by If you love going to the gym, a Planet Fitness franchise is the perfect fit for you. In fact, you can choose from several roles: franchise owner with management or franchise owner with an owner actively involved in fitness services.
Planet Fitness offers more than just a gym membership. Planet Fitness franchisees are proud to offer support to its members, so that they continue to actively use their Planet Fitness membership benefits.
Planet Fitness Franchise Basic Facts
Yes, the Planet Fitness franchise includes the typical exercise machines and free weights. But there is more :
- Fitness training services, such as working with a personal trainer. The personal trainer can be a staff member assigned to a group of members.
- Tanning cabins and equipment.
- Cardio equipment such as treadmills and running boards.
- Annual membership fee payable on a monthly basis and can be paid for as an internet subscription
- A Planet Fitness franchisee receives extensive on-the-job and in-class training in the use of equipment and the implementation of safety procedures. Some training takes place at the company’s headquarters.
- There are currently over 2,000 Plant Fitness franchises in the United States, in 49 states and Washington DC. The business started in New Hampshire.
- The Planet Fitness business franchise started in 2003
- The franchise is strongest in the south, where there are approximately 700 Planet Fitness franchises. The franchise is expanding into other parts of the country.
- In the fitness industry, the companies at Planet Fitness are focused on being a “judgment-free zone” – creating a welcoming environment for people with diverse fitness goals at all stages of their fitness journey. In other words, members of all ages, genders, and fitness levels are treated with kindness and support.
Planet Fitness Franchise Cost
It’s relatively expensive to get into this franchise, considering the cost of equipment and gear. It is expensive to outfit and outfit the franchise from an empty building to a working fitness center.
The initial franchise fee is $20,000, but a budding franchise owner must have working capital (cash and liquid capital) and a minimum net worth between $200,000 and $700,000. The total investment ranges can be around $1 million, but the initial investment can be up to $4 million. Much depends on the cost of real estate in the area, as well as whether the franchisee is renovating an existing building or constructing a new facility. These costs are comparable to similar franchises.
Minimum and maximum charges vary based on actual costs. For example, the Planet Fitness franchise may consider new applications from franchisees who want to remodel an existing building.
They can even approve alternative suppliers for certain equipment and equipment. These agreements/arrangements would be specified in the franchise agreement.
Planet Fitness Franchise Fees
After the initial franchise fee, new franchisees will also pay other fees such as administrative fees and ongoing fees, including a 7% royalty. Of course, if you rent real estate, there will also be monthly fees. You will also pay national ad fund fees and local ad fees.
Are the fees and costs worth it? Well, you’ll get training and ongoing support from corporate headquarters, which will also help you create a grand opening event. Thanks to the brand name, you will benefit from the existing national exposure.
Your franchise location will be protected from others allowing other Planet Fitness franchises to locate in your area. You will have exclusive territory under the area development agreement. All of these things will be spelled out in the franchise disclosure document.
Planet Fitness Franchise Profit
The benefit of the franchise depends on several factors, such as your commercial rental rates, if any. Franchise costs also vary by location (which can define your labor costs), utility costs, and the cost of other supplies, such as cleaning supplies.
Planet Fitness Franchise Owner Salary
Your gross monthly intake is based on your memberships, which range from $10 to $25 per month for the deductible. After covering your start-up costs, your total gross monthly income could far exceed your expectations, depending on the number of subscriptions you sell.
Similar fitness center franchises cite the same challenge – getting members can be relatively easy, but retaining them can be difficult. Your sales system should include regular contact with members to ensure they use the facilities and are supported by your staff.
In the fitness/gym industry, here’s a staggering statistic – about half of the people who sign up for memberships never go. And these are the people who do not renew their membership.
What can you do? The majority of Planet Fitness franchisees earn $50,000 per year or more in the first year, which is a record number in the franchise industry. That’s after paying customer service reps ($12 per hour on average), night manager ($14 per hour), and manager ($40,000 per year).
Planet Fitness Franchisee Requirement
As we stated, you need a strong financial position to qualify as a franchisee with a franchise agreement. But you’ll need more than that to run a Planet Fitness business:
Net worth of $3 million
Liquid capital of $1.5 million
Interpersonal skills, experience in public relations
Gym experience – familiarity with fitness equipment and equipment
Fitness Program Skills – able to help members develop their goals
Is Opening a Planet Fitness Franchise Worth It?
Planet Fitness franchise opportunities are not many, although the company is expanding into new areas with more franchises.
With your deductible, you’ll get health, dental, and life insurance, as well as a retirement plan and the ability to earn Planet Fitness stock.
As we asked at the beginning, do you like going to the gym? Do you like to train? Do you enjoy helping and instructing others as they strive to achieve their fitness goals?
Then it might be time to turn your favorite hobby into a job. If you love what you do, you will succeed in the Planet Fitness business.
Image: Depositphotos
