Planet Fitness

Planet Fitness

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Planet Fitness
#32

Initial Investment

LOW: $853,390
HIGH: $3,669,150

Change in Units

+10.8% +110 UNITS (1 Year)
+50.1% +375 UNITS (3 Years)

Company Profile

Founded

1992

Franchising Since

2003 (14 Years)

Corporate Address

26 Fox Run Rd. Newington, NH 03801

CEO

Chris Rondeau

Ticker Symbol

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.

Financials

Financial Requirements

Initial Investment

$853,390 - $3,669,150

Net-worth Requirement

$3,000,000

Liquid Cash Requirement

$1,500,000

Ongoing Fees

Initial Franchise Fee

$20,000

Ongoing Royalty Fee

5%

Ad Royalty Fee

9%

Financing Options

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

Units (Locations)

Where Seeking Franchisees:
Franchisor is seeking new units internationally.

Operations & Franchisor Support

Training Onsite: varies

Training at headquarters: 3-5 days

Additional Training: At certified training club

Ongoing Support
Purchasing Co-ops
Newsletter
Meetings
Toll-Free Line
Grand Opening
Internet
Security
Field Operations

Marketing Support
Co-op Advertising
Ad Slicks
National Media
Regional Media

Number of employees required to run: 12 - 15

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Disclaimer

The Franchise 500 is not intended to endorse, advertise, or recommend any particular franchise. It is solely a research tool you can use to compare franchise operations. Entrepreneur stresses that you should always conduct your own independent investigation before investing money in a franchise.

Updated: September 19th, 2016

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