from Boston University and an M.B.A. from the University of Denver, Daniels College of Business. Then, the last four workouts in the program will take place in the gym and you'll learn how . Bringing Franchise Owners Together to Share and Grow. Mind that the franchise requirements for sale could be different depending on the format and scope of business. Paid by you to advertisers or Planet Fitness if it elects to collect from you. Verizon Wireless, and Westin, just to name a very few. 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. Looks like your subscription is due. - In Mexican currency, the investment comes around Peso 20,19 million to Peso 88,33 million. 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. Although gym franchises require that the owner has previous management experience, most dont require experience in the fitness industry. 1),[16] and in its 2016 ranking of franchises, Forbes magazine ranked Planet Fitness No. 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. 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. He joined Planet Fitness in 2016 as the Senior Vice President of Franchise Operations. [39][29][40], In December 2014, Planet Fitness opened its first international location in Toronto, Ontario, Canada. The Area Development Fee is uniform and non-refundable. Franchise fee: one-time $42,500 Royalty fees: $699/mo Planet Fitness Planet fitness has locations in Canada, Mexico, Panama, and all 50 states of the US. 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. 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. 6.4 miles away from Planet Fitness. [24] Michael Grondahl, co-founder of Planet Fitness stepped down as CEO, and was succeeded by Chris Rondeau. Initial term lengths last 10 years. Even if your network of Planet Fitness franchises earns above $% a million, you will not be able to recover costs just by selling it. Franchise Division including leading the operations, development and construction, vendor management and local marketing execution teams. In this role, he leads all aspects of our U.S. 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. 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 Currently, the Planet Fitness franchise has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. 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. You'll also benefit from . The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. Performing this action will delete your account. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. Youre about to cancel your subscription. is growing quickly: In 2018, The Bar Method saw a 118% growth rate. Ms. Medeiros has been instrumental in developing and refining Planet Fitness marketing strategy and differentiated Judgement Free positioning in the fitness industry. Orange Theory Franchise was founded in Boca Raton, Florida in 2009. Mr. Fitzgerald began his career at PepsiCo, where he held various leadership roles in finance and planning. [17], As part of their effort to create a non-intimidating environment, Planet Fitness has alienated many serious weight lifters. 4. These figures are estimates based on Planet Fitness and its affiliates experience in operating locations. Therefore, this may include substantial remodeling of your premises as frequently as every 5 years. You are going to upgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. Prior to joining Planet Fitness, Ms. Simmons worked in Finance and Business Planning roles for Timberland, PepsiCo, and Fisher Scientific International. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. Planet Fitness franchise is growing, and it is growing fast. [37], The club's two membership levels are $10 and $24.99 per month in the United states[38] and in Canada they charge $15 and $25 per month. Bode was also responsible for U.S brand compliance and business development along with leadership positions overseeing training, store development, marketing, and franchising. 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. But perhaps most important to this process is interviewing current franchisees. Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). 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. If a fitness business with a franchise sounds good, heres nine of the most promising options for a gym franchise. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. Lets get started. Headquarters: Hampton, New Hampshire. 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. 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 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? 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. [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. The Fitness Center industry has over 111,000 businesses with a market size of $34 billion, and it supports over 800,000 jobs. You may need additional operating capital, or you may need it for a longer period of time. 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. Ms. Gosselin was named a Top Woman in PR by PR News in 2020. This routine is an 18-minute HIIT workout that targets cardio and endurance. "[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. 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. But buying into a gym franchise is a less risky venture than building a gym from the ground up. Prior to Sonus, he worked for more than 10 years in public accounting with both Deloitte and Touche and Arthur Andersen. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. The difficult part of this step of the franchise buying due diligence process lies in obtaining a current list of Planet Fitness franchise owners. If you can name a franchise business, it's probably on our Franchise owners marketing list. Orange Theory uses your heart rate to show your exertion potential compared to the maximal effort and compares you to your peers in classes. ", "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. [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. 2- Based on a midpoint investment of $3,273,300 with estimated profits of $154,587 at a 10% profit margin, it would take about 21 years to recoup your investment. As a franchise owner, youll benefit from a proven business model, brand recognition, existing customer base, vendor network, and robust franchisee support system. It is reported to be the nations fastest growing fitness center franchise. Both of these fitness companies, while they differ in business models, use your own fitness data and others to create a competitive atmosphere. Fitness centers have experienced sustained growth since the post-economic crisis in 2009. Compared to $145 million in 2020, they saw an increase of 44% from 2020 to 2021. The Planet Fitness franchise sets itself apart from other gyms by being the "Judgement Free Zone" where everyone can feel comfo. The second Toronto location opened in early 2015. Kick off your search with this list of nine of the most promising gym franchises to buy. Share. Ad Royalty Fee: $300/mo. [54][55] Also in 2016, the company donated more than $1 million to the program. 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. 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. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. There are very few reasons why one might want to open a Planet Fitness franchise. 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 [7] They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. Although gym franchises require that the owner has previous management experience, most dont require experience in the. 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. From the start, Planet Fitnesswas an inclusive, non-intimidating gym and in 1997, Planet Fitness officially unveiled its Judgement Free Zone philosophy. 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). ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. Initial term lengths last 10 years. Robert Beaupre leads the SMB team at NerdWallet. After a few years of growth, Planet Fitness started franchising in 2003 with the first franchised gym opened in Florida. 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. 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 owner of the franchise (the franchisee) is expected to be involved in all aspects of day-to-day operations. 4 Liberty Ln. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. Even though its smaller than Pure Barre, The Bar Method franchise is growing quickly: In 2018, The Bar Method saw a 118% growth rate. 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. Orangetheory Fitness provides a totally unique (and seriously hard) group workout experience. 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. Owning a UFC Gym means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. [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. 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. [29], In 2020, the company received criticism for charging its customers for March dues "despite closing its facilities nationwide due to the novel coronavirus pandemic. 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. To open a gym, a franchisee must have a net worth of $3 million with a minimum of $1,500,000 in liquid assets. Mr. Rondeau also received an honorary doctorate degree from Philadelphia University and received the Universitys honorary innovation medal. Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. 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 . 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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