planet fitness franchise owners list

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. Franchise Description: Planet Fitness Franchising LLC is the franchisor.The ultimate parent company is Planet Fitness, Inc. 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. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. "[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. It offers classes for dance, aqua, cycle, box, pilates, and many more. The Planet Fitness franchise sets itself apart from other gyms by being the "Judgement Free Zone" where everyone can feel comfo. We believe everyone should be able to make financial decisions with confidence. To open a gym, a franchisee must have of $3 million with $1,500,000 in liquid assets. Mr. Fitzgerald has over 30 years of leadership experience in financial management in the retail industry, most recently serving as Chief Financial Officer and Senior Vice President at Potbelly Sandwich Works. "I decided I didn't want to deal with that crowd, so that's when I opened the original Planet Fitness club in Sunrise, Florida, in 1993." Annually Updated with New Owners of Planet Fitness Locations in the USA. In this role, she is responsible for driving our digital vision and strategy, including leading the continuous enhancement of our mobile app, with a focus on consumer engagement, loyalty and a differentiated omni-channel experience to accelerate Planet Fitness growth and success. 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. She has also held editing roles at LearnVest, a personal finance startup, and its parent company, Northwestern Mutual. Although gym franchises require that the owner has previous management experience, most dont require experience in the. 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. Prior to Sonus, he worked for more than 10 years in public accounting with both Deloitte and Touche and Arthur Andersen. You must maintain the franchise premises according to Planet Fitness brand standards. Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. All told, their gyms boast over 14 million members worldwide. According to their website, Pure Barre is the oldest and most established barre studio out there. If you are thinking about how to open a Planet Fitness franchise, begin with a franchise investment information. This investment is much higher than the industry standard of $253,000. 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 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. 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 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. Prior to joining Planet Fitness, Ms. Simmons worked in Finance and Business Planning roles for Timberland, PepsiCo, and Fisher Scientific International. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. Your experience may vary depending on whether you finance tenant improvements, your location, and other factors. Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. As can be seen, Planet Fitness stock has outpaced the S&P 500 by almost 2x. There are very few reasons why one might want to open a Planet Fitness franchise. 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 Currently, the Planet Fitness franchise has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. 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. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. 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. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see the mustache commercial? All reactions: 8. Franchise. 1. You'll also benefit from . You must be logged in to view this form. Prior to joining Planet Fitness, Mr. Vartanian was a corporate attorney at Devine Millimet. 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. Fitness centers have experienced sustained growth since the post-economic crisis in 2009. Now, We Own 22 Locations", "What your new gym doesn't want you to know", "Planet Fitness vs. the lunkheads: Why is a health club trying to alienate people who love to work out? 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. 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. LearningRx Franchise Corporation 5085 List Drive, #200 Colorado Springs, CO 80919 Phone: (719) 264-8808 Liz Anderson . Annually Updated with New Owners of Planet Fitness Locations in the USA. Find Accurate Contact Data for Fitness Franchise Owners. Planet Fitness Independent Franchisee Council Join Us Today! [25][26] The company went public on August 6, 2015. Planet Fitness competes in the Fitness market against big brand companies such as Orange Theory and Golds Gym. has opened over 4,000 locations on all seven continents. Initial franchise terms are 10 years. We also suggest that you speak to 3 5 Planet Fitness owners before opening one yourself. 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. 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. With this purchase, which was for an undisclosed amount, United PF's club count has . Initial Franchise Fee: $20,000 The estimated total investment necessary to begin the operation of an Orange Theory Franchise ranges from $657,542 to $2,105,322. 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. 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. 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. In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. [28] It ranked in the top 50 of Entrepreneur magazine's Franchise 500 in 2017. Net Worth Requirement: $3,000,000 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 [4], In October 2011, Planet Fitness reached an agreement with NBC to sponsor the network's reality show The Biggest Loser beginning with the 2012 season. This large discrepancy indicates the potential different costs you could face when building your Orange Theory franchise as a franchisee. From the start, Planet Fitnesswas an inclusive, non-intimidating gym and in 1997, Planet Fitness officially unveiled its Judgement Free Zone philosophy. "[20] In 2003, Planet Fitness opened its first franchised location in Florida, with Eric Dore and Shane McGuiness. - In Mexican currency, the investment comes around Peso 20,19 million to Peso 88,33 million. Call (888) . West Hampton, NH 03842, USA, Interested? 