Full Answer
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.
What is the hourly wage at Planet Fitness?
These charts show the average hourly wage (core compensation), as well as the average total hourly cash compensation for the job for Trainer in companies like Planet Fitness in the United States. The average hourly rate for Trainer in companies like Planet Fitness range from $15 to $29 with the average hourly pay of $21.
How much Planet Fitness pay?
To access the Planet Fitness facilities, You have to pay an annual fee of ~ $40 and usually used in club maintenance, Repairing and upkeep. Planet Fitness Annual fee is $ 39, and the billing date is based on your joining date. Planet Fitness Annual fee is charged around eight weeks after your joining.
What does Planet Fitness pay their employees?
While Planet Fitness employees earn an average yearly salary of $23,928, different roles can command different wages. Some of the job titles with high salaries at Planet Fitness are Team Leader, General Manager, Personal Trainer, and Maintenance Technician.
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How much does it cost to start a Planet Fitness business?
The total investment necessary to begin operation of a single Planet Fitness business ranges from $968,100 to $3,072,000 if you finance your equipment.
When did Planet Fitness start franchising?
After a few years of growth, Planet Fitness started franchising in 2003 with the first franchised gym opened in Florida. Planet Fitness’ growth continued over the next decade and in 2013, TSG Consumer Partners, LLC became an equity partner in the Planet Fitness franchise. At that time, Michael Grondahl stepped down as CEO and Chris Rondeau took his place and has held the position since.
How long is the pre-sale marketing period for Planet Fitness?
The pre-sale/grand opening marketing period typically begins no less than 45 days immediately before the date that you intend to commence regular operations at your Planet Fitness location, and it may be as long as 180 days after you commence regular operations (“Pre-Sale/Grand Opening Marketing Period”).
How many square feet does a planet fitness business need?
Typically, you will need to lease a building of approximately 15,000 to 25,000 square feet and pay the cost of site work and/or leasehold improvements.
What happens if Planet Fitness fails to execute its pre-sale marketing plan?
If you fail to execute the Pre-Sale/Grand Opening Marketing Plan, Planet Fitness may execute it on your behalf and at your expense.
How much does it cost to down payment on Planet Fitness?
Planet Fitness estimates that your cost to make down payments on non-fitness equipment generally ranges between $32,000 and $182,000, with the total estimated cost to purchase the non-fitness equipment ranging between $318,000 and $606,000.
What equipment do you need for Planet Fitness?
You must acquire the fitness equipment and other non-fitness equipment (such as televisions, tanning beds, trusses, lockers, interior signage, flooring, fans, and the like ) for your location through the approved supplier of Planet Fitness.
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.
