How much does it cost to start a Planet Fitness?
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.
What month does Planet Fitness charge its annual fee?
There is no fixed month when Planet Fitness charges the annual fee. The date of billing the annual fee depends on when you join. For instance, if you join Planet Fitness on the 1st of august, your annual fee will be charged on the first of October. Likewise, if you join on the 1st of March, the charging date will be the 1st of May, and so on.
Does planet Fitness waive annual fee?
From this document, you’ll realize that, yes, Planet Fitness does waive its annual fees. They host programs and select a few participating locations that charge zero yearly fees. Can You Negotiate With Planet Fitness? With luck, you can negotiate a Planet Fitness contract with the person at the front desk.
Is planet Fitness really $10 a month?
Yes,The Planet Fitness classic membership costs $10 a month,in which you get features like Unlimited Access to Home Club,Free Fitness Training,Free WiFi. Visit their official website to find out if It is available at your location.
How much does Planet Fitness charge?
Planet Fitness charges a $39.00 annual fee for Black Card, Classic, or No Commitment Membership, and the due date will get stamped on the envelope, which is usually two months after you join.
How long do you have to cancel a membership to avoid the annual fee?
To avoid your annual fee, you have to cancel your membership one week or earlier from the date of the annual fee.
How long after joining a company is the annual fee billed?
The annual fees billing date is dependent on your join date. The annual fee, which is $39, is billed eight weeks after your join date.
When was Planet Fitness founded?
Planet Fitness was started in 1992 by Michael Grondahl and Marc Grondahl and is now considered one of the most popular and famous fitness centers in the United States, with 2,039 clubs. In this article, you will get detailed information about Planet Fitness annual fee.
Does Planet Fitness charge an annual fee?
Does Planet Fitness Charge Annual Fee?
Yes, Planet Fitness does charge an annual fee. The fee will go mainly towards buying, maintaining, and upgrading the equipment, or improving other facilities.
What Is The Annual Fee For Planet Fitness
The typical annual fee at Planet Fitness is $39. And the annual fee is the same for all kinds of memberships including the black card, classic, or even the no-commitment membership.
What is The Annual Fee For Planet Fitness Black Card?
The annual fee for the Planet Fitness black card is set at $39, which you will pay 8 weeks after you join the gym.
Does Planet Fitness Charge Annual Fee Every Year
Yes, Planet Fitness charges an annual fee every year. The annual fee is currently set at $39, which they may modify at a later point in time.
When Does Planet Fitness Charge the Annual Fee?
Planet Fitness charges the annual fee 8 weeks after you join the club. So, it doesn’t matter when you join, or in other words, there is no fixed date when planet fitness bills the annual fee.
Why Does Planet Fitness Charge an Annual Fee?
The major reason why Planet Fitness charges an annual fee is to improve the gym facilities. Improving the gym facilities may include buying new machines, maintaining the current ones, improving other facilities, etc.
How to Avoid Planet Fitness Annual Fee
Unfortunately, there is no practical way to avoid Planet Fitness annual fee.
What is Planet Fitness membership?
Planet Fitness $ 10 membership features may vary by its location, but in general, it includes Unlimited Access to Home Club, Free Fitness Training, and Free WiFi.
How long is Planet Fitness free trial?
Planet Fitness offers a one-day free trial, and You can request Another free trial after 90 days.
How much does Planet Fitness cost?
Yes, The Planet Fitness classic membership costs $ 10 a month, in which you get features like Unlimited Access to Home Club, Free Fitness Training, Free WiFi. Visit their official website to find out if It is available at your location.
How to cancel a club membership?
To cancel, you will need to go to your home club in person, fill out a cancellation membership form at the help desk, or send a letter to your club requesting cancellation. If you are in a 12-month commitment membership and terminate membership in the meantime, you will have to pay around $ 58.
How to contact Planet Fitness?
Planet Fitness Customer Services Number: (844) 880-7180. Or.
