There are tons of gym franchises seeking new location owners, but this list represents nine of the most promising gym franchises on the market right nowbased mainly on name recognition, growth rate, and franchisor support system. This investment is much higher than the industry standard of $253,000. For example, this includes replacing your cardio equipment every 5 years and replacing your non-cardio equipment every 7 years. Order now to get instant access to the complete Planet Fitness franchise owners. Even more reason to consider investing in a gym franchise? locations around the U.S. as well as Canada and the Dominican Republic. By becoming a franchise owner, you can benefit from a proven business model, existing customer base, and franchisee support system. Join PFIFC 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. Headquarters: Hampton, New Hampshire. This routine is an 18-minute HIIT workout that targets cardio and endurance. Our franchise contact lists contain contact details for both owners of single franchise units and multi-unit franchise owners, that is, franchisees that own many franchised locations. Investing in an Orange Theory franchise is an interesting opportunity, especially for individuals looking to make their way into the Fitness industry. Planet Fitness estimates the costs to upgrade and/or remodel your facility will range from $70,000 to $600,000 every 5 years. [22] In 2010, Men's Health magazine called Planet Fitness "the worst gym in America. It is important to talk to other franchisees and see what their costs were for leasehold improvements and construction. 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. Former Gov. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. Currently, Golds Gym franchise has available markets in almost every state across the country, and select international opportunities. | United PF Partners, the largest Planet Fitness franchisee, has acquired a 19-club Planet Fitness franchisee in the Phoenix market, the company announced. The concept currently has over 1,000 franchises in the United States and another 150 international locations and is a subsidiary of Ultimate Fitness Holdings. 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. [17] They also dramatically reduced prices to compete against better-known brands. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. Start a Planet Fitness Franchise in 2023 - Entrepreneur From there, youll receive additional materials to help inform your decision, including the all-important franchise agreement, including the franchise disclosure document (FDD). Find other similar franchises in our catalog! Assistant Assigning Editor | Small-business finance, personal finance. In this role, she oversees general HR operations, talent acquisition, leadership development, business partner support, culture and employee engagement, benefits and compensation. 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. The chain has over a thousand locations with over 400 units outside the US. Planet Fitness growth continued over the next decade and in 2013, TSG Consumer Partners, LLC became an equity partner in the Planet Fitness franchise. [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. Net Worth Requirement: $3,000,000 ? Bill Bode serves as Division President, U.S. So if you also find fun to be your major motivating factor, Crunch might be the right gym franchise opportunity for you. Initial term lengths last 10 years. Before joining NerdWallet, he served as senior editorial manager of QuinStreet's insurance sites and managing editor of Insure.com. We got you! Both of these fitness companies, while they differ in business models, use your own fitness data and others to create a competitive atmosphere. All financial products, shopping products and services are presented without warranty. "[20] In 2003, Planet Fitness opened its first franchised location in Florida, with Eric Dore and Shane McGuiness. Estimated total initial investment: $58,870 to $521,437. [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. If you own and operate multiple Planet Fitness businesses in the same market area and LAF spending for them is combined. Rated Excellent on TrustPilot with feedback from 50+ customers. This influences which products we write about and where and how the product appears on a page. Participants are given heart-rate monitors, and their results are displayed on screens throughout the room over the course of this hour-long, interval-based, coach-led workout. Planet Fitness Initial franchise fee: $20,000 Estimated total initial investment: $1 million to $4.1 million Planet Fitness trademarked the phrase "judgment free zone," so that alone. Along with Pure Barre, The Bar Method is one of the best-known barre studios in the country. In addition to offering their signature classes, Pure Barre studios also generate revenue through teacher training and selling premium workout clothes. All financial products, shopping products and services are presented without warranty. 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. Our partners cannot pay us to guarantee favorable reviews of their products or services. Although gym franchises require that the owner has previous management experience, most dont require experience in the fitness industry. Prior to that, Ms. Gentilozzi served as Senior Vice President of Human Resources at Aropostale, supporting over 25,000 employees in 1,000 retail locations throughout the U.S., Canada, and Puerto Rico. The initial Planet Fitness Franchise Fee is $20,000. [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. 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. The Grondahls changed the gyms name to Planet Fitness in 1994. One of the best ways to thoroughly research a franchise or business opportunity investment before purchasing one is to get feedback from current and former franchisees involved in the franchise system. Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. Orange Theory Franchise was founded in Boca Raton, Florida in 2009. Franchise. You may need additional operating capital, or you may need it for a longer period of time. In fact, in a recent Inc. 5000 list of the 10 fastest growing franchises, four were fitness franchises. [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. Share. West Hampton, NH 03842, USA, Interested? [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. [49] [50], Since 2015, Planet Fitness has been a personal sponsor of NASCAR driver and champion Joey Logano. Throughout her tenure, she has held roles of increasing responsibility, with her most recent position being Vice President of National Marketing. At that time, Michael Grondahl stepped down as CEO and Chris Rondeau took his place and has held the position since. Prior to Potbelly, he served in varying executive roles at Charming Charlie Inc. including President and Chief Financial Officer, and Chief Administrative Officer. An offshoot of the (purportedly) $7 billion UFC brand, UFC Gyms offer MMA-inspired personal and specialized training, traditional and fusion martial arts classes, and youth fitness classes. Currently, the Orangetheory franchise 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). Previously, she was an editor at Fundera, where she developed service-driven content on topics such as business lending, software and insurance. Mr. Rondeau also received an honorary doctorate degree from Philadelphia University and received the Universitys honorary innovation medal. In her role as Division President, Corporate Clubs, Ms. Simmons will be responsible for leading the Company's Corporate Club portfolio including driving overall performance, leading and developing the team, and identifying strategic growth and expansion opportunities of the brand's corporate store fleet, which consists of more than 200 locations across 14 states and Canada. Mr. ODonnell has nearly 20 years of experience in a variety of finance and accounting roles. Over the last three years, franchises have opened at a rate of 148 units a year. Call (888) . 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). Therefore, this may include substantial remodeling of your premises as frequently as every 5 years. Prior to Jiffy Lube, he served on Shells global Downstream Acquisitions & Divestments Leadership Team with responsibility for transaction delivery across North and South America. Orange Theory was ranked 49th in the franchise 500 rankings according to entrepreneur.com. in Management Information Systems from Northwood University. To open a gym, a franchisee must have of $3 million with $1,500,000 in liquid assets. This, too, is best evaluated with the help of an accountant or business lawyer, who can help you break down the fine print.
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