Franchise fee: one-time $10,000 for a 10-year renewable agreement. So long as you are not decided on the fitness industry, we recommend you have a look at other offerings. 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 a result, she has played an instrumental role in the major strategic decisions made by the Company. If you sign an Area Development Agreement, the Initial Franchise Fee for each location opened under the Area Development Agreement will be $20,000 for Franchise Agreements entered into within four years of the effective date of your Area Development Agreement. [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. ", "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. List to Contact Planet Fitness Franchise Owners - Planet Fitness Owners Contact List. Fitness centers have experienced sustained growth since the post-economic crisis in 2009. Your actual costs may be higher or lower depending on the size and location of your Planet Fitness business. You have to pay this upfront fee when opening a Planet Fitness franchise. Except for signage, Planet Fitness will not require substantial remodeling more often than every 5 years during the term of the Franchise Agreement. Many of these are one-time fees that are needed to launch the franchise. Share. Planet Fitness franchise opportunities are proven by 1,500 clubs successfully operating worldwide. Christine Aebischer is an assistant assigning editor on the small-business team at NerdWallet who has covered business and personal finance for nearly a decade. The following costs are part of the upfront costs included in the initial investment for Planet Fitness locations. has opened over 4,000 locations on all seven continents. Justin Vartanian serves as General Counsel and SVP, International Division overseeing all legal matters and international development. 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 . 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. Call (888) . 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. Classroom Training: 80 hours Get in touch with Planet Fitness Owners from around the US with verified contact data for all owners of all Planet Fitness locations. By becoming a franchise owner, you can benefit from a proven business model, existing customer base, and franchisee support system. 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. 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? is growing quickly: In 2018, The Bar Method saw a 118% growth rate. Planet Fitness Franchise Costs, Fees, Revenues, Profits (2022 Review) 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. Start a Planet Fitness Franchise in 2023 - Entrepreneur ASK QUESTIONS ABOUT THE FRANCHISE, Distributorship Opportunities For Business, the terms of Compared to $145 million in 2020, they saw an increase of 44% from 2020 to 2021. Franchise Owners Marketing Lists - Dataman Group Direct Initial franchise fee: $30,000 to $50,000, Estimated total initial investment: $100,000 to $2 million. Ultimately, the only way to know which gym franchise is right for you is to do your own due diligence. Planet Fitness (PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. You must be logged in to view this form. Planet Fitness franchise is one of the largest fitness US chains by a number of members and locations. Follow along as PF Trainer Teddy teaches you the basics of fitness, right in the comfort of your own home. 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. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. Pure to Joseph Pilates' original Reformer-based Contrology Method, but modernized with group read more. 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. Orange Theory Franchise was founded in Boca Raton, Florida in 2009. Today, there are Planet Fitness franchise locations around the U.S. as well as Canada and the Dominican Republic. At the moment we can not connect you to the representative of this franchise. Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing gym franchises in the United States. Planet Fitness offers people the opportunity to be a part of the fitness business, but we do not believe this is sustainable. This could be an indicator that franchisees are doing really well. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. Sorry. Before joining NerdWallet, he served as senior editorial manager of QuinStreet's insurance sites and managing editor of Insure.com. 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. When you go to sell a Planet Fitness franchise based on the median multiple of .67 and net sales in 2021 of $1,545,877, it would sell for $1,035,737. Orangetheory Fitness provides a totally unique (and seriously hard) group workout experience. PLANET FITNESS - 57 Photos & 19 Reviews - Yelp [19] According to a Planet Money episode from 2014, "half of the Planet Fitness members don't ever go to their gyms. Throughout her tenure with Planet Fitness, Ms. Simmons built the Business Strategy and Analytics functions from the ground up, leveraging data, analytics and insights to develop and drive Planet Fitness overarching corporate strategy, propel the business forward, and reinforce the brands industry leadership position. Looks like your subscription is due. Mr. Hymes has over 30 years of experience leading domestic and international retail, franchise, and e-commerce businesses for global companies, most recently serving as the President and Chief Executive Officer of Jiffy Lube International. The Fitness Center industry has over 111,000 businesses with a market size of $34 billion, and it supports over 800,000 jobs. - In Philippine currency, the investment comes around Php 47,15 million to Php 206,34 million. On this Wikipedia the language links are at the top of the page across from the article title. Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. PDF Together We Are Franchising Prospective owners are asked to have a minimum net worth of $3 million and a minimum of $1,500,000 in liquid capital. Planet Fitness Announces Winners of Annual Franchisee Awards - PR Newswire This covers the cost of being able to use their name and logo. 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. [7] They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. 9 Best Gym Franchises - NerdWallet Verizon Wireless, and Westin, just to name a very few. An individual planet fitness franchise owner can make around $513,00 to $5,554,000 annually. The Planet Fitness franchise was founded in 1992 and has been franchising since 2003. Planet Fitness Franchise * 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. Planet Fitness franchise was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. Thanks to that near-legendary status in the fitness world, and their loyal customers, Jazzercise has over 8,900 franchises across the country. Prior to Sonus, he worked for more than 10 years in public accounting with both Deloitte and Touche and Arthur Andersen. [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. Cash Required $1,500,000. 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. 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. Prior to Potbelly, he served in varying executive roles at Charming Charlie Inc. including President and Chief Financial Officer, and Chief Administrative Officer. Ms. Gentilozzi has more than 30 years of Human Resources leadership experience at national retail brands, most recently serving as Executive Vice President of Human Resources at FULLBEAUTY Brands where she led all HR initiatives to support 2,000 associates. 6.4 miles away from Planet Fitness. Bill Bode serves as Division President, U.S. If you are thinking about how to open a Planet Fitness franchise, begin with a franchise investment information. Please renew to keep using our services. Planet Fitness Independent Franchisee Council Join Us Today! 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. But buying into a gym franchise is a less risky venture than building a gym from the ground up. - In Mexican currency, the investment comes around Peso 20,19 million to Peso 88,33 million. In fact, in a recent Inc. 5000 list of the 10 fastest growing franchises, four were fitness franchises. She received her Bachelors degree from Eastern Connecticut State University. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. service, Computer System. 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 more franchises you own, the more earning potential you have as private equity firms become interested in your business instead of individual owner-operators. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. Lead Assigning Editor | Small business finances, investing, banking.