Planet Fitness Franchise For Sale - Gym
Planet Fitness Franchise Opportunities
Planet Fitness franchise is one of the largest fitness US chains by a number of members and locations. They provide an affordable, high-quality fitness experience in a welcoming environment. Planet Fitness franchise opportunities are proven by 1,500 clubs successfully operating worldwide. If you are thinking about how to open a Planet Fitness franchise, begin with a franchise investment information. Be advised to match Planet Fitness franchise cost and profit by analyzing low and high fees you need to pay starting a Planet Fitness franchise. Mind that the franchise requirements for sale could be different depending on the format and scope of business.
How to open a Planet Fitness franchise?
- Ensure you have adequate capitalization.
In order to open a Planet Fitness franchise, you must have a net worth of more than $3,000,000. - Appreciate the investment required for a fitness club franchise.
You will need to consider building and real estate costs, the cost of equipment and signs, the costs of licenses and permits, the cost of uniforms, the cost of insurance, etc. - Evaluate your prior experience and strengths.
You should thoroughly evaluate your prior business experience before applying to become a Planet Fitness franchise owner. - Assess market availability.
You will want to look at the market availability for Planet Fitness franchises and see if there are available markets in your location of interest before proceeding with the franchising application. - Submit your application.
Your application will be reviewed by the Planet Fitness franchise team. You will be emailed a confirmation receipt upon reception of your online application, where we will additionally provide the contact details of the franchise owner. - Receive approval & opening your Planet Fitness franchise.
You will receive franchise approval once your financial and background checks are completed. Approval will only be given to candidates who meet all the requirements of franchise owners.
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How much does Planet Fitness franchise cost?
Planet Fitness has the franchise fee of up to $20,000, with total initial investment from $969,600.
Initial investments: $969,600 - $4,242,500
Net Worth Requirement: $3,000,000
Liquid Cash Requirement: $1,500,000
Estimated Initial Investment
| Type Of Expenditure | Low | High |
|---|---|---|
| Initial Franchise Fee | $20,000 | $20,000 |
| Site Selection Cost | $1,000 | $3,000 |
| Construction Development Plan Review Fee | $0 | $4,000 |
| Leasehold Improvements | $743,000 | $1,785,000 |
| Fitness Equipment | $31,000 | $922,000 |
| Non-Fitness Equipment | $40,000 | $594,000 |
| Pre-Sale/Grand Opening Marketing | $20,000 | $30,000 |
| Exterior Signs | $5,000 | $35,000 |
| Computer System. Point of Sale System, and other Supplies | $11,500 | $18,000 |
| Insurance | $10,000 | $20,000 |
| Real Estate Lease Deposits | $0,000 | $50,000 |
| Other Deposits | $0,000 | $25,000 |
| Professional Fees | $2,000 | $25,000 |
| Your Out-of-Pocket Initial Training Expenses | $1,500 | $6,500 |
| Licenses/Bonds | $100 | $5,000 |
| Operating Cash (Additional Funds Pre-Opening and first six months) | $85,000 | $700,000 |
| Total Estimated Initial Investment* | $969,600 | $4,242,500 |
* The data above, compiled from the Planet Fitness FDD (Franchise Disclosure Document) 2020, represent the estimated financial range for the initial setting up and first 6 months of operation for a new Planet Fitness gym.
Ongoing Fees
Initial Franchise Fee: $20,000
Ongoing Royalty Fee: $449 - $549/mo.
Ad Royalty Fee: $300/mo.
You will pay a lump-sum nonrefundable Initial Franchise Fee in the amount of $20,000 when you sign the Franchise Agreement. The Initial Franchise Fee is uniform and non-refundable. All initial fees are the same for both initial and conversion franchises.
If you acquire rights under our Area Development program, you will pay an Area Development Fee equal to $10,000 per location to be developed under the Area Development Agreement when you sign the Area Development Agreement. The Area Development Fee is uniform and non-refundable. The Area Development Fee is in addition to the then-current Initial Franchise Fee due for each location at the time the Franchise Agreement for that location is executed.
If you sign an Area Development Agreement, the Initial Franchise Fee for each location opened under the Area Development Agreement will be $20,000 for Franchise Agreements entered into within four years of the effective date of your Area Development Agreement. After four years the Initial Franchise Fee for each location opened under the Area Development Agreement will be equal to then-current Initial Franchise Fee being charged to new franchisees. You must commit to opening a one or more PLANET FITNESS locations as a condition of acquiring area development rights, either yourself or through one or more entities in which you own 51% or more interest.
Are you interested in starting Planet Fitness Franchise in the USA, Canada, Mexico, India, Malaysia, the Philippines, Germany, Saudi Arabia, the UK, or another country?
We provide estimated franchise costs for some countries:
- In the United States, the total investment to start the Planet Fitness gym is around $969,600 to $4,242,500.
