It was founded in 2001, began franchising in 2008, and currently has over 120 locations in 26 states. Orange Theory was ranked 49th in the franchise 500 rankings according to entrepreneur.com. Both of these fitness companies, while they differ in business models, use your own fitness data and others to create a competitive atmosphere. Planet Fitness competes in the Fitness market against big brand companies such as Orange Theory and Golds Gym. 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. In this role, he oversees the Companys accounting and treasury functions. The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. For example, this includes replacing your cardio equipment every 5 years and replacing your non-cardio equipment every 7 years. 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. Planet Fitness businesses are fitness training facilities offering exercise machines and free weights, fitness training services, tanning services . Mr. Rondeau also received an honorary doctorate degree from Philadelphia University and received the Universitys honorary innovation medal. 4 Liberty Ln. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. 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. However, the profit varies on your location also. They opened a new gym called Coastal Fitness and the Grondahls hired current CEO. You are going to upgrade your subscription.This action will proceed the difference in cost of plans and reset subscription period after moneyback. Prior to Sonus, he worked for more than 10 years in public accounting with both Deloitte and Touche and Arthur Andersen. We offer detailed franchise research and contact data reports. has opened over 4,000 locations on all seven continents. Total Investment $728,290 - $3,777,800. Planet Fitness's franchise fee is $10,000 for a 10-year renewable agreement, though the total investment ranges from $700,000 to $3.8 Million. Therefore, this may include substantial remodeling of your premises as frequently as every 5 years. 1,600+ locations open and we're just getting started! Whether youre a gym rat yourself or youre passionate about helping others achieve their health goals, starting a fitness business can be a dream gig for health-conscious entrepreneurs. They provide an affordable, high-quality fitness experience in a welcoming environment. Former Gov. Ongoing Royalty Fee: $449 - $549/mo. We also suggest that you speak to 3 5 Planet Fitness owners before opening one yourself. Ms. Medeiros has been instrumental in developing and refining Planet Fitness marketing strategy and differentiated Judgement Free positioning in the fitness industry. Throughout her tenure with Planet Fitness, Ms. Simmons built the Business Strategy and Analytics functions from the ground up, leveraging data, analytics and insights to develop and drive Planet Fitness overarching corporate strategy, propel the business forward, and reinforce the brands industry leadership position. Follow along as PF Trainer Teddy teaches you the basics of fitness, right in the comfort of your own home. 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. Christine Aebischer is an assistant assigning editor on the small-business team at NerdWallet who has covered business and personal finance for nearly a decade. Additionally, he held several leadership positions at Liz Claiborne, was Chief Financial Officer at Burlington Coat Factory, and served as Chief Operating Officer of Bath & Body Works. 1 comment. At that time, Michael Grondahl stepped down as CEO and Chris Rondeau took his place and has held the position since. He held multiple store operations positions with P&L responsibility progressing from Store Manager to Regional Manager. Planet Fitness franchise opportunities are proven by 1,500 clubs successfully operating worldwide. Paid Grace Period. 2% of the total gross monthly EFT Dues Draft. Do not sell or share my personal information. You have to pay this upfront fee when opening a Planet Fitness franchise. [6], In 1992, Planet Fitness founders, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. When evaluating offers, please review the financial institutions Terms and Conditions. Initial investments: $969,600 - $4,242,500
Additional Training: Ongoing training
And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. Robert Beaupre leads the SMB team at NerdWallet. That said, as of June 2022, Planet Fitness has paused offering franchises. Planet Fitness franchise is growing, and it is growing fast. [24] Michael Grondahl, co-founder of Planet Fitness stepped down as CEO, and was succeeded by Chris Rondeau. industry. McCall Gosselin joined Planet Fitness in January 2013 and currently serves as SVP of Communications and Corporate Social Responsibility. Both franchising units and company-operated stores have increased. We started our business in 1992 and refined our brand for a decade or so before franchising in 2003. Estimated Number of Units: 2,300. The estimated total investment necessary to begin the operation of an Orange Theory Franchise ranges from $657,542 to $2,105,322. In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. Franchising began one year later, and today Orange Theory studios can be found in 18 countries, and across 49 states. Order now to get instant access to the complete Planet Fitness franchise owners. 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. Please confirm by clicking on the Cancel Subscriptionbutton below. You must maintain your equipment according to Planet Fitness brand standards. Here is a list of our partners. [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. FranchiseComplaints.org The owner of the franchise (the franchisee) is expected to be involved in all aspects of day-to-day operations. Join now to become a registered PFIFC member and gain access to a wealth of information that will help you succeed as a Planet Fitness owner. You must commit to opening a one or more PLANET FITNESS locations as a condition of acquiring area development rights, either yourself or through one or more entities in which you own 51% or more interest. This model has become extremely sticky in the fitness industry because while many people want to achieve their fitness goals, they innately lack motivation. If a fitness business with a franchise sounds good, heres nine of the most promising options for a gym franchise. Paul Barber joined Planet Fitness in October 2022 as the Companys Chief Information Officer. [19] According to a Planet Money episode from 2014, "half of the Planet Fitness members don't ever go to their gyms. Be advised to match Planet Fitness franchise cost and