planet fitness franchise owners list planet fitness franchise owners list

Have questions? Franchise Division including leading the operations, development and construction, vendor management and local marketing execution teams. was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. Planet Fitness franchise opportunities are proven by 1,500 clubs successfully operating worldwide. Craig Benson has rejoined the board of directors of Planet Fitness, a national gym chain based in Hampton in which he is a substantial franchisee and which uses software from a company that Benson partly owns, according to a Securities and Exchange Commission filing. Annually Updated with New Owners of Planet Fitness Locations in the USA. Even more reason to consider investing in a gym franchise? You are going to downgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. Sorry. 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. Club Pilates North Shore is a boutique Pilates studio specializing in reformer fusion classes for anyone, at any age or fitness level. [22] In 2010, Men's Health magazine called Planet Fitness "the worst gym in America. [47] The contestants on the show worked out on Planet Fitness equipment and then at Planet Fitness gyms near their homes, working with Planet Fitness instructors. He also currently serves on the Board of Directors of the NH/VT/ME Region of the American Red Cross and the Business & Industry Association of New Hampshire. 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. 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. They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. At Yum! The most popular workout model from Snap Fitness is known as MYFIT. Initial franchise fee: $54,950 to $59,950, Estimated total initial investment: $563,529 to $999,121. 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. Ms. Gentilozzi is a certified Senior Professional in Human Resources (SPHR). [41][42] In October 2015 the company opened their second international location in Santo Domingo, Dominican Republic. Robert Beaupre leads the SMB team at NerdWallet. The biggest expenses in the additional costs section are leasehold improvements and construction costs which vary greatly from $1,250,000 to $2,163,000. The highest Planet Fitness franchise made over 3 million dollars in revenue, whereas the lowest earning one made $165,000. 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. Even more reason to consider investing in a gym franchise? To be eligible to open a Crunch Fitness franchise, candidates must have at least $1 million in net worth and access to $300,000 to $400,000 in liquid assets. But buying into a gym franchise is a less risky venture than building a gym from the ground up. In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. These numbers indicate that potential earnings can vary significantly, and it depends on factors such as locations and how well the business is run. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. Call (888) 977-4374. [6], In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. The Fitness Center industry has over 111,000 businesses with a market size of $34 billion, and it supports over 800,000 jobs. They provide an affordable, high-quality fitness experience in a welcoming environment. Due Date: Expended according to Planet Fitness Methods of Operations as per your advertising budget. Planet Fitness is a profitable business for the franchisor, with retained earnings of $210 million in 2021. Mr. Rondeau also received an honorary doctorate degree from Philadelphia University and received the Universitys honorary innovation medal. Planet Fitness franchisees also compete against other smaller gym and fitness business locations. We believe everyone should be able to make financial decisions with confidence. Prior to joining Planet Fitness, Mr. Estimated total initial investment: $198,650 to $446,250. Your actual costs may be higher or lower depending on the size and location of your Planet Fitness business. This influences which products we write about and where and how the product appears on a page. We started our business in 1992 and refined our brand for a decade or so before franchising in 2003. With this purchase, which was for an undisclosed amount, United PF's club count has . Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. Mr. Fitzgerald began his career at PepsiCo, where he held various leadership roles in finance and planning. The initial Planet Fitness Franchise Fee is $20,000. Franchising Since: 2000. Our research and analytics team analyzed over 120 franchise concept investment breakdowns in order to calculate this figure. Ms. Kaplan holds a B.S. [49] [50], Since 2015, Planet Fitness has been a personal sponsor of NASCAR driver and champion Joey Logano. Be advised to match Planet Fitness franchise cost and profit by analyzing low and high fees you need to pay starting a Planet Fitness franchise. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. Ms. Medeiros received her Bachelors degree from the University of New Hampshire. [54][55] Also in 2016, the company donated more than $1 million to the program. Currently, the. The Planet Fitness initial franchise fee is $20,000. All reactions: 8. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. The Grondahls changed the gyms name to Planet Fitness in 1994. 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. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. You may need additional operating capital, or you may need it for a longer period of time. Justin Vartanian serves as General Counsel and SVP, International Division overseeing all legal matters and international development. "[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. Annually Updated with New Owners of Planet Fitness Locations in the USA. 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. Liquid Cash Requirement: $1,500,000. At that time, Michael Grondahl stepped down as CEO and Chris Rondeau took his place and has held the position since. Co-founder, Elle Latham, decided to open a gym to implement her personally designed workout, which eventually became the basis for Orange Theorys system. He held multiple store operations positions with P&L responsibility progressing from Store Manager to Regional Manager. Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. 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. 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. The fitness center industry has grown with the rise in disposable income and demand for a more health-conscious lifestyle among millennials. Even if your network of Planet Fitness franchises earns above $% a million, you will not be able to recover costs just by selling it. Orange Theory Franchise was founded in Boca Raton, Florida in 2009. In this role, he oversees the Companys accounting and treasury functions. West Hampton, NH 03842, USA, Interested? After a few years of growth, Planet Fitness started franchising in 2003 with the first franchised gym opened in Florida. The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. In 2020, he joined the International Franchise Association (IFA) Board of Directors; board members are drawn from a world-class set of franchise brands. The name came from his daughter's school project, "Fitness Planet". Cash Required $1,500,000. locations around the U.S. as well as Canada and the Dominican Republic. 