- In Canadian currency, the investment comes around Can$ 1,231,300 to Can$ 5,387,800.
- In Mexican currency, the investment comes around Peso 20,19 million to Peso 88,33 million.
- In Indian currency, the investment comes around Rs 7,14 crores to Rs 31,23 crores.
- In Malaysian currency, the investment comes around MYR 3,93 million to MYR 17,21 million.
- In Philippine currency, the investment comes around Php 47,15 million to Php 206,34 million.
- In currency of Germany, the investment comes around EUR 805,430 to EUR 3,524,180.
- In Saudi Arabia currency, the investment comes around SR 3,64 million to SR 15,91 million.
- In currency of the United Kingdom, the investment comes around £694,900 to £3,040,600.
Support Options
Classroom Training: 80 hours
Additional Training: Ongoing training
Absentee Ownership Allowed
Planet Fitness Franchise Info: https://www.planetfitness.com
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Other fees for Planet Fitness Franchise
| Type of Fee | Amount | Due Date |
|---|---|---|
| Royalty | $7% of the total gross monthly and annual membership fees payable to you via EFT Dues Draft | Paid monthly and annually |
| Interest | Will vary under the circumstances | When underlying obligation is paid |
| Internet Membership and Balance Payment Administration Fee | Set according to our Methods of Operations, presently 55 per membership application or balance payment we process for your franchise location | Paid monthly |
| Refresher Training Workshops | $500 to $1,500 Will vary under the circumstances. |
As we and you agree |
| Per Diem Fee | $100 to $1,000 Will vary under the circumstances. |
As we and you agree |
| Re-Equip Costs | $314,000 to $922,000 | As incurred |
| Remodel Costs | $70,000 to $600,000 | As incurred |
| Fees to Evaluate and Approve Alternative Suppliers | Our reasonable costs and expenses, which currently are expected to range between $1,000 and $5,000, although costs could greatly exceed those amounts depending on the product | Upon receipt of our bill |
| Insurance | Will varу under the circumstances: estimated insurance premiums for your first year are $10,000 to $20,000 | As incurred |
| National Advertising Fund Fee | 2% of the total gross monthly EFT Dues Draft. | Via EFT when the Royalty is paid |
| Local Advertising Fee ("LAF") | Greater of $15,000 or 7% of the total gross quarterly EFT Dues Draft | Expended quarterly according to our Methods of Operations as per your advertising budget |
| Special Marketing Programs | Varies, maximum of 9% total gross monthly EFT Dues Draft | Upon demand |
| Auditing Costs | Our actual costs, which may range from $3,000 to $15,000 | After inspection or audit |
| Franchise Agreement Transfer Fee | $10,000, plus our reasonable out-of-pocket expenses, including external legal and administrative costs we incur in connection with the transfer. | Prior to or concurrently with transfer |
| Area Development Agreement Transfer Fee | You must pay a supplemental fee of $5,000, per location remaining to be developed, plus our reasonable out-of-pocket expenses, including external legal and administrative costs we incur in connection with the transfer. | Prior to or concurrently with transfer |
| Relocation Fee | $5,000 | Prior to relocation |
| Construction Development Plan Review Fee | $4,000 | Upon your submission of your Construction Development Plans for our approval |
| Point of Sale Support, Processing and Account Management Services Fees | $149-$199 plus processing and credit card fees based on the number of transactions processed per month or number of eligible accounts enrolled in collections. Estimated annual transaction costs per location range from $9,000- $72,000 | Monthly |
| Point of Sale Training Fee | $800 per person, per day | As incurred |
| Successor Franchise Fee | Equal to 50% of our then-current initial franchise fee. subject to maximum fee of $40,000 | Concurrently with our granting a successor franchise to you |
| Indemnification | Will vary under circumstances | As incurred |
| Costs and Attorney’s Fees | Actual costs | Reimbursement of our actual costs |
| Inspection & Compliance Reimbursement | Actual costs (approximately $1,200 per visit) | Upon demand |
| Cure Period Extension Fee (Franchise Agreement) | 2% of the total gross EFT Dues Draft | Paid monthly via EFT on the day designated as your Monthly Membership Billing Day, as defined in our Franchise Agreement |
| Grace Period Fee (Area Development Agreement) | $2,500 | Paid monthly beginning on the first day of the Paid Grace Period |
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Starting investments from:$969,600
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Company type:Gym
- Company foundation year1992
- Year of launching the franchise2003
- Franchise enterprises:1,353
- Corporate Address:4 Liberty Ln. West Hampton, NH 03842, USA
- Units in USA:1000+
- Units in Canada:11
- Units in Mexico:1
- Units in Panama:4
- Units in Dominican Republic:1
- Units in Puerto Rico:12
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