Over the last three years, franchises have opened at a rate of 148 units a year. We got you! 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. Golds Gym also requires that potential franchisees have a minimum of $1 million in net worth and $400,000 in liquid assets. Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). In 2020, he joined the International Franchise Association (IFA) Board of Directors; board members are drawn from a world-class set of franchise brands. In this role, she oversees general HR operations, talent acquisition, leadership development, business partner support, culture and employee engagement, benefits and compensation. 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. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. Even more reason to consider investing in a gym franchise? This covers the cost of being able to use their name and logo. | United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. Planet Fitness franchise was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. There are both advantages and disadvantages of franchising, so make sure you weigh both sides thoroughly. [13] The new model was an effort to provide a fitness hub for everyday people. [32][33], Planet Fitness started franchising units in 2003. She received her Bachelors degree in Public Communications from American University in Washington, DC, and served on the Board of Directors for the Boys & Girls Clubs of Manchester, NH. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. The estimated total investment necessary to begin the operation of a Planet Fitness Franchise ranges from $1,625,600 $4,921,000. Lead Assigning Editor | Small business finances, investing, banking. Fitness franchises are currently booming with the largest franchises globally being Anytime Fitness and Planet Fitness. The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. This influences which products we write about and where and how the product appears on a page. This metric is the standard industry investment amount for a single unit franchise investment in this industry. Burn Boot Camp Share. service, Computer System. Looks like your subscription is due. Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing gym franchises in the United States. Club Pilates North Shore is a boutique Pilates studio specializing in reformer fusion classes for anyone, at any age or fitness level. 6.4 miles away from Planet Fitness. Paid Grace Period. Estimated total initial investment: $1 million to $4.1 million. [28] It ranked in the top 50 of Entrepreneur magazine's Franchise 500 in 2017. Please confirm by clicking on the Cancel Subscriptionbutton below. Planet Fitness growth continued over the next decade and in 2013, TSG Consumer Partners, LLC became an equity partner in the Planet Fitness franchise. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. [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. 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. With that said, a Planet Fitness franchise . The name came from his daughter's school project, "Fitness Planet". 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. In this role, he will lead the Companys technology evolution and strategy, focused on delivering technology solutions that will continue to enhance the member experience while optimizing infrastructure, data and operations for flexibility and scale. Benson, who co-founded the former Cabletron Systems, once the . - In currency of the United Kingdom, the investment comes around 694,900 to 3,040,600. Join now to become a registered PFIFC member and gain access to a wealth of information that will help you succeed as a Planet Fitness owner. Chris Rondeau has served as the Chief Executive Officer of Planet Fitness since January 2013. Initial franchise terms are 10 years. We offer detailed franchise research and contact data reports. Year Business Began: 1992. Ms. Kaplan holds a B.S. 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. [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. Although gym franchises require that the owner has previous management experience, most dont require experience in the. Orange Theorys success is quite similar to Pelotons rise to fame. Previously, Mr. Fitzgerald served as Chief Administrative Officer of Sears Canada. 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. . That said, all of the gym franchises on this list (and those that arent on this list) allow curious investors to request more information for free. Liquid Cash Requirement: $1,500,000. 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. 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 Malaysian currency, the investment comes around MYR 3,93 million to MYR 17,21 million. [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. For those looking to get started with a Planet Fitness franchise, it's important to factor in all of these costs so that you have a clear understanding of the total investment required. 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 this role, he leads all aspects of our U.S. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. Ultimately, the only way to know which gym franchise is right for you is to do your own due diligence. Planet Fitness competes in the Fitness market against big brand companies such as Orange Theory and Golds Gym. In this role, he oversees the Companys accounting and treasury functions. Prior to Sonus, he worked for more than 10 years in public accounting with both Deloitte and Touche and Arthur Andersen. It is reported to be the nations fastest growing fitness center franchise. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see the mustache commercial? The franchise requires that candidates have access to over $90,000 in liquid capital, and a minimum net worth of $300,000. Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. Net Worth Requirement: $3,000,000 The total investment ranges from $728,290 to $3,777,800. All told, their gyms boast over 14 million members worldwide. Mind that the franchise requirements for sale could be different depending on the format and scope of business. Compared to $145 million in 2020, they saw an increase of 44% from 2020 to 2021. Even though its smaller than Pure Barre, The Bar Method franchise is growing quickly: In 2018, The Bar Method saw a 118% growth rate. Get in touch with Planet Fitness Owners from around the US with verified contact data for all owners of all Planet Fitness locations. Planet Fitness ( PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. Training starts with one week at the companys San Francisco headquarters, followed up by three to six months of training, led by a dedicated trainer, in your home location. 