Do you have to pay a cancellation fee for Planet Fitness?
The fee for canceling a Planet Fitness membership depends on the membership you have. If you have been a member for more than a year or have signed up for a non-commitment membership, you do not have to pay any cancellation fee.
Is Planet Fitness free?
Planet Fitness Free Trial is an opportunity for you to get a better idea of their amities, services, their clean clubs, tons of equipment, friendly staff and more. Planet Fitness offers a one-day free trial. For that, there are certain conditions.
What is the ASR agreement with JPMorgan Chase?
On December 4, 2019, we entered into a $300 million accelerated share repurchase agreement (the "2019 ASR Agreement") with JPMorgan Chase Bank, N.A. ("JPMC"). We acquired shares under the 2019 ASR Agreement as part of our 2019 $500 million share repurchase authorization (the "2019 Share Repurchase Authorization"). On December 5, 2019, we paid JPMC $300 million in cash and received approximately 3.3 million shares of our Class A common stock. At final settlement, JPMC may be required to deliver additional shares to us, or, under certain circumstances, we may be required to deliver shares of our Class A common stock or may elect to make a cash payment to JPMC, based generally on the average of the daily volume-weighted average prices of our Class A common stock during the term of the 2019 ASR Agreement. The 2019 ASR Agreement contains provisions customary for agreements of this type, including provisions for adjustments to the transaction terms, the circumstances generally under which the 2019 ASR Agreement may be accelerated, extended or terminated early by JPMC and various acknowledgments, representations and warranties made by the parties to one another. Final settlement of the 2019 ASR Agreement is expected to be completed during the second quarter of 2020, although the settlement may be accelerated at JPMC’s option. Following this accelerated share repurchase there will is approximately $200 million remaining on the 2019 Share Repurchase Authorization.
What is adjusted net income?
Adjusted net income assumes that all net income is attributable to Planet Fitness, Inc., which assumes the full exchange of all outstanding Holdings Units for shares of Class A common stock of Planet Fitness, Inc. , adjusted for certain non-recurring items that we do not believe directly reflect our core operations. Adjusted net income per share, diluted, is calculated by dividing Adjusted net income by the total shares of Class A common stock outstanding plus any dilutive options and restricted stock units as calculated in accordance with GAAP and assuming the full exchange of all outstanding Holdings Units and corresponding Class B common stock as of the beginning of each period presented. Adjusted net income and Adjusted net income per share, diluted, are supplemental measures of operating performance that do not represent, and should not be considered, alternatives to net income and earnings per share, as calculated in accordance with GAAP. We believe Adjusted net income and Adjusted net income per share, diluted, supplement GAAP measures and enable us to more effectively evaluate our performance period-over-period. A reconciliation of Adjusted net income to net income, the most directly comparable GAAP measure, and the computation of Adjusted net income per share, diluted, are set forth below.
What are non-GAAP measures?
These non-GAAP financial measures are supplemental measures of the Company’s performance that are neither required by, nor presented in accordance with GAAP. These financial measures should not be considered in isolation or as substitutes for GAAP financial measures such as net income or any other performance measures derived in accordance with GAAP. In addition, in the future, the Company may incur expenses or charges such as those added back to calculate Adjusted EBITDA, Adjusted net income and Adjusted net income per share, diluted. The Company’s presentation of Adjusted EBITDA, Adjusted net income and Adjusted net income per share, diluted, should not be construed as an inference that the Company’s future results will be unaffected by similar amounts or other unusual or nonrecurring items. See the tables at the end of this press release for a reconciliation of EBITDA, Adjusted EBITDA, Total Segment EBITDA, Adjusted net income, and Adjusted net income per share, diluted, to their most directly comparable GAAP financial measure.
What is adjusted EBITDA?
