The Planet Fitness Franchise is an excellent opportunity for entrepreneurs looking to start their own businesses.
With its low initial investment costs, comprehensive training and support program, and attractive return on investment, this franchise offers a unique way to become your own boss.
In this article, we will explore the different aspects of the Planet Fitness Franchise including the franchise fees, profit potential, total investment cost, training and restrictions, renewal policies, and return on investment.
With this information in hand, you can make an informed decision about whether or not the Planet Fitness Franchise is right for your business goals!
About Planet Fitness
The company began in 1992 when founders Michael Grondahl and Marc Grondahl sought to bring an affordable gym experience to their local community.
After successfully opening their first location in Dover, New Hampshire, the brothers decided to expand by offering franchises of their gyms throughout the United States and Canada.
By 1999, Planet Fitness had acquired more than 20 locations around New England and was featured in Entrepreneur magazine as one of the fastest-growing companies in America.
As their popularity grew, they opened more franchises across North America and eventually expanded to Europe, Latin America, Australia, and Asia.
In 2005, Entrepreneur Magazine named Planet Fitness the number one fast-growing franchise. That same year, private equity firm TSG Consumer Partners purchased majority ownership of the company, allowing them to expand its reach with additional stores opening in new markets.
In 2012, The Firm’s President & CEO Chris Rondeau took over the company’s day-to-day operations.
Today, Planet Fitness has over 1,800 locations worldwide and continues to grow.
Planet Fitness Franchise Model
| Initial Investment | $936,600-$4,558,000 |
| Franchise-Fee | $20,000 |
| Royalty | 7% |
| Area Requirement | N/A |
| Total Outlets | 2000 Units |
Term & Agreement
The actual length of the term is ten years from the date franchisor starts operations. If the Franchisor meets the requirement, they may be granted a successor franchise.
Training
Planet Fitness provides initial on-job training of 20 hours and 74 hours of classroom training.
The ongoing training will provide training on field operation, online support, lease negotiation, site selection, franchise intranet platform, etc.
Planet Fitness Comparison
| Company | Planet Fitness | HOTWORX |
|---|---|---|
| Founded In | 1992 | 2014 |
| Initial Investment | $936,600-$4,558,000 | $188,070 to $351,885 |
| Franchise-Fee | $20,000 | $19,950 |
| Total Outlet | 2000 | 210 |
| Annual Revenue | $429.18 Million | $341,000 |
FAQ
Is Planet Fitness profitable?
Planet fitness is a highly profitable franchise. The annual revenue of Planet and Fitness was over 100 million between 2019 and 2020.
Is Planet Fitness a franchise?
Yes, Planet Fitness is a franchise, and it operates more than 2000 clubs and fitness centers globally.
How much does a Planet Fitness franchise cost?
The franchise fee for Planet Fitness franchise is $20,000, and the cost of investment range from $936,600-$4,558,000.
Who is the owner of Planet Fitness?
Planet Fitness is owned by the publicly-traded corporation, PFIP LLC (formerly known as The Family Fitness Centers LLC), which was founded in 1992 by original owners Michael and Marc Grondahl.
Amit Gupta is the founder of DrFranchises – a digital marketing agency that helps brands rank better on Google Maps through local SEO strategies. Amit has over 11 years of experience in digital marketing, SEO, email marketing, and social media marketing. He’s also the owner of multiple franchises and has helped countless brands achieve success online. When he’s not working, Amit can be found playing with his dog.