Planet Fitness

2015 Franchise 500
At a Glance

Products & Services: Fitness club

Number of Locations: 1,014

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 956 0 0 58
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 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.
Franchisor is seeking new units in 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
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..
Financing Type In-House Third Party
Franchise Fee
Startup Costs
Accounts Receivable

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),