profit by analyzing low and high fees you need to pay starting a Planet Fitness franchise. To be eligible to open a Crunch Fitness franchise, candidates must have at least $1 million in net worth and access to $300,000 to $400,000 in liquid assets. This is a good indication of high growth as a company overall. [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. Edward Hymes joined Planet Fitness in January 2023 as President and Chief Operating Officer. Use this opportunity to ask qualitative questions that you wouldnt necessarily have answered through the FDD, or from the franchisors marketing materialslike how happy they are with the initial training and ongoing support they receive, and their opinions about the overall outlook of the business. The Grondahls had acquired a struggling Golds Gym franchise and closed it in 1993. Kick off your search with this list of nine of the most promising gym franchises to buy. Ms. Kaplan has over 20 years of experience, most recently serving as Global Marketing Operations Advisor for Advent International, a global private equity firm. 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. Thats why we put together this complete mailing/telemarketing list containing contact the names, phone numbers and physical addresses of business owners in the franchise system and certain former franchise operators. But perhaps most important to this process is interviewing current franchisees. Orange Theorys success is quite similar to Pelotons rise to fame. 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. Liquid Cash Requirement: $1,500,000. [17] They also dramatically reduced prices to compete against better-known brands. Planet Fitness estimates the costs to upgrade and/or remodel your facility will range from $70,000 to $600,000 every 5 years. Initial franchise terms are 10 years. 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. All told, their gyms boast over 14 million members worldwide. They also take a fun, irreverent, quirky, and motivating approach to marketing (ever see the mustache commercial? [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. Chris Rondeau has served as the Chief Executive Officer of Planet Fitness since January 2013. The Grondahls changed the gyms name to Planet Fitness in 1994. Share. These numbers indicate that potential earnings can vary significantly, and it depends on factors such as locations and how well the business is run. Ms. Gentilozzi is a certified Senior Professional in Human Resources (SPHR). This could be an indicator that franchisees are doing really well. Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. Please scroll down for a partial list of franchise businesses. Due Date: Expended according to Planet Fitness Methods of Operations as per your advertising budget. Find Accurate Contact Data for Fitness Franchise Owners. Browse 1000s of reports on 1000s of franchise systems. Prior to Potbelly, he served in varying executive roles at Charming Charlie Inc. including President and Chief Financial Officer, and Chief Administrative Officer. Club Pilates North Shore is a boutique Pilates studio specializing in reformer fusion classes for anyone, at any age or fitness level. Your experience may vary depending on whether you finance tenant improvements, your location, and other factors. So long as you are not decided on the fitness industry, we recommend you have a look at other offerings. Orange Theory Franchise was founded in Boca Raton, Florida in 2009. There are some units of Planet fitness franchisees making more than that or some making less than that. So how do we make money? In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. If you can name a franchise business, it's probably on our Franchise owners marketing list. [41][42] In October 2015 the company opened their second international location in Santo Domingo, Dominican Republic. You must maintain the franchise premises according to Planet Fitness brand standards. If you sign an Area Development Agreement, the Initial Franchise Fee for each location opened under the Area Development Agreement will be $20,000 for Franchise Agreements entered into within four years of the effective date of your Area Development Agreement. ", "2017 Top Franchises from Entrepreneur's Franchise 500 List", "Planet Fitness members outraged over March bill amid coronavirus closures", "Planet Fitness CEO says gym visits are holding up against the omicron variant", "Planet Fitness Seeing Minimal Impact So Far From Omicron", "Planet Fitness Franchise (Costs + Fees + FDD)", "Planet Fitness Franchise Costs & Fees, Planet Fitness FDD & Franchise Information | FranchiseDirect.com", "Planet Fitness Franchise Cost & Fees | How To Open | Opportunities And Investment Information", "Planet Fitness Prices & Membership Cost", "17 January Gym Discounts That Are Too Cheap to Pass Up", "Planet Fitness is raising the price of its Black Card membership but still offers a $10 option", "American gym powerhouse chooses Brampton for first suburban Canadian location", "Cheap 'n' cheerful chinups: Canada welcomes Planet Fitness, the $10 gym for those bad at gym", "Planet Fitness Continues International Expansion in Dominican Republic", "Planet Fitness opens first Hawaii location at Ala Moana Center", "10 Million Reasons to Get Pumped About Planet Fitness", "Planet Fitness to Sponsor 'The Biggest Loser', "50 Cent and Joan Rivers Kick It At The Gym [PHOTOS]", "Planet Fitness To Launch New Global Campaign On New Year's Eve", "Planet Fitness sponsors New Year's Eve celebration despite pandemic", "David Gilliland Racing Fielding Fourth Entry for Joey Logano in Bristol Dirt Race", "The Judgement Free Zone: Judgement Free Generation Video Contest", "Planet Fitness Opens In Fremont, Donates $1K To Boys & Girls Club", "Planet Fitness 'Judgment Free Zones' a Model of Inclusion", "Planet Fitness Anti-Bullying Initiative $1M Success", "Planet Fitness debuts fitness room for kids at Boys and Girls Club in Manchester", "Planet Fitness Opens Judgement Free Gym at Pasadena Boys and Girls Club", "Planet Fitness raises $1M for Boys and Girls Clubs of America", "Planet Fitness named national gym sponsor of 'The Biggest Loser', https://en.wikipedia.org/w/index.php?title=Planet_Fitness&oldid=1142494313, Companies based in Rockingham County, New Hampshire, Companies listed on the New York Stock Exchange, Health care companies established in 1992, Medical and health organizations based in New Hampshire, Short description is different from Wikidata, All Wikipedia articles written in American English, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 2 March 2023, at 18:29.