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Currently, Golds Gym franchise has available markets in almost every state across the country, and select international opportunities. The chain has over a thousand locations with over 400 units outside the US. You must pay a supplemental fee of $5,000, per location remaining to be developed, plus our reasonable out-of-pocket expenses, including external legal and administrative costs we incur in connection with the transfer. [44][37] In 2016, over 90% of Planet Fitness locations were opened by existing franchise owners. The more franchises you own, the more earning potential you have as private equity firms become interested in your business instead of individual owner-operators. ), and that attitude trickles down into their culturethey genuinely want people to have fun while they work out. 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. Planet Fitness | Judgement Free Zone | Gym and Fitness Club In addition to standard gym fare, Anytime Fitness locations offer a range of classes and services, like yoga, spin, cardio, Zumba, and personal training. 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. [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. Throughout her tenure, she has held roles of increasing responsibility, with her most recent position being Vice President of National Marketing. This information may be different than what you see when you visit a financial institution, service provider or specific products site. Estimated annual transaction costs per location range from $9,000- $72,000, Equal to 50% of our then-current initial franchise fee. That said, Orangetheory is designed for people of all fitness levels, since participants can go entirely at their own pace. 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. After establishing a strong reputation across the fitness industry, Latham decided to seek a larger challenge and transitioned from the study of physiology to owning a gym that implemented a business model that remains in place across all studios to this day: offering trainer-led group workout sessions, which are broken into intervals of cardiovascular and strength training. The Planet Fitness initial franchise fee is $20,000. Planet Fitness trademarked the phrase judgment free zone, so that alone should give you a sense of this gyms major value: inclusivity for all people, regardless of their fitness levels. In this role, he is responsible for all aspects of financial strategy and management. [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. Ms. Gentilozzi has more than 30 years of Human Resources leadership experience at national retail brands, most recently serving as Executive Vice President of Human Resources at FULLBEAUTY Brands where she led all HR initiatives to support 2,000 associates. Previously, she was an editor at Fundera, where she developed service-driven content on topics such as business lending, software and insurance. We reviewed the larger franchise industry as well as selling price multiples for larger systems where more transaction data is available. Brian ODonnell joined Planet Fitness in February 2016 and currently serves as VP, Chief Accounting Officer. 1,600+ locations open and we're just getting started! Prior to that, he served as the Director and General Manager of internet startup Kozmo, where he was responsible for new market development and operations. The fitness center industry is mainly divided into two groups, either a specialized fitness boutique or a full-scale gym with multiple amenities and services. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. 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. Benson is back on the board of Planet Fitness 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. Are fitness franchises profitable in 2022? - Glofox 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. Overall, Planet Fitness is making a decent amount of profit, and we also see that the profit chart . [47], In March 2013, Planet Fitness partnered with 50 Cent to sell his energy drink "Street King". Previously, Mr. Fitzgerald served as Chief Administrative Officer of Sears Canada. [14] Berks later went on to open the first Youfit Health Club in St. Petersburg, Florida. Franchising began one year later, and today Orange Theory studios can be found in 18 countries, and across 49 states. Owning a fitness franchise is a fantastic way to enter into the multi-billion dollar fitness industry. Planet Fitness growth continued over the next decade and in 2013, TSG Consumer Partners, LLC became an equity partner in the Planet Fitness franchise. ASK QUESTIONS ABOUT THE FRANCHISE, Distributorship Opportunities For Business, the terms of - In Indian currency, the investment comes around Rs 7,14 crores to Rs 31,23 crores. Planet Fitness Gym - Franchise Solutions The Fitness Center industry has over 111,000 businesses with a market size of $34 billion, and it supports over 800,000 jobs. To open a gym, a franchisee must have a net worth of $3 million with a minimum of $1,500,000 in liquid assets. As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. Mr. ODonnell holds a CPA and received his Bachelors degree in Accounting from Assumption College in Massachusetts. [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. Pre-qualified offers are not binding. 9 Best Gym Franchises - NerdWallet Owning a. means owning a portion of the fastest growing sport in the worlda truly future-proofed business proposition. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. [39][29][40], In December 2014, Planet Fitness opened its first international location in Toronto, Ontario, Canada. https://www.palmbeachpost.com/story/business/2012/05/19/at-youfit-health-clubs-patrons/7332606007/, "Planet Fitness headquarters moving to Hampton", "Planet Fitness Sets New Membership Records", "4 international franchises that landed Down Under in 2019", "The fastest-growing gym in America has $10 memberships and gives out free pizza, bagels, and candy", "Fit for franchising: From first gym in Dover, Planet Fitness building big brand", https://www.franchise-info.ca/franchise_news/2014/01/how-planet-fitness-became-the-leader-in-fitness-franchising.html#.Y-Hc-BZMEWM, "How Planet Fitness Became the Leader in Fitness Franchising - News", "Marc Grondahl of Planet Fitness: How a Lean Business Model Became a Franchise Heavyweight", "YouFit Health Club expanding across South Florida, around nation | The Starting Gate", "No-frills gym offers fitness without flash", "Fast and Serious: FT ranks the smartest-growing brands", "Franchise Players: We Were Planet Fitness's First Franchisees. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. Verizon Wireless, and Westin, just to name a very few. This is significantly lower than the midpoint investment of $3,273,500. . First, youll need to winnow down your list to only the gyms whose investment levels align with your financials, as well as your eligibility to secure franchise financing or gym financing. Even if your network of Planet Fitness franchises earns above $% a million, you will not be able to recover costs just by selling it. In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. [61], In January 2020, Planet Fitness partnered with The Biggest Loser to be the official sponsor of the show's 2020 reboot.[62]. [49] [50], Since 2015, Planet Fitness has been a personal sponsor of NASCAR driver and champion Joey Logano. Franchise. 6.4 miles away from Planet Fitness. Even though its smaller than Pure Barre, The Bar Method franchise is growing quickly: In 2018, The Bar Method saw a 118% growth rate. in Pilates. 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. They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. Today the brand has over 2,000 locations system-wide. 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. In this role, he will lead the Companys technology evolution and strategy, focused on delivering technology solutions that will continue to enhance the member experience while optimizing infrastructure, data and operations for flexibility and scale. 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 Please confirm by clicking on the Cancel Subscriptionbutton below. Follow along as PF Trainer Teddy teaches you the basics of fitness, right in the comfort of your own home. 2% of the total gross monthly EFT Dues Draft. Paid Grace Period. 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. The Best Fitness Franchises You Can Buy - Trafft The estimated total investment necessary to begin the operation of an Orange Theory Franchise ranges from $657,542 to $2,105,322. The owner of the franchise (the franchisee) is expected to be involved in all aspects of day-to-day operations. The estimated total investment necessary to begin the operation of a Planet Fitness Franchise ranges from $1,625,600 $4,921,000. [17] They also dramatically reduced prices to compete against better-known brands. United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. Building in competition to workouts enhances ones motivation and keeps consumers coming back. Ms. Kaplan holds a B.S. [35], The net worth requirement for a Planet Fitness franchise is $3,000,000, while the liquid cash requirement is $1,500,000. All initial fees are the same for both initial and conversion franchises. - In currency of Germany, the investment comes around EUR 805,430 to EUR 3,524,180. Many of these are one-time fees that are needed to launch the franchise. [24] Michael Grondahl, co-founder of Planet Fitness stepped down as CEO, and was succeeded by Chris Rondeau. 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. 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. In this role, she oversees general HR operations, talent acquisition, leadership development, business partner support, culture and employee engagement, benefits and compensation. Planet Fitness franchisees also compete against other smaller gym and fitness business locations. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry.