$513,00 to $5,554,000 annually
An individual planet fitness franchise owner can make around$513,00 to $5,554,000 annually. However,the profit varies on your location also. There are some units of Planet fitness franchisees making more than that or some making less than that.
How much does it cost to own a Planet Fitness?
When purchasing a Planet Fitness franchise, the fee would be 10,000 dollars for a 10-year renewable agreement, while the total investment ranges from 700,000 to 3.8 million dollars. Aside from this, franchisees must also pay a 5% ongoing royalty fee for all the sales to PlanetFitness.
What is the hourly wage at Planet Fitness?
These charts show the average hourly wage (core compensation), as well as the average total hourly cash compensation for the job for Trainer in companies like Planet Fitness in the United States. The average hourly rate for Trainer in companies like Planet Fitness range from $15 to $29 with the average hourly pay of $21.
How much Planet Fitness pay?
To access the Planet Fitness facilities, You have to pay an annual fee of ~ $40 and usually used in club maintenance, Repairing and upkeep. Planet Fitness Annual fee is $ 39, and the billing date is based on your joining date. Planet Fitness Annual fee is charged around eight weeks after your joining.
What does Planet Fitness pay their employees?
While Planet Fitness employees earn an average yearly salary of $23,928, different roles can command different wages. Some of the job titles with high salaries at Planet Fitness are Team Leader, General Manager, Personal Trainer, and Maintenance Technician.
How long is the pre-sale marketing period for Planet Fitness?
The pre-sale/grand opening marketing period typically begins no less than 45 days immediately before the date that you intend to commence regular operations at your Planet Fitness location, and it may be as long as 180 days after you commence regular operations (“Pre-Sale/Grand Opening Marketing Period”).
How many square feet does a planet fitness business need?
Typically, you will need to lease a building of approximately 15,000 to 25,000 square feet and pay the cost of site work and/or leasehold improvements.
How much does it cost to open a planet fitness franchise?
It costs roughly $1,000,000 to $4,000,000 to open a planet fitness franchise. The main variables include whether you buy or finance the equipment and leasehold improvements.
What happens if Planet Fitness fails to execute its pre-sale marketing plan?
If you fail to execute the Pre-Sale/Grand Opening Marketing Plan, Planet Fitness may execute it on your behalf and at your expense.
When was Planet Fitness founded?
Planet Fitness was founded in 1992 by Marc and Michael Grondahl in Dover, New Hampshire. The Grondahls had acquired a struggling Gold’s Gym franchise#N#A franchise is when a business (franchisor) allows a party (franchisee) to acquire its know-how, procedures, processes, trademarks, intellectual property, use of its business model, brand and rights to sell its products and services. The franchisee signs a contract (franchise agreement) with the franchisor to acquire the franchise and generally has a territory granted to operate….#N#and closed it in 1993. They opened a new gym called Coastal Fitness and the Grondahls hired current CEO Chris Rondeau, who was still in college at the time, to run the gym’s front desk. The Grondahls changed the gym’s name to Planet Fitness in 1994.
How much does it cost to down payment on Planet Fitness?
Planet Fitness estimates that your cost to make down payments on non-fitness equipment generally ranges between $32,000 and $182,000, with the total estimated cost to purchase the non-fitness equipment ranging between $318,000 and $606,000.
What equipment do you need for Planet Fitness?
You must acquire the fitness equipment and other non-fitness equipment (such as televisions, tanning beds, trusses, lockers, interior signage, flooring, fans, and the like ) for your location through the approved supplier of Planet Fitness.
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.
What is a planet fitness franchise?
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 …
How much money do you need to open a Planet Fitness franchise?
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.
How much is the area development fee?
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.
Can you add videos to your watch history?
Videos you watch may be added to the TV’s watch history and influence TV recommendations. To avoid this, cancel and sign in to YouTube on your computer.
Why is the gym considered a judgement free zone?
Labeling itself a “judgment free zone”, the gym has rules to discourage hardcore body builders from frequenting its establishments in order to make casual exercisers feel more comfortable and less intimidated by serious exercisers.
How much does it cost to franchise Planet Fitness?
Planet Fitness’s franchise fee is $10,000 for a 10-year renewable agreement, though the total investment ranges from $700,000 to $3.8 Million. Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. To open a gym, a franchisee must have of $3 million with $1,500,000 in liquid assets.
How long is Planet Fitness training?
Overview. Planet Fitness offers its franchisees two weeks of training at the company headquarters. The company offers ongoing assistance in the form of advertising, a phone line, safety procedures, meetings, newsletters, and a grand opening event.
What is a world gym?
World Gym is an iconic, globally-recognized fitness brand in a booming industry. Invest in a World Gym Franchise and profit from a subscription-based revenue model with multiple revenue streams, backed by proven systems and A-to-Z franchisee support.
Does Planet Fitness have Tootsie Rolls?
Planet Fitness reaches out to its customers by having a Pizza Night on the first Monday of each month, a Bagel Morning on the second Tuesday, and complimentary Tootsie Rolls are available constantly. More than one million Tootsie Rolls are given out each month. Planet Fitness is a main sponsor of The Biggest Loser, meaning that the gym gets a lot of national exposure and appeals to a customer base of out of shape people looking to reclaim their lives.
When did Michael Grondahl buy a gym?
In 1992, Michael Grondahl bought a gym in New Hampshire that was failing financially, and managed to turn it around by drastically cutting prices.
Is Planet Fitness a franchise?
Planet Fitness is listed in the Franchise Directory under the Fitness category.