planet fitness franchise owners listplanet fitness franchise owners list

All told, their gyms boast over 14 million members worldwide. Total Investment $728,290 - $3,777,800. 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 Initial investments: $969,600 - $4,242,500 Net Worth Requirement: $3,000,000 Liquid Cash Requirement: $1,500,000 Estimated Initial Investment 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. Net Worth Requirement: $3,000,000 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. [7] They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. With that said, a Planet Fitness franchise . The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. The highest Planet Fitness franchise made over 3 million dollars in revenue, whereas the lowest earning one made $165,000. To be eligible to open a Crunch Fitness franchise, candidates must have at least $1 million in net worth and access to $300,000 to $400,000 in liquid assets. 10 Qualities of Highly Successful Fitness Franchise Owners 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. If you are thinking about how to open a Planet Fitness franchise, begin with a franchise investment information. After four years the Initial Franchise Fee for each location opened under the Area Development Agreement will be equal to then-current Initial Franchise Fee being charged to new franchisees. To open a gym, a franchisee must have a net worth of $3 million with a minimum of $1,500,000 in liquid assets. Over the last three years, the company has been expanding. Absentee Ownership Allowed, Planet Fitness Franchise Info: https://www.planetfitness.com. [17], As part of their effort to create a non-intimidating environment, Planet Fitness has alienated many serious weight lifters. 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. was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. Pure Barre has over 500 open locations across North America with tons of available studio markets in the U.S. The chain has over a thousand locations with over 400 units outside the US. 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. Office Depot, Planet Fitness, Roto Rooter, Starbucks, Taco Bell, Travelers, and United Health Group. 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. Subscribe to our newsletters and keep up-to-date with the latest news in the franchise industry. Our opinions are our own. [60], In October 2017, Planet Fitness and its members raised $1 million which it donated to the non-profit Boys and Girls Clubs of America. The franchise has locations in the United States, Canada, Dominican Republic, 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. Then, you will be in compliance with the LAF requirement if you spend an amount that satisfies the LAF obligations for all the Planet Fitness businesses in the aggregate. You must maintain the franchise premises according to Planet Fitness brand standards. Please renew to keep using our services. Estimated total initial investment: $198,650 to $446,250. 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. 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. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see. Brian ODonnell joined Planet Fitness in February 2016 and currently serves as VP, Chief Accounting Officer. "[23], In the fall of 2013, TSG Consumer Partners LLC became an equity partner in the Planet Fitness franchise. There are very few reasons why one might want to open a Planet Fitness franchise. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. 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. Call (888) 977-4374. Planet Fitness Franchise Cost & Fees | How To Open | Opportunities And In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. Rated Excellent on TrustPilot with feedback from 50+ customers. The Planet Fitness initial franchise fee is $20,000. The most popular workout model from Snap Fitness is known as MYFIT. The total investment ranges from $728,290 to $3,777,800. Prior to that, Ms. Gentilozzi served as Senior Vice President of Human Resources at Aropostale, supporting over 25,000 employees in 1,000 retail locations throughout the U.S., Canada, and Puerto Rico. 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. 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. 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. Mr. Fitzgerald began his career at PepsiCo, where he held various leadership roles in finance and planning. How Much Does A Planet Fitness Owner Make? - drfranchises.com So long as you are not decided on the fitness industry, we recommend you have a look at other offerings. In this role, he leads all aspects of our U.S. 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 He joined Planet Fitness in 2016 as the Senior Vice President of Franchise Operations. "[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. 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. Planet Fitness Franchise Cost Worth the Profit? - Vetted Biz 1. Both franchising units and company-operated stores have increased. Planet Fitness Franchise Ownership FAQs - smallbiztrends.com They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see the mustache commercial? 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. An innovative entrepreneur, Mr. Rondeau was honored as an EY Entrepreneur of the Year and inducted into the UNH Alumni Entrepreneur Hall of Fame. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. Of the total gross monthly and annual membership fees payable to you via EFT Dues Draft. Chris Rondeau has served as the Chief Executive Officer of Planet Fitness since January 2013. Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing gym franchises in the United States. 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). Pre-qualified offers are not binding. 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. [41][42] In October 2015 the company opened their second international location in Santo Domingo, Dominican Republic. In 2020, he joined the International Franchise Association (IFA) Board of Directors; board members are drawn from a world-class set of franchise brands. Planet Fitness Independent Franchisee Council Join Us Today! This information may be different than what you see when you visit a financial institution, service provider or specific products site. Theyll provide you with a personal support team, comprehensive training, and marketing support over the course of your franchise agreements six-year term (or 10, if youre in California). Planet Fitness franchise was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. Planet Fitness Franchise Cost The estimated total investment necessary to begin the operation of a Planet Fitness Franchise ranges from $1,625,600 - $4,921,000. 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. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. Your experience may vary depending on whether you finance tenant improvements, your location, and other factors. Top Fitness Franchises to Check Out - Franchise How It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. 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. Across 50 states the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia Verizon Wireless, and Westin, just to name a very few. Sorry. Even more reason to consider investing in a gym franchise? Disclaimer: NerdWallet strives to keep its information accurate and up to date. The Planet Fitness franchise was founded in 1992 and has been franchising since 2003. Upon your submission of your Construction Development Plans for our approval, Point of Sale Support, Processing and Account Management Services Fees, $149-$199 plus processing and credit card fees based on the number of transactions processed per month or number of eligible accounts enrolled in collections. Even if your network of Planet Fitness franchises earns above $% a million, you will not be able to recover costs just by selling it. Owning a UFC Gym means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. Robert Beaupre leads the SMB team at NerdWallet. The Area Development Fee is in addition to the then-current Initial Franchise Fee due for each location at the time the Franchise Agreement for that location is executed. In this role, she is responsible for all aspects of the companys internal and external communications, including public relations, crisis management, executive communications, philanthropy, community relations and sustainability. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. The name came from his daughter's school project, "Fitness Planet". It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. service, Computer System. Before the pandemic, it was growing at a rate of approximately 200 units a year, which is impressive. Due Date: Expended according to Planet Fitness Methods of Operations as per your advertising budget. 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. Franchise Owners Contact Lists - FranchiseComplaints.org [47], In March 2013, Planet Fitness partnered with 50 Cent to sell his energy drink "Street King". [24] Michael Grondahl, co-founder of Planet Fitness stepped down as CEO, and was succeeded by Chris Rondeau. - In the United States, the total investment to start the Planet Fitness gym is around $969,600 to $4,242,500. Estimated Number of Units: 2,300. Planet Fitness Franchise This FREE 10-part progressive program will help you get movin'. This, too, is best evaluated with the help of an accountant or business lawyer, who can help you break down the fine print. 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. 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. All reactions: 8. Benson is back on the board of Planet Fitness Orange Theorys success is quite similar to Pelotons rise to fame. He also currently serves on the Board of Directors of the NH/VT/ME Region of the American Red Cross and the Business & Industry Association of New Hampshire. 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. NerdWallet strives to keep its information accurate and up to date. Orange Theory uses your heart rate to show your exertion potential compared to the maximal effort and compares you to your peers in classes. 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. Edward Hymes joined Planet Fitness in January 2023 as President and Chief Operating Officer. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. 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. Our partners cannot pay us to guarantee favorable reviews of their products or services. 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. [49] [50], Since 2015, Planet Fitness has been a personal sponsor of NASCAR driver and champion Joey Logano. Lets get started. 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. 1 comment. Throughout her tenure with Planet Fitness, Ms. Simmons built the Business Strategy and Analytics functions from the ground up, leveraging data, analytics and insights to develop and drive Planet Fitness overarching corporate strategy, propel the business forward, and reinforce the brands industry leadership position. Ms. Kaplan holds a B.S. Planet Fitness franchisees also compete against other smaller gym and fitness business locations. 