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 . Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. Chris Rondeau has served as the Chief Executive Officer of Planet Fitness since January 2013. Browse 1000s of reports on 1000s of franchise systems. Review the chart below to see how much it costs to buy a Planet Fitness franchise in 2022. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. Both of these fitness companies, while they differ in business models, use your own fitness data and others to create a competitive atmosphere. 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). United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. [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. [10][7], Berks had started his own Planet Fitness gym in 1993 in Sunrise, Florida, and eventually expanded it to three clubs, along with a Gold's Gym franchise. [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. These figures are estimates based on Planet Fitness and its affiliates experience in operating locations. Ms. Kaplan holds a B.S. This large discrepancy indicates the potential different costs you could face when building your Orange Theory franchise as a franchisee. While at Dunkin Brands, he helped lead the technology team that rolled out mobile ordering across 9,000 locations. $10,000, plus our reasonable out-of-pocket expenses, including external legal and administrative costs we incur in connection with the transfer. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. 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. [49] [50], Since 2015, Planet Fitness has been a personal sponsor of NASCAR driver and champion Joey Logano. [28] It ranked in the top 50 of Entrepreneur magazine's Franchise 500 in 2017. The Initial Franchise Fee is uniform and non-refundable. The gym utilizes a "lunk alarm", which is a loud siren and rotating light that is used when a gymgoer grunts too loudly or drops weights. "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." [56][57][58] Planet Fitness has also provided mini "Judgement Free Zone" gyms to Boys & Girls Clubs in Manchester, New Hampshire[59] and Pasadena, California. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. Initial franchise fee: $54,950 to $59,950, Estimated total initial investment: $563,529 to $999,121. The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. Co-founder, Elle Latham, decided to open a gym to implement her personally designed workout, which eventually became the basis for Orange Theorys system. Planet Fitness franchise opportunities are proven by 1,500 clubs successfully operating worldwide. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. This information may be different than what you see when you visit a financial institution, service provider or specific products site. There are both advantages and disadvantages of franchising, so make sure you weigh both sides thoroughly. Mind that the franchise requirements for sale could be different depending on the format and scope of business. Initial investments: $969,600 - $4,242,500 Net Worth Requirement: $3,000,000 Liquid Cash Requirement: $1,500,000 Estimated Initial Investment We started our business in 1992 and refined our brand for a decade or so before franchising in 2003. The number of fitness franchise locations has been steadily increasing to a total of about 2,039. . Prior to Sonus, he worked for more than 10 years in public accounting with both Deloitte and Touche and Arthur Andersen. Here is a list of our partners and here's how we make money. 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. Due Date: Expended according to Planet Fitness Methods of Operations as per your advertising budget. 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. If you own and operate multiple Planet Fitness businesses in the same market area and LAF spending for them is combined. Thanks to that near-legendary status in the fitness world, and their loyal customers. Initial franchise terms are 10 years. For example, this includes replacing your cardio equipment every 5 years and replacing your non-cardio equipment every 7 years. Our opinions are our own. 4. Airfare, ground transportation, meals, lodging, Government agencies and bonding companies, Payroll, debt services, ongoing pre-sale/grand opening marketing, and cash to cover miscellaneous day-to-day expenses, Estimated Selling Price = Net Sales * 0.67, Estimated Selling Price = Net Sales * 1.21. 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. You are going to downgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. Currently, the Planet Fitness franchise has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. The franchise also requires that candidates have at least $100,000 in combined liquid assets and a total net worth of at least $250,000. Franchise Sales Manager Planet Fitness 4 Liberty Lane West Hampton, NH 03842 Phone: (603) 750-0001 You must be logged in to view this form. 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. The Fitness Center industry has over 111,000 businesses with a market size of $34 billion, and it supports over 800,000 jobs. 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. You'll build confidence while increasing your fitness knowledge. New franchise owners can also expect to participate in a comprehensive training program, as the franchise requires their franchisees to be certified barre instructors. Planet Fitness businesses are fitness training facilities offering exercise machines and free weights, fitness training services, tanning services . - In Malaysian currency, the investment comes around MYR 3,93 million to MYR 17,21 million. 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. 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. 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 Office Depot, Planet Fitness, Roto Rooter, Starbucks, Taco Bell, Travelers, and United Health Group. 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. ASK QUESTIONS ABOUT THE FRANCHISE, Distributorship Opportunities For Business, the terms of
