Across 50 states the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia These numbers indicate that potential earnings can vary significantly, and it depends on factors such as locations and how well the business is run. Planet Fitness estimates the costs to upgrade and/or remodel your facility will range from $70,000 to $600,000 every 5 years. Their website reads, We are not currently accepting new franchisee applications for US expansion.. 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. Planet Fitness offers people the opportunity to be a part of the fitness business, but we do not believe this is sustainable. The franchise has since modernized their routines and worked Pilates, yoga, hip hop, kickboxing, and strength training into their classes, which they claim can burn up to 800 calories in one hour. Ms. Gosselin was named a Top Woman in PR by PR News in 2020. Estimated annual transaction costs per location range from $9,000- $72,000, Equal to 50% of our then-current initial franchise fee. 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. Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. At the moment we can not connect you to the representative of this franchise. The name came from his daughter's school project, "Fitness Planet". If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. 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. Planet Fitness Independent Franchisee Council Join Us Today! Earlier in her career, Ms. Kaplan held several digital and marketing leadership roles at global brands including American Express and Citi, Inc. She serves as an independent member of the Fiesta Restaurant Group Board of Directors, as well as the Massachusetts Innovation & Technology Exchange (MITX). Pre-qualified offers are not binding. 1),[16] and in its 2016 ranking of franchises, Forbes magazine ranked Planet Fitness No. By becoming a franchise owner, you can benefit from a proven business model, existing customer base, and franchisee support system. FranchiseComplaints.org from Boston University and an M.B.A. from the University of Denver, Daniels College of Business. To assign a valuation multiple for Planet Fitness franchises, we leverage estimates from DealStats, a database of acquired private company transactions sourced from U.S. business brokers and SEC filings. This routine is an 18-minute HIIT workout that targets cardio and endurance. All financial products, shopping products and services are presented without warranty. was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. To open a gym, a franchisee must have of $3 million with $1,500,000 in liquid assets. Planet Fitness trademarked the phrase judgment free zone, so that alone should give you a sense of this gyms major value: inclusivity for all people, regardless of their fitness levels. [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. Ongoing Royalty Fee: $449 - $549/mo. - In Indian currency, the investment comes around Rs 7,14 crores to Rs 31,23 crores. The estimated total investment necessary to begin the operation of an Orange Theory Franchise ranges from $657,542 to $2,105,322. Prior to Planet Fitness, Ms. Gosselin worked at Dunkin Brands on the global public relations team. Upon your submission of your Construction Development Plans for our approval, Point of Sale Support, Processing and Account Management Services Fees, $149-$199 plus processing and credit card fees based on the number of transactions processed per month or number of eligible accounts enrolled in collections. 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. However, this does not influence our evaluations. 8. - In currency of the United Kingdom, the investment comes around 694,900 to 3,040,600. The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. 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. 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. "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." Edward Hymes joined Planet Fitness in January 2023 as President and Chief Operating Officer. 6.4 miles away from Planet Fitness. 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. The number of fitness franchise locations has been steadily increasing to a total of about 2,039. . Owning a. means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. [4], In October 2011, Planet Fitness reached an agreement with NBC to sponsor the network's reality show The Biggest Loser beginning with the 2012 season. Many or all of the products featured here are from our partners who compensate us. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. Liquid Cash Requirement: $1,500,000. Greater of $60,000 or 7% of the total gross monthly membership fees payable to you via EFT in a quarter, and the greatest of $5,000 or 3% of the total gross monthly membership fees payable to you via EFT in a month. This large discrepancy indicates the potential different costs you could face when building your Orange Theory franchise as a franchisee. Training starts with one week at the companys San Francisco headquarters, followed up by three to six months of training, led by a dedicated trainer, in your home location. Estimated total initial investment: $1 million to $4.1 million. process lies in obtaining a current list of Planet Fitness franchise owners. 1- Based on a midpoint investment of $3,273,300 with estimated profits of $77,293 at a 5% profit margin it would take about 42 years to recoup your investment. 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. Share. - In Philippine currency, the investment comes around Php 47,15 million to Php 206,34 million. That said, Orangetheory is designed for people of all fitness levels, since participants can go entirely at their own pace. Owner WIRED Telcom 159 W 1st Street Oswego, NY 13126 Phone: (315) 326-3350 . Prior to that he served as the Chief Operating Officer since 2003. 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. The $10 per month level includes access to cardio and strength equipment, unlimited group fitness instruction and pizza and bagels once a month; the $24.99 per month ("Black Card") level allows members to bring one guest per day at no charge, access to all Planet Fitness locations, and access to extra amenities, such as tanning booths, massage chairs, red light therapy and water massage beds. That said, as of June 2022, Planet Fitness has paused offering franchises. 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. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. 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. With this purchase, which was for an undisclosed amount, United PF's club count has . 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). [21] Some bodybuilders and weight lifters have found the way they're portrayed in Planet Fitness TV commercials to be offensive, and the way they're treated in Planet Fitness gyms to be "quite possibly discriminatory. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. Planet Fitness franchise is growing, and it is growing fast. Orange Theory uses your heart rate to show your exertion potential compared to the maximal effort and compares you to your peers in classes. | United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. We offer the most complete and most accurate mailing/telemarketing list for Planet Fitness franchise owners. has over 8,900 franchises across the country. Owning a UFC Gym means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. Greater of $15,000 or 7% of the total gross quarterly EFT Dues Draft, Expended quarterly according to our Methods of Operations as per your advertising budget, Varies, maximum of 9% total gross monthly EFT Dues Draft, Our actual costs, which may range from $3,000 to $15,000. You must maintain the franchise premises according to Planet Fitness brand standards. Orange Theory was ranked 49th in the franchise 500 rankings according to entrepreneur.com. Under Rondeau's 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' America's Best Franchises, Newsweek Best Customer Service, and Best Places to Work in New Hampshire. There are some units of Planet fitness franchisees making more than that or some making less than that. She received her Bachelors degree from Eastern Connecticut State University. Currently, the Planet Fitness franchise has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. 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 ", "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? This influences which products we write about and where and how the product appears on a page. Franchise Sales Manager Planet Fitness 4 Liberty Lane West Hampton, NH 03842 Phone: (603) 750-0001
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