The fitness center industry has grown with the rise in disposable income and demand for a more health-conscious lifestyle among millennials. Even though the history of barre dates back to 1959, when the discipline was created by former ballerina Lotte Berk, the ballet/Pilates/yoga hybrid saw a huge boom in the 2010s. Their website reads, We are not currently accepting new franchisee applications for US expansion.. Gathering all available information about each potential franchise will help you land on the gym that not only works for you financially, but that also resonates with your lifestyle and values. Due Date: Expended according to Planet Fitness Methods of Operations as per your advertising budget. Initial term lengths last 10 years. The Initial Franchise Fee is uniform and non-refundable. All reactions: 8. Even though its smaller than Pure Barre, The Bar Method franchise is growing quickly: In 2018, The Bar Method saw a 118% growth rate. We offer detailed franchise research and contact data reports. Throughout the years, Chris played a critical role in developing and refining the unique, low-cost/high-value business model and lean operating system that revolutionized both the fitness and franchising industry. Planet Fitness Franchise (Costs + Fees + FDD) | Franchise Direct 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. However, this ultra-famous franchise is the most expensive on this list, with an estimated upfront investment potentially reaching over $5 million. At Yum! Estimated total initial investment: $1 million to $4.1 million. Top Fitness Franchises to Check Out - Franchise How Even if your network of Planet Fitness franchises earns above $% a million, you will not be able to recover costs just by selling it. Classroom Training: 80 hours
* 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. Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). ", "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? He held multiple store operations positions with P&L responsibility progressing from Store Manager to Regional Manager. 1),[16] and in its 2016 ranking of franchises, Forbes magazine ranked Planet Fitness No. 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. They opened a new gym called Coastal Fitness and the Grondahls hired current CEO Chris Rondeau, who was still in college at the time, to run the gyms front desk. Except for signage, Planet Fitness will not require substantial remodeling more often than every 5 years during the term of the Franchise Agreement. from Boston University and an M.B.A. from the University of Denver, Daniels College of Business. Planet Fitness franchisees also compete against other smaller gym and fitness business locations. We were opening our 5th store then. has over 8,900 franchises across the country.
Prior to Sonus, he worked for more than 10 years in public accounting with both Deloitte and Touche and Arthur Andersen. Find other similar franchises in our catalog! In this role, he leads all aspects of our U.S. Planet Fitness, Inc. to Acquire 114 Locations From One of Its Top Call (888) 977-4374. The biggest expenses in the additional costs section are leasehold improvements and construction costs which vary greatly from $1,250,000 to $2,163,000. Verizon Wireless, and Westin, just to name a very few. 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 Ultimately, the only way to know which gym franchise is right for you is to do your own due diligence. 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. Planet Fitness Announces 2019 Franchise Awards 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. Planet Fitness is a profitable business for the franchisor, with retained earnings of $210 million in 2021. [13] The new model was an effort to provide a fitness hub for everyday people. 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. Initial franchise fee: $54,950 to $59,950, Estimated total initial investment: $563,529 to $999,121. [24] Michael Grondahl, co-founder of Planet Fitness stepped down as CEO, and was succeeded by Chris Rondeau. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. Initial investments: $969,600 - $4,242,500
Franchising Since: 2000. Annually Updated with New Owners of Planet Fitness Locations in the USA. [22] In 2010, Men's Health magazine called Planet Fitness "the worst gym in America. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. Planet Fitness franchise was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. Prior to that he served as the Chief Operating Officer since 2003. Lets get started. Initial franchise terms are 10 years. Previously, she served as Head of Marketing and Sales for Zipcar, the worlds leading car-sharing network, where she was a key member of the executive leadership team responsible for demand and revenue generation and all marketing functions. Many of these are one-time fees that are needed to launch the franchise. Ms. Gosselin was named a Top Woman in PR by PR News in 2020. 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 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. Estimated total initial investment: $2,405 to $3,200. Founded in 1992 in Dover, N.H., Planet Fitness is now the fastest-growing full size health club franchise in the United States, and has revolutionized the industry with a combination of extremely . 1,600+ locations open and we're just getting started! This information may be different than what you see when you visit a financial institution, service provider or specific products site. The board of directors at Planet Fitness is as follows: Stephen Spinelli, Jr. (Ph.D.), Chairman Chris Rondeau (CEO) Bernard Acoca Enshalla Anderson Craig Benson Cammie Dunaway Frances Gregg Rathke Christopher Tanco He joined Planet Fitness in 2016 as the Senior Vice President of Franchise Operations. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. The difficult part of this step of the franchise buying due diligence process lies in obtaining a current list of Planet Fitness franchise owners. Estimated total initial investment: $304,500 to $2.1 million. Additional Training: Ongoing training
So long as you are not decided on the fitness industry, we recommend you have a look at other offerings. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. He has covered financial topics as an editor for more than a decade. In this role, he is responsible for all aspects of financial strategy and management. 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. Chris Rondeau has served as the Chief Executive Officer of Planet Fitness since January 2013. 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 1. Share. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. 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. Wed recommend meeting with your bank or accountant to help you determine which franchise is financially doable for you right now. Like. This is a good indication of high growth as a company overall. Owning a. means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. 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. Comment. 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. This article originally appeared on JustBusiness, a subsidiary of NerdWallet. 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. It is reported to be the nations fastest growing fitness center franchise. Planet Fitness Franchise Owners Contact List $ 149 Verified List of Planet Fitness Owners Contact Data We offer the most complete and most accurate mailing/telemarketing list for Planet Fitness franchise owners. They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. [32][33], Planet Fitness started franchising units in 2003. NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer Access|Licenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812, Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc. (CA resident license no.