In this role, he is responsible for all aspects of financial strategy and management. In this role, she oversees general HR operations, talent acquisition, leadership development, business partner support, culture and employee engagement, benefits and compensation. locations around the U.S. as well as Canada and the Dominican Republic. The chain has over a thousand locations with over 400 units outside the US. Prior to Potbelly, he served in varying executive roles at Charming Charlie Inc. including President and Chief Financial Officer, and Chief Administrative Officer. Planet Fitness Franchise Cost The estimated total investment necessary to begin the operation of a Planet Fitness Franchise ranges from $1,625,600 - $4,921,000. 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 has the franchise fee of up to $20,000, with total initial investment from $969,600. PDF Together We Are Franchising Rated Excellent on TrustPilot with feedback from 50+ customers. The following costs are part of the upfront costs included in the initial investment for Planet Fitness locations. 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. 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. ", "2017 Top Franchises from Entrepreneur's Franchise 500 List", "Planet Fitness members outraged over March bill amid coronavirus closures", "Planet Fitness CEO says gym visits are holding up against the omicron variant", "Planet Fitness Seeing Minimal Impact So Far From Omicron", "Planet Fitness Franchise (Costs + Fees + FDD)", "Planet Fitness Franchise Costs & Fees, Planet Fitness FDD & Franchise Information | FranchiseDirect.com", "Planet Fitness Franchise Cost & Fees | How To Open | Opportunities And Investment Information", "Planet Fitness Prices & Membership Cost", "17 January Gym Discounts That Are Too Cheap to Pass Up", "Planet Fitness is raising the price of its Black Card membership but still offers a $10 option", "American gym powerhouse chooses Brampton for first suburban Canadian location", "Cheap 'n' cheerful chinups: Canada welcomes Planet Fitness, the $10 gym for those bad at gym", "Planet Fitness Continues International Expansion in Dominican Republic", "Planet Fitness opens first Hawaii location at Ala Moana Center", "10 Million Reasons to Get Pumped About Planet Fitness", "Planet Fitness to Sponsor 'The Biggest Loser', "50 Cent and Joan Rivers Kick It At The Gym [PHOTOS]", "Planet Fitness To Launch New Global Campaign On New Year's Eve", "Planet Fitness sponsors New Year's Eve celebration despite pandemic", "David Gilliland Racing Fielding Fourth Entry for Joey Logano in Bristol Dirt Race", "The Judgement Free Zone: Judgement Free Generation Video Contest", "Planet Fitness Opens In Fremont, Donates $1K To Boys & Girls Club", "Planet Fitness 'Judgment Free Zones' a Model of Inclusion", "Planet Fitness Anti-Bullying Initiative $1M Success", "Planet Fitness debuts fitness room for kids at Boys and Girls Club in Manchester", "Planet Fitness Opens Judgement Free Gym at Pasadena Boys and Girls Club", "Planet Fitness raises $1M for Boys and Girls Clubs of America", "Planet Fitness named national gym sponsor of 'The Biggest Loser', https://en.wikipedia.org/w/index.php?title=Planet_Fitness&oldid=1142494313, Companies based in Rockingham County, New Hampshire, Companies listed on the New York Stock Exchange, Health care companies established in 1992, Medical and health organizations based in New Hampshire, Short description is different from Wikidata, All Wikipedia articles written in American English, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 2 March 2023, at 18:29. History of Planet Fitness in Timeline - Popular Timelines Lets get started. 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. Both of these fitness companies, while they differ in business models, use your own fitness data and others to create a competitive atmosphere. Headquarters: Hampton, New Hampshire. All told, their gyms boast over 14 million members worldwide. [25][26] The company went public on August 6, 2015. Initial Franchise Fee: $20,000 Planet Fitness businesses are fitness training facilities offering exercise machines and free weights, fitness training services, tanning services . has over 8,900 franchises across the country. At that time, Michael Grondahl stepped down as CEO and Chris Rondeau took his place and has held the position since. 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. Co-founder, Elle Latham, decided to open a gym to implement her personally designed workout, which eventually became the basis for Orange Theorys system. Our partners compensate us. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. That said, franchisees are responsible for additional costs, including a monthly continuing franchise fee (CFF) of either 20% of gross revenue or at least $250 per month. 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. Royalty fees and advertising fees are generally calculated as a percentage of gross sales in franchise agreements, but Anytime Fitness rates are flat from month to month, which makes it easier for you to plan and organize your expenses. Planet Fitness Franchise Cost and Requirements for 2023 - IFPG Your Royalty payment is currently based on the total gross monthly and annual membership fees for the, You must maintain your equipment according to, Your actual costs may be higher or lower depending on the size of your, You must maintain the franchise premises according to, Franchise Disclosure Document (FDD) Database, Your Lender; Approved Suppliers; Our Affiliate, Paid to various media companies and other third parties to promote the opening of your business, Computer System, Point of Sale System, and other Supplies, Utilities, banks/credit card companies, leased equipment vendors, alarm company, telephone company, Your Out-of-Pocket Initial Training Expenses. Estimated total initial investment: $303,000 to $499,850. All financial products, shopping products and services are presented without warranty. Mr. Rondeau also received an honorary doctorate degree from Philadelphia University and received the Universitys honorary innovation medal. - In currency of the United Kingdom, the investment comes around 694,900 to 3,040,600. has opened over 4,000 locations on all seven continents. The Judgement Free Zone was started to help first-time gym users feel more comfortable starting their fitness journey. So how do we make money? 