Ultimately, the only way to know which gym franchise is right for you is to do your own due diligence. Subscribe to our newsletters and keep up-to-date with the latest news in the franchise industry. Planet Fitness Independent Franchisee Council Join Us Today! HAMPTON, N.H., Jan. 11, 2022 - Planet Fitness, Inc. (NYSE: PLNT ), one of the largest and fastest-growing franchisors and operators of fitness centers with more members than any other fitness brand, announced today it has signed a definitive agreement to acquire Sunshine Fitness Growth Holdings, LLC ("Sunshine Fitness"), a leading owner and Please renew to keep using our services. 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. 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. [8][9][7] In 2002, they purchased the rights to the name Planet Fitness from Rick Berks and renamed their franchise. To open a gym, a franchisee must have a net worth of $3 million with a minimum of $1,500,000 in liquid assets. "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." 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. You are going to upgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. Since their start in 2002, Anytime Fitness has opened over 4,000 locations on all seven continents. Net Worth Requirement: $3,000,000
Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. However, the profit varies on your location also. The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. Prior to that, he served as the Director and General Manager of internet startup Kozmo, where he was responsible for new market development and operations. Planet Fitness franchise opportunities are proven by 1,500 clubs successfully operating worldwide. 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. 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). Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. You are going to downgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. He joined Planet Fitness in 2016 as the Senior Vice President of Franchise Operations. Call (888) . JLM Financial Partners, Austin, Texas, and Eagle Merchant Partners, Atlanta . service, Computer System. 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. ASK QUESTIONS ABOUT THE FRANCHISE, Distributorship Opportunities For Business, the terms of
Prior to joining Planet Fitness, Ms. Simmons worked in Finance and Business Planning roles for Timberland, PepsiCo, and Fisher Scientific International. [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. 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. They opened a new gym called Coastal Fitness and the Grondahls hired current CEO Chris Rondeau, who was still in college at the time, to run the gyms front desk. 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. 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. Franchise Sales Manager Planet Fitness 4 Liberty Lane West Hampton, NH 03842 Phone: (603) 750-0001 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. Mr. ODonnell holds a CPA and received his Bachelors degree in Accounting from Assumption College in Massachusetts. Prior to Planet Fitness, Ms. Gosselin worked at Dunkin Brands on the global public relations team. Although gym franchises require that the owner has previous management experience, most dont require experience in the. [17] They also dramatically reduced prices to compete against better-known brands. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. Ms. Medeiros has been instrumental in developing and refining Planet Fitness marketing strategy and differentiated Judgement Free positioning in the fitness industry. [43], With the addition of a Planet Fitness outlet in Hawaii in January 2018,[44] Planet Fitness had 1,500 locations with an estimated 10 million members across 50 states, the District of Columbia, the Dominican Republic, Mexico, and Panama[45] and Canada. 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 . Here is a list of our partners. 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. Here is a list of our partners and here's how we make money. [34] The royalty fee for a Planet Fitness is 7% of the total gross monthly and annual membership fees. This, too, is best evaluated with the help of an accountant or business lawyer, who can help you break down the fine print. At the moment we can not connect you to the representative of this franchise. 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. Robert Beaupre leads the SMB team at NerdWallet. Disclaimer: NerdWallet strives to keep its information accurate and up to date. Owning a. means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. New franchise owners can also expect to participate in a comprehensive training program, as the franchise requires their franchisees to be certified barre instructors. 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). Ongoing Royalty Fee: $449 - $549/mo. Estimated total initial investment: $304,500 to $2.1 million. 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 The policy states that "members and guests may use all gym facilities based on their sincere self-reported gender identity. Building in competition to workouts enhances ones motivation and keeps consumers coming back. 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. Comment. We got you! Currently, the. We offer detailed franchise research and contact data reports. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. 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. 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. The Planet Fitness franchise sets itself apart from other gyms by being the "Judgement Free Zone" where everyone can feel comfo. Liquid Cash Requirement: $1,500,000. Franchise fee: one-time $10,000 for a 10-year renewable agreement. This information may be different than what you see when you visit a financial institution, service provider or specific products site. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. Former Gov. She has also held editing roles at LearnVest, a personal finance startup, and its parent company, Northwestern Mutual. Planet Fitness offers people the opportunity to be a part of the fitness business, but we do not believe this is sustainable. 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. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. An individual planet fitness franchise owner can make around $513,00 to $5,554,000 annually. 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. Thats why we put together this complete mailing/telemarketing list containing contact the names, phone numbers and physical addresses of business owners in the franchise system and certain former franchise operators. 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. We offer the most complete and most accurate mailing/telemarketing list for Planet Fitness franchise owners. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. Orangetheory Fitness provides a totally unique (and seriously hard) group workout experience. FranchiseComplaints.org According to their website, Pure Barre is the oldest and most established barre studio out there. 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. The $10 per month level includes access to cardio and strength equipment, unlimited group fitness instruction and pizza and bagels once a month; the $24.99 per month ("Black Card") level allows members to bring one guest per day at no charge, access to all Planet Fitness locations, and access to extra amenities, such as tanning booths, massage chairs, red light therapy and water massage beds. 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. The Initial Franchise Fee is uniform and non-refundable. 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. Prior to joining Planet Fitness, Mr. [22] In 2010, Men's Health magazine called Planet Fitness "the worst gym in America.
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