[6], In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. Even more reason to consider investing in a gym franchise? Additional Training: Ongoing training
Brian ODonnell joined Planet Fitness in February 2016 and currently serves as VP, Chief Accounting Officer. After establishing a strong reputation across the fitness industry, Latham decided to seek a larger challenge and transitioned from the study of physiology to owning a gym that implemented a business model that remains in place across all studios to this day: offering trainer-led group workout sessions, which are broken into intervals of cardiovascular and strength training. [61], In January 2020, Planet Fitness partnered with The Biggest Loser to be the official sponsor of the show's 2020 reboot.[62]. It is reported to be the nations fastest growing fitness center franchise. has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. Due Date: Expended according to Planet Fitness Methods of Operations as per your advertising budget. Currently, the Planet Fitness franchise has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. Franchise fee: one-time $10,000 for a 10-year renewable agreement. The fitness center industry is mainly divided into two groups, either a specialized fitness boutique or a full-scale gym with multiple amenities and services. According to their website, Pure Barre is the oldest and most established barre studio out there. The difficult part of this step of the franchise buying due diligence process lies in obtaining a current list of Planet Fitness franchise owners. 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. Thanks to that near-legendary status in the fitness world, and their loyal customers, Jazzercise has over 8,900 franchises across the country. Even after the pandemic hit, it continued to grow at a rate of over 100 units. 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. We offer detailed franchise research and contact data reports. Verizon Wireless, and Westin, just to name a very few. The Initial Franchise Fee is uniform and non-refundable. 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. [11][12] Berks had been catering to the bodybuilding culture in his Gold's Gym. [37], The club's two membership levels are $10 and $24.99 per month in the United states[38] and in Canada they charge $15 and $25 per month. For example, this includes replacing your cardio equipment every 5 years and replacing your non-cardio equipment every 7 years. In this role, he is responsible for all aspects of financial strategy and management. Prior to Planet Fitness, Ms. Gosselin worked at Dunkin Brands on the global public relations team. 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. means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. Franchising began one year later, and today Orange Theory studios can be found in 18 countries, and across 49 states. [52], In March 2016, Planet Fitness partnered with STOMP Out Bullying,[53] a national organization dedicated to bullying prevention, and the Boys & Girls Clubs of America to launch the company's national philanthropic initiative to address bullying, The Judgement Free Generation. In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. - In Philippine currency, the investment comes around Php 47,15 million to Php 206,34 million. This information may be different than what you see when you visit a financial institution, service provider or specific products site. 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. [36], The company reports that as of 2019, there are 80 corporate-owned gyms, the rest independently owned and operated. [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. [19] According to a Planet Money episode from 2014, "half of the Planet Fitness members don't ever go to their gyms. These figures are estimates based on Planet Fitness and its affiliates experience in operating locations. There are some units of Planet fitness franchisees making more than that or some making less than that. 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. Ms. Kaplan has over 20 years of experience, most recently serving as Global Marketing Operations Advisor for Advent International, a global private equity firm. He has covered financial topics as an editor for more than a decade. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Overall, Planet Fitness is making a decent amount of profit, and we also see that the profit chart . [48], Since December 2014, Planet Fitness has been the official fitness sponsor of Dick Clark's New Year's Rockin' Eve on ABC. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. He joined Planet Fitness in 2016 as the Senior Vice President of Franchise Operations. They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. You are going to downgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. [8][9][7] In 2002, they purchased the rights to the name Planet Fitness from Rick Berks and renamed their franchise. HAMPTON, N.H., Jan. 11, 2022 - Planet Fitness, Inc. (NYSE: PLNT ), one of the largest and fastest-growing franchisors and operators of fitness centers with more members than any other fitness brand, announced today it has signed a definitive agreement to acquire Sunshine Fitness Growth Holdings, LLC ("Sunshine Fitness"), a leading owner and 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. The chain has over a thousand locations with over 400 units outside the US. [17], As part of their effort to create a non-intimidating environment, Planet Fitness has alienated many serious weight lifters. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. You'll build confidence while increasing your fitness knowledge. is growing quickly: In 2018, The Bar Method saw a 118% growth rate. 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. Building in competition to workouts enhances ones motivation and keeps consumers coming back. in Pilates. According to Franchise Direct, the initial franchise fee is $20,000, while the area development fee is $10,000. 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. It offers classes for dance, aqua, cycle, box, pilates, and many more. "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." Initial investments: $969,600 - $4,242,500