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. You'll also benefit from . process lies in obtaining a current list of Planet Fitness franchise owners. 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. Kathy Gentilozzi joined Planet Fitness in 2019 as the Companys Chief People Officer. SVP Communications and Corporate Social Responsibility, General Counsel and SVP, International Division. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. Compared to $145 million in 2020, they saw an increase of 44% from 2020 to 2021. has over 8,900 franchises across the country. 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). This routine is an 18-minute HIIT workout that targets cardio and endurance. 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. Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. Their popularity mostly comes down to their unique business model: All Anytime Fitness locations are open 24 hours a day, seven days a week, and members can access any of those 4,000+ locations no matter where they are in the world. Year Business Began: 1992. In addition, he served as an online media manager for the University of Nevada, Reno. Your Royalty payment is currently based on the total gross monthly and annual membership fees for the Planet Fitness business that are due and payable to you each month and annually, as applicable, by or on behalf of your members through authorized EFT withdrawals (the EFT Dues Draft), regardless of the amount of membership fees you collect. Review the chart below to see how much it costs to buy a Planet Fitness franchise in 2022. In her role as Division President, Corporate Clubs, Ms. Simmons will be responsible for leading the Company's Corporate Club portfolio including driving overall performance, leading and developing the team, and identifying strategic growth and expansion opportunities of the brand's corporate store fleet, which consists of more than 200 locations across 14 states and Canada. Their website reads, We are not currently accepting new franchisee applications for US expansion.. 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 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. According to their website, Pure Barre is the oldest and most established barre studio out there. in Management Information Systems from Northwood University. They opened a new gym called Coastal Fitness and the Grondahls hired current CEO. Thanks to that near-legendary status in the fitness world, and their loyal customers. At the moment we can not connect you to the representative of this franchise. 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. Like. [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. 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. Fitness franchises are currently booming with the largest franchises globally being Anytime Fitness and Planet Fitness. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. 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. Pre-qualified offers are not binding. Point of Sale System, and other Supplies, Your Out-of-Pocket Initial Training Expenses, Operating Cash (Additional Funds Pre-Opening and first six months), $7% of the total gross monthly and annual membership fees payable to you via EFT Dues Draft, Internet Membership and Balance Payment Administration Fee, Set according to our Methods of Operations, presently 55 per membership application or balance payment we process for your franchise location, Fees to Evaluate and Approve Alternative Suppliers, Our reasonable costs and expenses, which currently are expected to range between $1,000 and $5,000, although costs could greatly exceed those amounts depending on the product, Will var under the circumstances: estimated insurance premiums for your first year are $10,000 to $20,000. Mr. ODonnell holds a CPA and received his Bachelors degree in Accounting from Assumption College in Massachusetts. Planet Fitness Announces Winners of Annual Franchisee Awards - PR Newswire As can be seen, Planet Fitness stock has outpaced the S&P 500 by almost 2x. [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. When evaluating offers, please review the financial institutions Terms and Conditions. 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. Prior to joining Planet Fitness, Mr. Vartanian was a corporate attorney at Devine Millimet. We now have: 2,400+ locations open (and we're just getting started!) Planet Fitness offers people the opportunity to be a part of the fitness business, but we do not believe this is sustainable. He has covered financial topics as an editor for more than a decade. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105. 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. ASK QUESTIONS ABOUT THE FRANCHISE, Distributorship Opportunities For Business, the terms of [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. Over the last three years, franchises have opened at a rate of 148 units a year. 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. 6.4 miles away from Planet Fitness. Overall, Planet Fitness is making a decent amount of profit, and we also see that the profit chart . 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. The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. 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.
Research Shows That African American Clients Prefer A Therapist, Casa Grande Dispatch Mugshots, Billy Da Kid Hrb, New Homes In Forney Tx Under $200k, Articles P