Planet Fitness
#21 Franchise 500| Fitness clubs

Planet Fitness
Fitness clubs

About
Founded

1992

Franchising Since

2003 (15 Years)

Corporate Address

4 Liberty Ln. West
Hampton, NH 03842

CEO

Chris Rondeau

Ticker Symbol

PLNT

Financial Requirements
Initial Investment

$857,080 - $4,234,750

Net-worth Requirement

$1,500,000

Liquid Cash Requirement

$600,000

Ongoing Fees
Initial Franchise Fee

$20,000 - $20,000

Ongoing Royalty Fee

7%

Ad Royalty Fee

9%

Financing Options

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

Support Options
Ongoing Support

Purchasing Co-ops

Newsletter

Meetings/Conventions

Toll-Free Line

Grand Opening

Online Support

Security/Safety Procedures

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

On-The-Job Training:

20 hours

Classroom Training:

76 hours

Additional Training:

At certified training club

Number of Employees Required to Run:

12 - 15

Planet Fitness is ranked #21 in the Franchise 500!
Bio
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.
Cost
Initial Investment: Low - $857,080 High - $4,234,750
Units
+25.5%+287 UNITS (1 Year) +53.7%+493 UNITS (3 Years)

Units (Locations)

Where Seeking Franchisees:

Franchisor is seeking new franchise units throughout the U.S. and in the following regions/states: Canada
Franchise Financing
Using 401(K)/IRA Funds
  • Tax Penalty-Free
  • Debt Free
  • Expert Guidance
Learn More

Franchise Articles

How the CEO of Planet Fitness, Which Counts 10 Million Members, Went From Front Desk Clerk to Top Exec

Planet Fitness CEO Chris Rondeau shares what more than 25 years of working at the same company has taught him and the only leadership book he's ever read.

The Work Behind Fast-Growing Franchises

Quick overexpansion is easy. But preparing for strong, lasting growth? That's harder.

How Planet Fitness Aims to Become the McDonald's of Gym Franchises

Affordable, streamlined and closing in on 1,000 locations – can Chris Rondeau turn Planet Fitness into a mega-chain of McGyms?

'It's Never Too Late' to Become a Bolder, Braver Version of Yourself, Says This C-Suite Executive -- Here Is Her Strategy.

Shoprunner COO Stacey Bernhard reveals how she found the strength to walk away from solid jobs.

Learn How the Right Payment Processor Can Drive More Sales

The ability to accept credit cards is a must for any modern business. But franchise systems shouldn't be afraid to expect more from their payment-processing vendor.

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: November 29th, 2017
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