[47], In March 2013, Planet Fitness partnered with 50 Cent to sell his energy drink "Street King". As an Orangetheory franchisee, youll be responsible for a monthly royalty fee of 8% of gross sales. 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. Upon your submission of your Construction Development Plans for our approval, Point of Sale Support, Processing and Account Management Services Fees, $149-$199 plus processing and credit card fees based on the number of transactions processed per month or number of eligible accounts enrolled in collections. Rated Excellent on TrustPilot with feedback from 50+ customers. The chain has over a thousand locations with over 400 units outside the US. Mr. ODonnell has nearly 20 years of experience in a variety of finance and accounting roles. McCall Gosselin joined Planet Fitness in January 2013 and currently serves as SVP of Communications and Corporate Social Responsibility. Planet Fitness Announces Winners of Annual Franchisee Awards - PR Newswire Fitness centers have experienced sustained growth since the post-economic crisis in 2009. Start a Planet Fitness Franchise in 2023 - Entrepreneur [22] In 2010, Men's Health magazine called Planet Fitness "the worst gym in America. She has also held editing roles at LearnVest, a personal finance startup, and its parent company, Northwestern Mutual. Corporate Governance - Management Team - Planet Fitness He also currently serves on the Board of Directors of the NH/VT/ME Region of the American Red Cross and the Business & Industry Association of New Hampshire. 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. Initial investments: $969,600 - $4,242,500 You must maintain your equipment according to Planet Fitness brand standards. Anytime Fitness also prides themselves on engendering a supportive environment for members and they prioritize employee wellness. We reviewed the larger franchise industry as well as selling price multiples for larger systems where more transaction data is available. The total investment ranges from $728,290 to $3,777,800. The Initial Franchise Fee is uniform and non-refundable. 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. 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. Planet Fitness franchise was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire.

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