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So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. 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 . Training starts with one week at the companys San Francisco headquarters, followed up by three to six months of training, led by a dedicated trainer, in your home location. Before joining NerdWallet, he served as senior editorial manager of QuinStreet's insurance sites and managing editor of Insure.com. Planet Fitness has more members and locations than any other fitness brand. Prior to Dunkin, she worked at various communications agencies in both Boston and Washington, DC on behalf of various leading retail brands. We also suggest that you speak to 3 5 Planet Fitness owners before opening one yourself. 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. Please scroll down for a partial list of franchise businesses. 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. Here is a list of our partners. In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. [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. The prospects for growth and success within the industry and the Orange Theory brand itself, are extensive, and some markets continue to be available as they move forward with growing their presence across the country. This model has become extremely sticky in the fitness industry because while many people want to achieve their fitness goals, they innately lack motivation. Initial franchise fee: $54,950 to $59,950, Estimated total initial investment: $563,529 to $999,121. Franchise fee: one-time $10,000 for a 10-year renewable agreement. Benson, who co-founded the former Cabletron Systems, once the . 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. Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600. Brands, he supported the team tasked with transforming and modernizing technology and data systems both domestically for KFC and internationally in Australia for Pizza Hut. Paid Grace Period. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. 1),[16] and in its 2016 ranking of franchises, Forbes magazine ranked Planet Fitness No. The $10 per month level includes access to cardio and strength equipment, unlimited group fitness instruction and pizza and bagels once a month; the $24.99 per month ("Black Card") level allows members to bring one guest per day at no charge, access to all Planet Fitness locations, and access to extra amenities, such as tanning booths, massage chairs, red light therapy and water massage beds. Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. Bringing Franchise Owners Together to Share and Grow. The Judgement Free Zone was started to help first-time gym users feel more comfortable starting their fitness journey. Ms. Medeiros received her Bachelors degree from the University of New Hampshire. The Initial Franchise Fee is uniform and non-refundable. This information may be different than what you see when you visit a financial institution, service provider or specific products site. Fitness centers have experienced sustained growth since the post-economic crisis in 2009. Initial investments: $969,600 - $4,242,500 Net Worth Requirement: $3,000,000 Liquid Cash Requirement: $1,500,000 Estimated Initial Investment New franchise owners can also expect to participate in a comprehensive training program, as the franchise requires their franchisees to be certified barre instructors. Kathy Gentilozzi joined Planet Fitness in 2019 as the Companys Chief People Officer. Even more reason to consider investing in a gym franchise? You are going to upgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. Prior to joining Planet Fitness, Mr. Vartanian was a corporate attorney at Devine Millimet. FranchiseComplaints.org [3] The company reports that it has around 2,400 clubs, [4] making it one of the largest fitness club franchises by number of members and locations. Our opinions are our own. Verizon Wireless, and Westin, just to name a very few. 9 Best Gym Franchises - NerdWallet 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. It offers classes for dance, aqua, cycle, box, pilates, and many more. Planet Fitness offers people the opportunity to be a part of the fitness business, but we do not believe this is sustainable. 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. But perhaps most important to this process is interviewing current franchisees. It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. [15], Rondeau and the Grondahls recognized that there was a greater opportunity to serve a much larger segment of the population if they changed the gym environment, both in attitude and format, by creating a non-intimidating, low-cost model. Who Owns Planet Fitness? (Franchise, CEO & More) - Trusty Spotter Mind that the franchise requirements for sale could be different depending on the format and scope of business. [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. ? Prior to Planet Fitness, Ms. Gosselin worked at Dunkin Brands on the global public relations team. locations around the U.S. as well as Canada and the Dominican Republic. 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. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see the mustache commercial? 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. Franchise Description: Planet Fitness Franchising LLC is the franchisor.The ultimate parent company is Planet Fitness, Inc. You have to pay this upfront fee when opening a Planet Fitness franchise. Planet Fitness franchise costs, based on Item 7 of the company's 2022 FDD: Initial Franchise Fee: $20,000 Site Selection Costs: $0 to $10,000 Construction Development Plan Review Fee: $0 to $4,000 Leasehold Improvements: $1,250,000 to $2,163,000 Fitness Equipment: $34,000 to $953,000 Non-Fitness Equipment: $63,000 to $825,000 Throughout her tenure, she has held roles of increasing responsibility, with her most recent position being Vice President of National Marketing. In 2020, he joined the International Franchise Association (IFA) Board of Directors; board members are drawn from a world-class set of franchise brands. Share. Disclaimer: NerdWallet strives to keep its information accurate and up to date. 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. That said, Orangetheory is designed for people of all fitness levels, since participants can go entirely at their own pace. She has also held editing roles at LearnVest, a personal finance startup, and its parent company, Northwestern Mutual. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. Lets get started. He held multiple store operations positions with P&L responsibility progressing from Store Manager to Regional Manager. Now, youd be hard-pressed to find a gym franchise that doesnt offer some form of barre class, but owning a Pure Barre franchise takes you straight to the source. Planet Fitness (PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. Prior to that he served as the Chief Operating Officer since 2003. 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. The difficult part of this step of the franchise buying due diligence process lies in obtaining a current list of Planet Fitness franchise owners. Mr. Barber holds a B.S. Planet Fitness Franchise Cost & Opportunities 2023 | Franchise Help Estimated total initial investment: $1 million to $4.1 million. in Management Information Systems from Northwood University. Planet Fitness franchise opportunities are proven by 1,500 clubs successfully operating worldwide. Orangetheory Fitness provides a totally unique (and seriously hard) group workout experience. Franchise candidates can expect to pay anywhere between $354k to $1.2m. Therefore, this may include substantial remodeling of your premises as frequently as every 5 years. Even though its smaller than Pure Barre. The Best Fitness Franchises You Can Buy - Trafft This could be an indicator that franchisees are doing really well. Today the brand has over 2,000 locations system-wide. Although gym franchises require that the owner has previous management experience, most dont require experience in the. Mr. ODonnell holds a CPA and received his Bachelors degree in Accounting from Assumption College in Massachusetts. Planet Fitness Independent Franchisee Council Join Us Today! In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. Even though its smaller than Pure Barre, The Bar Method franchise is growing quickly: In 2018, The Bar Method saw a 118% growth rate. The franchise requires that candidates have access to over $90,000 in liquid capital, and a minimum net worth of $300,000. - In currency of Germany, the investment comes around EUR 805,430 to EUR 3,524,180. [41][42] In October 2015 the company opened their second international location in Santo Domingo, Dominican Republic. 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. Have questions? Lead Assigning Editor | Small business finances, investing, banking. The graph includes a comparison against the Russell because there is no industry benchmark or line-of-business index for the fitness industry or a peer group that is publicly traded.

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