planet fitness franchise owners listplanet fitness franchise owners list

It is reported to be the nations fastest growing fitness center franchise. For example, this includes replacing your cardio equipment every 5 years and replacing your non-cardio equipment every 7 years. 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. In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. Prior to that he served as the Chief Operating Officer since 2003. Fitness franchises are currently booming with the largest franchises globally being Anytime Fitness and Planet Fitness. Additional Training: Ongoing training An innovative entrepreneur, Mr. Rondeau was honored as an EY Entrepreneur of the Year and inducted into the UNH Alumni Entrepreneur Hall of Fame. Jamie Medeiros joined Planet Fitness in 2000, where she worked at the front desk in the Companys third location before transitioning to the Planet Fitness corporate marketing team. [11][12] Berks had been catering to the bodybuilding culture in his Gold's Gym. 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. Fitness centers have experienced sustained growth since the post-economic crisis in 2009. 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. Here is a list of our partners and here's how we make money. He joined the Company as General Counsel in 2014 and played a critical role in the Companys initial public offering in August of 2015, and has since overseen all public company, corporate governance and franchising matters as a key member of the companys leadership team. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. Estimated total initial investment: $303,000 to $499,850. Previously, Mr. Fitzgerald served as Chief Administrative Officer of Sears Canada. Paul Barber joined Planet Fitness in October 2022 as the Companys Chief Information Officer. The highest Planet Fitness franchise made over 3 million dollars in revenue, whereas the lowest earning one made $165,000. Gathering all available information about each potential franchise will help you land on the gym that not only works for you financially, but that also resonates with your lifestyle and values. 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. Planet Fitness Franchise Ownership FAQs - smallbiztrends.com This is a good indication of high growth as a company overall. Order now to get instant access to the complete Planet Fitness franchise owners. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. These numbers indicate that potential earnings can vary significantly, and it depends on factors such as locations and how well the business is run. Mr. ODonnell has nearly 20 years of experience in a variety of finance and accounting roles. All initial fees are the same for both initial and conversion franchises. Of the total gross monthly and annual membership fees payable to you via EFT Dues Draft. The initial Planet Fitness Franchise Fee is $20,000. Initial franchise fee: $54,950 to $59,950, Estimated total initial investment: $563,529 to $999,121. This FREE 10-part progressive program will help you get movin'. With that said, a Planet Fitness franchise . [6], In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. [61], In January 2020, Planet Fitness partnered with The Biggest Loser to be the official sponsor of the show's 2020 reboot.[62]. Planet Fitness offers people the opportunity to be a part of the fitness business, but we do not believe this is sustainable. Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. 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. Pre-qualified offers are not binding. Planet Fitness franchisees also compete against other smaller gym and fitness business locations. However, this ultra-famous franchise is the most expensive on this list, with an estimated upfront investment potentially reaching over $5 million. Prior to joining the Company, Mr. ODonnell most recently served as Vice President of Finance and Chief Accounting Officer at Sonus Networks. 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. Orange Theory uses your heart rate to show your exertion potential compared to the maximal effort and compares you to your peers in classes. At Yum! Owning a UFC Gym means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. Throughout her tenure, she has held roles of increasing responsibility, with her most recent position being Vice President of National Marketing. Franchise Division including leading the operations, development and construction, vendor management and local marketing execution teams. 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 Over the last three years, the company has been expanding. 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. JLM Financial Partners, Austin, Texas, and Eagle Merchant Partners, Atlanta . has over 8,900 franchises across the country. This article originally appeared on JustBusiness, a subsidiary of NerdWallet. With that in mind, Planet Fitness franchisees will need to pay for that international brand recognitionopening a Planet Fitness franchise may cost over $4 million. Kathy Gentilozzi joined Planet Fitness in 2019 as the Companys Chief People Officer. [8][9][7] In 2002, they purchased the rights to the name Planet Fitness from Rick Berks and renamed their franchise. 1. Orange Theorys success is quite similar to Pelotons rise to fame. - In Canadian currency, the investment comes around Can$ 1,231,300 to Can$ 5,387,800. Call (888) 977-4374. That said, Orangetheory is designed for people of all fitness levels, since participants can go entirely at their own pace. locations around the U.S. as well as Canada and the Dominican Republic. However, the profit varies on your location also. 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. We believe everyone should be able to make financial decisions with confidence. 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. PF Independent Franchisee Council Disclaimer: NerdWallet strives to keep its information accurate and up to date. Paid Grace Period. Corporate Governance - Management Team - Planet Fitness In this role, she oversees general HR operations, talent acquisition, leadership development, business partner support, culture and employee engagement, benefits and compensation. - In currency of the United Kingdom, the investment comes around 694,900 to 3,040,600. The franchise requires that candidates have access to over $90,000 in liquid capital, and a minimum net worth of $300,000. This model has become extremely sticky in the fitness industry because while many people want to achieve their fitness goals, they innately lack motivation. 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. She has also held editing roles at LearnVest, a personal finance startup, and its parent company, Northwestern Mutual. Franchise. Planet Fitness franchise was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. 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. So how do we make money? Join PFIFC 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. Mr. Rondeau also received an honorary doctorate degree from Philadelphia University and received the Universitys honorary innovation medal. 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. Start a Planet Fitness Franchise in 2023 - Entrepreneur Throughout his tenure at Dunkin Brands, Mr. In other words, franchising takes most of the heavy lifting off your shoulders. Many or all of the products featured here are from our partners who compensate us. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. ", "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? [35], The net worth requirement for a Planet Fitness franchise is $3,000,000, while the liquid cash requirement is $1,500,000. [16] Planet Fitness became known as the "Judgement Free Zone", aimed more at the average user than the bodybuilder type of fitness enthusiast. According to Franchise Direct, the initial franchise fee is $20,000, while the area development fee is $10,000. Even more reason to consider investing in a gym franchise? Initial franchise fee: $30,000 to $50,000, Estimated total initial investment: $100,000 to $2 million. Benson, who co-founded the former Cabletron Systems, once the . ", "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. $10,000, plus our reasonable out-of-pocket expenses, including external legal and administrative costs we incur in connection with the transfer. Owning a. means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. Classroom Training: 80 hours 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. 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. Franchise Description: Planet Fitness Franchising LLC is the franchisor.The ultimate parent company is Planet Fitness, Inc. Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. Overall, Planet Fitness is making a decent amount of profit, and we also see that the profit chart . Your experience may vary depending on whether you finance tenant improvements, your location, and other factors. The Fitness Center industry has over 111,000 businesses with a market size of $34 billion, and it supports over 800,000 jobs. Now, We Own 22 Locations", "What your new gym doesn't want you to know", "Planet Fitness vs. the lunkheads: Why is a health club trying to alienate people who love to work out? [32][33], Planet Fitness started franchising units in 2003. Year Business Began: 1992. Planet Fitness ( PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. Club Pilates North Shore is a boutique Pilates studio specializing in reformer fusion classes for anyone, at any age or fitness level. 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). If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. 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. Annually Updated with New Owners of Planet Fitness Locations in the USA. This information may be different than what you see when you visit a financial institution, service provider or specific products site. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. 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. Ms. Gentilozzi is a certified Senior Professional in Human Resources (SPHR). The Planet Fitness franchise sets itself apart from other gyms by being the "Judgement Free Zone" where everyone can feel comfo. 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. Estimated total initial investment: $198,650 to $446,250. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. LearningRx Franchise Corporation 5085 List Drive, #200 Colorado Springs, CO 80919 Phone: (719) 264-8808 Liz Anderson . They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see the mustache commercial? Rated Excellent on TrustPilot with feedback from 50+ customers. 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. Sherrill Kaplan joined Planet Fitness in June 2021 as Chief Digital Officer. Then, the last four workouts in the program will take place in the gym and you'll learn how . 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. McCall Gosselin joined Planet Fitness in January 2013 and currently serves as SVP of Communications and Corporate Social Responsibility. 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. 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. 4 Liberty Ln. Prior to joining Planet Fitness, Ms. Simmons worked in Finance and Business Planning roles for Timberland, PepsiCo, and Fisher Scientific International. Performing this action will delete your account. In this role, he leads all aspects of our U.S. At that time, Michael Grondahl stepped down as CEO and Chris Rondeau took his place and has held the position since. The second Toronto location opened in early 2015. United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. 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. Planet Fitness franchise is one of the largest fitness US chains by a number of members and locations. Compared to $145 million in 2020, they saw an increase of 44% from 2020 to 2021. Prospective owners are asked to have a minimum net worth of $3 million and a minimum of $1,500,000 in liquid capital. | United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. However, this does not influence our evaluations. - In the United States, the total investment to start the Planet Fitness gym is around $969,600 to $4,242,500. Lead Assigning Editor | Small business finances, investing, banking. 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. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105. Estimated annual transaction costs per location range from $9,000- $72,000, Equal to 50% of our then-current initial franchise fee. Mr. Fitzgerald began his career at PepsiCo, where he held various leadership roles in finance and planning. Planet Fitness Announces 2019 Franchise Awards 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. You have to pay this upfront fee when opening a Planet Fitness franchise. Ongoing Royalty Fee: $449 - $549/mo. This metric is the standard industry investment amount for a single unit franchise investment in this industry. Planet Fitness Franchise Cost Worth the Profit? - Vetted Biz 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. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. Even if your network of Planet Fitness franchises earns above $% a million, you will not be able to recover costs just by selling it. 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. Lets get started. 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. 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. 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. 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. 1 comment. When evaluating offers, please review the financial institutions Terms and Conditions. The minimum net worth required to own an Orange Theory franchise is $500,000 and the applicant must have liquid assets of at least $150,000. Estimated total initial investment: $2,405 to $3,200. "[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. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Franchise Sales Manager Planet Fitness 4 Liberty Lane West Hampton, NH 03842 Phone: (603) 750-0001 Sorry. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. But perhaps most important to this process is interviewing current franchisees. Initial franchise fee: $32,000 to $40,000, Estimated total initial investment: $2.2 million to $5 million. [49] [50], Since 2015, Planet Fitness has been a personal sponsor of NASCAR driver and champion Joey Logano. She played a pivotal role in creating breakthrough nation marketing campaigns that have built the brand over the past two decades, including iconic advertising campaigns like Lift Things and No Gymtimidation, along with pillar marketing sponsorships like the brands New Years Eve celebration in Times Square. In this role, he is responsible for all aspects of financial strategy and management. [48], Since December 2014, Planet Fitness has been the official fitness sponsor of Dick Clark's New Year's Rockin' Eve on ABC. 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. This information may be different than what you see when you visit a financial institution, service provider or specific products site. He held multiple store operations positions with P&L responsibility progressing from Store Manager to Regional Manager. Planet Fitness franchise opportunities are proven by 1,500 clubs successfully operating worldwide. You must maintain your equipment according to Planet Fitness brand standards. [46], Planet Fitness reported that it has around 2,400 gyms worldwide with a total membership of 17 million, generating an annual revenue of $936.8 million at the end of 2022. Planet Fitness Independent Franchisee Council Join Us Today! Today the brand has over 2,000 locations system-wide. 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.
Braille Activities For Sighted Students, Is Christina Gallagher Approved By The Catholic Church, Articles P