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. [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. Burn Boot Camp [47] The contestants on the show worked out on Planet Fitness equipment and then at Planet Fitness gyms near their homes, working with Planet Fitness instructors. Planet Fitness estimates the total costs to re-equip your facility with both cardio equipment and all other exercise equipment will range from $314,000 to $922,000 every 5 to 7 years. Franchise. While this may be the business for you, make sure also to check out other companies offered on Vetted Biz and in the Fitness Industry. 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). Initial franchise fee: $54,950 to $59,950, Estimated total initial investment: $563,529 to $999,121. 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. The chain has over a thousand locations with over 400 units outside the US. 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. 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. By becoming a franchise owner, you can benefit from a proven business model, existing customer base, and franchisee support system. [52], In March 2016, Planet Fitness partnered with STOMP Out Bullying,[53] a national organization dedicated to bullying prevention, and the Boys & Girls Clubs of America to launch the company's national philanthropic initiative to address bullying, The Judgement Free Generation. Year Business Began: 1992. 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. ", "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? Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). 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. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. Comment. At Jiffy Lube, he oversaw the strategic direction of the company, and managed franchise relationships to create a shared vision for the brand, drive network growth, and maintain Jiffy Lubes leading market share. At that time, Michael Grondahl stepped down as CEO and Chris Rondeau took his place and has held the position since. Before the pandemic, it was growing at a rate of approximately 200 units a year, which is impressive. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. Estimated total initial investment: $58,870 to $521,437. You are going to upgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. This covers the cost of being able to use their name and logo. The Fitness Center industry has over 111,000 businesses with a market size of $34 billion, and it supports over 800,000 jobs. 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 [32][33], Planet Fitness started franchising units in 2003. Franchise Sales Manager Planet Fitness 4 Liberty Lane West Hampton, NH 03842 Phone: (603) 750-0001 Golds Gym also requires that potential franchisees have a minimum of $1 million in net worth and $400,000 in liquid assets. Kathy Gentilozzi joined Planet Fitness in 2019 as the Companys Chief People Officer. Estimated total initial investment: $2,405 to $3,200. Initial franchise terms are 10 years. process lies in obtaining a current list of Planet Fitness franchise owners. Bode was also responsible for U.S brand compliance and business development along with leadership positions overseeing training, store development, marketing, and franchising. Have questions? Estimated annual transaction costs per location range from $9,000- $72,000, Equal to 50% of our then-current initial franchise fee. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. Many of these are one-time fees that are needed to launch the franchise. 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. 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. [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. 2% of the total gross monthly EFT Dues Draft. Estimated Number of Units: 2,300. has opened over 4,000 locations on all seven continents. From there, youll receive additional materials to help inform your decision, including the all-important franchise agreement, including the franchise disclosure document (FDD). 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. 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. "[23], In the fall of 2013, TSG Consumer Partners LLC became an equity partner in the Planet Fitness franchise. Prior to that, she served as the Vice President of Digital Marketing & Innovation at Dunkin Brands where she was responsible for developing and marketing Dunkins digital platforms, including the DD Mobile app and the DD Perks loyalty program. 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. Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing gym franchises in the United States. [48], Since December 2014, Planet Fitness has been the official fitness sponsor of Dick Clark's New Year's Rockin' Eve on ABC. Ms. Gosselin was named a Top Woman in PR by PR News in 2020. That said, as of June 2022, Planet Fitness has paused offering franchises. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. Currently, the Planet Fitness franchise has 1,800+ open locations across all 50 states, along with Canada, Latin America, and Australia. Ms. Medeiros has been instrumental in developing and refining Planet Fitness marketing strategy and differentiated Judgement Free positioning in the fitness industry. Mr. Barber holds a B.S. We provide estimated franchise costs for some countries: Since their start in 2002, Anytime Fitness has opened over 4,000 locations on all seven continents. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. The total investment ranges from $728,290 to $3,777,800. He joined Planet Fitness in 2016 as the Senior Vice President of Franchise Operations. 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. Prior to Potbelly, he served in varying executive roles at Charming Charlie Inc. including President and Chief Financial Officer, and Chief Administrative Officer. They provide an affordable, high-quality fitness experience in a welcoming environment. As can be seen, Planet Fitness stock has outpaced the S&P 500 by almost 2x. 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. has over 8,900 franchises across the country. 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. 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. "[21] Planet Fitness has been criticized for prohibiting certain weightlifting exercisessuch as deadlifts and clean-and-jerksthat many experts believe are highly effective. Theyll provide you with a personal support team, comprehensive training, and marketing support over the course of your franchise agreements six-year term (or 10, if youre in California). - In Mexican currency, the investment comes around Peso 20,19 million to Peso 88,33 million. The initial Planet Fitness Franchise Fee is $20,000. The private equity owners of United PF Partners, the largest Planet Fitness franchisee conglomerate, have sold the group to American Securities, another New York-based private equity firm, for an undisclosed sum, the companies announced in a Jan. 6 media release. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. Please confirm by clicking on the Cancel Subscriptionbutton below. Compared to $145 million in 2020, they saw an increase of 44% from 2020 to 2021. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see. Co-founder, Elle Latham, decided to open a gym to implement her personally designed workout, which eventually became the basis for Orange Theorys system. 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. [56][57][58] Planet Fitness has also provided mini "Judgement Free Zone" gyms to Boys & Girls Clubs in Manchester, New Hampshire[59] and Pasadena, California. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. Across 50 states the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. You must maintain the franchise premises according to Planet Fitness brand standards. 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 Absentee Ownership Allowed, Planet Fitness Franchise Info: https://www.planetfitness.com. 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. 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. Lead Assigning Editor | Small business finances, investing, banking. Ms. Gentilozzi is a certified Senior Professional in Human Resources (SPHR). 4 Liberty Ln. [13] The new model was an effort to provide a fitness hub for everyday people. With that said, a Planet Fitness franchise . [47], In March 2013, Planet Fitness partnered with 50 Cent to sell his energy drink "Street King". "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." All told, their gyms boast over 14 million members worldwide. Orange Theory is currently headquartered in Boca Raton, FL, and is run by its CEO Dave Long who previously served as the main developer and owner of the European Wax Center. This investment is much higher than the industry standard of $253,000. Planet Fitness Franchise Costs, Fees, Revenues, Profits (2022 Review) The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. 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. Club Pilates North Shore is a boutique Pilates studio specializing in reformer fusion classes for anyone, at any age or fitness level. . Franchise Owners Contact Lists - FranchiseComplaints.org Planet Fitness, Inc. to Acquire 114 Locations From One of Its Top 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. Net Worth Requirement: $3,000,000 - In Indian currency, the investment comes around Rs 7,14 crores to Rs 31,23 crores. While at Dunkin Brands, he helped lead the technology team that rolled out mobile ordering across 9,000 locations. FranchiseComplaints.org [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. Benson is back on the board of Planet Fitness Owner WIRED Telcom 159 W 1st Street Oswego, NY 13126 Phone: (315) 326-3350 . 6.4 miles away from Planet Fitness. Prior to Jiffy Lube, he served on Shells global Downstream Acquisitions & Divestments Leadership Team with responsibility for transaction delivery across North and South America. Sherrill Kaplan joined Planet Fitness in June 2021 as Chief Digital Officer. She received her Bachelors degree from Eastern Connecticut State University. [18] This low-cost business model focuses on the needs of occasional or first-time health club members, rather than more experienced members,[6] and depends on many members rarely showing up.
