PepsiCo, where he held various leadership roles in finance and planning. Over the last three years, franchises have opened at a rate of 148 units a year. She is based in Santa Monica, California. [39][29][40], In December 2014, Planet Fitness opened its first international location in Toronto, Ontario, Canada. Order now to get instant access to the complete Planet Fitness franchise owners. There are both advantages and disadvantages of franchising, so make sure you weigh both sides thoroughly. 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. At Yum! First, youll need to winnow down your list to only the gyms whose investment levels align with your financials, as well as your eligibility to secure franchise financing or gym financing. 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. [48], Since December 2014, Planet Fitness has been the official fitness sponsor of Dick Clark's New Year's Rockin' Eve on ABC. Planet Fitness offers people the opportunity to be a part of the fitness business, but we do not believe this is sustainable. Prior to Dunkin, she worked at various communications agencies in both Boston and Washington, DC on behalf of various leading retail brands. Headquarters: Hampton, New Hampshire. 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 We offer detailed franchise research and contact data reports. "[23], In the fall of 2013, TSG Consumer Partners LLC became an equity partner in the Planet Fitness franchise. This routine is an 18-minute HIIT workout that targets cardio and endurance. 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 partners cannot pay us to guarantee favorable reviews of their products or services. 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. 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, Golds Gym franchise has available markets in almost every state across the country, and select international opportunities. 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. - In currency of the United Kingdom, the investment comes around 694,900 to 3,040,600. Initial investments: $969,600 - $4,242,500 Net Worth Requirement: $3,000,000 Liquid Cash Requirement: $1,500,000 Estimated Initial Investment The minimum net worth required to own an Orange Theory franchise is $500,000 and the applicant must have liquid assets of at least $150,000. Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. 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.
Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. As a result, she has played an instrumental role in the major strategic decisions made by the Company. Benson, who co-founded the former Cabletron Systems, once the . Prior to Planet Fitness, Ms. Gosselin worked at Dunkin Brands on the global public relations team. You'll also benefit from . Even after the pandemic hit, it continued to grow at a rate of over 100 units. Your actual costs may be higher or lower depending on the size of your Planet Fitness business, the volume, and usage of your members, or changes in the market. 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. Ongoing Royalty Fee: $449 - $549/mo. Even if your network of Planet Fitness franchises earns above $% a million, you will not be able to recover costs just by selling it. 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. 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. Except for signage, Planet Fitness will not require substantial remodeling more often than every 5 years during the term of the Franchise Agreement. You must maintain the franchise premises according to Planet Fitness brand standards. The board of directors at Planet Fitness is as follows: Stephen Spinelli, Jr. (Ph.D.), Chairman Chris Rondeau (CEO) Bernard Acoca Enshalla Anderson Craig Benson Cammie Dunaway Frances Gregg Rathke Christopher Tanco 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. That said, Orangetheory is designed for people of all fitness levels, since participants can go entirely at their own pace. ASK QUESTIONS ABOUT THE FRANCHISE, Distributorship Opportunities For Business, the terms of
Estimated total initial investment: $303,000 to $499,850. Do not sell or share my personal information. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. Across 50 states the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia Planet Fitness (PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. 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. This large discrepancy indicates the potential different costs you could face when building your Orange Theory franchise as a franchisee. Greater of $60,000 or 7% of the total gross monthly membership fees payable to you via EFT in a quarter, and the greatest of $5,000 or 3% of the total gross monthly membership fees payable to you via EFT in a month. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. 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. The number of fitness franchise locations has been steadily increasing to a total of about 2,039. . If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Initial term lengths last 10 years. 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. 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. Brian ODonnell joined Planet Fitness in February 2016 and currently serves as VP, Chief Accounting Officer. 1. Share. Pre-qualified offers are not binding. 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. The total investment to open a Planet Fitness gym ranges from $728,290 - $3,777,800. The highest Planet Fitness franchise made over 3 million dollars in revenue, whereas the lowest earning one made $165,000. You have to pay this upfront fee when opening a Planet Fitness franchise. 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. Many of these are one-time fees that are needed to launch the franchise. The estimated total investment necessary to begin the operation of a Planet Fitness Franchise ranges from $1,625,600 $4,921,000. Cash Required $1,500,000. Previously, she served as Head of Marketing and Sales for Zipcar, the worlds leading car-sharing network, where she was a key member of the executive leadership team responsible for demand and revenue generation and all marketing functions. NerdWallet strives to keep its information accurate and up to date. - In Saudi Arabia currency, the investment comes around SR 3,64 million to SR 15,91 million. has opened over 4,000 locations on all seven continents. Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing gym franchises in the United States. 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. Join PFIFC 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. ? . Both within the fitness industry and American culture at large, Golds Gym has become legendary for their famous members (including Arnold Schwarzenegger) and their status as the mecca of bodybuilding. Since their founding by a Merchant Marine veteran in 1965, the Los Angeles-based gym has opened over 700 gyms in 29 states and 29 countries, and their international membership is 3 million devotees strong.