planet fitness franchise owners list

Planet Fitness franchisees also compete against other smaller gym and fitness business locations. Here is a list of our partners. 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. Paid Grace Period. If you own and operate multiple Planet Fitness businesses in the same market area and LAF spending for them is combined. One of the best ways to thoroughly research a franchise or business opportunity investment before purchasing one is to get feedback from current and former franchisees involved in the franchise system. Mr. Fitzgerald began his career at PepsiCo, where he held various leadership roles in finance and planning. The policy states that "members and guests may use all gym facilities based on their sincere self-reported gender identity. Even after the pandemic hit, it continued to grow at a rate of over 100 units. - In currency of Germany, the investment comes around EUR 805,430 to EUR 3,524,180. Initial term lengths last 10 years. 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. Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. It is reported to be the nations fastest growing fitness center franchise. Estimated total initial investment: $58,870 to $521,437. Annually Updated with New Owners of Planet Fitness Locations in the USA. Franchise candidates can expect to pay anywhere between $354k to $1.2m. Bill Bode serves as Division President, U.S. Planet Fitness Franchise Owners' Salary Your gross monthly take is based on your memberships, which range from $10 to $25 per month for the franchise. With this purchase, which was for an undisclosed amount, United PF's club count has . Royalty fees and advertising fees are generally calculated as a percentage of gross sales in franchise agreements, but Anytime Fitness rates are flat from month to month, which makes it easier for you to plan and organize your expenses. locations around the U.S. as well as Canada and the Dominican Republic. 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. 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. [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. Our opinions are our own. * 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. The estimated total investment necessary to begin the operation of a Planet Fitness Franchise ranges from $1,625,600 $4,921,000. Planet Fitness franchise is growing, and it is growing fast. [48], Since December 2014, Planet Fitness has been the official fitness sponsor of Dick Clark's New Year's Rockin' Eve on ABC. 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. Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. [25][26] The company went public on August 6, 2015. You are going to downgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. Estimated annual transaction costs per location range from $9,000- $72,000, Equal to 50% of our then-current initial franchise fee. However, this ultra-famous franchise is the most expensive on this list, with an estimated upfront investment potentially reaching over $5 million. Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). The initial Planet Fitness Franchise Fee is $20,000. [17], As part of their effort to create a non-intimidating environment, Planet Fitness has alienated many serious weight lifters. Prior to joining Planet Fitness, Mr. Vartanian was a corporate attorney at Devine Millimet. 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. [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. Call (888) 977-4374. [36], The company reports that as of 2019, there are 80 corporate-owned gyms, the rest independently owned and operated. Even more reason to consider investing in a gym franchise? Pre-qualified offers are not binding. Annually Updated with New Owners of Planet Fitness Locations in the USA. Although gym franchises require that the owner has previous management experience, most dont require experience in the fitness industry. [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. You must maintain the franchise premises according to Planet Fitness brand standards. Even though its smaller than Pure Barre, The Bar Method franchise is growing quickly: In 2018, The Bar Method saw a 118% growth rate. Subscribe to our newsletters and keep up-to-date with the latest news in the franchise industry. [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. There are tons of gym franchises seeking new location owners, but this list represents nine of the most promising gym franchises on the market right nowbased mainly on name recognition, growth rate, and franchisor support system. This information may be different than what you see when you visit a financial institution, service provider or specific products site. 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. In fact, in a recent Inc. 5000 list of the 10 fastest growing franchises, four were fitness franchises. In other words, franchising takes most of the heavy lifting off your shoulders. The franchise has since modernized their routines and worked Pilates, yoga, hip hop, kickboxing, and strength training into their classes, which they claim can burn up to 800 calories in one hour. | United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. They provide an affordable, high-quality fitness experience in a welcoming environment. 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. Benson, who co-founded the former Cabletron Systems, once the . This influences which products we write about and where and how the product appears on a page. In this role, he has overall leadership and accountability of the brands primary revenue producing business segments, including U.S. and international franchise operations and development, equipment sales, and Corporate stores, in addition to both the technology and legal functions. Ongoing Royalty Fee: $449 - $549/mo. The fitness center industry has grown with the rise in disposable income and demand for a more health-conscious lifestyle among millennials. We got you! Comment. 1 comment. You'll build confidence while increasing your fitness knowledge. Planet Fitness (PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. This investment is much higher than the industry standard of $253,000. Due Date: Expended according to Planet Fitness Methods of Operations as per your advertising budget. 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. So long as you are not decided on the fitness industry, we recommend you have a look at other offerings. [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. [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. Find other similar franchises in our catalog! "[21] Planet Fitness has been criticized for prohibiting certain weightlifting exercisessuch as deadlifts and clean-and-jerksthat many experts believe are highly effective. 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 franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. Ms. Medeiros has been instrumental in developing and refining Planet Fitness marketing strategy and differentiated Judgement Free positioning in the fitness industry. Sherrill Kaplan joined Planet Fitness in June 2021 as Chief Digital Officer. In her role as Division President, Corporate Clubs, Ms. Simmons will be responsible for leading the Company's Corporate Club portfolio including driving overall performance, leading and developing the team, and identifying strategic growth and expansion opportunities of the brand's corporate store fleet, which consists of more than 200 locations across 14 states and Canada. Planet Fitness franchise opportunities are proven by 1,500 clubs successfully operating worldwide. Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. 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. Of the total gross monthly and annual membership fees payable to you via EFT Dues Draft. Wed recommend meeting with your bank or accountant to help you determine which franchise is financially doable for you right now. Our partners cannot pay us to guarantee favorable reviews of their products or services. Ms. Gentilozzi is a certified Senior Professional in Human Resources (SPHR). 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. 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). 1- Based on a midpoint investment of $3,273,300 with estimated profits of $77,293 at a 5% profit margin it would take about 42 years to recoup your investment. Have questions?

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