planet fitness franchise owners list

9 Best Gym Franchises - NerdWallet 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. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. The Grondahls changed the gyms name to Planet Fitness in 1994. 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 difficult part of this step of the franchise buying due diligence process lies in obtaining a current list of Planet Fitness franchise owners. Of the total gross monthly and annual membership fees payable to you via EFT Dues Draft. As can be seen, Planet Fitness stock has outpaced the S&P 500 by almost 2x. The graph includes a comparison against the Russell because there is no industry benchmark or line-of-business index for the fitness industry or a peer group that is publicly traded. Please renew to keep using our services. - In currency of Germany, the investment comes around EUR 805,430 to EUR 3,524,180. 3- Based on a midpoint investment of $3,273,300 with estimated profits of $831,881 at a 15% profit margin, it would take about 14 years to recoup your investment. Mr. ODonnell has nearly 20 years of experience in a variety of finance and accounting roles. Across 50 states the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia [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. Bode was also responsible for U.S brand compliance and business development along with leadership positions overseeing training, store development, marketing, and franchising. United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. Orange Theory uses your heart rate to show your exertion potential compared to the maximal effort and compares you to your peers in classes. Gym franchises dont get much more classic than Jazzercise, the high-intensity, dance-cardio fusion class that became a fitness mainstay during the 80s exercise boom. Estimated total initial investment: $303,000 to $499,850. "[23], In the fall of 2013, TSG Consumer Partners LLC became an equity partner in the Planet Fitness franchise. FranchiseComplaints.org Here is a list of our partners. 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). 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. That said, Orangetheory is designed for people of all fitness levels, since participants can go entirely at their own pace. -In thousands and rounded; represents electronic funds presented for draft for the 12 months of calendar year 2019 and 2020, respectively. Orangetheory Fitness provides a totally unique (and seriously hard) group workout experience. Follow along as PF Trainer Teddy teaches you the basics of fitness, right in the comfort of your own home. - In the United States, the total investment to start the Planet Fitness gym is around $969,600 to $4,242,500. Share. Office Depot, Planet Fitness, Roto Rooter, Starbucks, Taco Bell, Travelers, and United Health Group. Orange Theory Franchise was founded in Boca Raton, Florida in 2009. [48], Since December 2014, Planet Fitness has been the official fitness sponsor of Dick Clark's New Year's Rockin' Eve on ABC. [47], In March 2013, Planet Fitness partnered with 50 Cent to sell his energy drink "Street King". Ms. Gentilozzi has more than 30 years of Human Resources leadership experience at national retail brands, most recently serving as Executive Vice President of Human Resources at FULLBEAUTY Brands where she led all HR initiatives to support 2,000 associates. Planet Fitness franchise costs, based on Item 7 of the company's 2022 FDD: Initial Franchise Fee: $20,000 Site Selection Costs: $0 to $10,000 Construction Development Plan Review Fee: $0 to $4,000 Leasehold Improvements: $1,250,000 to $2,163,000 Fitness Equipment: $34,000 to $953,000 Non-Fitness Equipment: $63,000 to $825,000 Pre-qualified offers are not binding. has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. 1 comment. The most popular workout model from Snap Fitness is known as MYFIT. Performing this action will delete your account. Estimated annual transaction costs per location range from $9,000- $72,000, Equal to 50% of our then-current initial franchise fee. Planet Fitness Franchise You have to pay this upfront fee when opening a Planet Fitness franchise. All financial products, shopping products and services are presented without warranty. The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. 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. 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. Start a Planet Fitness Franchise in 2023 - Entrepreneur 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 if your network of Planet Fitness franchises earns above $% a million, you will not be able to recover costs just by selling it. 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. 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. Planet Fitness - Wikipedia The Planet Fitness franchise was founded in 1992 and has been franchising since 2003. 4. We were opening our 5th store then. Annually Updated with New Owners of Planet Fitness Locations in the USA. Mr. Rondeau also received an honorary doctorate degree from Philadelphia University and received the Universitys honorary innovation medal. Therefore, this may include substantial remodeling of your premises as frequently as every 5 years. subject to maximum fee of $40,000, Concurrently with our granting a successor franchise to you, Actual costs (approximately $1,200 per visit), Cure Period Extension Fee (Franchise Agreement), Paid monthly via EFT on the day designated as your Monthly Membership Billing Day, as defined in our Franchise Agreement, Grace Period Fee (Area Development Agreement), Paid monthly beginning on the first day of the When evaluating offers, please review the financial institutions Terms and Conditions. Find Accurate Contact Data for Fitness Franchise Owners. 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. The fitness center industry has grown with the rise in disposable income and demand for a more health-conscious lifestyle among millennials. 