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. [24] Michael Grondahl, co-founder of Planet Fitness stepped down as CEO, and was succeeded by Chris Rondeau. 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. 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 Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. $10,000, plus our reasonable out-of-pocket expenses, including external legal and administrative costs we incur in connection with the transfer. 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 The graph below and the table that accompanies it depicts the total return to shareholders between 2015 and 2021 on Planet Fitness class A common stock relative to the performance of the S&P 500 Index and the Russell 2000. It is important to talk to other franchisees and see what their costs were for leasehold improvements and construction. [16] Planet Fitness became known as the "Judgement Free Zone", aimed more at the average user than the bodybuilder type of fitness enthusiast. The Judgement Free Zone was started to help first-time gym users feel more comfortable starting their fitness journey. Therefore, this may include substantial remodeling of your premises as frequently as every 5 years. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. 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. Over the last three years, the company has been expanding. [44][37] In 2016, over 90% of Planet Fitness locations were opened by existing franchise owners. Planet Fitness ( PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. [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. The Initial Franchise Fee is uniform and non-refundable. 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. [61], In January 2020, Planet Fitness partnered with The Biggest Loser to be the official sponsor of the show's 2020 reboot.[62]. 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. 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. . 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. We believe that this franchise is an option for those that are passionate about fitness and are willing to put in the hours to make the business run smoothly. 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. Golds Gym also requires that potential franchisees have a minimum of $1 million in net worth and $400,000 in liquid assets. Planet Fitness franchise is growing, and it is growing fast. And while our site doesnt feature every company or financial product available on the market, were proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward and free. New franchise owners can also expect to participate in a comprehensive training program, as the franchise requires their franchisees to be certified barre instructors. - In Canadian currency, the investment comes around Can$ 1,231,300 to Can$ 5,387,800. Orange Theory was ranked 49th in the franchise 500 rankings according to entrepreneur.com. 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. 1),[16] and in its 2016 ranking of franchises, Forbes magazine ranked Planet Fitness No. Initial term lengths last 10 years. 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. [8][9][7] In 2002, they purchased the rights to the name Planet Fitness from Rick Berks and renamed their franchise. 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. If a fitness business with a franchise sounds good, heres nine of the most promising options for a gym franchise. [11][12] Berks had been catering to the bodybuilding culture in his Gold's Gym. * 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. The second Toronto location opened in early 2015. The name came from his daughter's school project, "Fitness Planet". They opened a new gym called Coastal Fitness and the Grondahls hired current CEO. 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. [60], In October 2017, Planet Fitness and its members raised $1 million which it donated to the non-profit Boys and Girls Clubs of America. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. Office Depot, Planet Fitness, Roto Rooter, Starbucks, Taco Bell, Travelers, and United Health Group. NerdWallet strives to keep its information accurate and up to date. Franchising Since: 2000. The following costs are part of the upfront costs included in the initial investment for Planet Fitness locations. Bill Bode serves as Division President, U.S. 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. 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. Disclaimer: NerdWallet strives to keep its information accurate and up to date. Year Business Began: 1992. - In currency of the United Kingdom, the investment comes around 694,900 to 3,040,600. Except for signage, Planet Fitness will not require substantial remodeling more often than every 5 years during the term of the Franchise Agreement. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. Looks like your subscription is due. [41][42] In October 2015 the company opened their second international location in Santo Domingo, Dominican Republic. - In Saudi Arabia currency, the investment comes around SR 3,64 million to SR 15,91 million. After you cover your startup costs, your total gross monthly take could greatly exceed your expectations, depending on how many memberships you sell. 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. 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. List to Contact Planet Fitness Franchise Owners - Planet Fitness Owners Contact List. 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. Across 50 states the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia 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. 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. Planet Fitness franchise opportunities are proven by 1,500 clubs successfully operating worldwide. This metric is the standard industry investment amount for a single unit franchise investment in this industry. Additional Training: Ongoing training Assistant Assigning Editor | Small-business finance, personal finance. 