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. Net Worth Requirement: $3,000,000 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 Prior to Jiffy Lube, he served on Shells global Downstream Acquisitions & Divestments Leadership Team with responsibility for transaction delivery across North and South America. Our opinions are our own. However, the profit varies on your location also. This is significantly lower than the midpoint investment of $3,273,500. 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 . Orangetheory claims to be one of the fastest-growing franchises in the world, and theyre ranked 60th in Inc. Magazines Fastest Growing Private Companies List. Please confirm by clicking on the Cancel Subscriptionbutton below. 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. Many or all of the products featured here are from our partners who compensate us. Their website reads, We are not currently accepting new franchisee applications for US expansion.. Owner WIRED Telcom 159 W 1st Street Oswego, NY 13126 Phone: (315) 326-3350 . Owning a UFC Gym means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. The chain has over a thousand locations with over 400 units outside the US. McCall Gosselin joined Planet Fitness in January 2013 and currently serves as SVP of Communications and Corporate Social Responsibility. Browse 1000s of reports on 1000s of franchise systems. * 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. 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. ", "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? You must pay a supplemental fee of $5,000, per location remaining to be developed, plus our reasonable out-of-pocket expenses, including external legal and administrative costs we incur in connection with the transfer. Orangetheory claims to be one of the fastest-growing franchises in the world, and theyre ranked 60th in Inc. Magazines Fastest Growing Private Companies List. This article originally appeared on JustBusiness, a subsidiary of NerdWallet. Initial term lengths last 10 years. Estimated annual transaction costs per location range from $9,000- $72,000, Equal to 50% of our then-current initial franchise fee. 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. Prior to Planet Fitness, Ms. Gosselin worked at Dunkin Brands on the global public relations team. In other words, franchising takes most of the heavy lifting off your shoulders. 1),[16] and in its 2016 ranking of franchises, Forbes magazine ranked Planet Fitness No. While at Dunkin Brands, he helped lead the technology team that rolled out mobile ordering across 9,000 locations. Planet Fitness Fitness clubs 2023 Franchise 500 Rank #28 Ranked #7 last year See the Full List Initial investment $1.6M - $4.9M Units as of 2022 2,324 25.0% over 3 years Jump to Franchising. We now have: 2,400+ locations open (and we're just getting started!) Before joining NerdWallet, he served as senior editorial manager of QuinStreet's insurance sites and managing editor of Insure.com. Currently, the Planet Fitness franchise has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. - In Canadian currency, the investment comes around Can$ 1,231,300 to Can$ 5,387,800. [25][26] The company went public on August 6, 2015. 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. Initial franchise fee: $32,000 to $40,000, Estimated total initial investment: $2.2 million to $5 million. Wed recommend meeting with your bank or accountant to help you determine which franchise is financially doable for you right now. This routine is an 18-minute HIIT workout that targets cardio and endurance. 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? 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. Building in competition to workouts enhances ones motivation and keeps consumers coming back. That said, Orangetheory is designed for people of all fitness levels, since participants can go entirely at their own pace. 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. The number of fitness franchise locations has been steadily increasing to a total of about 2,039. . ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. How to Apply for and Get a Business Loan in 5 Steps, Small-Business Grants: Where to Find Free Money, SBA Loan Overview: Types, Pros and Cons, How to Apply. 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. This is a good indication of high growth as a company overall. Prior to joining Planet Fitness, Ms. Simmons worked in Finance and Business Planning roles for Timberland, PepsiCo, and Fisher Scientific International. Franchise fee: one-time $10,000 for a 10-year renewable agreement. Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. Lets get started. Its the easiest way to get honest reviews from franchisees that have already invested in the franchise opportunities youre considering buying. [36], The company reports that as of 2019, there are 80 corporate-owned gyms, the rest independently owned and operated. Prior to Sonus, he worked for more than 10 years in public accounting with both Deloitte and Touche and Arthur Andersen. -In thousands and rounded; represents electronic funds presented for draft for the 12 months of calendar year 2019 and 2020, respectively. [39][29][40], In December 2014, Planet Fitness opened its first international location in Toronto, Ontario, Canada. The Planet Fitness franchise was founded in 1992 and has been franchising since 2003. That said, franchisees are responsible for additional costs, including a monthly continuing franchise fee (CFF) of either 20% of gross revenue or at least $250 per month. Initial franchise terms are 10 years. 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. 2- Based on a midpoint investment of $3,273,300 with estimated profits of $154,587 at a 10% profit margin, it would take about 21 years to recoup your investment. Disclaimer: NerdWallet strives to keep its information accurate and up to date. Investing in an Orange Theory franchise is an interesting opportunity, especially for individuals looking to make their way into the Fitness industry. 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. In this role, he has overall leadership and accountability of the brands primary revenue producing business segments, including U.S. and international franchise operations and development, equipment sales, and Corporate stores, in addition to both the technology and legal functions. 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. Franchise candidates can expect to pay anywhere between $354k to $1.2m. 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. Call (888) . She has also held editing roles at LearnVest, a personal finance startup, and its parent company, Northwestern Mutual. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. 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. Initial term lengths last 10 years. [48], Since December 2014, Planet Fitness has been the official fitness sponsor of Dick Clark's New Year's Rockin' Eve on ABC. Bode held several senior leadership positions at Dunkin' Brands, including serving as Regional Vice President of Dunkin' Donuts Northeast where he was responsible for overseeing the operations of more than 2,600 restaurants. Estimated total initial investment: $1 million to $4.1 million. Due Date: Paid monthly and annually. If you own and operate multiple Planet Fitness businesses in the same market area and LAF spending for them is combined. Assistant Assigning Editor | Small-business finance, personal finance. Burn Boot Camp As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. Benson, who co-founded the former Cabletron Systems, once the . The franchise requires that candidates have access to over $90,000 in liquid capital, and a minimum net worth of $300,000.