Initial franchise fee: $30,000 to $50,000, Estimated total initial investment: $100,000 to $2 million. From the start, Planet Fitnesswas an inclusive, non-intimidating gym and in 1997, Planet Fitness officially unveiled its Judgement Free Zone philosophy. [61], In January 2020, Planet Fitness partnered with The Biggest Loser to be the official sponsor of the show's 2020 reboot.[62]. Cash Required $1,500,000. 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. Be advised to match Planet Fitness franchise cost and profit by analyzing low and high fees you need to pay starting a Planet Fitness franchise. Even though its smaller than Pure Barre, The Bar Method franchise is growing quickly: In 2018, The Bar Method saw a 118% growth rate. While at Dunkin Brands, he helped lead the technology team that rolled out mobile ordering across 9,000 locations. Ongoing Royalty Fee: $449 - $549/mo. Mr. ODonnell has nearly 20 years of experience in a variety of finance and accounting roles. Browse 1000s of reports on 1000s of franchise systems.
Planet Fitness - Wikipedia Thanks to that near-legendary status in the fitness world, and their loyal customers. . Estimated total initial investment: $304,500 to $2.1 million.
Largest Planet Fitness Franchisee Group Acquired by New York Private [8][9][7] In 2002, they purchased the rights to the name Planet Fitness from Rick Berks and renamed their franchise. 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. Find other similar franchises in our catalog! But perhaps most important to this process is interviewing current franchisees. 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. We offer detailed franchise research and contact data reports. Due Date: Paid monthly and annually. Thanks to that near-legendary status in the fitness world, and their loyal customers, Jazzercise has over 8,900 franchises across the country. 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. There are both advantages and disadvantages of franchising, so make sure you weigh both sides thoroughly. Like. 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. Golds Gym also requires that potential franchisees have a minimum of $1 million in net worth and $400,000 in liquid assets. Kick off your search with this list of nine of the most promising gym franchises to buy. [6], In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. - In Saudi Arabia currency, the investment comes around SR 3,64 million to SR 15,91 million. 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. You must maintain the franchise premises according to Planet Fitness brand standards. The following costs are part of the upfront costs included in the initial investment for Planet Fitness locations. 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 . The U.S. has the biggest Fitness market in the world, both in terms of revenue and in the number of members enrolled in a fitness facility. You'll also benefit from . 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. - In Philippine currency, the investment comes around Php 47,15 million to Php 206,34 million. An individual planet fitness franchise owner can make around $513,00 to $5,554,000 annually. Planet Fitness growth continued over the next decade and in 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. 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. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. Planet Fitness Independent Franchisee Council Join Us Today! These numbers indicate that potential earnings can vary significantly, and it depends on factors such as locations and how well the business is run. 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. One of the best ways to thoroughly research a franchise or business opportunity investment before purchasing one is to get feedback from current and former franchisees involved in the franchise system.
Planet Fitness Franchise Costs, Fees, Revenues, Profits (2022 Review) [35], The net worth requirement for a Planet Fitness franchise is $3,000,000, while the liquid cash requirement is $1,500,000. The difficult part of this step of the franchise buying due diligence process lies in obtaining a current list of Planet Fitness franchise owners. 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.
PF Independent Franchisee Council All initial fees are the same for both initial and conversion franchises. 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. Office Depot, Planet Fitness, Roto Rooter, Starbucks, Taco Bell, Travelers, and United Health Group. 2% of the total gross monthly EFT Dues Draft. Orange Theory Franchise was founded in Boca Raton, Florida in 2009. -In thousands and rounded; represents electronic funds presented for draft for the 12 months of calendar year 2019 and 2020, respectively. Initial franchise terms are 10 years.
History of Planet Fitness in Timeline - Popular Timelines She has also held editing roles at LearnVest, a personal finance startup, and its parent company, Northwestern Mutual. 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. - In Mexican currency, the investment comes around Peso 20,19 million to Peso 88,33 million. The number of fitness franchise locations has been steadily increasing to a total of about 2,039. . [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. So how do we make money? They opened a new gym called Coastal Fitness and the Grondahls hired current CEO. 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 Do not sell or share my personal information. You must be logged in to view this form. Prior to that he served as the Chief Operating Officer since 2003. Burn Boot Camp 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. This model has become extremely sticky in the fitness industry because while many people want to achieve their fitness goals, they innately lack motivation. 1. Get in touch with Planet Fitness Owners from around the US with verified contact data for all owners of all Planet Fitness locations. So long as you are not decided on the fitness industry, we recommend you have a look at other offerings. Currently, the. 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. 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. Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. Call (888) . 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. 4 Liberty Ln. Planet Fitness estimates the costs to upgrade and/or remodel your facility will range from $70,000 to $600,000 every 5 years. 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. 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. Our research and analytics team analyzed over 120 franchise concept investment breakdowns in order to calculate this figure. If you acquire rights under our Area Development program, you will pay an Area Development Fee equal to $10,000 per location to be developed under the Area Development Agreement when you sign the Area Development Agreement. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. Looks like your subscription is due. The estimated total investment necessary to begin the operation of an Orange Theory Franchise ranges from $657,542 to $2,105,322. 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. 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. 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. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. https://www.palmbeachpost.com/story/business/2012/05/19/at-youfit-health-clubs-patrons/7332606007/, "Planet Fitness headquarters moving to Hampton", "Planet Fitness Sets New Membership Records", "4 international franchises that landed Down Under in 2019", "The fastest-growing gym in America has $10 memberships and gives out free pizza, bagels, and candy", "Fit for franchising: From first gym in Dover, Planet Fitness building big brand", https://www.franchise-info.ca/franchise_news/2014/01/how-planet-fitness-became-the-leader-in-fitness-franchising.html#.Y-Hc-BZMEWM, "How Planet Fitness Became the Leader in Fitness Franchising - News", "Marc Grondahl of Planet Fitness: How a Lean Business Model Became a Franchise Heavyweight", "YouFit Health Club expanding across South Florida, around nation | The Starting Gate", "No-frills gym offers fitness without flash", "Fast and Serious: FT ranks the smartest-growing brands", "Franchise Players: We Were Planet Fitness's First Franchisees. We also suggest that you speak to 3 5 Planet Fitness owners before opening one yourself. Classroom Training: 80 hours
Please scroll down for a partial list of franchise businesses. Estimated total initial investment: $2,405 to $3,200. On this Wikipedia the language links are at the top of the page across from the article title. In fact, in a recent Inc. 5000 list of the 10 fastest growing franchises, four were fitness franchises. ", "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? service, Computer System.
Planet Fitness Franchise (Costs + Fees + FDD) | Franchise Direct Wed recommend meeting with your bank or accountant to help you determine which franchise is financially doable for you right now. After a few years of growth, Planet Fitness started franchising in 2003 with the first franchised gym opened in Florida. That said, as of June 2022, Planet Fitness has paused offering franchises. These figures are estimates based on Planet Fitness and its affiliates experience in operating locations. Planet Fitness offers people the opportunity to be a part of the fitness business, but we do not believe this is sustainable. Review the chart below to see how much it costs to buy a Planet Fitness franchise in 2022.
In this role, he is responsible for all aspects of financial strategy and management. Ms. Gosselin was named a Top Woman in PR by PR News in 2020. 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.
Fitness Franchisee Contact Lists - FranchiseComplaints.org 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. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105. Order now to get instant access to the complete Planet Fitness franchise owners.