It offers classes for dance, aqua, cycle, box, pilates, and many more. Owning a fitness franchise is a fantastic way to enter into the multi-billion dollar fitness industry. Initial investments: $969,600 - $4,242,500
Over the last three years, the company has been expanding. New franchise owners can also expect to participate in a comprehensive training program, as the franchise requires their franchisees to be certified barre instructors. Participants are given heart-rate monitors, and their results are displayed on screens throughout the room over the course of this hour-long, interval-based, coach-led workout. The number of fitness franchise locations has been steadily increasing to a total of about 2,039. . 1- Based on a midpoint investment of $3,273,300 with estimated profits of $77,293 at a 5% profit margin it would take about 42 years to recoup your investment. Previously, she was an editor at Fundera, where she developed service-driven content on topics such as business lending, software and insurance. [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.
In this role, she oversees general HR operations, talent acquisition, leadership development, business partner support, culture and employee engagement, benefits and compensation. Planet Fitness growth continued over the next decade and in 2013, TSG Consumer Partners, LLC became an equity partner in the Planet Fitness franchise. You'll also benefit from . 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. At that time, Michael Grondahl stepped down as CEO and Chris Rondeau took his place and has held the position since. At the moment we can not connect you to the representative of this franchise. "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." According to their website, Pure Barre is the oldest and most established barre studio out there. All financial products, shopping products and services are presented without warranty. [39][29][40], In December 2014, Planet Fitness opened its first international location in Toronto, Ontario, Canada. For example, this includes replacing your cardio equipment every 5 years and replacing your non-cardio equipment every 7 years. Although gym franchises require that the owner has previous management experience, most dont require experience in the fitness industry. Ms. Gentilozzi is a certified Senior Professional in Human Resources (SPHR). Mr. Rondeau joined Planet Fitness in 1993, working the front desk at the very first location in Dover, NH, one year after the original founders, Michael and Marc Grondahl, started the Company in 1992. You must pay a supplemental fee of $5,000, per location remaining to be developed, plus our reasonable out-of-pocket expenses, including external legal and administrative costs we incur in connection with the transfer. $10,000, plus our reasonable out-of-pocket expenses, including external legal and administrative costs we incur in connection with the transfer. Edward Hymes joined Planet Fitness in January 2023 as President and Chief Operating Officer. Initial term lengths last 10 years. Throughout the years, Chris played a critical role in developing and refining the unique, low-cost/high-value business model and lean operating system that revolutionized both the fitness and franchising industry. Orange Theorys success is quite similar to Pelotons rise to fame. The initial Planet Fitness Franchise Fee is $20,000. Franchise Sales Manager Planet Fitness 4 Liberty Lane West Hampton, NH 03842 Phone: (603) 750-0001 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. 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. Absentee Ownership Allowed, Planet Fitness Franchise Info: https://www.planetfitness.com. 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. Overall, Planet Fitness is making a decent amount of profit, and we also see that the profit chart . Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. The total investment ranges from $728,290 to $3,777,800. Jennifer Simmons joined Planet Fitness in 2013 as a business analyst, later joining the executive leadership team as Senior Vice President of Business Strategy and Analytics and in 2022 was named Division President, Corporate Clubs. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. 4. The Planet Fitness initial franchise fee is $20,000. Franchise Division including leading the operations, development and construction, vendor management and local marketing execution teams. Gathering all available information about each potential franchise will help you land on the gym that not only works for you financially, but that also resonates with your lifestyle and values. 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. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. 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. Compared to $145 million in 2020, they saw an increase of 44% from 2020 to 2021. The following costs are part of the upfront costs included in the initial investment for Planet Fitness locations. