There are very few reasons why one might want to open a Planet Fitness franchise. 1),[16] and in its 2016 ranking of franchises, Forbes magazine ranked Planet Fitness No. [32][33], Planet Fitness started franchising units in 2003. 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. The concept currently has over 1,000 franchises in the United States and another 150 international locations and is a subsidiary of Ultimate Fitness Holdings. She also served as Senior Vice President of Human Resources at Macys Inc., and has held various leadership positions at The May Department Store Company, including corporate and division roles. [25][26] The company went public on August 6, 2015. 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. Franchising Since: 2000. process lies in obtaining a current list of Planet Fitness franchise owners. [8][9][7] In 2002, they purchased the rights to the name Planet Fitness from Rick Berks and renamed their franchise. Before the pandemic, it was growing at a rate of approximately 200 units a year, which is impressive. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. Under Rondeaus 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 Americas Best Franchises, Newsweek Best Customer Service, and Best Places to Work in New Hampshire. Estimated total initial investment: $2,405 to $3,200. Today, there are Planet Fitness franchise locations around the U.S. as well as Canada and the Dominican Republic. Planet Fitness Independent Franchisee Council Join Us Today! 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. From the start, Planet Fitnesswas an inclusive, non-intimidating gym and in 1997, Planet Fitness officially unveiled its Judgement Free Zone philosophy. Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. 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 . Disclaimer: NerdWallet strives to keep its information accurate and up to date. [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. Call (888) 977-4374. The Grondahls changed the gyms name to Planet Fitness in 1994. Prior to Jiffy Lube, he served on Shells global Downstream Acquisitions & Divestments Leadership Team with responsibility for transaction delivery across North and South America. $10,000, plus our reasonable out-of-pocket expenses, including external legal and administrative costs we incur in connection with the transfer. 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. [19] According to a Planet Money episode from 2014, "half of the Planet Fitness members don't ever go to their gyms. "[21] Planet Fitness has been criticized for prohibiting certain weightlifting exercisessuch as deadlifts and clean-and-jerksthat many experts believe are highly effective. 6.4 miles away from Planet Fitness. They provide an affordable, high-quality fitness experience in a welcoming environment. 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. Owning a. means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. Former Gov. Owning a fitness franchise is a fantastic way to enter into the multi-billion dollar fitness industry. Based on a midpoint investment of $1,378,500 with estimated profits of $94,820 (10% profit margin) it would take about 15 years to recoup your investment. They opened a new gym called Coastal Fitness and the Grondahls hired current CEO. Net Worth Requirement: $3,000,000
LearningRx Franchise Corporation 5085 List Drive, #200 Colorado Springs, CO 80919 Phone: (719) 264-8808 Liz Anderson . The number of fitness franchise locations has been steadily increasing to a total of about 2,039. . These figures are estimates based on Planet Fitness and its affiliates experience in operating locations. This metric is the standard industry investment amount for a single unit franchise investment in this industry. service, Computer System. 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. Initial franchise fee: $30,000 to $50,000, Estimated total initial investment: $100,000 to $2 million. Then, the last four workouts in the program will take place in the gym and you'll learn how . from Boston University and an M.B.A. from the University of Denver, Daniels College of Business. Ms. Medeiros has been instrumental in developing and refining Planet Fitness marketing strategy and differentiated Judgement Free positioning in the fitness industry. It is important to talk to other franchisees and see what their costs were for leasehold improvements and construction. 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. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. [48], Since December 2014, Planet Fitness has been the official fitness sponsor of Dick Clark's New Year's Rockin' Eve on ABC. As a result, she has played an instrumental role in the major strategic decisions made by the Company. 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. 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. The Planet Fitness initial franchise fee is $20,000. You have to pay this upfront fee when opening a Planet Fitness franchise. McCall Gosselin joined Planet Fitness in January 2013 and currently serves as SVP of Communications and Corporate Social Responsibility. [18] This low-cost business model focuses on the needs of occasional or first-time health club members, rather than more experienced members,[6] and depends on many members rarely showing up. 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. - In the United States, the total investment to start the Planet Fitness gym is around $969,600 to $4,242,500. Club Pilates North Shore is a boutique Pilates studio specializing in reformer fusion classes for anyone, at any age or fitness level. The name came from his daughter's school project, "Fitness Planet". Youre about to cancel your subscription. -In thousands and rounded; represents electronic funds presented for draft for the 12 months of calendar year 2019 and 2020, respectively. You are going to downgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. [11][12] Berks had been catering to the bodybuilding culture in his Gold's Gym. Edward Hymes joined Planet Fitness in January 2023 as President and Chief Operating Officer. This large discrepancy indicates the potential different costs you could face when building your Orange Theory franchise as a franchisee. 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. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. 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. [36], The company reports that as of 2019, there are 80 corporate-owned gyms, the rest independently owned and operated. Like. Sorry. In 2020, he joined the International Franchise Association (IFA) Board of Directors; board members are drawn from a world-class set of franchise brands. 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. In this role, he oversees the Companys accounting and treasury functions. Year Business Began: 1992. Pure to Joseph Pilates' original Reformer-based Contrology Method, but modernized with group read more. Lets get started. Your experience may vary depending on whether you finance tenant improvements, your location, and other factors. 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. 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). [28] It ranked in the top 50 of Entrepreneur magazine's Franchise 500 in 2017. [6], In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. Browse 1000s of reports on 1000s of franchise systems. Ongoing Royalty Fee: $449 - $549/mo. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. - In Malaysian currency, the investment comes around MYR 3,93 million to MYR 17,21 million. [27], In February 2016, the franchise was added to the Franchise Times' "Fast and Serious" list of top franchises (No. [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. If you are thinking about how to open a Planet Fitness franchise, begin with a franchise investment information. Fitness franchises are currently booming with the largest franchises globally being Anytime Fitness and Planet Fitness. 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 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. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. 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. Golds Gym also requires that potential franchisees have a minimum of $1 million in net worth and $400,000 in liquid assets. 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. The total investment ranges from $728,290 to $3,777,800. Mr. Barber holds a B.S. Paul Barber joined Planet Fitness in October 2022 as the Companys Chief Information Officer. Call (888) . NerdWallet strives to keep its information accurate and up to date. [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. Prior to that he served as the Chief Operating Officer since 2003. He began working at Shell in 2001, holding broad and diverse roles including strategy, business development, project management, and deal delivery. has opened over 4,000 locations on all seven continents. SVP Communications and Corporate Social Responsibility, General Counsel and SVP, International Division. We provide estimated franchise costs for some countries:
There are both advantages and disadvantages of franchising, so make sure you weigh both sides thoroughly. Kathy Gentilozzi joined Planet Fitness in 2019 as the Companys Chief People Officer. Planet Fitness ( PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. Prior to joining the Company, Mr. ODonnell most recently served as Vice President of Finance and Chief Accounting Officer at Sonus Networks. "[20] In 2003, Planet Fitness opened its first franchised location in Florida, with Eric Dore and Shane McGuiness. Across 50 states the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia The initial Planet Fitness Franchise Fee is $20,000. Owner WIRED Telcom 159 W 1st Street Oswego, NY 13126 Phone: (315) 326-3350 . This investment is much higher than the industry standard of $253,000. ", "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. 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. However, this ultra-famous franchise is the most expensive on this list, with an estimated upfront investment potentially reaching over $5 million. Therefore, this may include substantial remodeling of your premises as frequently as every 5 years.
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