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About Planet Fitness
Planet Fitness Franchise Costs and Profitability
Fitness franchise focused on casual gym users focused on positive body image and fun. Famous for their monthly pizza night for members.
How much does it cost to start a Planet Fitness Franchise?
A Planet Fitness franchise requires a total investment of $937K - $4.6M including $1,500,000 of cash on hand. You will also need to have a net worth of at least $3,000,000. Planet Fitness also has a franchise fee of $20,000.
Planet Fitness Franchise Requirements and Fees
If you're thinking about investing in a Planet Fitness here's what you should expect to pay upfront and throughout the life of the business.
- Liquid capital (Cash): $1,500,000
- Net worth: $3,000,000
- Total investment: $937K - $4.6M
- Veteran Incentives: None
- Franchise Fee: $20,000
- Royaltee Fee: 7%
- Term of Agreement: 10 years
Planet Fitness training program
Combination of on-the-job training and classroom instruction for franchise owners.
On-The-Job Training: 20 hours
Classroom Training: 74 hours
About Planet Fitness
Planet Fitness was founded by Michael Grondahl in 1992 when he purchased a local gym that was struggling. Instead of trying to gain more serious gym-goers, Grondahl switched focus towards people that have never gone or rarely go to the gym. He lowered monthly rates, and made the environment more newby friendly by discouraging typical gym rat behavior like dropping weights, grunting, etc.. via their "Lunk Alarm". Today Planet Fitness has over 2,000 locations and is focused on the 80% of the population that do not own a gym membership.