JOSEPH CANCELLIERE
SAM GLASSMAN are making ,” said Joseph Cancelliere , director of FP & A for Excel Fitness , a leading franchise company with 78 clubs .
“ It ’ s a cross-functional committee . We work across many different modalities and disciplines ,” said Sam Glassman of Planet Fitness Midwest . “ It ’ s important to have people consider different issues going on with the brand and the system . It ’ s interesting to look at various specialties associated with running a company and analyze what can be helpful for the brand at large and the stakeholders . The problem is tricky because it ’ s not solely focused on one thing . It ’ s a broader mandate of trying to add value by looking at different visions and prioritizing them .”
No small task , to be sure , but fortunately , this is a committee with members sharing a wealth of experience in banking and finance that makes them well-equipped to be the guardians of franchise value . “ This committee is composed of some of the smartest financial and analytical minds on the franchisee and franchisor side ,” said Chairman Pete Hopkins , co-owner and chief financial officer of PF Michigan Group , which operates 50 clubs .
Hopkins has a background in commodity trading , and a résumé similar to Cancelliere and Glassman . Cancelliere has been involved with the PF system since 2014 and joined Excel Fitness in 2017 after working for several years for a financial services firm . “ My background has always focused on value creation , and I am excited to be able to work with some amazing individuals on the EVC to create value for our brand and franchisees ,” he said .
Glassman wears two hats as both a partner and chief financial officer for Planet Fitness Midwest , which has 37 clubs and six in development . Before joining the system eight years ago , he spent more than 20 years analyzing public and private companies , focused on equities , credit and derivatives .
Peter Amato brings similar experience . The chief financial officer and managing partner of Easy Mile Fitness , Amato worked in investment banking and private equity with a focus on mergers and acquisitions before he and his brother , Philip , became Planet Fitness franchisees . They currently own 12 clubs and plan for more .
Sean Cahill is another committee member with an extensive background in finance . The chief financial officer of the 106-unit Taymax Group spent 10 years working at a global investment bank
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GearedUp | 2020 Issue 3
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