Planet Fitness is a fitness center targeted at new or occasional exercise. If you are looking for Planet Fitness Franchise, then you are at the right place.
You will find all the details related to Franchise here. We will also assure some beneficial points that will be helpful to you, so let’s begin.
About Planet Fitness
Currently, Planets Fitness operates more than 1600 gyms having more facilities than any other gym.
Their gym is attached to people with a unique advertising campaign. Planet fitness focuses on those who don’t routinely go to the gym.
They are open to people of all sizes and shapes. Planet Fitness Franchise is the fastest-growing Franchise than any other fitness franchise.
The only reason behind the success of Planet fitness is adopting new technology and creating something new in the gym to attract customers.
Planet Fitness History
In 1992, Michael Grondahl and Marc Grondahl purchased a New Hampshire gym facing financial trouble and operated to turn it around by drastically cutting prices.
They closed the original location and purchased it from a third partner, CEO Chris Rondeau.
In 1993, Planet Fitness eventually expanded to three clubs and a Gold’s Gym Franchise.
Moreover, In 2003, It started to offer franchises, and it opened its first franchise location in Florida with Erica Dore and Shane McGuiness.
In 2016, the Franchise was added to the franchise times “Fast and Serious” list of top franchises, and its 2016 ranking the Franchise.
And today, the Planet Fitness franchise has more than 2000 franchises across 50 states in Canada, Latin America, and Australia.
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.
HOTWORX 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 it easy to cancel Planet fitness gym membership?
You need to visit your gym in person or write a postal letter to cancel a membership. They don’t allow canceling membership on the phone; you need to visit personally at the gym to cancel the planet fitness membership.
Can we get a good workout at a planet fitness?
Yes, we get a good workout at planet fitness.
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.
Amit Gupta is the founder of DrFranchises. He has a keen interest in investments, and has thus far invested in a few franchises. Franchise businesses are his forte- he knows all there is to know about their space requirements, fees, ROI potential, and business models. This makes him an ideal candidate for anyone looking to invest in a franchise