How much does it cost to own a Planet Fitness?
When purchasing a Planet Fitness franchise, the fee would be 10,000 dollars for a 10-year renewable agreement, while the total investment ranges from 700,000 to 3.8 million dollars. Aside from this, franchisees must also pay a 5% ongoing royalty fee for all the sales to PlanetFitness.
How much does a Planet Fitness franchise cost?
You will receive franchise approval once your financial and background checks are completed. Approval will only be given to candidates who meet all the requirements of franchise owners. How much does Planet Fitness franchise cost? Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600.
Why planet Fitness is successful?
Why so Great?
- No Contract. Having to sign a contract for everything is getting to be the norm. ...
- Price. “I can’t afford to go to the gym.” I’ve heard this said more times than I would like to admit and I think Planet Fitness really hit this ...
- Creates an Atmosphere for People to Get Active. ...
- They Know Their Market. ...
- Marketing Geniuses. ...
- Awesome Food. ...
What is the startup fee for Planet Fitness?
Planet fitness also provides promotion which can decrease or waive you from the startup fee. Before registering, you had better check the local planet fitness that you choose to know what you will get in the next. Usually, the startup fee is for about $ 20.
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What does a Planet Fitness Franchise Cost?
Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing gym franchises in the United States. The total investment ranges from $728,290 to $3,777,800. Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness.
Open a Planet Fitness Franchise
Planet Fitness has more than 14.1 million members and 2,086 locations in 50 states. It is ranked #7 in Entrepreneur magazine's Franchise 500®. A leader in the fitness industry and franchising, Planet Fitness was named to Fortune magazine's 2019 '100 Fastest-Growing Companies' list and Forbes 2019 list of 'America's Best Franchises'.
About
Planet Fitness is an icon in the fitness industry. With its masterful Judgement Free Zone® catch phrase, Planet Fitness has become one of the largest and fastest-growing fitness centers that focuses on an affordable and intimidation-free environment for its members.
Training and Support
Planet Fitness offers its franchisees two weeks of training at the company headquarters. The company offers ongoing assistance in the form of advertising, a phone line, safety procedures, meetings, newsletters, and a grand opening event.
Background
When the COVID-19 pandemic hit, health came the forefront of everyone's minds. Data shows that those who were most impacted by this pandemic had comorbidities, such as obesity and diabetes. A way to get in better shape is going to the gym. This is where the Planet Fitness franchise comes in.
Support and Training Offered By Planet Fitness
In terms of support and training, the company offers two weeks of training at its headquarters. Additionally, the company also offers ongoing assistance in the form of advertising, a phone line, safety procedures, meetings, newsletters, and a grand opening event.
Franchises Similar to Planet Fitness
GYMGUYZ, Snap Fitness, Bounce! Trampoline Sports, Tapout Fitness, Fitness Machine Technicians, Delta Life Fitness, Hapa Yoga & Fitness, 9Round Fitness, AWATFit The Fitness Truck, Orangetheory Fitness, Anytime Fitness, F45 Training, Crunch, Burn Boot Camp, Gold's Gym, Eat the Frog Fitness, World Gym, Amazing Athletes, Jazzercise, Club Pilates, Body20, Special Strong, YogaSix, Soccer Stars.
How much does a Planet Fitness franchise make?
Franchise revenue depends on a wide range of factors, as does profit. How much money you can make from any franchise depends on a number of specific factors such as franchise location, labor costs, commercial lease rates and a number of other factors . Unlock this franchise for franchise-specific data and insight.
How many franchise locations do they have?
As of the 2020 Franchise Disclosure Document, there are 1838 franchised Planet Fitness locations in the USA.
What is a Planet Fitness franchise?
Franchise Description: Planet Fitness Franchising LLC is the franchisor. Planet Fitness businesses are fitness training facilities offering exercise machines and free weights, fitness training services, tanning services, related services and ancillary goods. The franchisor offers for sale Planet Fitness franchises for new locations and for existing fitness facilities that want to convert to a Planet Fitness. The Planet Fitness franchisee must provide these services on a 24-hour-per-day 7-day-per-week basis unless prohibited by law or authorized by the franchisor in writing.
