planet fitness franchise owners list

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 . This information may be different than what you see when you visit a financial institution, service provider or specific products site. Robert Beaupre leads the SMB team at NerdWallet. Both within the fitness industry and American culture at large, Golds Gym has become legendary for their famous members (including Arnold Schwarzenegger) and their status as the mecca of bodybuilding. Since their founding by a Merchant Marine veteran in 1965, the Los Angeles-based gym has opened over 700 gyms in 29 states and 29 countries, and their international membership is 3 million devotees strong. 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. [46], Planet Fitness reported that it has around 2,400 gyms worldwide with a total membership of 17 million, generating an annual revenue of $936.8 million at the end of 2022. The concept currently has over 1,000 franchises in the United States and another 150 international locations and is a subsidiary of Ultimate Fitness Holdings. According to Franchise Direct, the initial franchise fee is $20,000, while the area development fee is $10,000. 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? Mr. Fitzgerald has over 30 years of leadership experience in financial management in the retail industry, most recently serving as Chief Financial Officer and Senior Vice President at Potbelly Sandwich Works. He began working at Shell in 2001, holding broad and diverse roles including strategy, business development, project management, and deal delivery. Planet Fitness ( PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. 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. The more franchises you own, the more earning potential you have as private equity firms become interested in your business instead of individual owner-operators. Before joining NerdWallet, he served as senior editorial manager of QuinStreet's insurance sites and managing editor of Insure.com. She received her Bachelors degree from Eastern Connecticut State University. This routine is an 18-minute HIIT workout that targets cardio and endurance. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. "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." "[23], In the fall of 2013, TSG Consumer Partners LLC became an equity partner in the Planet Fitness franchise. Franchising began one year later, and today Orange Theory studios can be found in 18 countries, and across 49 states. Additional Training: Ongoing training Have questions? 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. | United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. Join PFIFC In this role, she oversees general HR operations, talent acquisition, leadership development, business partner support, culture and employee engagement, benefits and compensation. This metric is the standard industry investment amount for a single unit franchise investment in this industry. Initial investments: $969,600 - $4,242,500 This could be an indicator that franchisees are doing really well. Then, the last four workouts in the program will take place in the gym and you'll learn how . When evaluating offers, please review the financial institutions Terms and Conditions. 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. The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. We reviewed the larger franchise industry as well as selling price multiples for larger systems where more transaction data is available. has opened over 4,000 locations on all seven continents. You have to pay this upfront fee when opening a Planet Fitness franchise. According to their website, Pure Barre is the oldest and most established barre studio out there. Although gym franchises require that the owner has previous management experience, most dont require experience in the. Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. Many or all of the products featured here are from our partners who compensate us. [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. 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. Net Worth Requirement: $3,000,000 Fitness centers have experienced sustained growth since the post-economic crisis in 2009. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. You must be logged in to view this form. subject to maximum fee of $40,000, Concurrently with our granting a successor franchise to you, Actual costs (approximately $1,200 per visit), Cure Period Extension Fee (Franchise Agreement), Paid monthly via EFT on the day designated as your Monthly Membership Billing Day, as defined in our Franchise Agreement, Grace Period Fee (Area Development Agreement), Paid monthly beginning on the first day of the Mr. Fitzgerald began his career at PepsiCo, where he held various leadership roles in finance and planning. Find Accurate Contact Data for Fitness Franchise Owners. Previously, Mr. Fitzgerald served as Chief Administrative Officer of Sears Canada. LearningRx Franchise Corporation 5085 List Drive, #200 Colorado Springs, CO 80919 Phone: (719) 264-8808 Liz Anderson . Owning a fitness franchise is a fantastic way to enter into the multi-billion dollar fitness industry. Disclaimer: NerdWallet strives to keep its information accurate and up to date. Orange Theorys success is quite similar to Pelotons rise to fame. She received her Bachelors degree in Public Communications from American University in Washington, DC, and served on the Board of Directors for the Boys & Girls Clubs of Manchester, NH. Participants are given heart-rate monitors, and their results are displayed on screens throughout the room over the course of this hour-long, interval-based, coach-led workout. We were opening our 5th store then. We believe everyone should be able to make financial decisions with confidence. Both of these fitness companies, while they differ in business models, use your own fitness data and others to create a competitive atmosphere. Currently, the Orangetheory franchise has over 1,100 studios in 49 U.S. states and 22 countries internationally (they started in 2010, for some context about just how quickly theyre growing). This covers the cost of being able to use their name and logo. - In Canadian currency, the investment comes around Can$ 1,231,300 to Can$ 5,387,800. The Area Development Fee is uniform and non-refundable. in Pilates. Gym franchises dont get much more classic than Jazzercise, the high-intensity, dance-cardio fusion class that became a fitness mainstay during the 80s exercise boom. You are going to upgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. [32][33], Planet Fitness started franchising units in 2003. 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. 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. Use this opportunity to ask qualitative questions that you wouldnt necessarily have answered through the FDD, or from the franchisors marketing materialslike how happy they are with the initial training and ongoing support they receive, and their opinions about the overall outlook of the business. That said, Orangetheory is designed for people of all fitness levels, since participants can go entirely at their own pace. You must maintain the franchise premises according to Planet Fitness brand standards. Former Gov. [6], In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. [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 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? 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. Kick off your search with this list of nine of the most promising gym franchises to buy. ASK QUESTIONS ABOUT THE FRANCHISE, Distributorship Opportunities For Business, the terms of The name came from his daughter's school project, "Fitness Planet". 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. You have to pay this upfront fee when opening a Planet Fitness franchise. Mr. Barber holds a B.S. Mr. ODonnell holds a CPA and received his Bachelors degree in Accounting from Assumption College in Massachusetts. service, Computer System. locations around the U.S. as well as Canada and the Dominican Republic. When evaluating offers, please review the financial institutions Terms and Conditions. Franchise. She has also held editing roles at LearnVest, a personal finance startup, and its parent company, Northwestern Mutual. From there, youll receive additional materials to help inform your decision, including the all-important franchise agreement, including the franchise disclosure document (FDD). 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. He joined the Company as General Counsel in 2014 and played a critical role in the Companys initial public offering in August of 2015, and has since overseen all public company, corporate governance and franchising matters as a key member of the companys leadership team.