planet fitness franchise owners list

The fitness center industry has grown with the rise in disposable income and demand for a more health-conscious lifestyle among millennials. [43], With the addition of a Planet Fitness outlet in Hawaii in January 2018,[44] Planet Fitness had 1,500 locations with an estimated 10 million members across 50 states, the District of Columbia, the Dominican Republic, Mexico, and Panama[45] and Canada. Mr. ODonnell has nearly 20 years of experience in a variety of finance and accounting roles. 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. Except for signage, Planet Fitness will not require substantial remodeling more often than every 5 years during the term of the Franchise Agreement. Get in touch with Planet Fitness Owners from around the US with verified contact data for all owners of all Planet Fitness locations. . Estimated Number of Units: 2,300. The U.S. has the biggest Fitness market in the world, both in terms of revenue and in the number of members enrolled in a fitness facility. 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 Plus, that smaller pool of franchisees means each one receives more personalized support from the company. Previously, he was the Chief Technology Officer at Airline Report Corporation, where he modernized the technology needed to process billions of dollars in payments annually. 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. 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 this role, he will lead the Companys technology evolution and strategy, focused on delivering technology solutions that will continue to enhance the member experience while optimizing infrastructure, data and operations for flexibility and scale. 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. However, this does not influence our evaluations. This is a good indication of high growth as a company overall. It is important to talk to other franchisees and see what their costs were for leasehold improvements and construction. In other words, franchising takes most of the heavy lifting off your shoulders. 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. Golds Gym also requires that potential franchisees have a minimum of $1 million in net worth and $400,000 in liquid assets. Mind that the franchise requirements for sale could be different depending on the format and scope of business. [47], In March 2013, Planet Fitness partnered with 50 Cent to sell his energy drink "Street King". 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 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. 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. The initial Planet Fitness Franchise Fee is $20,000. 6.4 miles away from Planet Fitness. Planet Fitness Franchise Cost The estimated total investment necessary to begin the operation of a Planet Fitness Franchise ranges from $1,625,600 - $4,921,000. "[20] In 2003, Planet Fitness opened its first franchised location in Florida, with Eric Dore and Shane McGuiness. SVP Communications and Corporate Social Responsibility, General Counsel and SVP, International Division. Planet Fitness franchise was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. The minimum net worth required to own an Orange Theory franchise is $500,000 and the applicant must have liquid assets of at least $150,000. In this role, he leads all aspects of our U.S. In this role, he oversees the Companys accounting and treasury functions. She received her Bachelors degree from Eastern Connecticut State University. Club Pilates North Shore is a boutique Pilates studio specializing in reformer fusion classes for anyone, at any age or fitness level. In this role, she is responsible for driving our digital vision and strategy, including leading the continuous enhancement of our mobile app, with a focus on consumer engagement, loyalty and a differentiated omni-channel experience to accelerate Planet Fitness growth and success. Based on a midpoint investment of $1,378,500 with estimated profits of $94,820 (10% profit margin) it would take about 15 years to recoup your investment. Many of these are one-time fees that are needed to launch the franchise. Bode was also responsible for U.S brand compliance and business development along with leadership positions overseeing training, store development, marketing, and franchising. Jamie Medeiros joined Planet Fitness in 2000, where she worked at the front desk in the Companys third location before transitioning to the Planet Fitness corporate marketing team. locations around the U.S. as well as Canada and the Dominican Republic. Of the total gross monthly and annual membership fees payable to you via EFT Dues Draft. 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. Planet Fitness | Judgement Free Zone | Gym and Fitness Club Initial term lengths last 10 years. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. Estimated annual transaction costs per location range from $9,000- $72,000, Equal to 50% of our then-current initial franchise fee. Bringing Franchise Owners Together to Share and Grow. In this role, she is responsible for all aspects of the companys internal and external communications, including public relations, crisis management, executive communications, philanthropy, community relations and sustainability. $10,000, plus our reasonable out-of-pocket expenses, including external legal and administrative costs we incur in connection with the transfer. Estimated total initial investment: $2,405 to $3,200. Robert Beaupre leads the SMB team at NerdWallet. Planet Fitness is a profitable business for the franchisor, with retained earnings of $210 million in 2021. 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 must maintain the franchise premises according to Planet Fitness brand standards. Even more reason to consider investing in a gym franchise? 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. Owning a fitness franchise is a fantastic way to enter into the multi-billion dollar fitness industry. Pre-qualified offers are not binding. How Much Does A Planet Fitness Owner Make? - drfranchises.com In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. [60], In October 2017, Planet Fitness and its members raised $1 million which it donated to the non-profit Boys and Girls Clubs of America. Headquarters: Hampton, New Hampshire. Today, there are Planet Fitness franchise locations around the U.S. as well as Canada and the Dominican Republic. The Area Development Fee is in addition to the then-current Initial Franchise Fee due for each location at the time the Franchise Agreement for that location is executed. Planet Fitness Gym - Franchise Solutions Both franchising units and company-operated stores have increased. Planet Fitness Franchise Costs, Fees, Revenues, Profits (2022 Review) Planet Fitness (PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. Initial franchise terms are 10 years. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. Who Owns Planet Fitness? (Franchise, CEO & More) - Trusty Spotter "[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. 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. With that in mind, Planet Fitness franchisees will need to pay for that international brand recognitionopening a Planet Fitness franchise may cost over $4 million. Orangetheory Fitness provides a totally unique (and seriously hard) group workout experience. 1. [25][26] The company went public on August 6, 2015. The Grondahls changed the gyms name to Planet Fitness in 1994. The most popular workout model from Snap Fitness is known as MYFIT. Mr. Hymes has over 30 years of experience leading domestic and international retail, franchise, and e-commerce businesses for global companies, most recently serving as the President and Chief Executive Officer of Jiffy Lube International. Largest Planet Fitness Franchisee Group Acquired by New York Private - In Canadian currency, the investment comes around Can$ 1,231,300 to Can$ 5,387,800. 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. Now, youd be hard-pressed to find a gym franchise that doesnt offer some form of barre class, but owning a. takes you straight to the source. 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. Additional Training: Ongoing training Planet Fitness Franchise (Costs + Fees + FDD) | Franchise Direct Franchising | Planet Fitness Planet Fitness Franchise Owners Contact List Initial franchise terms are 10 years. Planet Fitness - Wikipedia According to their website, Pure Barre is the oldest and most established barre studio out there. As can be seen, Planet Fitness stock has outpaced the S&P 500 by almost 2x. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. Mr. Rondeau also received an honorary doctorate degree from Philadelphia University and received the Universitys honorary innovation medal. By contacting current franchise owners and asking about their experience with the franchised business, the earnings and/or success thus far, training and support from the franchisor, Pla-FitFranchise, and whether or not they would buy the franchise again if they could do it all over again, you can learn what its really like to own a Planet Fitness business before you actually purchase a franchise. You'll also benefit from . 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. Prior to joining Planet Fitness, Mr. We provide estimated franchise costs for some countries: Follow along as PF Trainer Teddy teaches you the basics of fitness, right in the comfort of your own home. Your actual costs may be higher or lower depending on the size of your Planet Fitness business, the volume, and usage of your members, or changes in the market. Find other similar franchises in our catalog! "[22], As early as March 2015, the "Judgement Free Zone" policy was expanded to allow trans women to use the women's locker room. Due Date: Paid monthly and annually. There are both advantages and disadvantages of franchising, so make sure you weigh both sides thoroughly. 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. Co-founder, Elle Latham, decided to open a gym to implement her personally designed workout, which eventually became the basis for Orange Theorys system. 