[17] They also dramatically reduced prices to compete against better-known brands. According to their website, Pure Barre is the oldest and most established barre studio out there. They provide an affordable, high-quality fitness experience in a welcoming environment. 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. Prior to joining Planet Fitness, Mr. [44][37] In 2016, over 90% of Planet Fitness locations were opened by existing franchise owners. He has covered financial topics as an editor for more than a decade. The estimated total investment necessary to begin the operation of a Planet Fitness Franchise ranges from $1,625,600 $4,921,000. Follow along as PF Trainer Teddy teaches you the basics of fitness, right in the comfort of your own home. Absentee Ownership Allowed, Planet Fitness Franchise Info: https://www.planetfitness.com. Previously, she was an editor at Fundera, where she developed service-driven content on topics such as business lending, software and insurance. She has also held editing roles at LearnVest, a personal finance startup, and its parent company, Northwestern Mutual. So long as you are not decided on the fitness industry, we recommend you have a look at other offerings. That way, participants can both track their own progress, and see how it stacks up to other people in the classso if you thrive on competition, this is the gym franchise for you. process lies in obtaining a current list of Planet Fitness franchise owners. You must maintain your equipment according to Planet Fitness brand standards. [22] In 2010, Men's Health magazine called Planet Fitness "the worst gym in America. Benson, who co-founded the former Cabletron Systems, once the . . [32][33], Planet Fitness started franchising units in 2003. 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. Prior to joining Dunkin' Brands, he was a Dunkin' Donuts franchisee in Richmond, VA. Tom Fitzgerald joined Planet Fitness in 2020 as the Companys Chief Financial Officer. 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. As a result, she has played an instrumental role in the major strategic decisions made by the Company. [47], In March 2013, Planet Fitness partnered with 50 Cent to sell his energy drink "Street King". 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. Estimated total initial investment: $1 million to $4.1 million. in Management Information Systems from Northwood University. The highest Planet Fitness franchise made over 3 million dollars in revenue, whereas the lowest earning one made $165,000. In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. 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. Prior to joining Planet Fitness, Mr. Vartanian was a corporate attorney at Devine Millimet. 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). 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. Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. So how do we make money? Its also a good idea to reach out to at least a few former Planet Fitness franchisees to find out why they left or were terminated from the franchise system. 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. 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. Due Date: Paid monthly and annually. 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. The gym utilizes a "lunk alarm", which is a loud siren and rotating light that is used when a gymgoer grunts too loudly or drops weights. Largest Planet Fitness Franchisee Group Acquired by New York Private We provide estimated franchise costs for some countries: ASK QUESTIONS ABOUT THE FRANCHISE, Distributorship Opportunities For Business, the terms of [16] Planet Fitness became known as the "Judgement Free Zone", aimed more at the average user than the bodybuilder type of fitness enthusiast. We also suggest that you speak to 3 5 Planet Fitness owners before opening one yourself. 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. It is reported to be the nations fastest growing fitness center franchise. Building in competition to workouts enhances ones motivation and keeps consumers coming back. [13] The new model was an effort to provide a fitness hub for everyday people. 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. Planet Fitness estimates the total costs to re-equip your facility with both cardio equipment and all other exercise equipment will range from $314,000 to $922,000 every 5 to 7 years. Planet Fitness (PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. 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. - In currency of the United Kingdom, the investment comes around 694,900 to 3,040,600. Your experience may vary depending on whether you finance tenant improvements, your location, and other factors. Their website reads, We are not currently accepting new franchisee applications for US expansion.. Ongoing Royalty Fee: $449 - $549/mo. The Planet Fitness initial franchise fee is $20,000. In other words, franchising takes most of the heavy lifting off your shoulders. Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. [61], In January 2020, Planet Fitness partnered with The Biggest Loser to be the official sponsor of the show's 2020 reboot.[62]. [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. Sorry. Your actual costs may be higher or lower depending on the size of your Planet Fitness business, the volume, and usage of your members, or changes in the market. In this role, he leads all aspects of our U.S. Orange Theory uses your heart rate to show your exertion potential compared to the maximal effort and compares you to your peers in classes. In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. has opened over 4,000 locations on all seven continents. This information may be different than what you see when you visit a financial institution, service provider or specific products site. The Best Fitness Franchises You Can Buy - Trafft Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. Have questions? Planet Fitness franchise opportunities are proven by 1,500 clubs successfully operating worldwide. - In currency of Germany, the investment comes around EUR 805,430 to EUR 3,524,180. History of Planet Fitness in Timeline - Popular Timelines Currently, Golds Gym franchise has available markets in almost every state across the country, and select international opportunities. Planet Fitness is a profitable business for the franchisor, with retained earnings of $210 million in 2021. Both of these fitness companies, while they differ in business models, use your own fitness data and others to create a competitive atmosphere. Except for signage, Planet Fitness will not require substantial remodeling more often than every 5 years during the term of the Franchise Agreement. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. Looks like your subscription is due. McCall Gosselin joined Planet Fitness in January 2013 and currently serves as SVP of Communications and Corporate Social Responsibility. Call (888) . 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. Classroom Training: 80 hours Planet Fitness Franchise Cost and Requirements for 2023 - IFPG 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. 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 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. The second Toronto location opened in early 2015. [35], The net worth requirement for a Planet Fitness franchise is $3,000,000, while the liquid cash requirement is $1,500,000. Chris Rondeau has served as the Chief Executive Officer of Planet Fitness since January 2013. Many of these are one-time fees that are needed to launch the franchise. Prior to joining the Company, Mr. ODonnell most recently served as Vice President of Finance and Chief Accounting Officer at Sonus Networks. Prior to that, he served as the Director and General Manager of internet startup Kozmo, where he was responsible for new market development and operations. - In Canadian currency, the investment comes around Can$ 1,231,300 to Can$ 5,387,800. Edward Hymes joined Planet Fitness in January 2023 as President and Chief Operating Officer. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. Over the last three years, franchises have opened at a rate of 148 units a year. 1 comment. When evaluating offers, please review the financial institutions Terms and Conditions. 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. That said, as of June 2022, Planet Fitness has paused offering franchises. 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. was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. Fitness Franchisee Contact Lists - FranchiseComplaints.org To open a gym, a franchisee must have a net worth of $3 million with a minimum of $1,500,000 in liquid assets. Performing this action will delete your account. The owner of the franchise (the franchisee) is expected to be involved in all aspects of day-to-day operations. Estimated Number of Units: 2,300. Ms. Simmons has an MBA in Finance from the University of New Hampshire and holds dual Bachelors degrees in Economics and Sociology from Indiana University. 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. [27], In February 2016, the franchise was added to the Franchise Times' "Fast and Serious" list of top franchises (No. We reviewed the larger franchise industry as well as selling price multiples for larger systems where more transaction data is available. Additional Training: Ongoing training [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. 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. It offers classes for dance, aqua, cycle, box, pilates, and many more. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. Across 50 states the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia 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. [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 total investment ranges from $728,290 to $3,777,800. However, this ultra-famous franchise is the most expensive on this list, with an estimated upfront investment potentially reaching over $5 million. 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. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. Planet Fitness | Judgement Free Zone | Gym and Fitness Club He joined Planet Fitness in 2016 as the Senior Vice President of Franchise Operations. We believe everyone should be able to make financial decisions with confidence.