planet fitness franchise owners list

Investing in an Orange Theory franchise is an interesting opportunity, especially for individuals looking to make their way into the Fitness industry. Planet Fitness Independent Franchisee Council Join Us Today! We now have: 2,400+ locations open (and we're just getting started!) United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. Planet Fitness offers people the opportunity to be a part of the fitness business, but we do not believe this is sustainable. As a result, she has played an instrumental role in the major strategic decisions made by the Company. [54][55] Also in 2016, the company donated more than $1 million to the program. You have to pay this upfront fee when opening a Planet Fitness franchise. This information may be different than what you see when you visit a financial institution, service provider or specific products site. [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. 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. She received her Bachelors degree from Eastern Connecticut State University. 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. [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. Although gym franchises require that the owner has previous management experience, most dont require experience in the fitness industry. [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. Club Pilates North Shore is a boutique Pilates studio specializing in reformer fusion classes for anyone, at any age or fitness level. 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. 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. If a fitness business with a franchise sounds good, heres nine of the most promising options for a gym franchise. HAMPTON, N.H., Jan. 11, 2022 - Planet Fitness, Inc. (NYSE: PLNT ), one of the largest and fastest-growing franchisors and operators of fitness centers with more members than any other fitness brand, announced today it has signed a definitive agreement to acquire Sunshine Fitness Growth Holdings, LLC ("Sunshine Fitness"), a leading owner and This information may be different than what you see when you visit a financial institution, service provider or specific products site. Estimated Number of Units: 2,300. Over the last three years, franchises have opened at a rate of 148 units a year. 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. 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. At that time, Michael Grondahl stepped down as CEO and Chris Rondeau took his place and has held the position since. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. Initial term lengths last 10 years. 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. Ms. Gentilozzi is a certified Senior Professional in Human Resources (SPHR). process lies in obtaining a current list of Planet Fitness franchise owners. This article originally appeared on JustBusiness, a subsidiary of NerdWallet. Youre about to cancel your subscription. Mr. Barber holds a B.S. Currently, the. This is a good indication of high growth as a company overall. [61], In January 2020, Planet Fitness partnered with The Biggest Loser to be the official sponsor of the show's 2020 reboot.[62]. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. 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. Franchise candidates can expect to pay anywhere between $354k to $1.2m. "[23], In the fall of 2013, TSG Consumer Partners LLC became an equity partner in the Planet Fitness franchise. This large discrepancy indicates the potential different costs you could face when building your Orange Theory franchise as a franchisee. 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. Mr. ODonnell has nearly 20 years of experience in a variety of finance and accounting roles. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. Mr. Fitzgerald began his career at PepsiCo, where he held various leadership roles in finance and planning. Lead Assigning Editor | Small business finances, investing, banking. So long as you are not decided on the fitness industry, we recommend you have a look at other offerings. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105. This investment is much higher than the industry standard of $253,000. In fact, in a recent Inc. 5000 list of the 10 fastest growing franchises, four were fitness franchises. . If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Ms. Medeiros received her Bachelors degree from the University of New Hampshire. Our partners cannot pay us to guarantee favorable reviews of their products or services. Verizon Wireless, and Westin, just to name a very few. At the moment we can not connect you to the representative of this franchise. 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. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. It is reported to be the nations fastest growing fitness center franchise. Our partners compensate us. Initial franchise terms are 10 years. This is significantly lower than the midpoint investment of $3,273,500. 4. Jennifer Simmons joined Planet Fitness in 2013 as a business analyst, later joining the executive leadership team as Senior Vice President of Business Strategy and Analytics and in 2022 was named Division President, Corporate Clubs. Share. [51] In April 2022, Planet Fitness appeared as a sponsor on a race truck for the first time in the 2022 Pinty's Truck Race on Dirt with Logano driving the truck. [47], In March 2013, Planet Fitness partnered with 50 Cent to sell his energy drink "Street King". 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. Orangetheory Fitness provides a totally unique (and seriously hard) group workout experience. Mr. Hymes started his career at Kmart Corporation, where he worked his way up the ranks starting as an hourly store team member and entered management after graduating with a Marketing degree from Northwest Missouri State University. Office Depot, Planet Fitness, Roto Rooter, Starbucks, Taco Bell, Travelers, and United Health Group. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. 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. Call us direct at (855) 822-0912, Get Contact Details & Mailing List of Planet Fitness Franchisees, The difficult part of this step of the franchise buying due diligence. Prior to Sonus, he worked for more than 10 years in public accounting with both Deloitte and Touche and Arthur Andersen. has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. Both of these fitness companies, while they differ in business models, use your own fitness data and others to create a competitive atmosphere. Estimated total initial investment: $304,500 to $2.1 million. Ms. Kaplan holds a B.S. Net Worth Requirement: $3,000,000 "[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. [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. Mr. Rondeau also received an honorary doctorate degree from Philadelphia University and received the Universitys honorary innovation medal. Overall, Planet Fitness is making a decent amount of profit, and we also see that the profit chart . [41][42] In October 2015 the company opened their second international location in Santo Domingo, Dominican Republic. Even if your network of Planet Fitness franchises earns above $% a million, you will not be able to recover costs just by selling it. Mind that the franchise requirements for sale could be different depending on the format and scope of business. 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. This covers the cost of being able to use their name and logo. Franchise fee: one-time $42,500 Royalty fees: $699/mo Planet Fitness Planet fitness has locations in Canada, Mexico, Panama, and all 50 states of the US. Bill Bode serves as Division President, U.S. LearningRx Franchise Corporation 5085 List Drive, #200 Colorado Springs, CO 80919 Phone: (719) 264-8808 Liz Anderson . 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. Currently, the Orangetheory franchise 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). Orange Theory uses your heart rate to show your exertion potential compared to the maximal effort and compares you to your peers in classes. Find other similar franchises in our catalog! Brian ODonnell joined Planet Fitness in February 2016 and currently serves as VP, Chief Accounting Officer. [29], In 2020, the company received criticism for charging its customers for March dues "despite closing its facilities nationwide due to the novel coronavirus pandemic.

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