Planet Fitness

Planet Fitness is a workout gym that offers a judgment-free experience for everyone who wants to stay healthy and fit. It was founded in 1992 by Marc and Michael Grondahl, definitely one of the oldest fitness facilities in the United States. Marc and Michael acquired a financially struggling gym. Through some marketing analysis such as reducing the membership price, they were able to save the company.
In 2003, Planet Fitness started franchising. From a struggling gym, Planet Fitness now has a total of 1400 units across the United States. Training is extremely difficult and challenging for the members. So, Planet Fitness holds a pizza night and a bagel morning at least once a month exclusive for all its members. Tootsie rolls are available too. Its goal is to provide a friendly environment and a healthy space to work out. As the members call it the Judgment Free Zone. It cultivates a positive outlook by focusing on your own workout and not the person next to you.
Key Points
Founders: Marc and Michael Grondahl
Headquarter – Hampton, New Hampshire, USA
Initial Investment – $969,600 to $4,242,500
Initial franchise fee – $20,000
Royalty fee – 7%/month
Ad royalty fee – 9%/month
Net worth requirement – $1,500,000
Liquid cash requirement – $600,000
Initial Agreement Length: 10 years
Why franchise with Planet Fitness?
It is the one and only judgment free zone.
It has a well-thought business plan. It started in 1992 but it didn’t immediately start franchising. It was in 2003 when it was opened to franchise; which took a decade to refine the brand.
It has a low-cost gym franchise.
It is the primary sponsor of the weight loss reality TV show, “The Biggest Loser.” So, when you franchise with Planet Fitness, you get national exposure.
It has over 12 million members and over 1600 locations opened across the United States, Canada, and Latin America.
It provides financing assistance through its third party financing partners. The financing assistance covers the cost of opening a franchise, location, equipment, and the likes.
It has a median annual membership revenue of $1.7 million.
It has a median annual operating income of $567,000.
It has a system wide sales of $1.9 billion.
Note:
Planet Fitness is currently not accepting new franchise applications. However, if you are an experienced multi-unit operator, you might want to contact Planet Fitness, tell them more about yourself, and they will consider you when the opportunity presents in the future.

Originally posted on http://www.fitnessfranchiseopportunities.net/top-10-fitness-franchise-to-own-2019/planet-fitness/