Edward Hymes joined Planet Fitness in January 2023 as President and Chief Operating Officer. 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. It is reported to be the nations fastest growing fitness center franchise. She received her Bachelors degree from Eastern Connecticut State University. [19] According to a Planet Money episode from 2014, "half of the Planet Fitness members don't ever go to their gyms. - In Saudi Arabia currency, the investment comes around SR 3,64 million to SR 15,91 million. Franchise Division including leading the operations, development and construction, vendor management and local marketing execution teams. [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. Kathy Gentilozzi joined Planet Fitness in 2019 as the Companys Chief People Officer. From the start, Planet Fitnesswas an inclusive, non-intimidating gym and in 1997, Planet Fitness officially unveiled its Judgement Free Zone philosophy. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. According to their website, Pure Barre is the oldest and most established barre studio out there. Classroom Training: 80 hours 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. Planet Fitness franchise is one of the largest fitness US chains by a number of members and locations. Craig Benson has rejoined the board of directors of Planet Fitness, a national gym chain based in Hampton in which he is a substantial franchisee and which uses software from a company that Benson partly owns, according to a Securities and Exchange Commission filing. Have questions? Youre about to cancel your subscription. service, Computer System. When evaluating offers, please review the financial institutions Terms and Conditions. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. 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. "[20] In 2003, Planet Fitness opened its first franchised location in Florida, with Eric Dore and Shane McGuiness. [22] In 2010, Men's Health magazine called Planet Fitness "the worst gym in America. [17], As part of their effort to create a non-intimidating environment, Planet Fitness has alienated many serious weight lifters. 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. Estimated total initial investment: $2,405 to $3,200. Mr. Rondeau also received an honorary doctorate degree from Philadelphia University and received the Universitys honorary innovation medal. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. Fitness centers have experienced sustained growth since the post-economic crisis in 2009. 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. Estimated annual transaction costs per location range from $9,000- $72,000, Equal to 50% of our then-current initial franchise fee. Performing this action will delete your account. This FREE 10-part progressive program will help you get movin'. 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. In this role, he has overall leadership and accountability of the brands primary revenue producing business segments, including U.S. and international franchise operations and development, equipment sales, and Corporate stores, in addition to both the technology and legal functions. Theyll provide you with a personal support team, comprehensive training, and marketing support over the course of your franchise agreements six-year term (or 10, if youre in California). Thanks to that near-legendary status in the fitness world, and their loyal customers. Both of these fitness companies, while they differ in business models, use your own fitness data and others to create a competitive atmosphere. 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. industry. 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). Find Accurate Contact Data for Fitness Franchise Owners. Planet Fitness franchisees also compete against other smaller gym and fitness business locations. But perhaps most important to this process is interviewing current franchisees. Estimated total initial investment: $304,500 to $2.1 million. Owner WIRED Telcom 159 W 1st Street Oswego, NY 13126 Phone: (315) 326-3350 . Orange Theory was ranked 49th in the franchise 500 rankings according to entrepreneur.com. He held multiple store operations positions with P&L responsibility progressing from Store Manager to Regional Manager. Throughout her tenure, she has held roles of increasing responsibility, with her most recent position being Vice President of National Marketing. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. Kick off your search with this list of nine of the most promising gym franchises to buy. Franchise Sales Manager Planet Fitness 4 Liberty Lane West Hampton, NH 03842 Phone: (603) 750-0001 Initial franchise fee: $54,950 to $59,950, Estimated total initial investment: $563,529 to $999,121. At that time, Michael Grondahl stepped down as CEO and Chris Rondeau took his place and has held the position since. 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. Planet Fitness estimates the costs to upgrade and/or remodel your facility will range from $70,000 to $600,000 every 5 years. 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. Annually Updated with New Owners of Planet Fitness Locations in the USA. Ms. Gentilozzi is a certified Senior Professional in Human Resources (SPHR). He joined Planet Fitness in 2016 as the Senior Vice President of Franchise Operations. The initial Planet Fitness Franchise Fee is $20,000. [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. Prior to joining Planet Fitness, Ms. Simmons worked in Finance and Business Planning roles for Timberland, PepsiCo, and Fisher Scientific International. Throughout his tenure at Dunkin Brands, Mr. Call (888) 977-4374. 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. Planet Fitness franchise is growing, and it is growing fast. [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. This could be an indicator that franchisees are doing really well. [7] They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. [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. Due Date: Expended according to Planet Fitness Methods of Operations as per your advertising budget. You'll also benefit from . [27], In February 2016, the franchise was added to the Franchise Times' "Fast and Serious" list of top franchises (No. In fact, in a recent Inc. 5000 list of the 10 fastest growing franchises, four were fitness franchises. It is important to talk to other franchisees and see what their costs were for leasehold improvements and construction. Initial franchise terms are 10 years. 