1,600+ locations open and we're just getting started! FranchiseComplaints.org Our opinions are our own. Estimated total initial investment: $58,870 to $521,437. Franchise Owners Contact Lists - FranchiseComplaints.org Mr. Fitzgerald began his career at PepsiCo, where he held various leadership roles in finance and planning. Owner WIRED Telcom 159 W 1st Street Oswego, NY 13126 Phone: (315) 326-3350 . Ms. Gosselin was named a Top Woman in PR by PR News in 2020. 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. To be eligible to open a. , candidates must have at least $1 million in net worth and access to $300,000 to $400,000 in liquid assets. Initial investments: $969,600 - $4,242,500 Previously, she was an editor at Fundera, where she developed service-driven content on topics such as business lending, software and insurance. 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. As a franchise owner, youll benefit from a proven business model, brand recognition, existing customer base, vendor network, and robust franchisee support system. Franchising Since: 2000. 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. [61], In January 2020, Planet Fitness partnered with The Biggest Loser to be the official sponsor of the show's 2020 reboot.[62]. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. Initial franchise fee: $32,000 to $40,000, Estimated total initial investment: $2.2 million to $5 million. Then, the last four workouts in the program will take place in the gym and you'll learn how . She has also held editing roles at LearnVest, a personal finance startup, and its parent company, Northwestern Mutual. Kick off your search with this list of nine of the most promising gym franchises to buy. The Area Development Fee is uniform and non-refundable. Even if your network of Planet Fitness franchises earns above $% a million, you will not be able to recover costs just by selling it. 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. Kathy Gentilozzi joined Planet Fitness in 2019 as the Companys Chief People Officer. 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. It is reported to be the nations fastest growing fitness center franchise. Planet Fitness franchise is growing, and it is growing fast. The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. Overall, Planet Fitness is making a decent amount of profit, and we also see that the profit chart . has over 8,900 franchises across the country. Franchise. Participants are given heart-rate monitors, and their results are displayed on screens throughout the room over the course of this hour-long, interval-based, coach-led workout. All financial products, shopping products and services are presented without warranty. After establishing a strong reputation across the fitness industry, Latham decided to seek a larger challenge and transitioned from the study of physiology to owning a gym that implemented a business model that remains in place across all studios to this day: offering trainer-led group workout sessions, which are broken into intervals of cardiovascular and strength training. An innovative entrepreneur, Mr. Rondeau was honored as an EY Entrepreneur of the Year and inducted into the UNH Alumni Entrepreneur Hall of Fame. These numbers indicate that potential earnings can vary significantly, and it depends on factors such as locations and how well the business is run. 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. Your Royalty payment is currently based on the total gross monthly and annual membership fees for the, You must maintain your equipment according to, Your actual costs may be higher or lower depending on the size of your, You must maintain the franchise premises according to, Franchise Disclosure Document (FDD) Database, Your Lender; Approved Suppliers; Our Affiliate, Paid to various media companies and other third parties to promote the opening of your business, Computer System, Point of Sale System, and other Supplies, Utilities, banks/credit card companies, leased equipment vendors, alarm company, telephone company, Your Out-of-Pocket Initial Training Expenses. We got you! 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. Prior to joining Dunkin' Brands, he was a Dunkin' Donuts franchisee in Richmond, VA. Tom Fitzgerald joined Planet Fitness in 2020 as the Companys Chief Financial Officer. service, Computer System. Orange Theory was ranked 49th in the franchise 500 rankings according to entrepreneur.com. The Fitness Center industry has over 111,000 businesses with a market size of $34 billion, and it supports over 800,000 jobs. The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. For those looking to get started with a Planet Fitness franchise, it's important to factor in all of these costs so that you have a clear understanding of the total investment required. Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. [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. Brian ODonnell joined Planet Fitness in February 2016 and currently serves as VP, Chief Accounting Officer. 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. "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." Initial Franchise Fee: $20,000 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. Paid by you to advertisers or Planet Fitness if it elects to collect from you.