From the start, Planet Fitnesswas an inclusive, non-intimidating gym and in 1997, Planet Fitness officially unveiled its Judgement Free Zone philosophy. 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. 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. 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. Estimated Number of Units: 2,300. 1,600+ locations open and we're just getting started! [36], The company reports that as of 2019, there are 80 corporate-owned gyms, the rest independently owned and operated. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. This information may be different than what you see when you visit a financial institution, service provider or specific products site. Franchise Description: Planet Fitness Franchising LLC is the franchisor.The ultimate parent company is Planet Fitness, Inc. ASK QUESTIONS ABOUT THE FRANCHISE, Distributorship Opportunities For Business, the terms of
[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. Even though its smaller than Pure Barre, The Bar Method franchise is growing quickly: In 2018, The Bar Method saw a 118% growth rate. 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. 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. Ms. Kaplan has over 20 years of experience, most recently serving as Global Marketing Operations Advisor for Advent International, a global private equity firm. Prospective owners are asked to have a minimum net worth of $3 million and a minimum of $1,500,000 in liquid capital. Order now to get instant access to the complete Planet Fitness franchise owners. [51] In April 2022, Planet Fitness appeared as a sponsor on a race truck for the first time in the 2022 Pinty's Truck Race on Dirt with Logano driving the truck. 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. 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. Cash Required $1,500,000. - In Canadian currency, the investment comes around Can$ 1,231,300 to Can$ 5,387,800. Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. According to their website, Pure Barre is the oldest and most established barre studio out there. [15], Rondeau and the Grondahls recognized that there was a greater opportunity to serve a much larger segment of the population if they changed the gym environment, both in attitude and format, by creating a non-intimidating, low-cost model. Find other similar franchises in our catalog! Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. Mr. Rondeau also received an honorary doctorate degree from Philadelphia University and received the Universitys honorary innovation medal. This could be an indicator that franchisees are doing really well. 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.
Top Fitness Franchises to Check Out - Franchise How [5] It markets itself as a "Judgement Free Zone" that caters to novice and casual gym users, and has faced both praise and criticism for its atmosphere. [39][29][40], In December 2014, Planet Fitness opened its first international location in Toronto, Ontario, Canada. 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. service, Computer System. has opened over 4,000 locations on all seven continents. $10,000, plus our reasonable out-of-pocket expenses, including external legal and administrative costs we incur in connection with the transfer. Verizon Wireless, and Westin, just to name a very few. Today the brand has over 2,000 locations system-wide. Pure to Joseph Pilates' original Reformer-based Contrology Method, but modernized with group read more. 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. Investing in an Orange Theory franchise is an interesting opportunity, especially for individuals looking to make their way into the Fitness industry. All financial products, shopping products and services are presented without warranty. Compared to $145 million in 2020, they saw an increase of 44% from 2020 to 2021. 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. Pre-qualified offers are not binding. When evaluating offers, please review the financial institutions Terms and Conditions. [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. - In Indian currency, the investment comes around Rs 7,14 crores to Rs 31,23 crores. Initial franchise terms are 10 years.
Planet Fitness Franchise Owners Contact List ", "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? 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. The Planet Fitness franchise was founded in 1992 and has been franchising since 2003. There are very few reasons why one might want to open a Planet Fitness franchise. Call us direct at (855) 822-0912, Get Contact Details & Mailing List of Planet Fitness Franchisees, The difficult part of this step of the franchise buying due diligence.
Planet Fitness Announces Winners of Annual Franchisee Awards - PR Newswire Jennifer Simmons joined Planet Fitness in 2013 as a business analyst, later joining the executive leadership team as Senior Vice President of Business Strategy and Analytics and in 2022 was named Division President, Corporate Clubs. industry. 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. At Yum! There are both advantages and disadvantages of franchising, so make sure you weigh both sides thoroughly. The Judgement Free Zone was started to help first-time gym users feel more comfortable starting their fitness journey. Throughout her tenure, she has held roles of increasing responsibility, with her most recent position being Vice President of National Marketing. We provide estimated franchise costs for some countries:
That said, as of June 2022, Planet Fitness has paused offering franchises. Planet Fitness franchise opportunities are proven by 1,500 clubs successfully operating worldwide. Follow along as PF Trainer Teddy teaches you the basics of fitness, right in the comfort of your own home. The fitness center industry has grown with the rise in disposable income and demand for a more health-conscious lifestyle among millennials. Paid by you to advertisers or Planet Fitness if it elects to collect from you. 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. Comment. He has covered financial topics as an editor for more than a decade. This, too, is best evaluated with the help of an accountant or business lawyer, who can help you break down the fine print. "[23], In the fall of 2013, TSG Consumer Partners LLC became an equity partner in the Planet Fitness franchise. The more franchises you own, the more earning potential you have as private equity firms become interested in your business instead of individual owner-operators. As a result, she has played an instrumental role in the major strategic decisions made by the Company. The Grondahls changed the gyms name to Planet Fitness in 1994. Please confirm by clicking on the Cancel Subscriptionbutton below. Even after the pandemic hit, it continued to grow at a rate of over 100 units. Here is a list of our partners. Initial franchise fee: $30,000 to $50,000, Estimated total initial investment: $100,000 to $2 million. We offer the most complete and most accurate mailing/telemarketing list for Planet Fitness franchise owners.
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. You must pay a supplemental fee of $5,000, per location remaining to be developed, plus our reasonable out-of-pocket expenses, including external legal and administrative costs we incur in connection with the transfer. Assistant Assigning Editor | Small-business finance, personal finance. 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. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. 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. - In the United States, the total investment to start the Planet Fitness gym is around $969,600 to $4,242,500.
Planet Fitness Gym - Franchise Solutions Prior to Jiffy Lube, he served on Shells global Downstream Acquisitions & Divestments Leadership Team with responsibility for transaction delivery across North and South America. The Planet Fitness initial franchise fee is $20,000. Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). To open a gym, a franchisee must have of $3 million with $1,500,000 in liquid assets. 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. [41][42] In October 2015 the company opened their second international location in Santo Domingo, Dominican Republic. Orange Theory is currently headquartered in Boca Raton, FL, and is run by its CEO Dave Long who previously served as the main developer and owner of the European Wax Center. Mr. Barber holds a B.S. [16] Planet Fitness became known as the "Judgement Free Zone", aimed more at the average user than the bodybuilder type of fitness enthusiast. 2% of the total gross monthly EFT Dues Draft.
Planet Fitness Franchise Cost & Opportunities 2023 | Franchise Help