So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. "I decided I didn't want to deal with that crowd, so that's when I opened the original Planet Fitness club in Sunrise, Florida, in 1993." Planet Fitness franchisees also compete against other smaller gym and fitness business locations. Planet Fitness franchise costs, based on Item 7 of the company's 2022 FDD: Initial Franchise Fee: $20,000 Site Selection Costs: $0 to $10,000 Construction Development Plan Review Fee: $0 to $4,000 Leasehold Improvements: $1,250,000 to $2,163,000 Fitness Equipment: $34,000 to $953,000 Non-Fitness Equipment: $63,000 to $825,000 It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. With that said, a Planet Fitness franchise . 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. has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. [28] It ranked in the top 50 of Entrepreneur magazine's Franchise 500 in 2017. If a fitness business with a franchise sounds good, heres nine of the most promising options for a gym franchise. That said, Orangetheory is designed for people of all fitness levels, since participants can go entirely at their own pace. Now, youd be hard-pressed to find a gym franchise that doesnt offer some form of barre class, but owning a Pure Barre franchise takes you straight to the source. 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. [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. 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. Prior to joining the Company, Mr. ODonnell most recently served as Vice President of Finance and Chief Accounting Officer at Sonus Networks. Pre-qualified offers are not binding. McCall Gosselin joined Planet Fitness in January 2013 and currently serves as SVP of Communications and Corporate Social Responsibility. Prior to Planet Fitness, Ms. Gosselin worked at Dunkin Brands on the global public relations team. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see the mustache commercial? In her role as Division President, Corporate Clubs, Ms. Simmons will be responsible for leading the Company's Corporate Club portfolio including driving overall performance, leading and developing the team, and identifying strategic growth and expansion opportunities of the brand's corporate store fleet, which consists of more than 200 locations across 14 states and Canada. 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. This routine is an 18-minute HIIT workout that targets cardio and endurance. On this Wikipedia the language links are at the top of the page across from the article title. 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. At the moment we can not connect you to the representative of this franchise. You are going to downgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. Although gym franchises require that the owner has previous management experience, most dont require experience in the fitness industry. 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. - In currency of the United Kingdom, the investment comes around 694,900 to 3,040,600. - In Saudi Arabia currency, the investment comes around SR 3,64 million to SR 15,91 million. Today, there are Planet Fitness franchise locations around the U.S. as well as Canada and the Dominican Republic. Their popularity mostly comes down to their unique business model: All Anytime Fitness locations are open 24 hours a day, seven days a week, and members can access any of those 4,000+ locations no matter where they are in the world. So long as you are not decided on the fitness industry, we recommend you have a look at other offerings. This, too, is best evaluated with the help of an accountant or business lawyer, who can help you break down the fine print. The 2019 Planet Fitness Franchise Awards were given to the following: Hall of Fame: Jeff & James Innocenti - PF Supreme Franchisee of the Year: Mike Turner & CJ Bouchard - Excel Fitness Operator of the Year: Steve Kindler, Jr. - National Fitness Partners Developer of the Year: Tim Kelleher - Taymax Group Have questions? All financial products, shopping products and services are presented without warranty. 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. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. Robert Beaupre leads the SMB team at NerdWallet. 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. You have to pay this upfront fee when opening a Planet Fitness franchise. Order now to get instant access to the complete Planet Fitness franchise owners. Call (888) . As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. In this role, he leads all aspects of our U.S. [27], In February 2016, the franchise was added to the Franchise Times' "Fast and Serious" list of top franchises (No. [29], In 2020, the company received criticism for charging its customers for March dues "despite closing its facilities nationwide due to the novel coronavirus pandemic. Now, youd be hard-pressed to find a gym franchise that doesnt offer some form of barre class, but owning a. takes you straight to the source. The total investment ranges from $728,290 to $3,777,800. Ultimately, the only way to know which gym franchise is right for you is to do your own due diligence. [16] Planet Fitness became known as the "Judgement Free Zone", aimed more at the average user than the bodybuilder type of fitness enthusiast. 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. Paid by you to advertisers or Planet Fitness if it elects to collect from you. But perhaps most important to this process is interviewing current franchisees. [34] The royalty fee for a Planet Fitness is 7% of the total gross monthly and annual membership fees. $10,000, plus our reasonable out-of-pocket expenses, including external legal and administrative costs we incur in connection with the transfer. Prospective owners are asked to have a minimum net worth of $3 million and a minimum of $1,500,000 in liquid capital. He has covered financial topics as an editor for more than a decade. Mr. Barber holds a B.S. Participants are given heart-rate monitors, and their results are displayed on screens throughout the room over the course of this hour-long, interval-based, coach-led workout. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105. If you are thinking about how to open a Planet Fitness franchise, begin with a franchise investment information. You'll build confidence while increasing your fitness knowledge. Planet Fitness businesses are fitness training facilities offering exercise machines and free weights, fitness training services, tanning services . FranchiseComplaints.org The franchise requires that candidates have access to over $90,000 in liquid capital, and a minimum net worth of $300,000. 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. "[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. Overall, Planet Fitness is making a decent amount of profit, and we also see that the profit chart . If you can name a franchise business, it's probably on our Franchise owners marketing list. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. 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. This model has become extremely sticky in the fitness industry because while many people want to achieve their fitness goals, they innately lack motivation. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see. An innovative entrepreneur, Mr. Rondeau was honored as an EY Entrepreneur of the Year and inducted into the UNH Alumni Entrepreneur Hall of Fame. Absentee Ownership Allowed, Planet Fitness Franchise Info: https://www.planetfitness.com. 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. 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. Due Date: Expended according to Planet Fitness Methods of Operations as per your advertising budget. At that time, Michael Grondahl stepped down as CEO and Chris Rondeau took his place and has held the position since. [14] Berks later went on to open the first Youfit Health Club in St. Petersburg, Florida. Annually Updated with New Owners of Planet Fitness Locations in the USA. | United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. Reaching out to multi-unit franchise owners and regional developers gives you the ability to get your products and services into many locations with just one sale . Before the pandemic, it was growing at a rate of approximately 200 units a year, which is impressive. Our franchise contact lists contain contact details for both owners of single franchise units and multi-unit franchise owners, that is, franchisees that own many franchised locations. Prior to joining Planet Fitness, Mr. Vartanian was a corporate attorney at Devine Millimet. "[22], As early as March 2015, the "Judgement Free Zone" policy was expanded to allow trans women to use the women's locker room. 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. Since their start in 2002, Anytime Fitness has opened over 4,000 locations on all seven continents. Brian ODonnell joined Planet Fitness in February 2016 and currently serves as VP, Chief Accounting Officer. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. 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.

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