Thanks to that near-legendary status in the fitness world, and their loyal customers. The name came from his daughter's school project, "Fitness Planet". Planet Fitness offers people the opportunity to be a part of the fitness business, but we do not believe this is sustainable. 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. Prospective owners are asked to have a minimum net worth of $3 million and a minimum of $1,500,000 in liquid capital. Due Date: Paid monthly and annually. Depending on the location and pre-existing structure that is being purchased, you could see your expenditure being on the lower or higher end of this spectrum. She also served as Senior Vice President of Human Resources at Macys Inc., and has held various leadership positions at The May Department Store Company, including corporate and division roles. Since their start in 2002, Anytime Fitness has opened over 4,000 locations on all seven continents. After you cover your startup costs, your total gross monthly take could greatly exceed your expectations, depending on how many memberships you sell. [14] Berks later went on to open the first Youfit Health Club in St. Petersburg, Florida. Planet Fitness Independent Franchisee Council Join Us Today! Based on a midpoint investment of $1,378,500 with estimated profits of $94,820 (10% profit margin) it would take about 15 years to recoup your investment. Building in competition to workouts enhances ones motivation and keeps consumers coming back. The Initial Franchise Fee is uniform and non-refundable. Even if your network of Planet Fitness franchises earns above $% a million, you will not be able to recover costs just by selling it. [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. At that time, Michael Grondahl stepped down as CEO and Chris Rondeau took his place and has held the position since. That way, participants can both track their own progress, and see how it stacks up to other people in the classso if you thrive on competition, this is the gym franchise for you. Planet Fitness franchise opportunities are proven by 1,500 clubs successfully operating worldwide. | United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. Upon your submission of your Construction Development Plans for our approval, Point of Sale Support, Processing and Account Management Services Fees, $149-$199 plus processing and credit card fees based on the number of transactions processed per month or number of eligible accounts enrolled in collections. The owner of the franchise (the franchisee) is expected to be involved in all aspects of day-to-day operations. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see the mustache commercial? 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). 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. Across 50 states the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia However, the profit varies on your location also. The most popular workout model from Snap Fitness is known as MYFIT. Planet Fitness franchise is growing, and it is growing fast. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. * 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 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. Earlier in her career, Ms. Kaplan held several digital and marketing leadership roles at global brands including American Express and Citi, Inc. She serves as an independent member of the Fiesta Restaurant Group Board of Directors, as well as the Massachusetts Innovation & Technology Exchange (MITX). If a fitness business with a franchise sounds good, heres nine of the most promising options for a gym franchise. Fitness centers have experienced sustained growth since the post-economic crisis in 2009. Additional Training: Ongoing training This information may be different than what you see when you visit a financial institution, service provider or specific products site. - In Saudi Arabia currency, the investment comes around SR 3,64 million to SR 15,91 million. Although gym franchises require that the owner has previous management experience, most dont require experience in the fitness industry. The total investment to open a Planet Fitness gym ranges from $728,290 - $3,777,800. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Then, the last four workouts in the program will take place in the gym and you'll learn how . 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. Brand fund contributions (aka advertising fees) are 2% of monthly gross sales, though they may be increased to 3%. This influences which products we write about and where and how the product appears on a page. Even though its smaller than Pure Barre. Owning a fitness franchise is a fantastic way to enter into the multi-billion dollar fitness industry. Have questions? [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. 1. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. It offers classes for dance, aqua, cycle, box, pilates, and many more. Greater of $60,000 or 7% of the total gross monthly membership fees payable to you via EFT in a quarter, and the greatest of $5,000 or 3% of the total gross monthly membership fees payable to you via EFT in a month. - In Canadian currency, the investment comes around Can$ 1,231,300 to Can$ 5,387,800. When evaluating offers, please review the financial institutions Terms and Conditions. So long as you are not decided on the fitness industry, we recommend you have a look at other offerings. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. Review the chart below to see how much it costs to buy a Planet Fitness franchise in 2022. Find other similar franchises in our catalog! Initial franchise terms are 10 years. Do not sell or share my personal information. Overall, Planet Fitness is making a decent amount of profit, and we also see that the profit chart . 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. Before the pandemic, it was growing at a rate of approximately 200 units a year, which is impressive. 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. The Fitness Center industry has over 111,000 businesses with a market size of $34 billion, and it supports over 800,000 jobs. And with an incredibly low initial franchise fee and upfront investment, Jazzercise is one of the best low-cost franchises youll find, especially within the health and fitness industry. Benson, who co-founded the former Cabletron Systems, once the . The number of fitness franchise locations has been steadily increasing to a total of about 2,039. . Mr. Rondeau also received an honorary doctorate degree from Philadelphia University and received the Universitys honorary innovation medal. $10,000, plus our reasonable out-of-pocket expenses, including external legal and administrative costs we incur in connection with the transfer. The Planet Fitness franchise was founded in 1992 and has been franchising since 2003. Estimated total initial investment: $198,650 to $446,250. The fitness center industry has grown with the rise in disposable income and demand for a more health-conscious lifestyle among millennials. And with an incredibly low initial franchise fee and upfront investment, Jazzercise is one of the best low-cost franchises youll find, especially within the health and fitness industry. The initial Planet Fitness Franchise Fee is $20,000. The estimated total investment necessary to begin the operation of a Planet Fitness Franchise ranges from $1,625,600 $4,921,000. 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. Absentee Ownership Allowed, Planet Fitness Franchise Info: https://www.planetfitness.com. Rated Excellent on TrustPilot with feedback from 50+ customers. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. [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. [54][55] Also in 2016, the company donated more than $1 million to the program. Airfare, ground transportation, meals, lodging, Government agencies and bonding companies, Payroll, debt services, ongoing pre-sale/grand opening marketing, and cash to cover miscellaneous day-to-day expenses, Estimated Selling Price = Net Sales * 0.67, Estimated Selling Price = Net Sales * 1.21. Ad Royalty Fee: $300/mo. In this role, she oversees general HR operations, talent acquisition, leadership development, business partner support, culture and employee engagement, benefits and compensation. Throughout his tenure at Dunkin Brands, Mr. [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. ", "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? West Hampton, NH 03842, USA, Interested? After a few years of growth, Planet Fitness started franchising in 2003 with the first franchised gym opened in Florida. Even more reason to consider investing in a gym franchise? Please renew to keep using our services. Please scroll down for a partial list of franchise businesses. From there, youll receive additional materials to help inform your decision, including the all-important franchise agreement, including the franchise disclosure document (FDD). Office Depot, Planet Fitness, Roto Rooter, Starbucks, Taco Bell, Travelers, and United Health Group. NerdWallet strives to keep its information accurate and up to date. Like. Subscribe to our newsletters and keep up-to-date with the latest news in the franchise industry. Call us direct at (855) 822-0912, Get Contact Details & Mailing List of Planet Fitness Franchisees, The difficult part of this step of the franchise buying due diligence. 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. And while our site doesnt feature every company or financial product available on the market, were proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward and free. So any aspiring entrepreneur with a passion for fitness may be eligible for gym franchise ownership, whether theyre a trained fitness pro or not. 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.