- In Saudi Arabia currency, the investment comes around SR 3,64 million to SR 15,91 million. 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. FranchiseComplaints.org This model has become extremely sticky in the fitness industry because while many people want to achieve their fitness goals, they innately lack motivation. 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. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. The most popular workout model from Snap Fitness is known as MYFIT. Be advised to match Planet Fitness franchise cost and profit by analyzing low and high fees you need to pay starting a Planet Fitness franchise. 6.4 miles away from Planet Fitness. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. 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. 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. In 2020, he joined the International Franchise Association (IFA) Board of Directors; board members are drawn from a world-class set of franchise brands. Headquarters: Hampton, New Hampshire. While at Dunkin Brands, he helped lead the technology team that rolled out mobile ordering across 9,000 locations. 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. Largest Planet Fitness Franchisee Group Acquired by New York Private 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. 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. PDF Together We Are Franchising Their website reads, We are not currently accepting new franchisee applications for US expansion.. That said, Orangetheory is designed for people of all fitness levels, since participants can go entirely at their own pace. 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. Planet Fitness Franchise Ownership FAQs - smallbiztrends.com As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. [28] It ranked in the top 50 of Entrepreneur magazine's Franchise 500 in 2017. Today the brand has over 2,000 locations system-wide. When evaluating offers, please review the financial institutions Terms and Conditions. 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. PF Independent Franchisee Council You will pay a lump-sum nonrefundable Initial Franchise Fee in the amount of $20,000 when you sign the Franchise Agreement. We believe everyone should be able to make financial decisions with confidence. Ongoing Royalty Fee: $449 - $549/mo. Sherrill Kaplan joined Planet Fitness in June 2021 as Chief Digital Officer. 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 Grondahls changed the gyms name to Planet Fitness in 1994. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. [27], In February 2016, the franchise was added to the Franchise Times' "Fast and Serious" list of top franchises (No. Throughout his tenure at Dunkin Brands, Mr. Then, the last four workouts in the program will take place in the gym and you'll learn how . The concept currently has over 1,000 franchises in the United States and another 150 international locations and is a subsidiary of Ultimate Fitness Holdings. The initial Planet Fitness Franchise Fee is $20,000. Pre-qualified offers are not binding. New franchise owners can also expect to participate in a comprehensive training program, as the franchise requires their franchisees to be certified barre instructors. However, this does not influence our evaluations. Previously, Mr. Fitzgerald served as Chief Administrative Officer of Sears Canada. PLANET FITNESS - 57 Photos & 19 Reviews - Yelp - In currency of Germany, the investment comes around EUR 805,430 to EUR 3,524,180. Youre about to cancel your subscription. Review the chart below to see how much it costs to buy a Planet Fitness franchise in 2022. 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. Robert Beaupre leads the SMB team at NerdWallet. Owning a UFC Gym means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. Here is a list of our partners. Estimated total initial investment: $2,405 to $3,200. It is reported to be the nations fastest growing fitness center franchise. The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. . [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. We offer detailed franchise research and contact data reports. Point of Sale System, and other Supplies, Your Out-of-Pocket Initial Training Expenses, Operating Cash (Additional Funds Pre-Opening and first six months), $7% of the total gross monthly and annual membership fees payable to you via EFT Dues Draft, Internet Membership and Balance Payment Administration Fee, Set according to our Methods of Operations, presently 55 per membership application or balance payment we process for your franchise location, Fees to Evaluate and Approve Alternative Suppliers, Our reasonable costs and expenses, which currently are expected to range between $1,000 and $5,000, although costs could greatly exceed those amounts depending on the product, Will var under the circumstances: estimated insurance premiums for your first year are $10,000 to $20,000. History of Planet Fitness in Timeline - Popular Timelines [7] They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. Corporate Governance - Management Team - Planet Fitness 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. Largest Planet Fitness Franchisee Acquires 19 Planet Fitness Clubs in For example, this includes replacing your cardio equipment every 5 years and replacing your non-cardio equipment every 7 years. Top Fitness Franchises to Check Out - Franchise How [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. Subscribe to our newsletters and keep up-to-date with the latest news in the franchise industry. All reactions: 8. Performing this action will delete your account. This document includes information about the franchises financial standing, capital requirements, franchisee training, and ongoing franchise fees, among other crucial information. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. Cash Required $1,500,000. 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. 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. Orange Theory was ranked 49th in the franchise 500 rankings according to entrepreneur.com. Estimated total initial investment: $58,870 to $521,437. Planet Fitness Announces 2019 Franchise Awards 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. [34] The royalty fee for a Planet Fitness is 7% of the total gross monthly and annual membership fees. So long as you are not decided on the fitness industry, we recommend you have a look at other offerings. An innovative entrepreneur, Mr. Rondeau was honored as an EY Entrepreneur of the Year and inducted into the UNH Alumni Entrepreneur Hall of Fame. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. [17], As part of their effort to create a non-intimidating environment, Planet Fitness has alienated many serious weight lifters. You must be logged in to view this form. 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. 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. Ms. Kaplan holds a B.S. SVP Communications and Corporate Social Responsibility, General Counsel and SVP, International Division. Golds Gym also requires that potential franchisees have a minimum of $1 million in net worth and $400,000 in liquid assets. We offer the most complete and most accurate mailing/telemarketing list for Planet Fitness franchise owners. She received her Bachelors degree from Eastern Connecticut State University. At Yum! 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. Planet Fitness Franchise "[20] In 2003, Planet Fitness opened its first franchised location in Florida, with Eric Dore and Shane McGuiness. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. As a result, she has played an instrumental role in the major strategic decisions made by the Company. 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. 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. 4 Liberty Ln. This influences which products we write about and where and how the product appears on a page. In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. Before the pandemic, it was growing at a rate of approximately 200 units a year, which is impressive. In addition, he served as an online media manager for the University of Nevada, Reno. Your experience may vary depending on whether you finance tenant improvements, your location, and other factors. 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. "[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. 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. Franchise Sales Manager Planet Fitness 4 Liberty Lane West Hampton, NH 03842 Phone: (603) 750-0001 Orange Theory Franchise was founded in Boca Raton, Florida in 2009. Initial investments: $969,600 - $4,242,500 Net Worth Requirement: $3,000,000 Liquid Cash Requirement: $1,500,000 Estimated Initial Investment This routine is an 18-minute HIIT workout that targets cardio and endurance. Due Date: Expended according to Planet Fitness Methods of Operations as per your advertising budget. in Pilates. 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. Start a Planet Fitness Franchise in 2023 - Entrepreneur [36], The company reports that as of 2019, there are 80 corporate-owned gyms, the rest independently owned and operated. 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. Planet Fitness Franchise (Costs + Fees + FDD) | Franchise Direct 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. 10 Qualities of Highly Successful Fitness Franchise Owners Initial Franchise Fee: $20,000 The estimated total investment necessary to begin the operation of a Planet Fitness Franchise ranges from $1,625,600 $4,921,000. . 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. These figures are estimates based on Planet Fitness and its affiliates experience in operating locations. 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. Ms. Medeiros received her Bachelors degree from the University of New Hampshire. Bill Bode serves as Division President, U.S. The Fitness Center industry has over 111,000 businesses with a market size of $34 billion, and it supports over 800,000 jobs. In this role, he is responsible for all aspects of financial strategy and management. 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. Justin Vartanian serves as General Counsel and SVP, International Division overseeing all legal matters and international development. Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing gym franchises in the United States. Even though its smaller than Pure Barre. 4. 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. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see the mustache commercial? Planet Fitness has more members and locations than any other fitness brand. 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. 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. Have questions? [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. In her role as Chief Brand Officer, she is responsible for leading Planet Fitness brand strategy and working collaboratively with agencies and across the organization to ensure the brand vision comes to life through national and local marketing strategy, creative, brand marketing sponsorships and activations, and social media. 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.
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