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. So long as you are not decided on the fitness industry, we recommend you have a look at other offerings. The difficult part of this step of the franchise buying due diligence process lies in obtaining a current list of Planet Fitness franchise owners. You must commit to opening a one or more PLANET FITNESS locations as a condition of acquiring area development rights, either yourself or through one or more entities in which you own 51% or more interest. Absentee Ownership Allowed, Planet Fitness Franchise Info: https://www.planetfitness.com. Owning a. means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. Comment. Investing in an Orange Theory franchise is an interesting opportunity, especially for individuals looking to make their way into the Fitness industry. Franchise Division including leading the operations, development and construction, vendor management and local marketing execution teams. At Jiffy Lube, he oversaw the strategic direction of the company, and managed franchise relationships to create a shared vision for the brand, drive network growth, and maintain Jiffy Lubes leading market share. Even after the pandemic hit, it continued to grow at a rate of over 100 units. 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. 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. This information may be different than what you see when you visit a financial institution, service provider or specific products site. All financial products, shopping products and services are presented without warranty. Prior to joining Planet Fitness, Mr. Vartanian was a corporate attorney at Devine Millimet. Follow along as PF Trainer Teddy teaches you the basics of fitness, right in the comfort of your own home. Across 50 states the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia This information may be different than what you see when you visit a financial institution, service provider or specific products site. Youre about to cancel your subscription. After you cover your startup costs, your total gross monthly take could greatly exceed your expectations, depending on how many memberships you sell. With this purchase, which was for an undisclosed amount, United PF's club count has . [47], In March 2013, Planet Fitness partnered with 50 Cent to sell his energy drink "Street King". As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. Call (888) 977-4374. If you are thinking about how to open a Planet Fitness franchise, begin with a franchise investment information. 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. Orange Theory Franchise was founded in Boca Raton, Florida in 2009. In fact, in a recent Inc. 5000 list of the 10 fastest growing franchises, four were fitness franchises. The initial Planet Fitness Franchise Fee is $20,000. Previously, he was the Chief Technology Officer at Airline Report Corporation, where he modernized the technology needed to process billions of dollars in payments annually. Please scroll down for a partial list of franchise businesses. Since their start in 2002, Anytime Fitness has opened over 4,000 locations on all seven continents. Planet Fitness has more members and locations than any other fitness brand. In other words, franchising takes most of the heavy lifting off your shoulders. Verizon Wireless, and Westin, just to name a very few. Robert Beaupre leads the SMB team at NerdWallet. On this Wikipedia the language links are at the top of the page across from the article title. 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. 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. They opened a new gym called Coastal Fitness and the Grondahls hired current CEO. Estimated total initial investment: $304,500 to $2.1 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. He held multiple store operations positions with P&L responsibility progressing from Store Manager to Regional Manager. The most popular workout model from Snap Fitness is known as MYFIT. 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. You will pay a lump-sum nonrefundable Initial Franchise Fee in the amount of $20,000 when you sign the Franchise Agreement. [36], The company reports that as of 2019, there are 80 corporate-owned gyms, the rest independently owned and operated. The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. [22] In 2010, Men's Health magazine called Planet Fitness "the worst gym in America. But buying into a gym franchise is a less risky venture than building a gym from the ground up. There are very few reasons why one might want to open a Planet Fitness franchise. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. Initial franchise fee: $32,000 to $40,000, Estimated total initial investment: $2.2 million to $5 million. 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. [21] Some bodybuilders and weight lifters have found the way they're portrayed in Planet Fitness TV commercials to be offensive, and the way they're treated in Planet Fitness gyms to be "quite possibly discriminatory. 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. Office Depot, Planet Fitness, Roto Rooter, Starbucks, Taco Bell, Travelers, and United Health Group. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105. All reactions: 8. 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. Prior to Dunkin, she worked at various communications agencies in both Boston and Washington, DC on behalf of various leading retail brands. All initial fees are the same for both initial and conversion franchises. For example, this includes replacing your cardio equipment every 5 years and replacing your non-cardio equipment every 7 years. - In currency of Germany, the investment comes around EUR 805,430 to EUR 3,524,180. from Boston University and an M.B.A. from the University of Denver, Daniels College of Business. [7] They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. [48], Since December 2014, Planet Fitness has been the official fitness sponsor of Dick Clark's New Year's Rockin' Eve on ABC. Gym franchises dont get much more classic than Jazzercise, the high-intensity, dance-cardio fusion class that became a fitness mainstay during the 80s exercise boom. If a fitness business with a franchise sounds good, heres nine of the most promising options for a gym franchise. Use this opportunity to ask qualitative questions that you wouldnt necessarily have answered through the FDD, or from the franchisors marketing materialslike how happy they are with the initial training and ongoing support they receive, and their opinions about the overall outlook of the business.