#74
At a Glance
Products & Services: Fitness club
Number of Locations: 548
Total Investment: $672.6K - 1.66M
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 |
| 2012 | 514 | 0 | 0 | 34 |
| 2011 | 416 | 0 | 0 | 18 |
| 2010 | 336 | 0 | 0 | 17 |
| 2009 | 267 | 0 | 0 | 11 |
Where Seeking Franchisees: Franchisor is seeking new franchise units throughout the U.S. and Canada.
Startup Costs, Ongoing Fees and Financing
Total Investment: $672,600 - $1,658,000
Franchise Fee: $10,000
Ongoing Royalty Fee: 5%
Term of Franchise Agreement: 10 years, renewable
Franchise Fee: $10,000
Ongoing Royalty Fee: 5%
Term of Franchise Agreement: 10 years, renewable
Financial Requirements
Net Worth: $1,300,000
Liquid Cash Available: $400,000
Operations
40% of all franchisees own more than one unit. Absentee ownership of franchise is NOT allowed. (70% of current franchisees are owner/operators).| Financing Type | In-House | Third Party |
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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,