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. Justin Vartanian serves as General Counsel and SVP, International Division overseeing all legal matters and international development. If you can name a franchise business, it's probably on our Franchise owners marketing list. History of Planet Fitness in Timeline - Popular Timelines If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Fitness franchises are currently booming with the largest franchises globally being Anytime Fitness and Planet Fitness. Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. process lies in obtaining a current list of Planet Fitness franchise owners. Many of these are one-time fees that are needed to launch the franchise. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. Planet Fitness Franchise Owners' Salary Your gross monthly take is based on your memberships, which range from $10 to $25 per month for the franchise. [41][42] In October 2015 the company opened their second international location in Santo Domingo, Dominican Republic. 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. 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. All initial fees are the same for both initial and conversion franchises. It offers classes for dance, aqua, cycle, box, pilates, and many more. 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. Depending on the location and pre-existing structure that is being purchased, you could see your expenditure being on the lower or higher end of this spectrum. At Jiffy Lube, he oversaw the strategic direction of the company, and managed franchise relationships to create a shared vision for the brand, drive network growth, and maintain Jiffy Lubes leading market share. Comment. There are some units of Planet fitness franchisees making more than that or some making less than that. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. 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. 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. Throughout his tenure at Dunkin Brands, Mr. industry. Throughout her tenure, she has held roles of increasing responsibility, with her most recent position being Vice President of National Marketing. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. Call (888) . 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. "[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. | United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. 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. Initial term lengths last 10 years. 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. In this role, he is responsible for all aspects of financial strategy and management. Franchising Since: 2000. Planet Fitness Franchise | Cost, Fees & Earning Stats (2023) According to their website, Pure Barre is the oldest and most established barre studio out there. 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. He began working at Shell in 2001, holding broad and diverse roles including strategy, business development, project management, and deal delivery. For example, this includes replacing your cardio equipment every 5 years and replacing your non-cardio equipment every 7 years. [34] The royalty fee for a Planet Fitness is 7% of the total gross monthly and annual membership fees. 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. 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. She has also held editing roles at LearnVest, a personal finance startup, and its parent company, Northwestern Mutual. Jamie Medeiros joined Planet Fitness in 2000, where she worked at the front desk in the Companys third location before transitioning to the Planet Fitness corporate marketing team. Subscribe to our newsletters and keep up-to-date with the latest news in the franchise industry. Currently, Golds Gym franchise has available markets in almost every state across the country, and select international opportunities. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. The total investment to open a Planet Fitness gym ranges from $728,290 - $3,777,800. Here is a list of our partners and here's how we make money. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. In this role, she is responsible for driving our digital vision and strategy, including leading the continuous enhancement of our mobile app, with a focus on consumer engagement, loyalty and a differentiated omni-channel experience to accelerate Planet Fitness growth and success. [8][9][7] In 2002, they purchased the rights to the name Planet Fitness from Rick Berks and renamed their franchise. With that said, a Planet Fitness franchise . They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. Prior to joining the Company, Mr. ODonnell most recently served as Vice President of Finance and Chief Accounting Officer at Sonus Networks. While this may be the business for you, make sure also to check out other companies offered on Vetted Biz and in the Fitness Industry. Chris Rondeau has served as the Chief Executive Officer of Planet Fitness since January 2013. [11][12] Berks had been catering to the bodybuilding culture in his Gold's Gym. 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. How Much Does A Planet Fitness Owner Make? - drfranchises.com 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. Overall, Planet Fitness is making a decent amount of profit, and we also see that the profit chart . Orange Theorys success is quite similar to Pelotons rise to fame. Before the pandemic, it was growing at a rate of approximately 200 units a year, which is impressive. Planet Fitness Franchise Cost & Fees | How To Open | Opportunities And PDF Together We Are Franchising With that accessible attitude in mind, Planet Fitness tries particularly to target the 80% of the American and Canadian population who dont have gym memberships. ", "Planet Fitness revokes woman's membership after transgender complaint", "Planet Fitness Has New Investor; Promotes Rondeau To CEO", "Former Radio Shack CFO Fills Planet Fitness Hole", "Planet Fitness goes public, hits mark in first day of trading", "Ranking America's Best And Worst Franchises: Which Are The Best Investments? Orange Theory was ranked 49th in the franchise 500 rankings according to entrepreneur.com. 