Thanks to that near-legendary status in the fitness world, and their loyal customers, Jazzercise has over 8,900 franchises across the country. in Pilates. 1,600+ locations open and we're just getting started! Planet Fitness estimates the total costs to re-equip your facility with both cardio equipment and all other exercise equipment will range from $314,000 to $922,000 every 5 to 7 years. 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. Ultimately, the only way to know which gym franchise is right for you is to do your own due diligence. The graph below and the table that accompanies it depicts the total return to shareholders between 2015 and 2021 on Planet Fitness class A common stock relative to the performance of the S&P 500 Index and the Russell 2000. 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. Orangetheory claims to be one of the fastest-growing franchises in the world, and theyre ranked 60th in Inc. Magazines Fastest Growing Private Companies List. Franchise Division including leading the operations, development and construction, vendor management and local marketing execution teams. Today, there are Planet Fitness franchise locations around the U.S. as well as Canada and the Dominican Republic. In this role, he is responsible for all aspects of financial strategy and management. All reactions: 8. 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 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. Franchise. This FREE 10-part progressive program will help you get movin'. - In Mexican currency, the investment comes around Peso 20,19 million to Peso 88,33 million. Burn Boot Camp service, Computer System. Youre about to cancel your subscription. The Fitness Center industry has over 111,000 businesses with a market size of $34 billion, and it supports over 800,000 jobs. Planet Fitness Franchise (Costs + Fees + FDD) | Franchise Direct The number of fitness franchise locations has been steadily increasing to a total of about 2,039. . How Much Does A Planet Fitness Owner Make? - drfranchises.com Disclaimer: NerdWallet strives to keep its information accurate and up to date. 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. To open a gym, a franchisee must have of $3 million with $1,500,000 in liquid assets. is growing quickly: In 2018, The Bar Method saw a 118% growth rate. Planet Fitness | Judgement Free Zone | Gym and Fitness Club [51] In April 2022, Planet Fitness appeared as a sponsor on a race truck for the first time in the 2022 Pinty's Truck Race on Dirt with Logano driving the truck. At Yum! 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. Mr. Fitzgerald began his career at PepsiCo, where he held various leadership roles in finance and planning. 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. Ms. Kaplan holds a B.S. The total investment to open a Planet Fitness gym ranges from $728,290 - $3,777,800. Estimated total initial investment: $1 million to $4.1 million. This could be an indicator that franchisees are doing really well. Even though its smaller than Pure Barre. [27], In February 2016, the franchise was added to the Franchise Times' "Fast and Serious" list of top franchises (No. Planet Fitness Franchise Cost & Fees | How To Open | Opportunities And 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. ? Your actual costs may be higher or lower depending on the size and location of your Planet Fitness business. According to Franchise Direct, the initial franchise fee is $20,000, while the area development fee is $10,000. That said, all of the gym franchises on this list (and those that arent on this list) allow curious investors to request more information for free. [7] They eventually closed that original location, opened a gym called Coastal Fitness and brought on a third partner, current CEO Chris Rondeau. [19] According to a Planet Money episode from 2014, "half of the Planet Fitness members don't ever go to their gyms. Overall, Planet Fitness is making a decent amount of profit, and we also see that the profit chart . Planet Fitness franchise opportunities are proven by 1,500 clubs successfully operating worldwide. 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. After you cover your startup costs, your total gross monthly take could greatly exceed your expectations, depending on how many memberships you sell. The policy states that "members and guests may use all gym facilities based on their sincere self-reported gender identity. 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. [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. Orange Theory was ranked 49th in the franchise 500 rankings according to entrepreneur.com. We were opening our 5th store then. "[21] Planet Fitness has been criticized for prohibiting certain weightlifting exercisessuch as deadlifts and clean-and-jerksthat many experts believe are highly effective. At that time, Michael Grondahl stepped down as CEO and Chris Rondeau took his place and has held the position since. Paid by you to advertisers or Planet Fitness if it elects to collect from you. When you go to sell a Planet Fitness franchise based on the median multiple of .67 and net sales in 2021 of $1,545,877, it would sell for $1,035,737. 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. [25][26] The company went public on August 6, 2015. Franchise Sales Manager Planet Fitness 4 Liberty Lane West Hampton, NH 03842 Phone: (603) 750-0001 We started our business in 1992 and refined our brand for a decade or so before franchising in 2003. Today the brand has over 2,000 locations system-wide. Initial investments: $969,600 - $4,242,500 Review the chart below to see how much it costs to buy a Planet Fitness franchise in 2022. [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. We offer detailed franchise research and contact data reports. From there, youll receive additional materials to help inform your decision, including the all-important franchise agreement, including the franchise disclosure document (FDD). 2- Based on a midpoint investment of $3,273,300 with estimated profits of $154,587 at a 10% profit margin, it would take about 21 years to recoup your investment. History of Planet Fitness in Timeline - Popular Timelines On this Wikipedia the language links are at the top of the page across from the article title. With that in mind, Planet Fitness franchisees will need to pay for that international brand recognitionopening a Planet Fitness franchise may cost over $4 million. Orange Theorys success is quite similar to Pelotons rise to fame. You may need additional operating capital, or you may need it for a longer period of time. Like. Bill Bode serves as Division President, U.S. We reviewed the larger franchise industry as well as selling price multiples for larger systems where more transaction data is available. Robert Beaupre leads the SMB team at NerdWallet. [61], In January 2020, Planet Fitness partnered with The Biggest Loser to be the official sponsor of the show's 2020 reboot.[62]. Please confirm by clicking on the Cancel Subscriptionbutton below. Its also a good idea to reach out to at least a few former Planet Fitness franchisees to find out why they left or were terminated from the franchise system. [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. LearningRx Franchise Corporation 5085 List Drive, #200 Colorado Springs, CO 80919 Phone: (719) 264-8808 Liz Anderson . Then, you will be in compliance with the LAF requirement if you spend an amount that satisfies the LAF obligations for all the Planet Fitness businesses in the aggregate. Franchise fee: one-time $42,500 Royalty fees: $699/mo Planet Fitness Planet fitness has locations in Canada, Mexico, Panama, and all 50 states of the US. Franchising began one year later, and today Orange Theory studios can be found in 18 countries, and across 49 states. We offer the most complete and most accurate mailing/telemarketing list for Planet Fitness franchise owners. The most popular workout model from Snap Fitness is known as MYFIT. Point of Sale System, and other Supplies, Your Out-of-Pocket Initial Training Expenses, Operating Cash (Additional Funds Pre-Opening and first six months), $7% of the total gross monthly and annual membership fees payable to you via EFT Dues Draft, Internet Membership and Balance Payment Administration Fee, Set according to our Methods of Operations, presently 55 per membership application or balance payment we process for your franchise location, Fees to Evaluate and Approve Alternative Suppliers, Our reasonable costs and expenses, which currently are expected to range between $1,000 and $5,000, although costs could greatly exceed those amounts depending on the product, Will var under the circumstances: estimated insurance premiums for your first year are $10,000 to $20,000.

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