Additional Training: Ongoing training
Planet Fitness Franchise Cost and Requirements for 2023 - IFPG Find other similar franchises in our catalog! 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. Paul Barber joined Planet Fitness in October 2022 as the Companys Chief Information Officer. Franchise Owners Contact Lists - FranchiseComplaints.org Please renew to keep using our services. Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. has over 8,900 franchises across the country. [34] The royalty fee for a Planet Fitness is 7% of the total gross monthly and annual membership fees. Then, the last four workouts in the program will take place in the gym and you'll learn how . Under Rondeaus 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 Americas Best Franchises, Newsweek Best Customer Service, and Best Places to Work in New Hampshire. [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. 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. * The data above, compiled from the Planet Fitness FDD (Franchise Disclosure Document) 2020, represent the estimated financial range for the initial setting up and first 6 months of operation for a new Planet Fitness gym. 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. . Fitness franchises are currently booming with the largest franchises globally being Anytime Fitness and Planet Fitness. Airfare, ground transportation, meals, lodging, Government agencies and bonding companies, Payroll, debt services, ongoing pre-sale/grand opening marketing, and cash to cover miscellaneous day-to-day expenses, Estimated Selling Price = Net Sales * 0.67, Estimated Selling Price = Net Sales * 1.21. Fitness centers have experienced sustained growth since the post-economic crisis in 2009. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. [61], In January 2020, Planet Fitness partnered with The Biggest Loser to be the official sponsor of the show's 2020 reboot.[62]. Sherrill Kaplan joined Planet Fitness in June 2021 as Chief Digital Officer. It is reported to be the nations fastest growing fitness center franchise. [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. The most popular workout model from Snap Fitness is known as MYFIT. 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. Paid Grace Period. If you can name a franchise business, it's probably on our Franchise owners marketing list. West Hampton, NH 03842, USA, Interested? Planet Fitness has more members and locations than any other fitness brand. Planet Fitness Announces 2019 Franchise Awards 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. 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. Mr. Barber has over 20 years of experience in leadership experience across a variety of industries, most recently serving as the Senior Vice President of Information Technology at United Natural Foods Inc. History of Planet Fitness in Timeline - Popular Timelines Of the total gross monthly and annual membership fees payable to you via EFT Dues Draft. If you are an individual with a passion for fitness and are willing to invest an amount ranging from $657,542 $2,105,322 or more, Orange Theory might be the right fit for you. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. 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. 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. 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. 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. The Initial Franchise Fee is uniform and non-refundable. has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. It offers classes for dance, aqua, cycle, box, pilates, and many more. is growing quickly: In 2018, The Bar Method saw a 118% growth rate. Many or all of the products featured here are from our partners who compensate us. Justin Vartanian serves as General Counsel and SVP, International Division overseeing all legal matters and international development. 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. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. We believe everyone should be able to make financial decisions with confidence. And while our site doesnt feature every company or financial product available on the market, were proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward and free. An individual planet fitness franchise owner can make around $513,00 to $5,554,000 annually. The Area Development Fee is uniform and non-refundable. All financial products, shopping products and services are presented without warranty. 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. In this role, he leads all aspects of our U.S. 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. Orange Theory uses your heart rate to show your exertion potential compared to the maximal effort and compares you to your peers in classes. Planet Fitness Announces Winners of Annual Franchisee Awards - PR Newswire 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). Initial franchise terms are 10 years. The fitness center industry is mainly divided into two groups, either a specialized fitness boutique or a full-scale gym with multiple amenities and services. Franchise Division including leading the operations, development and construction, vendor management and local marketing execution teams. This article originally appeared on JustBusiness, a subsidiary of NerdWallet. Franchising Since: 2000. 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. Both franchising units and company-operated stores have increased. You are going to upgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). [47], In March 2013, Planet Fitness partnered with 50 Cent to sell his energy drink "Street King". Planet Fitness ( PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. Mr. ODonnell has nearly 20 years of experience in a variety of finance and accounting roles. In 2020, he joined the International Franchise Association (IFA) Board of Directors; board members are drawn from a world-class set of franchise brands. Currently, Golds Gym franchise has available markets in almost every state across the country, and select international opportunities. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. Our partners cannot pay us to guarantee favorable reviews of their products or services. Owning a. means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. There are some units of Planet fitness franchisees making more than that or some making less than that. How Much Does A Planet Fitness Owner Make? - drfranchises.com 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. Ms. Simmons has an MBA in Finance from the University of New Hampshire and holds dual Bachelors degrees in Economics and Sociology from Indiana University. The total investment ranges from $728,290 to $3,777,800. The Planet Fitness franchise sets itself apart from other gyms by being the "Judgement Free Zone" where everyone can feel comfo. Subscribe to our newsletters and keep up-to-date with the latest news in the franchise industry. 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. 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 addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. However, this does not influence our evaluations. We believe that this franchise is an option for those that are passionate about fitness and are willing to put in the hours to make the business run smoothly. Annually Updated with New Owners of Planet Fitness Locations in the USA. If you are thinking about how to open a Planet Fitness franchise, begin with a franchise investment information. 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. Ultimately, the only way to know which gym franchise is right for you is to do your own due diligence.