Adjusted EBITDA, which is defined as net income before interest, taxes, depreciation and amortization, adjusted for the impact of certain non-cash and other items that we do not consider in the evaluation of ongoing operational performance (see "Non-GAAP Financial Measures"), increased 23.0% to $76.6 million from $62.3 million in the prior year period.
What are forward-looking statements?
Forward-looking statements include the Company’s statements with respect to expected future performance presented under the heading "2020 Outlook," those attributed to the Company’s Chief Executive Officer in this press release, the Company’s statements about its share repurchase program and other statements, estimates and projections that do not relate solely to historical facts. Forward-looking statements can be identified by words such as "believe," "expect," "goal," plan," "will," "prospects," "future," "strategy" and similar references to future periods, although not all forward-looking statements include these identifying words. Forward-looking statements are not assurances of future performance. Instead, they are based only on the Company’s current beliefs, expectations and assumptions regarding the future of the business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Company’s control. Actual results and financial condition may differ materially from those indicated in the forward-looking statements. Important factors that could cause our actual results to differ materially include risks and uncertainties associated with competition in the fitness industry, the Company’s and franchisees’ ability to attract and retain new members, the Company’s and franchisees’ ability to identify and secure suitable sites for new franchise stores, changes in consumer demand, changes in equipment costs, the Company’s ability to expand into new markets domestically and internationally, operating costs for the Company and franchisees generally, availability and cost of capital for franchisees, acquisition activity, developments and changes in laws and regulations, our substantial increased indebtedness as a result of our refinancing and securitization transactions and our ability to incur additional indebtedness or refinance that indebtedness in the future, our future financial performance and our ability to pay principal and interest on our indebtedness, our corporate structure and tax receivable agreements, failures, interruptions or security breaches of the Company’s information systems or technology, general economic conditions and the other factors described in the Company’s annual report on Form 10-K for the year ended December 31, 2018 and, once available, the Company’s annual report on Form 10-K for the year ended December 31, 2019, as well as the Company’s other filings with the Securities and Exchange Commission. In light of the significant risks and uncertainties inherent in forward-looking statements, investors should not place undue reliance on forward-looking statements, which reflect the Company’s views only as of the date of this press release. Except as required by law, neither the Company nor any of its affiliates or representatives undertake any obligation to provide additional information or to correct or update any information set forth in this release, whether as a result of new information, future developments or otherwise.
What is the corporate tax rate?
Represents corporate income taxes at an assumed effective tax rate of 26.8% for the three months and year ended December 31, 2019 and 26.3% for the three months and year ended December 31, 2018, applied to adjusted income before income taxes.
When will the ASR be completed?
Final settlement of the 2019 ASR Agreement is expected to be completed during the second quarter of 2020, although the settlement may be accelerated at JPMC’s option. Following this accelerated share repurchase there will is approximately $200 million remaining on the 2019 Share Repurchase Authorization.
How much does Planet Fitness cost?
With monthly membership fees starting from as low as $10, there is no doubt that Planet Fitness is among the cheapest gym options in the United States.
How much does it cost to join Planet Fitness?
The cost of joining Planet Fitness depends on what kind of membership you opt for.
How much is the PF Black Card?
Considering all those facilities and unlimited access, a PF Black Card is actually cheap.
Is Planet Fitness black card no commitment?
Mostly not. Often, Planet Fitness Black Card memberships come with a contract, usually of 12 months.
Is Planet Fitness really only $10 a month?
Yes, if you take a Classic Planet Fitness membership, you need to pay only $10 bucks a month. And that is roughly the same as one month’s Netflix subscription!
Why did Planet Fitness charge me $40?
Yeah, Planet Fitness will charge you $40 when you get your membership. This is the annual fee, which is applicable to almost every membership plan at PF.
Can I pay for one year at Planet Fitness?
Yes, you can pay for an entire year at Planet Fitness. For that, you need to pay $199 (excluding taxes and other fees) and then enjoy your Planet Fitness membership for 12 months straight without paying fees on a monthly basis.