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. Order now to get instant access to the complete Planet Fitness franchise owners. Ultimately, the only way to know which gym franchise is right for you is to do your own due diligence. The most popular workout model from Snap Fitness is known as MYFIT. Bode was also responsible for U.S brand compliance and business development along with leadership positions overseeing training, store development, marketing, and franchising. The total investment ranges from $728,290 to $3,777,800. [17], As part of their effort to create a non-intimidating environment, Planet Fitness has alienated many serious weight lifters. 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. Our opinions are our own. Comment. JLM Financial Partners, Austin, Texas, and Eagle Merchant Partners, Atlanta . You may need additional operating capital, or you may need it for a longer period of time. 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. Ms. Medeiros has been instrumental in developing and refining Planet Fitness marketing strategy and differentiated Judgement Free positioning in the fitness industry. Even though its smaller than Pure Barre, The Bar Method franchise is growing quickly: In 2018, The Bar Method saw a 118% growth rate. [47], In March 2013, Planet Fitness partnered with 50 Cent to sell his energy drink "Street King". However, this ultra-famous franchise is the most expensive on this list, with an estimated upfront investment potentially reaching over $5 million. Since their start in 2002, Anytime Fitness has opened over 4,000 locations on all seven continents. The difficult part of this step of the franchise buying due diligence process lies in obtaining a current list of Planet Fitness franchise owners. According to Franchise Direct, the initial franchise fee is $20,000, while the area development fee is $10,000. 4 Liberty Ln. Franchise candidates can expect to pay anywhere between $354k to $1.2m. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. Throughout his tenure at Dunkin Brands, Mr. As a franchise owner, youll benefit from a proven business model, brand recognition, existing customer base, vendor network, and robust franchisee support system. Orange Theory uses your heart rate to show your exertion potential compared to the maximal effort and compares you to your peers in classes. Classroom Training: 80 hours 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. We now have: 2,400+ locations open (and we're just getting started!) Planet Fitness estimates the costs to upgrade and/or remodel your facility will range from $70,000 to $600,000 every 5 years. But buying into a gym franchise is a less risky venture than building a gym from the ground up. These numbers indicate that potential earnings can vary significantly, and it depends on factors such as locations and how well the business is run. You must commit to opening a one or more PLANET FITNESS locations as a condition of acquiring area development rights, either yourself or through one or more entities in which you own 51% or more interest. From there, youll receive additional materials to help inform your decision, including the all-important franchise agreement, including the franchise disclosure document (FDD). [54][55] Also in 2016, the company donated more than $1 million to the program. Call us direct at (855) 822-0912, Get Contact Details & Mailing List of Planet Fitness Franchisees, The difficult part of this step of the franchise buying due diligence. 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. The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. Mr. Barber holds a B.S. Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). Our partners cannot pay us to guarantee favorable reviews of their products or services. The initial Planet Fitness Franchise Fee is $20,000. 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. Your actual costs may be higher or lower depending on the size and location of your Planet Fitness business. If you own and operate multiple Planet Fitness businesses in the same market area and LAF spending for them is combined. Even more reason to consider investing in a gym franchise? Cash Required $1,500,000. [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 is a profitable business for the franchisor, with retained earnings of $210 million in 2021. The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. Planet Fitness Franchise Owners' Salary Your gross monthly take is based on your memberships, which range from $10 to $25 per month for the franchise. Estimated total initial investment: $304,500 to $2.1 million. Sherrill Kaplan joined Planet Fitness in June 2021 as Chief Digital Officer. You must maintain your equipment according to Planet Fitness brand standards. 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. Call (888) 977-4374. This information may be different than what you see when you visit a financial institution, service provider or specific products site. 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 Initial term lengths last 10 years. Now, youd be hard-pressed to find a gym franchise that doesnt offer some form of barre class, but owning a Pure Barre franchise takes you straight to the source. The total investment to open a Planet Fitness gym ranges from $728,290 - $3,777,800. [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. Pre-qualified offers are not binding. Subscribe to our newsletters and keep up-to-date with the latest news in the franchise industry. Orangetheory Fitness provides a totally unique (and seriously hard) group workout experience. is growing quickly: In 2018, The Bar Method saw a 118% growth rate. 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). 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. Franchising began one year later, and today Orange Theory studios can be found in 18 countries, and across 49 states. 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 . 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. Estimated total initial investment: $58,870 to $521,437. - In Malaysian currency, the investment comes around MYR 3,93 million to MYR 17,21 million. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. 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. Ms. Medeiros received her Bachelors degree from the University of New Hampshire. [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. There are both advantages and disadvantages of franchising, so make sure you weigh both sides thoroughly. 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. Burn Boot Camp Our partners compensate us.