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. It is important to talk to other franchisees and see what their costs were for leasehold improvements and construction. [16] Planet Fitness became known as the "Judgement Free Zone", aimed more at the average user than the bodybuilder type of fitness enthusiast. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. Mr. Hymes started his career at Kmart Corporation, where he worked his way up the ranks starting as an hourly store team member and entered management after graduating with a Marketing degree from Northwest Missouri State University. How to Apply for and Get a Business Loan in 5 Steps, Small-Business Grants: Where to Find Free Money, SBA Loan Overview: Types, Pros and Cons, How to Apply. Their website reads, We are not currently accepting new franchisee applications for US expansion.. 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 is one of the largest fitness US chains by a number of members and locations. Ms. Medeiros has been instrumental in developing and refining Planet Fitness marketing strategy and differentiated Judgement Free positioning in the fitness industry. 2% of the total gross monthly EFT Dues Draft. Initial franchise terms are 10 years. 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. Do not sell or share my personal information. Our research and analytics team analyzed over 120 franchise concept investment breakdowns in order to calculate this figure. [35], The net worth requirement for a Planet Fitness franchise is $3,000,000, while the liquid cash requirement is $1,500,000. They opened a new gym called Coastal Fitness and the Grondahls hired current CEO. 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. Benson, who co-founded the former Cabletron Systems, once the . This document includes information about the franchises financial standing, capital requirements, franchisee training, and ongoing franchise fees, among other crucial information. Our opinions are our own. "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." Previously, she served as Head of Marketing and Sales for Zipcar, the worlds leading car-sharing network, where she was a key member of the executive leadership team responsible for demand and revenue generation and all marketing functions. Due Date: Paid monthly and annually. [49] [50], Since 2015, Planet Fitness has been a personal sponsor of NASCAR driver and champion Joey Logano. Estimated total initial investment: $1 million to $4.1 million. Assistant Assigning Editor | Small-business finance, personal finance. Franchising | Planet Fitness According to Franchise Direct, the initial franchise fee is $20,000, while the area development fee is $10,000. has opened over 4,000 locations on all seven continents. Planet Fitness Announces 2019 Franchise Awards This influences which products we write about and where and how the product appears on a page. The franchise has since modernized their routines and worked Pilates, yoga, hip hop, kickboxing, and strength training into their classes, which they claim can burn up to 800 calories in one hour. According to their website, Pure Barre is the oldest and most established barre studio out there. If you are thinking about how to open a Planet Fitness franchise, begin with a franchise investment information. - In Canadian currency, the investment comes around Can$ 1,231,300 to Can$ 5,387,800. 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. The Initial Franchise Fee is uniform and non-refundable. [6], In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. Wed recommend meeting with your bank or accountant to help you determine which franchise is financially doable for you right now. 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. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. [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 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. 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. Our partners compensate us. Now, We Own 22 Locations", "What your new gym doesn't want you to know", "Planet Fitness vs. the lunkheads: Why is a health club trying to alienate people who love to work out? So how do we make money? So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. Golds Gym also requires that potential franchisees have a minimum of $1 million in net worth and $400,000 in liquid assets. The Planet Fitness initial franchise fee is $20,000. 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. Paid by you to advertisers or Planet Fitness if it elects to collect from you. Ms. Gosselin was named a Top Woman in PR by PR News in 2020. 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). Greater of $15,000 or 7% of the total gross quarterly EFT Dues Draft, Expended quarterly according to our Methods of Operations as per your advertising budget, Varies, maximum of 9% total gross monthly EFT Dues Draft, Our actual costs, which may range from $3,000 to $15,000. This is significantly lower than the midpoint investment of $3,273,500. Please scroll down for a partial list of franchise businesses. You have to pay this upfront fee when opening a Planet Fitness franchise. The Planet Fitness franchise sets itself apart from other gyms by being the "Judgement Free Zone" where everyone can feel comfo. Estimated total initial investment: $2,405 to $3,200. Estimated total initial investment: $304,500 to $2.1 million. If you own and operate multiple Planet Fitness businesses in the same market area and LAF spending for them is combined. To assign a valuation multiple for Planet Fitness franchises, we leverage estimates from DealStats, a database of acquired private company transactions sourced from U.S. business brokers and SEC filings. Planet Fitness Gym - Franchise Solutions 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. Even though its smaller than Pure Barre. The board of directors at Planet Fitness is as follows: Stephen Spinelli, Jr. (Ph.D.), Chairman Chris Rondeau (CEO) Bernard Acoca Enshalla Anderson Craig Benson Cammie Dunaway Frances Gregg Rathke Christopher Tanco At that time, Michael Grondahl stepped down as CEO and Chris Rondeau took his place and has held the position since. Looks like your subscription is due.

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