Planet Fitness growth continued over the next decade and in 2013, TSG Consumer Partners, LLC became an equity partner in the Planet Fitness franchise. All told, their gyms boast over 14 million members worldwide. At the moment we can not connect you to the representative of this franchise. - In Canadian currency, the investment comes around Can$ 1,231,300 to Can$ 5,387,800. 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). If you are an individual with a passion for fitness and are willing to invest an amount ranging from $657,542 $2,105,322 or more, Orange Theory might be the right fit for you. Initial franchise fee: $54,950 to $59,950, Estimated total initial investment: $563,529 to $999,121. He began working at Shell in 2001, holding broad and diverse roles including strategy, business development, project management, and deal delivery. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. She played a pivotal role in creating breakthrough nation marketing campaigns that have built the brand over the past two decades, including iconic advertising campaigns like Lift Things and No Gymtimidation, along with pillar marketing sponsorships like the brands New Years Eve celebration in Times Square. Except for signage, Planet Fitness will not require substantial remodeling more often than every 5 years during the term of the Franchise Agreement. 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. You must maintain your equipment according to Planet Fitness brand standards. After a few years of growth, Planet Fitness started franchising in 2003 with the first franchised gym opened in Florida. Franchise candidates can expect to pay anywhere between $354k to $1.2m. The owner of the franchise (the franchisee) is expected to be involved in all aspects of day-to-day operations. - In Mexican currency, the investment comes around Peso 20,19 million to Peso 88,33 million. Under Rondeaus 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 Americas Best Franchises, Newsweek Best Customer Service, and Best Places to Work in New Hampshire. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see the mustache commercial? When you go to sell a Planet Fitness franchise based on the median multiple of .67 and net sales in 2021 of $1,545,877, it would sell for $1,035,737. 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. [41][42] In October 2015 the company opened their second international location in Santo Domingo, Dominican Republic. The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. This information may be different than what you see when you visit a financial institution, service provider or specific products site. Comment. [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. Planet Fitness Franchise Cost Worth the Profit? - Vetted Biz Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). Largest Planet Fitness Franchisee Group Acquired by New York Private Mind that the franchise requirements for sale could be different depending on the format and scope of business. 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. If you are thinking about how to open a Planet Fitness franchise, begin with a franchise investment information. [44][37] In 2016, over 90% of Planet Fitness locations were opened by existing franchise owners. We were opening our 5th store then. The Best Fitness Franchises You Can Buy - Trafft The estimated total investment necessary to begin the operation of a Planet Fitness Franchise ranges from $1,625,600 $4,921,000. PDF Together We Are Franchising Bill Bode serves as Division President, U.S. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. 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. You have to pay this upfront fee when opening a Planet Fitness franchise. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. In this role, she oversees general HR operations, talent acquisition, leadership development, business partner support, culture and employee engagement, benefits and compensation. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. 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. Planet Fitness | Judgement Free Zone | Gym and Fitness Club This information may be different than what you see when you visit a financial institution, service provider or specific products site. [16] Planet Fitness became known as the "Judgement Free Zone", aimed more at the average user than the bodybuilder type of fitness enthusiast. Throughout her tenure, she has held roles of increasing responsibility, with her most recent position being Vice President of National Marketing. 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. 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. Estimated total initial investment: $304,500 to $2.1 million. Before the pandemic, it was growing at a rate of approximately 200 units a year, which is impressive. They provide an affordable, high-quality fitness experience in a welcoming environment. Have questions? This is a good indication of high growth as a company overall. Here is a list of our partners. Find Accurate Contact Data for Fitness Franchise Owners. [47], In March 2013, Planet Fitness partnered with 50 Cent to sell his energy drink "Street King". . [35], The net worth requirement for a Planet Fitness franchise is $3,000,000, while the liquid cash requirement is $1,500,000. 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. Planet Fitness Independent Franchisee Council Join Us Today! However, this does not influence our evaluations. Initial franchise fee: $30,000 to $50,000, Estimated total initial investment: $100,000 to $2 million. Kathy Gentilozzi joined Planet Fitness in 2019 as the Companys Chief People Officer. 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. Even though its smaller than Pure Barre. 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. 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. Annually Updated with New Owners of Planet Fitness Locations in the USA. The chain has over a thousand locations with over 400 units outside the US. Fitness Franchisee Contact Lists - FranchiseComplaints.org Franchise Division including leading the operations, development and construction, vendor management and local marketing execution teams. Planet Fitness businesses are fitness training facilities offering exercise machines and free weights, fitness training services, tanning services . New franchise owners can also expect to participate in a comprehensive training program, as the franchise requires their franchisees to be certified barre instructors. 1,600+ locations open and we're just getting started! [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. 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. Benson is back on the board of Planet Fitness Paid Grace Period. For those looking to get started with a Planet Fitness franchise, it's important to factor in all of these costs so that you have a clear understanding of the total investment required. Prior to that he served as the Chief Operating Officer since 2003. 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. Owner WIRED Telcom 159 W 1st Street Oswego, NY 13126 Phone: (315) 326-3350 . 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. The initial Planet Fitness Franchise Fee is $20,000. Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing gym franchises in the United States. NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer Access|Licenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812, Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc. (CA resident license no. Even more reason to consider investing in a gym franchise? [56][57][58] Planet Fitness has also provided mini "Judgement Free Zone" gyms to Boys & Girls Clubs in Manchester, New Hampshire[59] and Pasadena, California. Currently, the Orangetheory franchise 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). Ms. Kaplan holds a B.S. However, this ultra-famous franchise is the most expensive on this list, with an estimated upfront investment potentially reaching over $5 million. 4 Liberty Ln. Prospective owners are asked to have a minimum net worth of $3 million and a minimum of $1,500,000 in liquid capital. Fitness centers have experienced sustained growth since the post-economic crisis in 2009. [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. . Planet Fitness Franchise | Cost, Fees & Earning Stats (2023) [6], In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. [54][55] Also in 2016, the company donated more than $1 million to the program. Franchise Description: Planet Fitness Franchising LLC is the franchisor.The ultimate parent company is Planet Fitness, Inc. Orange Theorys success is quite similar to Pelotons rise to fame. 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. The Area Development Fee is in addition to the then-current Initial Franchise Fee due for each location at the time the Franchise Agreement for that location is executed. Owning a UFC Gym means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. 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. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. He joined Planet Fitness in 2016 as the Senior Vice President of Franchise Operations. Prior to Planet Fitness, Ms. Gosselin worked at Dunkin Brands on the global public relations team. Annually Updated with New Owners of Planet Fitness Locations in the USA. 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 franchise has since modernized their routines and worked Pilates, yoga, hip hop, kickboxing, and strength training into their classes, which they claim can burn up to 800 calories in one hour. Ms. Kaplan has over 20 years of experience, most recently serving as Global Marketing Operations Advisor for Advent International, a global private equity firm. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training.