About Planet Fitness
Planet Fitness got its start in 1992 when Michael Grondahl acquired a struggling gym. He reduced membership prices to compete against better-known brands and focused on serving occasional or first-time gym users. Every Planet Fitness location holds a pizza night for members once a month, as well as a bagel morning, and Tootsie Rolls are available at all times. Each gym also has a “Lunk Alarm” to discourage behaviors such as grunting and dropping weights.
Planet Fitness (NYSE:PLNT) is taking the fitness industry by storm! Enhancing people’s lives with an affordable, high-quality fitness experience requires a team of inspiring, motivated and fun-loving go-getters. As one of the largest and fastest-growing franchisors and operators of fitness centers in the United States, Planet Fitness is just getting warmed up.
At Planet Fitness, we’re here to provide a unique environment in which anyone – and we mean anyone – can be comfortable. A diverse, Judgement Free Zone® where a lasting, active lifestyle can be built. Our product is a tool, a means to an end; not a brand name or a mold-maker, but a tool that can be used by anyone. In the end, it’s all about you. As we evolve and educate ourselves, we will seek to perfect this safe, energetic environment, where everyone feels accepted and respected. We are not here to kiss your butt, only to kick it if that’s what you need.
We’re continuously seeking top talent to join us in cultivating the Judgement Free Zone®and shaping the future of our brand. With more than 2,000 locations in all 50 states, the District of Columbia, Puerto Rico, Canada, the Dominican Republic, Panama, Mexico and Australia, there’s plenty of opportunity on our Planet and we are always looking for talented individuals to join our team!
Company Founded
1992
Current Leadership
Chris Rondeau, CEO
Started Franchising
2003 (18 years)
Total Number of Units
2,059 (as of 2020)
Part-Time / Full-Time
Full Time
Stock Ticker Symbol
PLNT
How Much Does It Cost To Open A Planet Fitness Franchise?
There are several costs associated with opening a Planet Fitness franchise. There is typically a franchise fee set by the franchisor, which covers the costs of opening a franchise location. Some other commons fees include equipment fees, marketing fees, licensing fees, insurance, and taxes, to name a few.
Some franchises may have a weekly fee that the franchisee pays for operating a Planet Fitness franchise. The weekly fee for opening a Planet Fitness franchise is Royalty Fees Paid Monthly And Annually.
The full breakdown of these fees can be found in the Financial Disclosure Document (FDD) provided to franchisees by the franchisor. The FDD report will contain additional information such as whether the franchise is renewable (Planet Fitness Is Renewable) and does the franchise offer financing support (Planet Fitness Planet Fitness has relationships with third-party sources which offer financing to cover the following: startup costs, equipment).
Planet Fitness Company Details
Here are some additional details about Planet Fitness.
| Initial Investment | $20,000 |
| Net Worth Requirement | $3,000,000 |
| Royalty Fee | 7% |
| Ad Royalty | 9% |
| Cash Requirement | $1,500,000 |
| Term of Agreement | 10 years |
| Absentee Ownership | No |
| Run from Home | No |
| Part Time | No |
Training and Support Offered By Planet Fitness
Planet Fitness offers several support options to its franchisees. With 2,059 (as of 2020) units, Planet Fitness aims to provide support to each franchise owner to help them operate a successful franchise location. Planet Fitness offers 20 hours on the job training, 74 hours classroom training, and At certified training club additional training.
Training and Support Offered
Here are the support options offered by Planet Fitness.
| On-The-Job Training | 20 hours |
| Classroom Training | 74 hours |
| Additional Training | At certified training club |
| Ongoing Support |
|
| Marketing Support |
|
| Estimated Revenue | $500M to $1B |
Is Planet Fitness Right For You?
Planet Fitness has gone digital! Here are all of the ways you can find Planet Fitness online. Oftentimes, you can reach out to current franchisees of Planet Fitness online. Current franchisees may be able to offer personalized insights into what it is like owning a Planet Fitness franchise and offer tips to running a successful Planet Fitness franchise location.
Why Should You Start a Planet Fitness Franchise?
Investing in a Fitness franchise such as Planet Fitness can kickstart your franchise portfolio. Our goal at Why Franchise is to provide you with the resources needed to be a successful franchise owner. Fill out the form below to get more information about Planet Fitness franchise and we'll be in touch soon!
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