2807 Lake Michigan Drive NW
Grand Rapids, MI 49504
Jobs Expected To Be Created: 10
Bradd Pierce, EDF Loan Officer, had the opportunity to work with Thomas Etcher of Huntington National Bank to finance a new Planet Fitness Franchise at 2807 Lake Michigan Dr. NW, Grand Rapids, MI. The Franchise is co-owned by Julian Monterosso and Patrick Schafer.
Julian and Patrick became Planet Fitness franchisees in 2012 after extensive research and a desire to leave their current employers and develop their own business. Prior to the current SBA 504 Project, Julian and Patrick owned three Planet Fitness locations. They opened their first Planet Fitness location in July 2012 in the Holland Town Center, Holland, MI. The second location was opened October 2013 on Henry St, Muskegon, MI and in 2014 they opened their Plainfield Ave NE location in Grand Rapids.
In September 2016, Julian and Patrick purchased the old Shawmut Hills Motorsports location on Lake Michigan Drive. Huntington Bank utilized the SBA 504 program to facilitate the purchase, renovation of the building and purchase/installation of all the equipment needed for their new Planet Fitness location. The SBA 504 program offered the perfect low down payment and long- term fixed rate financing option combined into one total financing package.
Planet Fitness health clubs operate across the United States of America as a value health club chain. They offer low cost memberships and benefits to attract members. Planet Fitness does not employ sales or childcare staff like many other fitness centers do. Instead, they focus on the things that people really want in a health club – clean, stylish, hassle-free facilities that are filled with tons of brand-name cardiovascular and strength equipment. The franchise also prides on being a no-judgement zone available to everyone.
Julian said, “Our experience with the EDF and our bank Huntington was very positive. The 504 program allowed us to get the funding necessary to purchase our building, make improvements and install our equipment – providing a lending solution that is difficult to obtain through conventional channels. We were able to get creative by re-developing real estate in order to place our business in a great location on Lake Michigan Drive.”