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Planet Fitness

2015 Franchise 500
#67
At a Glance

Products & Services: Fitness club

Number of Locations: 827

Total Investment: $824.2K - $3.7M

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 773 0 0 54
2013 627 0 0 45
2012 514 0 0 34
2011 416 0 0 18
2010 336 0 0 17
Where Seeking Franchisees: Franchisor is seeking new franchise units in the following states:
Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, Midwest, Nebraska, North Carolina, North Dakota, New Hampshire, New Jersey, New Mexico, Nevada, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South, South Carolina, South Dakota, Southeast, Southwest, Tennessee, Texas, Utah, Virginia, Vermont, West, Washington, Wisconsin, West Virginia, Wyoming.
Direct Capital

Startup Costs, Ongoing Fees and Financing

Total Investment: $824,200 - $3,725,000
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®: #67 (2015), #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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