planet fitness franchise owners list

This information may be different than what you see when you visit a financial institution, service provider or specific products site. 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. Additional Training: Ongoing training The initial Planet Fitness Franchise Fee is $20,000. In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. Orange Theorys success is quite similar to Pelotons rise to fame. Prior to joining the Company, Mr. ODonnell most recently served as Vice President of Finance and Chief Accounting Officer at Sonus Networks. 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. 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. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see. This is a good indication of high growth as a company overall. 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. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. 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. We started our business in 1992 and refined our brand for a decade or so before franchising in 2003. Prior to joining Planet Fitness, Mr. Planet Fitness Independent Franchisee Council Join Us Today! The Fitness Center industry has over 111,000 businesses with a market size of $34 billion, and it supports over 800,000 jobs. Throughout her tenure, she has held roles of increasing responsibility, with her most recent position being Vice President of National Marketing. Crunch isnt quite as widespread as Planet Fitnesscurrently, they have 300+ open locations in 29 states and five countriesbut with plans to open an additional 1,000+ locations, theyre growing quickly. Orange Theory was ranked 49th in the franchise 500 rankings according to entrepreneur.com. Even if your network of Planet Fitness franchises earns above $% a million, you will not be able to recover costs just by selling it. $10,000, plus our reasonable out-of-pocket expenses, including external legal and administrative costs we incur in connection with the transfer. There are some units of Planet fitness franchisees making more than that or some making less than that. 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. Planet Fitness Franchise Owners Contact List $ 149 Add to cart; GNC Franchisee Owners List $ 129 - $ 179 Select options; Club Pilates Franchisee Owners List $ 99 Add to cart; Golds Gym Franchisee Owners List Planet Fitness franchisees also compete against other smaller gym and fitness business locations. The total investment ranges from $728,290 to $3,777,800. At that time, Michael Grondahl stepped down as CEO and Chris Rondeau took his place and has held the position since. We reviewed the larger franchise industry as well as selling price multiples for larger systems where more transaction data is available. The board of directors at Planet Fitness is as follows: Stephen Spinelli, Jr. (Ph.D.), Chairman Chris Rondeau (CEO) Bernard Acoca Enshalla Anderson Craig Benson Cammie Dunaway Frances Gregg Rathke Christopher Tanco . These figures are estimates based on Planet Fitness and its affiliates experience in operating locations. 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. As a franchise owner, youll benefit from a proven business model, brand recognition, existing customer base, vendor network, and robust franchisee support system. - In currency of the United Kingdom, the investment comes around 694,900 to 3,040,600. There are very few reasons why one might want to open a Planet Fitness franchise. Planet Fitness estimates the total costs to re-equip your facility with both cardio equipment and all other exercise equipment will range from $314,000 to $922,000 every 5 to 7 years. - In Mexican currency, the investment comes around Peso 20,19 million to Peso 88,33 million. By becoming a franchise owner, you can benefit from a proven business model, existing customer base, and franchisee support system. This influences which products we write about and where and how the product appears on a page. FranchiseComplaints.org 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. Initial franchise terms are 10 years. [47], In March 2013, Planet Fitness partnered with 50 Cent to sell his energy drink "Street King". [24] Michael Grondahl, co-founder of Planet Fitness stepped down as CEO, and was succeeded by Chris Rondeau. New franchise owners can also expect to participate in a comprehensive training program, as the franchise requires their franchisees to be certified barre instructors. [37], The club's two membership levels are $10 and $24.99 per month in the United states[38] and in Canada they charge $15 and $25 per month. Owning a. means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. Planet Fitness (PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. 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. This investment is much higher than the industry standard of $253,000. Throughout his tenure at Dunkin Brands, Mr. 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. Mr. Rondeau also received an honorary doctorate degree from Philadelphia University and received the Universitys honorary innovation medal. 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. They provide an affordable, high-quality fitness experience in a welcoming environment. You are going to downgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. [49] [50], Since 2015, Planet Fitness has been a personal sponsor of NASCAR driver and champion Joey Logano. 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. "[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. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105. 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. Planet Fitness's franchise fee is $10,000 for a 10-year renewable agreement, though the total investment ranges from $700,000 to $3.8 Million. 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). Lets get started. She is based in Santa Monica, California. [3] The company reports that it has around 2,400 clubs,[4] making it one of the largest fitness club franchises by number of members and locations. Today the brand has over 2,000 locations system-wide. 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. Assistant Assigning Editor | Small-business finance, personal finance. After you cover your startup costs, your total gross monthly take could greatly exceed your expectations, depending on how many memberships you sell. [28] It ranked in the top 50 of Entrepreneur magazine's Franchise 500 in 2017. Ms. Kaplan holds a B.S. Ad Royalty Fee: $300/mo. Initial franchise fee: $30,000 to $50,000, Estimated total initial investment: $100,000 to $2 million. The Judgement Free Zone was started to help first-time gym users feel more comfortable starting their fitness journey. "[22], As early as March 2015, the "Judgement Free Zone" policy was expanded to allow trans women to use the women's locker room. Your actual costs may be higher or lower depending on the size and location of your Planet Fitness business. Many of these are one-time fees that are needed to launch the franchise. Initial term lengths last 10 years. Before joining NerdWallet, he served as senior editorial manager of QuinStreet's insurance sites and managing editor of Insure.com. Initial franchise fee: $54,950 to $59,950, Estimated total initial investment: $563,529 to $999,121. [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. Depending on the location and pre-existing structure that is being purchased, you could see your expenditure being on the lower or higher end of this spectrum. But perhaps most important to this process is interviewing current franchisees. Kick off your search with this list of nine of the most promising gym franchises to buy. Planet Fitness Franchise Owners' Salary Your gross monthly take is based on your memberships, which range from $10 to $25 per month for the franchise. NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer Access|Licenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812, Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc. (CA resident license no. has opened over 4,000 locations on all seven continents. [19] According to a Planet Money episode from 2014, "half of the Planet Fitness members don't ever go to their gyms. -In thousands and rounded; represents electronic funds presented for draft for the 12 months of calendar year 2019 and 2020, respectively. Owner WIRED Telcom 159 W 1st Street Oswego, NY 13126 Phone: (315) 326-3350 . 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. Order now to get instant access to the complete Planet Fitness franchise owners. Prior to joining Planet Fitness, Ms. Simmons worked in Finance and Business Planning roles for Timberland, PepsiCo, and Fisher Scientific International. This information may be different than what you see when you visit a financial institution, service provider or specific products site. Pure to Joseph Pilates' original Reformer-based Contrology Method, but modernized with group read more. Mr. Fitzgerald holds an MBA in Finance from Indiana University Kelley School of Business and received his Bachelors degree in Finance from the University of Florida. 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.

Gail's Bakery Calories, Little Mulberry Park Pavilion, Tony Stewart Sprint Car Racing Setups, Boating Accident In Florida Today, Articles P