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Planet Fitness

2015 Franchise 500
#67
At a Glance

Products & Services: Fitness club

Number of Locations: 976

Total Investment: $728.3K - $3.8M

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
2015 919 0 0 57
2014 863 0 0 55
2013 704 0 0 45
2012 562 0 0 44
2011 457 0 0 31
Where Seeking Franchisees: Franchisor is seeking new franchise units throughout the U.S. and Canada.

Startup Costs, Ongoing Fees and Financing

Total Investment: $728,290 - $3,777,800
Franchise Fee: $10,000
Ongoing Royalty Fee: 5%
Term of Franchise Agreement: 10 years, renewable
Financial Requirements
Net Worth: $3,000,000
Liquid Cash Available: $1,500,000
Operations
87% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 12 - 15. Absentee ownership of franchise is NOT allowed..

How This Franchise Supports Franchisees

Training: Available at headquarters. Available at franchisee's location. At certified training club
Ongoing Support: Newsletter, Meetings, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives, Lease Negotiation
Marketing Support: Co-op advertising, National media, Regional advertising,

Franchise Ranking History

Franchise 500®: #67 (2015), #74 (2013), #76 (2012), #81 (2011),
Fastest-Growing: #14 (2015), #25 (2013), #21 (2012), #34 (2011),
America's Top Global: #68 (2012), #68 (2011),

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