Planet Fitness

At a Glance

Products & Services: Fitness club

Number of Locations: 818

Total Investment: $1.6M - $2.5M

Founded: 1992

Began Franchising: 2003

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.

Franchise Units

Year U.S. Canadian International Company Owned
2014 764 0 0 54
2012 514 0 0 34
2011 416 0 0 18
2010 336 0 0 17
Where Seeking Franchisees: Franchisor is seeking new franchise units throughout the U.S. and Canada.
Direct Capital

Startup Costs, Ongoing Fees and Financing

Total Investment: $1,600,000 - $2,500,000
Franchise Fee: $10,000
Ongoing Royalty Fee: 5%
Term of Franchise Agreement: 10 years, renewable
Financial Requirements
Net Worth: $1,500,000
Liquid Cash Available: $500,000
Operations
40% of all franchisees own more than one unit. Absentee ownership of franchise is NOT allowed. (70% of current franchisees are owner/operators).
Direct Capital
Financing Type In-House Third Party
Franchise Fee
Startup Costs
Equipment
Inventory
Accounts Receivable
Payroll

How This Franchise Supports Franchisees

Training: Available at headquarters: 2 weeks. At franchisee's location: as needed.
Ongoing Support: Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives, Lease Negotiation
Marketing Support: Co-op advertising, Ad slicks, Regional advertising,

Franchise Ranking History

Franchise 500®: #74 (2013), #76 (2012), #81 (2011), #157 (2010),
Fastest-Growing: #25 (2013), #21 (2012), #34 (2011), #41 (2010),
America's Top Global: #68 (2012), #68 (2011),

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