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. Building in competition to workouts enhances ones motivation and keeps consumers coming back. Christine Aebischer is an assistant assigning editor on the small-business team at NerdWallet who has covered business and personal finance for nearly a decade. Net Worth Requirement: $3,000,000 However, the profit varies on your location also. This model has become extremely sticky in the fitness industry because while many people want to achieve their fitness goals, they innately lack motivation. "[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. They provide an affordable, high-quality fitness experience in a welcoming environment. 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. [10][7], Berks had started his own Planet Fitness gym in 1993 in Sunrise, Florida, and eventually expanded it to three clubs, along with a Gold's Gym franchise. Our research and analytics team analyzed over 120 franchise concept investment breakdowns in order to calculate this figure. [6], In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. In this role, he is responsible for all aspects of financial strategy and management. The initial Planet Fitness Franchise Fee is $20,000. Even though its smaller than Pure Barre. Mr. Fitzgerald began his career at PepsiCo, where he held various leadership roles in finance and planning. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. You will pay a lump-sum nonrefundable Initial Franchise Fee in the amount of $20,000 when you sign the Franchise Agreement. 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. 8. "[22], As early as March 2015, the "Judgement Free Zone" policy was expanded to allow trans women to use the women's locker room. The owner of the franchise (the franchisee) is expected to be involved in all aspects of day-to-day operations. Prior to that he served as the Chief Operating Officer since 2003. The Judgement Free Zone was started to help first-time gym users feel more comfortable starting their fitness journey. Prior to Planet Fitness, Ms. Gosselin worked at Dunkin Brands on the global public relations team. With that said, a Planet Fitness franchise . There are very few reasons why one might want to open a Planet Fitness franchise. 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. [49] [50], Since 2015, Planet Fitness has been a personal sponsor of NASCAR driver and champion Joey Logano. Training starts with one week at the companys San Francisco headquarters, followed up by three to six months of training, led by a dedicated trainer, in your home location. [16] Planet Fitness became known as the "Judgement Free Zone", aimed more at the average user than the bodybuilder type of fitness enthusiast. New franchise owners can also expect to participate in a comprehensive training program, as the franchise requires their franchisees to be certified barre instructors. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. Order now to get instant access to the complete Planet Fitness franchise owners. Headquarters: Hampton, New Hampshire. 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. In this role, he oversees the Companys accounting and treasury functions. However, this does not influence our evaluations. List to Contact Planet Fitness Franchise Owners - Planet Fitness Owners Contact List. 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 . 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. 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. Ms. Simmons has an MBA in Finance from the University of New Hampshire and holds dual Bachelors degrees in Economics and Sociology from Indiana University. The Initial Franchise Fee is uniform and non-refundable. 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. Office Depot, Planet Fitness, Roto Rooter, Starbucks, Taco Bell, Travelers, and United Health Group. 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. Pre-qualified offers are not binding. The following costs are part of the upfront costs included in the initial investment for Planet Fitness locations. Burn Boot Camp United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. You may need additional operating capital, or you may need it for a longer period of time. Ongoing Royalty Fee: $449 - $549/mo. 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. You are going to downgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. If you are thinking about how to open a Planet Fitness franchise, begin with a franchise investment information. All financial products, shopping products and services are presented without warranty. 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. He joined the Company as General Counsel in 2014 and played a critical role in the Companys initial public offering in August of 2015, and has since overseen all public company, corporate governance and franchising matters as a key member of the companys leadership team. Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). In this role, she is responsible for all aspects of the companys internal and external communications, including public relations, crisis management, executive communications, philanthropy, community relations and sustainability. Mr. ODonnell has nearly 20 years of experience in a variety of finance and accounting roles. Estimated total initial investment: $58,870 to $521,437. Find other similar franchises in our catalog! They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see the mustache commercial? If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. To open a gym, a franchisee must have a net worth of $3 million with a minimum of $1,500,000 in liquid assets. Based on a midpoint investment of $1,378,500 with estimated profits of $94,820 (10% profit margin) it would take about 15 years to recoup your investment. 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. Even after the pandemic hit, it continued to grow at a rate of over 100 units. 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. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. 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. 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. Upon your submission of your Construction Development Plans for our approval, Point of Sale Support, Processing and Account Management Services Fees, $149-$199 plus processing and credit card fees based on the number of transactions processed per month or number of eligible accounts enrolled in collections. Share. [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.
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