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. Even if your network of Planet Fitness franchises earns above $% a million, you will not be able to recover costs just by selling it. Planet Fitness is a profitable business for the franchisor, with retained earnings of $210 million in 2021. Mr. Fitzgerald has over 30 years of leadership experience in financial management in the retail industry, most recently serving as Chief Financial Officer and Senior Vice President at Potbelly Sandwich Works. [11][12] Berks had been catering to the bodybuilding culture in his Gold's Gym. Airfare, ground transportation, meals, lodging, Government agencies and bonding companies, Payroll, debt services, ongoing pre-sale/grand opening marketing, and cash to cover miscellaneous day-to-day expenses, Estimated Selling Price = Net Sales * 0.67, Estimated Selling Price = Net Sales * 1.21. Planet Fitness has more members and locations than any other fitness brand. Have questions? Now, youd be hard-pressed to find a gym franchise that doesnt offer some form of barre class, but owning a Pure Barre franchise takes you straight to the source. Once you start operating your Pure Barre location, youll be responsible for a monthly royalty fee of 7% of gross sales and a 1% monthly marketing fee. The name came from his daughter's school project, "Fitness Planet". Looks like your subscription is due. You have to pay this upfront fee when opening a Planet Fitness franchise. Your actual costs may be higher or lower depending on the size and location of your Planet Fitness business. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. 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. 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. Pre-qualified offers are not binding. Paid by you to advertisers or Planet Fitness if it elects to collect from you. This is a good indication of high growth as a company overall. NerdWallet strives to keep its information accurate and up to date. Then, the last four workouts in the program will take place in the gym and you'll learn how . Lead Assigning Editor | Small business finances, investing, banking. Owning a UFC Gym means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. Performing this action will delete your account. Due Date: Paid monthly and annually. Planet Fitness Franchise Owners Contact List $ 149 Add to cart; GNC Franchisee Owners List $ 129 - $ 179 Select options; Club Pilates Franchisee Owners List $ 99 Add to cart; Golds Gym Franchisee Owners List Orange Theory is currently headquartered in Boca Raton, FL, and is run by its CEO Dave Long who previously served as the main developer and owner of the European Wax Center. Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. - In currency of Germany, the investment comes around EUR 805,430 to EUR 3,524,180. Mr. ODonnell has nearly 20 years of experience in a variety of finance and accounting roles. Even after the pandemic hit, it continued to grow at a rate of over 100 units. 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. Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. Orangetheory Fitness provides a totally unique (and seriously hard) group workout experience. 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. 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. Brian ODonnell joined Planet Fitness in February 2016 and currently serves as VP, Chief Accounting Officer. Although gym franchises require that the owner has previous management experience, most dont require experience in the. 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 own and operate multiple Planet Fitness businesses in the same market area and LAF spending for them is combined. Building in competition to workouts enhances ones motivation and keeps consumers coming back. The difficult part of this step of the franchise buying due diligence process lies in obtaining a current list of Planet Fitness franchise owners. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see the mustache commercial? The prospects for growth and success within the industry and the Orange Theory brand itself, are extensive, and some markets continue to be available as they move forward with growing their presence across the country. Then, you will be in compliance with the LAF requirement if you spend an amount that satisfies the LAF obligations for all the Planet Fitness businesses in the aggregate. We started our business in 1992 and refined our brand for a decade or so before franchising in 2003. Investing in an Orange Theory franchise is an interesting opportunity, especially for individuals looking to make their way into the Fitness industry. Call (888) 977-4374. This document includes information about the franchises financial standing, capital requirements, franchisee training, and ongoing franchise fees, among other crucial information. [13] The new model was an effort to provide a fitness hub for everyday people. [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. Bringing Franchise Owners Together to Share and Grow. Estimated total initial investment: $1 million to $4.1 million. Join PFIFC Pure Barre has over 500 open locations across North America with tons of available studio markets in the U.S. By contacting current franchise owners and asking about their experience with the franchised business, the earnings and/or success thus far, training and support from the franchisor, Pla-FitFranchise, and whether or not they would buy the franchise again if they could do it all over again, you can learn what its really like to own a Planet Fitness business before you actually purchase a franchise. The highest Planet Fitness franchise made over 3 million dollars in revenue, whereas the lowest earning one made $165,000. The chain has over a thousand locations with over 400 units outside the US. from Boston University and an M.B.A. from the University of Denver, Daniels College of Business. Sorry. Franchise Description: Planet Fitness Franchising LLC is the franchisor.The ultimate parent company is Planet Fitness, Inc. Total Investment $728,290 - $3,777,800. [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. The 2019 Planet Fitness Franchise Awards were given to the following: Hall of Fame: Jeff & James Innocenti - PF Supreme Franchisee of the Year: Mike Turner & CJ Bouchard - Excel Fitness Operator of the Year: Steve Kindler, Jr. - National Fitness Partners Developer of the Year: Tim Kelleher - Taymax Group
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