[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. 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. - In Malaysian currency, the investment comes around MYR 3,93 million to MYR 17,21 million. Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. Since their start in 2002, Anytime Fitness has opened over 4,000 locations on all seven continents. Franchise candidates can expect to pay anywhere between $354k to $1.2m. 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. 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. ", "Planet Fitness revokes woman's membership after transgender complaint", "Planet Fitness Has New Investor; Promotes Rondeau To CEO", "Former Radio Shack CFO Fills Planet Fitness Hole", "Planet Fitness goes public, hits mark in first day of trading", "Ranking America's Best And Worst Franchises: Which Are The Best Investments? - In the United States, the total investment to start the Planet Fitness gym is around $969,600 to $4,242,500. Performing this action will delete your account. The policy states that "members and guests may use all gym facilities based on their sincere self-reported gender identity. According to Franchise Direct, the initial franchise fee is $20,000, while the area development fee is $10,000. [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. 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. 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. 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. Pre-qualified offers are not binding. Chris Rondeau has served as the Chief Executive Officer of Planet Fitness since January 2013. With this purchase, which was for an undisclosed amount, United PF's club count has . Please confirm by clicking on the Cancel Subscriptionbutton below. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. 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. [51] In April 2022, Planet Fitness appeared as a sponsor on a race truck for the first time in the 2022 Pinty's Truck Race on Dirt with Logano driving the truck. The total investment ranges from $728,290 to $3,777,800. 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. This metric is the standard industry investment amount for a single unit franchise investment in this industry. Join PFIFC . Planet Fitness businesses are fitness training facilities offering exercise machines and free weights, fitness training services, tanning services . You must maintain your equipment according to Planet Fitness brand standards. Corporate Governance - Management Team - Planet Fitness 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. Disclaimer: NerdWallet strives to keep its information accurate and up to date. Sorry. The estimated total investment necessary to begin the operation of an Orange Theory Franchise ranges from $657,542 to $2,105,322. When evaluating offers, please review the financial institutions Terms and Conditions. Year Business Began: 1992. 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. Rated Excellent on TrustPilot with feedback from 50+ customers. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. 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. "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." 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. [28] It ranked in the top 50 of Entrepreneur magazine's Franchise 500 in 2017. [7] They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. Currently, the Planet Fitness franchise has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. West Hampton, NH 03842, USA, Interested? 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. Here is a list of our partners. Estimated total initial investment: $198,650 to $446,250. The Grondahls changed the gyms name to Planet Fitness in 1994. Prior to Planet Fitness, Ms. Gosselin worked at Dunkin Brands on the global public relations team. in Pilates. Get in touch with Planet Fitness Owners from around the US with verified contact data for all owners of all Planet Fitness locations. Franchise Owners Marketing Lists - Dataman Group Direct To open a gym, a franchisee must have of $3 million with $1,500,000 in liquid assets. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. According to their website, Pure Barre is the oldest and most established barre studio out there. Planet Fitness franchise opportunities are proven by 1,500 clubs successfully operating worldwide. 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. [6], In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. Franchising began one year later, and today Orange Theory studios can be found in 18 countries, and across 49 states. Even after the pandemic hit, it continued to grow at a rate of over 100 units. 8. 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? This, too, is best evaluated with the help of an accountant or business lawyer, who can help you break down the fine print. 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). The estimated total investment necessary to begin the operation of a Planet Fitness Franchise ranges from $1,625,600 $4,921,000. Ms. Medeiros has been instrumental in developing and refining Planet Fitness marketing strategy and differentiated Judgement Free positioning in the fitness industry. [15], Rondeau and the Grondahls recognized that there was a greater opportunity to serve a much larger segment of the population if they changed the gym environment, both in attitude and format, by creating a non-intimidating, low-cost model. Orange Theory Franchise was founded in Boca Raton, Florida in 2009. The Best Fitness Franchises You Can Buy - Trafft The name came from his daughter's school project, "Fitness Planet". Even more reason to consider investing in a gym franchise? "[23], In the fall of 2013, TSG Consumer Partners LLC became an equity partner in the Planet Fitness franchise. 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. Currently, the. Building in competition to workouts enhances ones motivation and keeps consumers coming back. The fitness center industry has grown with the rise in disposable income and demand for a more health-conscious lifestyle among millennials. The total investment to open a Planet Fitness gym ranges from $728,290 - $3,777,800. ", "2017 Top Franchises from Entrepreneur's Franchise 500 List", "Planet Fitness members outraged over March bill amid coronavirus closures", "Planet Fitness CEO says gym visits are holding up against the omicron variant", "Planet Fitness Seeing Minimal Impact So Far From Omicron", "Planet Fitness Franchise (Costs + Fees + FDD)", "Planet Fitness Franchise Costs & Fees, Planet Fitness FDD & Franchise Information | FranchiseDirect.com", "Planet Fitness Franchise Cost & Fees | How To Open | Opportunities And Investment Information", "Planet Fitness Prices & Membership Cost", "17 January Gym Discounts That Are Too Cheap to Pass Up", "Planet Fitness is raising the price of its Black Card membership but still offers a $10 option", "American gym powerhouse chooses Brampton for first suburban Canadian location", "Cheap 'n' cheerful