3- Based on a midpoint investment of $3,273,300 with estimated profits of $831,881 at a 15% profit margin, it would take about 14 years to recoup your investment. After four years the Initial Franchise Fee for each location opened under the Area Development Agreement will be equal to then-current Initial Franchise Fee being charged to new franchisees. [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. [48], Since December 2014, Planet Fitness has been the official fitness sponsor of Dick Clark's New Year's Rockin' Eve on ABC. 4 Liberty Ln. This model has become extremely sticky in the fitness industry because while many people want to achieve their fitness goals, they innately lack motivation. Our opinions are our own. Join now to become a registered PFIFC member and gain access to a wealth of information that will help you succeed as a Planet Fitness owner. - In currency of the United Kingdom, the investment comes around 694,900 to 3,040,600. All reactions: 8. Planet Fitness is a profitable business for the franchisor, with retained earnings of $210 million in 2021. * 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. This information may be different than what you see when you visit a financial institution, service provider or specific products site. Across 50 states the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia 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. [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. He joined Planet Fitness in 2016 as the Senior Vice President of Franchise Operations. 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. 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. SVP Communications and Corporate Social Responsibility, General Counsel and SVP, International Division. Currently, the. Ms. Gosselin was named a Top Woman in PR by PR News in 2020. As a result, she has played an instrumental role in the major strategic decisions made by the Company. Browse 1000s of reports on 1000s of franchise systems. In this role, he is responsible for all aspects of financial strategy and management. You must be logged in to view this form. Planet Fitness (PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. Whether youre a gym rat yourself or youre passionate about helping others achieve their health goals, starting a fitness business can be a dream gig for health-conscious entrepreneurs. 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. Franchise Sales Manager Planet Fitness 4 Liberty Lane West Hampton, NH 03842 Phone: (603) 750-0001 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. Bringing Franchise Owners Together to Share and Grow. Planet Fitness growth continued over the next decade and in 2013, TSG Consumer Partners, LLC became an equity partner in the Planet Fitness franchise. locations around the U.S. as well as Canada and the Dominican Republic. Prior to Sonus, he worked for more than 10 years in public accounting with both Deloitte and Touche and Arthur Andersen. Thanks to that near-legendary status in the fitness world, and their loyal customers. [31], While Planet Fitness closed many facilities during the onset of the COVID pandemic, during the Delta and Omicron variants there was not a decrease in gym attendance. Previously, Mr. Fitzgerald served as Chief Administrative Officer of Sears Canada. Planet Fitness Independent Franchisee Council Join Us Today! Estimated total initial investment: $58,870 to $521,437. 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. The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. Your actual costs may be higher or lower depending on the size and location of your Planet Fitness business. 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. Prior to Planet Fitness, Ms. Gosselin worked at Dunkin Brands on the global public relations team. The Planet Fitness franchise sets itself apart from other gyms by being the "Judgement Free Zone" where everyone can feel comfo. [6], In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. 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 [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. Prospective owners are asked to have a minimum net worth of $3 million and a minimum of $1,500,000 in liquid capital. process lies in obtaining a current list of Planet Fitness franchise owners. [36], The company reports that as of 2019, there are 80 corporate-owned gyms, the rest independently owned and operated. Planet Fitness franchise is growing, and it is growing fast. The initial Planet Fitness Franchise Fee is $20,000. | United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. Prior to Dunkin, she worked at various communications agencies in both Boston and Washington, DC on behalf of various leading retail brands. Orange Theory uses your heart rate to show your exertion potential compared to the maximal effort and compares you to your peers in classes. The total investment to open a Planet Fitness gym ranges from $728,290 - $3,777,800. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. 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. Bill Bode serves as Division President, U.S. Ongoing Royalty Fee: $449 - $549/mo. Please scroll down for a partial list of franchise businesses. 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). Plus, that smaller pool of franchisees means each one receives more personalized support from the company. The initial Planet Fitness Franchise Fee is $20,000. We reviewed the larger franchise industry as well as selling price multiples for larger systems where more transaction data is available. [61], In January 2020, Planet Fitness partnered with The Biggest Loser to be the official sponsor of the show's 2020 reboot.[62]. There are very few reasons why one might want to open a Planet Fitness franchise. Franchise candidates can expect to pay anywhere between $354k to $1.2m. The Grondahls changed the gyms name to Planet Fitness in 1994. 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. Pure Barre has over 500 open locations across North America with tons of available studio markets in the U.S. Planet Fitness Initial franchise fee: $20,000 Estimated total initial investment: $1 million to $4.1 million Planet Fitness trademarked the phrase "judgment free zone," so that alone. Here is a list of our partners. Over the last three years, franchises have opened at a rate of 148 units a year. Annually Updated with New Owners of Planet Fitness Locations in the USA. The Fitness Center industry has over 111,000 businesses with a market size of $34 billion, and it supports over 800,000 jobs. - In currency of Germany, the investment comes around EUR 805,430 to EUR 3,524,180. The name came from his daughter's school project, "Fitness Planet". ", "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? The owner of the franchise (the franchisee) is expected to be involved in all aspects of day-to-day operations. Benson, who co-founded the former Cabletron Systems, once the . Even though its smaller than Pure Barre. Fitness centers have experienced sustained growth since the post-economic crisis in 2009. From the start, Planet Fitnesswas an inclusive, non-intimidating gym and in 1997, Planet Fitness officially unveiled its Judgement Free Zone philosophy. -In thousands and rounded; represents electronic funds presented for draft for the 12 months of calendar year 2019 and 2020, respectively. The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. This covers the cost of being able to use their name and logo. [14] Berks later went on to open the first Youfit Health Club in St. Petersburg, Florida. [28] It ranked in the top 50 of Entrepreneur magazine's Franchise 500 in 2017. If you own and operate multiple Planet Fitness businesses in the same market area and LAF spending for them is combined. Planet Fitness franchise is one of the largest fitness US chains by a number of members and locations. [34] The royalty fee for a Planet Fitness is 7% of the total gross monthly and annual membership fees. 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). Even more reason to consider investing in a gym franchise? As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states.
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