Even if your network of Planet Fitness franchises earns above $% a million, you will not be able to recover costs just by selling it. Franchising Since: 2000. She is based in Santa Monica, California. 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. Owner WIRED Telcom 159 W 1st Street Oswego, NY 13126 Phone: (315) 326-3350 . | United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. Planet Fitness franchisees also compete against other smaller gym and fitness business locations. Mr. Rondeau also received an honorary doctorate degree from Philadelphia University and received the Universitys honorary innovation medal. Find Accurate Contact Data for Fitness Franchise Owners. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. 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. As a franchise owner, youll benefit from a proven business model, brand recognition, existing customer base, vendor network, and robust franchisee support system. 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. [32][33], Planet Fitness started franchising units in 2003. Planet Fitness franchise is one of the largest fitness US chains by a number of members and locations. The following costs are part of the upfront costs included in the initial investment for Planet Fitness locations. Review the chart below to see how much it costs to buy a Planet Fitness franchise in 2022. The Planet Fitness franchise sets itself apart from other gyms by being the "Judgement Free Zone" where everyone can feel comfo. 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 . Orangetheory Fitness provides a totally unique (and seriously hard) group workout experience. 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. According to their website, Pure Barre is the oldest and most established barre studio out there. Previously, she was an editor at Fundera, where she developed service-driven content on topics such as business lending, software and insurance. The name came from his daughter's school project, "Fitness Planet". 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. But buying into a gym franchise is a less risky venture than building a gym from the ground up. We now have: 2,400+ locations open (and we're just getting started!) 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. In this role, she oversees general HR operations, talent acquisition, leadership development, business partner support, culture and employee engagement, benefits and compensation. 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. There are tons of gym franchises seeking new location owners, but this list represents nine of the most promising gym franchises on the market right nowbased mainly on name recognition, growth rate, and franchisor support system. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. After you cover your startup costs, your total gross monthly take could greatly exceed your expectations, depending on how many memberships you sell. Sherrill Kaplan joined Planet Fitness in June 2021 as Chief Digital Officer. Disclaimer: NerdWallet strives to keep its information accurate and up to date. Before joining NerdWallet, he served as senior editorial manager of QuinStreet's insurance sites and managing editor of Insure.com. industry. ? You must maintain your equipment according to Planet Fitness brand standards. This, too, is best evaluated with the help of an accountant or business lawyer, who can help you break down the fine print. We got you! At the moment we can not connect you to the representative of this franchise. Planet Fitness ( PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. [16] Planet Fitness became known as the "Judgement Free Zone", aimed more at the average user than the bodybuilder type of fitness enthusiast. Call (888) . - In Saudi Arabia currency, the investment comes around SR 3,64 million to SR 15,91 million. Please scroll down for a partial list of franchise businesses. 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. 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. However, this does not influence our evaluations. Order now to get instant access to the complete Planet Fitness franchise owners. [7] They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. 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. 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. Pure to Joseph Pilates' original Reformer-based Contrology Method, but modernized with group read more. Ad Royalty Fee: $300/mo. LearningRx Franchise Corporation 5085 List Drive, #200 Colorado Springs, CO 80919 Phone: (719) 264-8808 Liz Anderson . Over the last three years, franchises have opened at a rate of 148 units a year. After a few years of growth, Planet Fitness started franchising in 2003 with the first franchised gym opened in Florida. We believe everyone should be able to make financial decisions with confidence. 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.