Can Someone Else Use My Planet Fitness Card
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Planet Fitness got its get-go in 1992 when Michael Grondahl acquired a struggling gym. He reduced membership prices to compete confronting better-known brands and focused on serving occasional or first-fourth dimension gym users. Every Planet Fitness location holds a pizza nighttime for members once a calendar month, every bit 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.
- Leadership
- Chris Rondeau, CEO
- Franchising Since
- 2003 (19 years)
- Where seeking
-
This company is seeking new franchisees throughout the US.
This visitor is seeking new franchisees worldwide.
- # of Units
- ii,174 (equally of 2021)
- Corporate Accost
- 4 Liberty Ln. West
Hampton, NH 03842
Hither'due south what you demand to know if you're interested in opening a Planet Fitness franchise.
Hither'south what you can await to spend to first 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
- Internet Worth Requirement
- $3,000,000
- Cash Requirement
- $1,500,000
- Term of Agreement
- 10 years
- Is franchise term renewable?
- Aye
Some franchisors offer in-house financing, while others take relationships with third-political party financing sources to which they refer qualified franchisees.
- Third Party Financing
- Planet Fitness has relationships with third-political party sources which offer financing to cover the following: startup costs, equipment
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
- On-The-Chore Training
- 20 hours
- Classroom Training
- 74 hours
- Additional Training
- At certified training club
- Ongoing Support
-
Security & Safe Procedures
Franchisee Intranet Platform
Additional details near running this franchise.
- Is absentee buying allowed?
- No
- Tin this franchise be run from domicile/mobile unit of measurement?
- No
- Tin this franchise be run part time?
- No
- # of employees required to run
- 12-15
- Are exclusive territories available?
- Yes
Compare where Planet Fettle landed on this yr'southward Franchise 500 Ranking versus previous years.
Curious to know where Planet Fitness ranked on other franchise lists? Find out below.
Are you lot eager to come across what else is out there? Scan more franchises that are like to Planet Fitness.
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Disclaimer
The information on this page is not intended as an endorsement or recommendation of whatever item franchise by Entrepreneur Media. Our franchise listings and rankings are solely enquiry tools you tin can use to compare franchise operations. Entrepreneur stresses that you lot should always comport your own contained 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 one-time and current franchisees.
Updated: Feb 8th, 2021
Source: https://www.entrepreneur.com/franchises/planetfitness/329333
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