What is the training for Planet Fitness?
The initial training program consists of both classroom and hands-on training covering all facets of operations, including equipment operation and maintenance, cost control, inventory control and basic techniques of management. The franchisor will administer the initial training to franchisees in two specific phases: owner orientation and pre-sale and operations training. The franchisor may require franchisees’ owners or their employees to attend additional training courses during the term of the Franchise Agreement, whether conducted by the franchisor or a third party vendor it designates. The franchisor expects that the additional training required will not exceed two people attending more than two refresher training sessions of up to five days per calendar year during the term of the Franchise Agreement, but it may require franchisees to attend more training courses or franchise meetings when it reasonably considers them necessary.
How long is a franchise agreement?
Term of Agreement and Renewal: The length of the initial franchise term is 10 years from the date franchise es commence operations. A successor franchise may be granted if the franchisee meets the franchisor’s then-current requirements.
Does Franchise Direct sell your information?
Franchise Direct's reputation for integrity in the franchise industry has been established over our 20+ years in business. We NEVER sell your information or share it with anyone other than the companies from which you have requested information. Please view our privacy policy.
Does franchising offer financing?
Financial Assistance: The franchisor does not offer direct or indirect financing. The franchisor does not guarantee a franchisee’s note, lease or obligation.
How much cash does a Planet Fitness franchise need?
The net worth requirement for a Planet Fitness franchise is $3,000,000, while the liquid cash requirement is $1,500,000.
Who owns Planet Fitness?
Michael Grondahl bought the Planet Fitness trademark from Rick Berks in 2002. Rick Berks had started his own Planet Fitness gym in 1993 in Sunrise, Florida, and eventually expanded it to three clubs. A former Broward Sheriff’s Office detective, he owned and operated a Gold's Gym franchise. Berks had been catering to the bodybuilding culture in his ...
How much does Planet Fitness cost?
The club's two membership levels are $10 and $22.99 per month: the $10 per month level includes access to cardio and strength equipment, unlimited group fitness instruction and pizza and bagels once a month; the $22.99 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.
How many clubs does Planet Fitness have?
Planet Fitness ( PFIP LLC) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. The company reports that it has 2,039 clubs, making it one of the largest fitness club franchises by number of members and locations.
When did Planet Fitness change its name?
They closed that original location, and in 1993 they opened a new location named Coastal Fitness. They brought on a third partner, current CEO Chris Rondeau, and in 1994 they changed their name to Planet Fitness.
When did Planet Fitness go public?
The company went public on August 6, 2015. In February 2016, the franchise was added to the Franchise Times ' "Fast and Serious" list of top franchises (#1), and in its 2016 ranking of franchises, Forbes magazine ranked Planet Fitness #4. It ranked in the top 50 of Entrepreneur magazine 's Franchise 500 in 2017.
Where did the name Planet Fitness come from?
The name came from his daughter’s school project, “Fitness Planet.”.
What is Planet Fitness?
Planet Fitness clubs are where the magic happens. By magic, we mean that judgement free atmosphere where our members feel accepted, respected, motivated, supported and inspired. And while it can feel like magic, we know it doesn’t happen by accident. At the heart of what we do are the people who make the magic happen every day. With over 2,000 independently owned and operated franchise locations, Planet Fitness franchisees are united by their commitment to elevating the Judgement Free Zone by hiring team members that are devoted to providing great member experiences and driving great results in their club.
What is Planet Fitness customer service philosophy?
Our customer service philosophy is that it’s not enough to simply meet member expectations, we want to exceed their expectations and make them our Raving Fans. In addition to positively promoting the Judgement Free Zone, we also want our members to be raving fans of the team members who are responsible for impacting their lives every day, each time they step into a Planet Fitness club. Much like that post-workout bliss, it sure feels good to know that members recognize and appreciate the people here that create their excellent experience. Check out some of our Golden Thumb award winners, nominated by a member in their club.