Planet Fitness

Planet Fitness

Fitness clubs
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2021 Franchise 500 Rank
#8 Ranked #7 last year
See the Full List
Initial investment
$968K - $4.1M
Units as of 2020
2,059 45.9% over 3 years

Company Overview

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.

About Planet Fitness

Founded
1992
Leadership
Chris Rondeau, CEO
Ticker Symbol
PLNT

Franchising Overview

Franchising Since
2003 (18 years)
# of employees at HQ
271
Where seeking

This company is seeking new franchisees throughout the US.

This company is seeking new franchisees worldwide.

# of Units
2,059 (as of 2020)

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
$968,100 - $4,113,000
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

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
Are exclusive territories available?
Yes

Franchise 500 Ranking History

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

Additional Rankings

Curious to know where Planet Fitness ranked on other franchise lists? Find out below.

Ranked #8

Franchise 500 Ranking

Ranked #14

Fastest-Growing Franchises

Ranked #69

Top Global Franchises

Ranked #5

Fastest-Growing Franchises (U.S. & Canada)

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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