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. The number of fitness franchise locations has been steadily increasing to a total of about 2,039. . As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. Estimated total initial investment: $304,500 to $2.1 million. Ms. Kaplan has over 20 years of experience, most recently serving as Global Marketing Operations Advisor for Advent International, a global private equity firm. 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. Thanks to that near-legendary status in the fitness world, and their loyal customers. 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. Initial franchise terms are 10 years. The name came from his daughter's school project, "Fitness Planet". 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. There are some units of Planet fitness franchisees making more than that or some making less than that. [36], The company reports that as of 2019, there are 80 corporate-owned gyms, the rest independently owned and operated. 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. This could be an indicator that franchisees are doing really well. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. 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. 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. Sorry. Robert Beaupre leads the SMB team at NerdWallet. With this purchase, which was for an undisclosed amount, United PF's club count has . The Initial Franchise Fee is uniform and non-refundable. is growing quickly: In 2018, The Bar Method saw a 118% growth rate. Review the chart below to see how much it costs to buy a Planet Fitness franchise in 2022. . You are going to upgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. [22] In 2010, Men's Health magazine called Planet Fitness "the worst gym in America. We believe that this franchise is an option for those that are passionate about fitness and are willing to put in the hours to make the business run smoothly. was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. When evaluating offers, please review the financial institutions Terms and Conditions. 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. Prior to joining Planet Fitness, Ms. Simmons worked in Finance and Business Planning roles for Timberland, PepsiCo, and Fisher Scientific International. [8][9][7] In 2002, they purchased the rights to the name Planet Fitness from Rick Berks and renamed their franchise. 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. Disclaimer: 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 . Plus, that smaller pool of franchisees means each one receives more personalized support from the company. Reaching out to multi-unit franchise owners and regional developers gives you the ability to get your products and services into many locations with just one sale . 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. On this Wikipedia the language links are at the top of the page across from the article title. You must maintain your equipment according to Planet Fitness brand standards. [13] The new model was an effort to provide a fitness hub for everyday people. 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. 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. Even if your network of Planet Fitness franchises earns above $% a million, you will not be able to recover costs just by selling it. Additional Training: Ongoing training 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. As can be seen, Planet Fitness stock has outpaced the S&P 500 by almost 2x. Estimated total initial investment: $58,870 to $521,437. In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. Kick off your search with this list of nine of the most promising gym franchises to buy. This is a good indication of high growth as a company overall. Planet Fitness franchise is growing, and it is growing fast. 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. The Best Fitness Franchises You Can Buy - Trafft [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. 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. To open a gym, a franchisee must have of $3 million with $1,500,000 in liquid assets. The second Toronto location opened in early 2015. That said, franchisees are responsible for additional costs, including a monthly continuing franchise fee (CFF) of either 20% of gross revenue or at least $250 per month. SVP Communications and Corporate Social Responsibility, General Counsel and SVP, International Division. At the moment we can not connect you to the representative of this franchise. 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. 4. 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. Planet Fitness | Judgement Free Zone | Gym and Fitness Club We offer detailed franchise research and contact data reports. The Planet Fitness initial franchise fee is $20,000. [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. Pure Barre has over 500 open locations across North America with tons of available studio markets in the U.S. [31], While Planet Fitness closed many facilities during the onset of the COVID pandemic, during the Delta and Omicron variants there was not a decrease in gym attendance. [34] The royalty fee for a Planet Fitness is 7% of the total gross monthly and annual membership fees. Planet Fitness offers people the opportunity to be a part of the fitness business, but we do not believe this is sustainable. 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. Planet Fitness - Wikipedia Planet Fitness Franchise (Costs + Fees + FDD) | Franchise Direct Planet Fitness Franchise Cost Worth the Profit? - Vetted Biz Earlier in her career, Ms. Kaplan held several digital and marketing leadership roles at global brands including American Express and Citi, Inc. She serves as an independent member of the Fiesta Restaurant Group Board of Directors, as well as the Massachusetts Innovation & Technology Exchange (MITX). Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. All financial products, shopping products and services are presented without warranty. Do not sell or share my personal information. 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. Estimated annual transaction costs per location range from $9,000- $72,000, Equal to 50% of our then-current initial franchise fee. The initial Planet Fitness Franchise Fee is $20,000. Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying.
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