[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. Planet Fitness estimates the costs to upgrade and/or remodel your facility will range from $70,000 to $600,000 every 5 years. 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. [41][42] In October 2015 the company opened their second international location in Santo Domingo, Dominican Republic. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. [24] Michael Grondahl, co-founder of Planet Fitness stepped down as CEO, and was succeeded by Chris Rondeau. This metric is the standard industry investment amount for a single unit franchise investment in this industry. LearningRx Franchise Corporation 5085 List Drive, #200 Colorado Springs, CO 80919 Phone: (719) 264-8808 Liz Anderson . We now have: 2,400+ locations open (and we're just getting started!) Pure Barre has over 500 open locations across North America with tons of available studio markets in the U.S. Prior to Planet Fitness, Ms. Gosselin worked at Dunkin Brands on the global public relations team. 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. In her role as Chief Brand Officer, she is responsible for leading Planet Fitness brand strategy and working collaboratively with agencies and across the organization to ensure the brand vision comes to life through national and local marketing strategy, creative, brand marketing sponsorships and activations, and social media. He joined Planet Fitness in 2016 as the Senior Vice President of Franchise Operations. [19] According to a Planet Money episode from 2014, "half of the Planet Fitness members don't ever go to their gyms. There are very few reasons why one might want to open a Planet Fitness franchise. Mr. ODonnell holds a CPA and received his Bachelors degree in Accounting from Assumption College in Massachusetts. Have questions? Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing gym franchises in the United States. Ms. Medeiros received her Bachelors degree from the University of New Hampshire. 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 Mexican currency, the investment comes around Peso 20,19 million to Peso 88,33 million. Orange Theory was ranked 49th in the franchise 500 rankings according to entrepreneur.com. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. 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. Robert Beaupre leads the SMB team at NerdWallet. 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. 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. So how do we make money? On this Wikipedia the language links are at the top of the page across from the article title. Currently, the. Orange Theorys success is quite similar to Pelotons rise to fame. [39][29][40], In December 2014, Planet Fitness opened its first international location in Toronto, Ontario, Canada. All told, their gyms boast over 14 million members worldwide. According to Franchise Direct, the initial franchise fee is $20,000, while the area development fee is $10,000. Of the total gross monthly and annual membership fees payable to you via EFT Dues Draft. 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. Initial Franchise Fee: $20,000
Even if your network of Planet Fitness franchises earns above $% a million, you will not be able to recover costs just by selling it. Prior to that he served as the Chief Operating Officer since 2003. Club Pilates North Shore is a boutique Pilates studio specializing in reformer fusion classes for anyone, at any age or fitness level. 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. 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. . 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. [7] They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. Here is a list of our partners. Estimated total initial investment: $303,000 to $499,850. Prior to joining Planet Fitness, Mr. 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. "[23], In the fall of 2013, TSG Consumer Partners LLC became an equity partner in the Planet Fitness franchise. In fact, in a recent Inc. 5000 list of the 10 fastest growing franchises, four were fitness franchises. Liquid Cash Requirement: $1,500,000. The estimated total investment necessary to begin the operation of an Orange Theory Franchise ranges from $657,542 to $2,105,322. The fitness center industry has grown with the rise in disposable income and demand for a more health-conscious lifestyle among millennials. If a fitness business with a franchise sounds good, heres nine of the most promising options for a gym franchise. [8][9][7] In 2002, they purchased the rights to the name Planet Fitness from Rick Berks and renamed their franchise. subject to maximum fee of $40,000, Concurrently with our granting a successor franchise to you, Actual costs (approximately $1,200 per visit), Cure Period Extension Fee (Franchise Agreement), Paid monthly via EFT on the day designated as your Monthly Membership Billing Day, as defined in our Franchise Agreement, Grace Period Fee (Area Development Agreement), Paid monthly beginning on the first day of the
An offshoot of the (purportedly) $7 billion UFC brand, UFC Gyms offer MMA-inspired personal and specialized training, traditional and fusion martial arts classes, and youth fitness classes. 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. Theyll provide you with a personal support team, comprehensive training, and marketing support over the course of your franchise agreements six-year term (or 10, if youre in California). Ongoing Royalty Fee: $449 - $549/mo. He held multiple store operations positions with P&L responsibility progressing from Store Manager to Regional Manager. Crunchs fees are on the lower end of the scale: Royalty fees are 5% of monthly gross sales, and advertising fees are 2% of monthly gross sales. Prior to that, Ms. Gentilozzi served as Senior Vice President of Human Resources at Aropostale, supporting over 25,000 employees in 1,000 retail locations throughout the U.S., Canada, and Puerto Rico. Both franchising units and company-operated stores have increased. The franchise requires that candidates have access to over $90,000 in liquid capital, and a minimum net worth of $300,000. Planet Fitness has more members and locations than any other fitness brand. 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. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. You'll also benefit from . Franchise fee: one-time $10,000 for a 10-year renewable agreement. However, this ultra-famous franchise is the most expensive on this list, with an estimated upfront investment potentially reaching over $5 million. So long as you are not decided on the fitness industry, we recommend you have a look at other offerings. The Planet Fitness franchise sets itself apart from other gyms by being the "Judgement Free Zone" where everyone can feel comfo. [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.