chinups: Canada welcomes Planet Fitness, the $10 gym for those bad at gym", "Planet Fitness Continues International Expansion in Dominican Republic", "Planet Fitness opens first Hawaii location at Ala Moana Center", "10 Million Reasons to Get Pumped About Planet Fitness", "Planet Fitness to Sponsor 'The Biggest Loser', "50 Cent and Joan Rivers Kick It At The Gym [PHOTOS]", "Planet Fitness To Launch New Global Campaign On New Year's Eve", "Planet Fitness sponsors New Year's Eve celebration despite pandemic", "David Gilliland Racing Fielding Fourth Entry for Joey Logano in Bristol Dirt Race", "The Judgement Free Zone: Judgement Free Generation Video Contest", "Planet Fitness Opens In Fremont, Donates $1K To Boys & Girls Club", "Planet Fitness 'Judgment Free Zones' a Model of Inclusion", "Planet Fitness Anti-Bullying Initiative $1M Success", "Planet Fitness debuts fitness room for kids at Boys and Girls Club in Manchester", "Planet Fitness Opens Judgement Free Gym at Pasadena Boys and Girls Club", "Planet Fitness raises $1M for Boys and Girls Clubs of America", "Planet Fitness named national gym sponsor of 'The Biggest Loser', https://en.wikipedia.org/w/index.php?title=Planet_Fitness&oldid=1142494313, Companies based in Rockingham County, New Hampshire, Companies listed on the New York Stock Exchange, Health care companies established in 1992, Medical and health organizations based in New Hampshire, Short description is different from Wikidata, All Wikipedia articles written in American English, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 2 March 2023, at 18:29. But buying into a gym franchise is a less risky venture than building a gym from the ground up. Golds Gym also requires that potential franchisees have a minimum of $1 million in net worth and $400,000 in liquid assets. 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. Due Date: Expended according to Planet Fitness Methods of Operations as per your advertising budget. [24] Michael Grondahl, co-founder of Planet Fitness stepped down as CEO, and was succeeded by Chris Rondeau. The owner of the franchise (the franchisee) is expected to be involved in all aspects of day-to-day operations. Wed recommend meeting with your bank or accountant to help you determine which franchise is financially doable for you right now. Ms. Kaplan has over 20 years of experience, most recently serving as Global Marketing Operations Advisor for Advent International, a global private equity firm. The most popular workout model from Snap Fitness is known as MYFIT. All financial products, shopping products and services are presented without warranty. The Area Development Fee is uniform and non-refundable. Planet Fitness Franchise Cost & Opportunities 2023 | Franchise Help Planet Fitness growth continued over the next decade and in 2013, TSG Consumer Partners, LLC became an equity partner in the Planet Fitness franchise. 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. The Planet Fitness franchise was founded in 1992 and has been franchising since 2003. [34] The royalty fee for a Planet Fitness is 7% of the total gross monthly and annual membership fees. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see. Franchise. These numbers indicate that potential earnings can vary significantly, and it depends on factors such as locations and how well the business is run. In other words, franchising takes most of the heavy lifting off your shoulders. 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. 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. This influences which products we write about and where and how the product appears on a page. With that said, a Planet Fitness franchise . In this role, he oversees the Companys accounting and treasury functions. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. Their website reads, We are not currently accepting new franchisee applications for US expansion.. Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). Orange Theory was ranked 49th in the franchise 500 rankings according to entrepreneur.com. After a few years of growth, Planet Fitness started franchising in 2003 with the first franchised gym opened in Florida. Founded in 1992 in Dover, N.H., Planet Fitness is now the fastest-growing full size health club franchise in the United States, and has revolutionized the industry with a combination of extremely . Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. So long as you are not decided on the fitness industry, we recommend you have a look at other offerings. 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. 4 Liberty Ln. [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. At that time, Michael Grondahl stepped down as CEO and Chris Rondeau took his place and has held the position since. Review the chart below to see how much it costs to buy a Planet Fitness franchise in 2022. [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. [49] [50], Since 2015, Planet Fitness has been a personal sponsor of NASCAR driver and champion Joey Logano. Both of these fitness companies, while they differ in business models, use your own fitness data and others to create a competitive atmosphere. Find Accurate Contact Data for Fitness Franchise Owners. 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. This routine is an 18-minute HIIT workout that targets cardio and endurance. Subscribe to our newsletters and keep up-to-date with the latest news in the franchise industry. Lead Assigning Editor | Small business finances, investing, banking. Share. The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. 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. Compared to $145 million in 2020, they saw an increase of 44% from 2020 to 2021. [36], The company reports that as of 2019, there are 80 corporate-owned gyms, the rest independently owned and operated. 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. Planet Fitness has more members and locations than any other fitness brand. Throughout his tenure at Dunkin Brands, Mr. Office Depot, Planet Fitness, Roto Rooter, Starbucks, Taco Bell, Travelers, and United Health Group. Do not sell or share my personal information. Fitness centers have experienced sustained growth since the post-economic crisis in 2009. Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing gym franchises in the United States. Prior to that he served as the Chief Operating Officer since 2003. Previously, she was an editor at Fundera, where she developed service-driven content on topics such as business lending, software and insurance. 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. 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. [39][29][40], In December 2014, Planet Fitness opened its first international location in Toronto, Ontario, Canada. Pre-qualified offers are not binding. He joined Planet Fitness in 2016 as the Senior Vice President of Franchise Operations. However, this ultra-famous franchise is the most expensive on this list, with an estimated upfront investment potentially reaching over $5 million.