Planet Fitness

Planet Fitness

Fitness clubs
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2022 Franchise 500 Rank
#7 Ranked #8 last year
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Initial investment
$937K - $4.6M
Units as of 2021
2,174 35.2% over 3 years

Here’s what you need to know if you’re interested in opening a Planet Fitness franchise.

Most people want their workout experience to be in a judgment-free zone. 

Being the largest franchise chain in the U.S. by the number of locations and membership, Planet Fitness has more than 2,000 operating locations worldwide. More than 1,900 of those franchises are located in the United States. Planet Fitness offers fitness training services and facilities, with opportunities available for new locations. They provide a high-quality experience in a welcoming environment. Brothers Marc and Michael Grondahl founded this fitness establishment in 1992.

In 2003, the duo turned their budding business into franchise gyms that offer competitive pricing, an all-inclusive environment, and a streamlined business model.

As a Planet Fitness franchisee, you'll offer casual gym-goers fitness training services, free weights, and exercise machines. You are likely to be part of an upward trending franchise, and even with a small staff size and no fitness background, you can open a new location or convert an existing gym into your own Planet Fitness franchise business.

Why You May Want to Start a Planet Fitness Franchise

Some of the most popular franchises in the United States are gyms. You can start a Planet Fitness franchise that provides 24-hour service in a space that's open to all. Franchisees may be able to target around 80 percent of their community that's not already registered to franchise gyms or that are starting their fitness journey.

Under CEO Chris Rondeau, Planet Fitness offers a nationally recognizable brand, training, and ongoing support. They instruct their franchisees on all the operation's aspects, including a pre-sale marketing plan. Your gym will likely be outfitted with startup inventory.

Planet Fitness may offer an opportunity for casual exercisers and new or occasional gym-goers to experience a safe space where they feel less intimidated under the glare of hardcore bodybuilders. Planet Fitness may also offer low gym membership fees that suit those unsure of their availability or commitment to the franchise gyms. 

What Might Make a Planet Fitness Franchise a Good Choice?

This opportunity may offer high-quality fitness at an affordable price for the occasional exerciser in a less intimidating environment.

To be part of the Planet Fitness team, you should make sure you’re financially ready for an initial investment made up of a franchise fee and other startup costs. It is also important to remember that ongoing fees including advertising, royalty, and renewal fees will be present. Franchisees will also need to meet the company's set net worth and liquid capital requirements. 

Don't worry about knowing the ins and outs of running a fitness center at the beginning of your journey with Planet Fitness. The franchisor is known to offer hours of training coupled with ongoing support. 

How to Open a Planet Fitness Franchise

If you want to get started with Planet Fitness, don't wait. If your net worth and available liquid capital match the brand’s requirements, you may qualify to open a Planet Fitness franchise, and you can get started with an initial investment. Franchisees should analyze their locations to make sure the market is right in that area. 

As you speak to existing franchisees during the process, you can ask questions directed to the Planet Fitness team to learn about their experiences. This could be a chance to stretch your limits and open a gym that everyone can feel comfortable in. 

Find Your Perfect Franchise

Company Overview

About Planet Fitness

Founded
1992
Leadership
Chris Rondeau, CEO

Franchising Overview

Franchising Since
2003 (19 years)
# of employees at HQ
229
Where seeking

This company is seeking new franchisees throughout the US.

This company is seeking new franchisees worldwide.

# of Units
2,174 (as of 2021)

Franchisor Information

Corporate Address
4 Liberty Ln. West
Hampton, NH 03842

Information for Franchisees

Here’s what you need to know if you’re interested in opening a Planet Fitness franchise.

Financial Requirements & Ongoing Fees

Here’s what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.

Initial Franchise Fee
$20,000
Initial Investment
$936,600 - $4,558,000
Net Worth Requirement
$3,000,000
Cash Requirement
$1,500,000
Royalty Fee
7%
Ad Royalty Fee
9%
Term of Agreement
10 years
Is franchise term renewable?
Yes
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Financing Options

Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.

Third Party Financing
Planet Fitness has relationships with third-party sources which offer financing to cover the following: startup costs, equipment

Training & Support Offered

Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.

On-The-Job Training
20 hours
Classroom Training
74 hours
Additional Training
At certified training club
Ongoing Support
Purchasing Co-ops
Newsletter
Meetings & Conventions
Toll-Free Line
Grand Opening
Online Support
Security & Safety Procedures
Lease Negotiation
Field Operations
Site Selection
Proprietary Software
Franchisee Intranet Platform
Marketing Support
Co-op Advertising
Ad Templates
National Media
Regional Advertising
Social Media
SEO
Website Development
Email Marketing
Loyalty Program/App

Operations

Additional details about running this franchise.

Is absentee ownership allowed?
No
Can this franchise be run from home/mobile unit?
No
Can this franchise be run part time?
No
# of employees required to run
12-15
Are exclusive territories available?
Yes
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Franchise 500 Ranking History

Compare where Planet Fitness landed on this year’s Franchise 500 Ranking versus previous years.

Stock History for Planet Fitness

Ticker Symbol for Planet Fitness: PLNT

Additional Rankings

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Disclaimer
The information on this page is not intended as an endorsement or recommendation of any particular franchise by Entrepreneur Media. Our franchise listings and rankings are solely research tools you can use to compare franchise operations. Entrepreneur stresses that you should always conduct your own independent investigation before investing in a franchise. That should include reviewing the franchisor's legal documents, consulting with an attorney and an accountant, and talking to former and current franchisees.
Updated: February 8th, 2021