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. Franchising began one year later, and today Orange Theory studios can be found in 18 countries, and across 49 states. Wed recommend meeting with your bank or accountant to help you determine which franchise is financially doable for you right now. Previously, Mr. Fitzgerald served as Chief Administrative Officer of Sears Canada. Lets get started. subject to maximum fee of $40,000, Concurrently with our granting a successor franchise to you, Actual costs (approximately $1,200 per visit), Cure Period Extension Fee (Franchise Agreement), Paid monthly via EFT on the day designated as your Monthly Membership Billing Day, as defined in our Franchise Agreement, Grace Period Fee (Area Development Agreement), Paid monthly beginning on the first day of the Planet Fitness franchise is one of the largest fitness US chains by a number of members and locations. . "[20] In 2003, Planet Fitness opened its first franchised location in Florida, with Eric Dore and Shane McGuiness. After four years the Initial Franchise Fee for each location opened under the Area Development Agreement will be equal to then-current Initial Franchise Fee being charged to new franchisees. 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. If a fitness business with a franchise sounds good, heres nine of the most promising options for a gym franchise. Headquarters: Hampton, New Hampshire. The initial Planet Fitness Franchise Fee is $20,000. Initial term lengths last 10 years. 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. 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. As a result, she has played an instrumental role in the major strategic decisions made by the Company. You will pay a lump-sum nonrefundable Initial Franchise Fee in the amount of $20,000 when you sign the Franchise Agreement. Plus, that smaller pool of franchisees means each one receives more personalized support from the company. Estimated total initial investment: $58,870 to $521,437. Mr. Fitzgerald has over 30 years of leadership experience in financial management in the retail industry, most recently serving as Chief Financial Officer and Senior Vice President at Potbelly Sandwich Works. He joined Planet Fitness in 2016 as the Senior Vice President of Franchise Operations. Previously, he was the Chief Technology Officer at Airline Report Corporation, where he modernized the technology needed to process billions of dollars in payments annually. As a franchisee, youll be required to pay 6% in royalty fees and 2% in marketing fees. This is significantly lower than the midpoint investment of $3,273,500. This, too, is best evaluated with the help of an accountant or business lawyer, who can help you break down the fine print. 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. We started our business in 1992 and refined our brand for a decade or so before franchising in 2003. And in 2019, gym franchises specifically contributed $4 billion to the $34 billion gym, health, and fitness industry. 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. Order now to get instant access to the complete 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. Royalty fees are 7% of the total gross monthly and annual membership fees, and advertising fees vary. This influences which products we write about and where and how the product appears on a page. 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. We provide estimated franchise costs for some countries: [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. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. 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. The total investment ranges from $728,290 to $3,777,800. Orange Theorys success is quite similar to Pelotons rise to fame. - In Mexican currency, the investment comes around Peso 20,19 million to Peso 88,33 million. [8][9][7] In 2002, they purchased the rights to the name Planet Fitness from Rick Berks and renamed their franchise. Many or all of the products featured here are from our partners who compensate us. By becoming a franchise owner, you can benefit from a proven business model, existing customer base, and franchisee support system. Their popularity mostly comes down to their unique business model: All Anytime Fitness locations are open 24 hours a day, seven days a week, and members can access any of those 4,000+ locations no matter where they are in the world. [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. Our research and analytics team analyzed over 120 franchise concept investment breakdowns in order to calculate this figure. Considering its massive brand recognition, the initial investment required to open a UFC Gym franchise is relatively low. 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. Follow along as PF Trainer Teddy teaches you the basics of fitness, right in the comfort of your own home. Paid by you to advertisers or Planet Fitness if it elects to collect from you. Prior to Jiffy Lube, he served on Shells global Downstream Acquisitions & Divestments Leadership Team with responsibility for transaction delivery across North and South America. Former Gov. 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. 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. Now, We Own 22 Locations", "What your new gym doesn't want you to know", "Planet Fitness vs. the lunkheads: Why is a health club trying to alienate people who love to work out? She received her Bachelors degree from Eastern Connecticut State University. [5] It markets itself as a "Judgement Free Zone" that caters to novice and casual gym users, and has faced both praise and criticism for its atmosphere. 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. Like Planet Fitness, Crunch Fitness prides themselves on creating an environment free of judgment (they actually trademarked the phrase No Judgments). The U.S. has the biggest Fitness market in the world, both in terms of revenue and in the number of members enrolled in a fitness facility. You'll also benefit from . There are both advantages and disadvantages of franchising, so make sure you weigh both sides thoroughly. Prior to Planet Fitness, Ms. Gosselin worked at Dunkin Brands on the global public relations team. At that time, Michael Grondahl stepped down as CEO and Chris Rondeau took his place and has held the position since. We got you! Before joining NerdWallet, he served as senior editorial manager of QuinStreet's insurance sites and managing editor of Insure.com. We now have: 2,400+ locations open (and we're just getting started!) [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. [11][12] Berks had been catering to the bodybuilding culture in his Gold's Gym. United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. We offer the most complete and most accurate mailing/telemarketing list for Planet Fitness franchise owners. All reactions: 8. The franchise has locations in the United States, Canada, Dominican Republic, Panama, Mexico, and Australia. 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. [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. Fitness centers have experienced sustained growth since the post-economic crisis in 2009. An innovative entrepreneur, Mr. Rondeau was honored as an EY Entrepreneur of the Year and inducted into the UNH Alumni Entrepreneur Hall of Fame. After a few years of growth, Planet Fitness started franchising in 2003 with the first franchised gym opened in Florida. Please renew to keep using our services. We offer detailed franchise research and contact data reports. You must maintain your equipment according to Planet Fitness brand standards. Ms. Medeiros has been instrumental in developing and refining Planet Fitness marketing strategy and differentiated Judgement Free positioning in the fitness industry. Prior to joining the Company, Mr. ODonnell most recently served as Vice President of Finance and Chief Accounting Officer at Sonus Networks.