Planet Fitness franchises are fitness training businesses that run gym facilities with exercise machines, personal trainer services, tanning services, and other services related to the fitness industry.
The brand Planet Fitness offers franchise opportunities under the legal name of the company ”Planet Fitness Franchising LLC.”, whose principal business address is 4 Liberty Lane West Floor 2, Hampton, NH 03842 USA.
Franchise Legal Name: Planet Fitness Franchising LLC
Franchise Trade Name (DBA): PLANET FITNESS®
Founded: 1992 in Dover, New Hampshire, USA
Founder: Michael Grondahl, Marc Grondahl and Chris Rondeau
Current Owner: Planet Fitness, Inc. (Publicly Traded Company)
- Stock Symbol: (PLNT)
CEO: Chris Rondeau
Operating Status: Active
Started Franchising: 2003
Industry: Fitness & Health
The Total Number of Stores Worldwide: 2,324
The Total Number of U.S Based Franchisee-Owned Units: 2,010
Investment Cost for Starting One Franchise Unit in the USA:
- Starting a new Planet Fitness franchise costs $1,625,600 to $3,677,000 if the franchisee leases the gym equipment package.
- $2,502,600 to $4,921,000 if the franchisee opts to buy a gym equipment package.
Average Gross Sales per One U.S.-Based Franchise Unit:
- $1,597,862 of Gross Sales has produced an average earning Planet Fitness gym franchise in 2021.
Expected Franchise Owner Profit Margin From Gross Revenue:
Franchise Business Address:
- 4 Liberty Lane West Floor 2, Hampton, NH 03842 USA.
Website: Franchise Opportunities | Planet Fitness
Planet Fitness Franchisee Initial and Ongoing Financial Requirements
Net Worth: $3,000,000
Liquid Assets/Cash Requirement: $1,500,000
Initial Fee Cost: 20,000
Ongoing Monthly/Weekly Franchisee Royalty Fees:
- Franchisor Royalty Fee: 7% of Gross Revenue
- National Advertising Fund Fee: 2% of Gross Revenue
- Local Advertising Fee: 7% of Gross Revenue
Planet Fitness Average Annual Gross Sales Level per One Franchise Unit
- In the fiscal year of 2021, an average-earning Planet fitness franchised location has made $1,597,862 in gross revenue.
- The bottom-third earning gyms, on average, have made $1,024,453 in gross revenue in 2021
- The middle-third-earning gyms, on average, have made $1,553,235 in gross revenue in 2021
- The upper-third gyms, on average, have made $2,215,899 in gross revenue in 2021.
Number of U.S. – Based Planet Fitness Gyms by Years
- At the beginning of 2023, there were 2,324 Planet Fitness gyms opened worldwide; 2,010 locations were U.S-based franchisee-owned locations.
- In 2022 there were 2,010 franchisee-owned and 233 franchisor-owned stores in the USA.
- In 2021 there were 2,006 franchisees-owned and 106 company-owned stores operating in the USA.
- In 2020 1,904 franchisees-owned and 99 company-owned stores were operating in the USA.
Christopher Rondeau has been the Chief Executive Officer of Planet Fitness since June 2018
Dorvin Lively has been in the office of President since January 2020
Tom Fitzgerald has served as Chief Financial Officer since January 2020.
Ray Miolla has been the Chief Development Officer since June 2018.
Sherrill Kaplan was appointed as Chief Digital Officer in June 2021.
Justin Vartanian has served as General Counsel since June 2018.
Scott Fogg became Vice President of Vendor and Supply Chain & Associate General Counsel in November 2017.
Jason Bauman became Associate General Counsel of Franchising in March 2020.
Suzanne Phelan has served as Director of Franchise Administration since March 2019.
Bill Bode has served as Chief Operations Officer since December 2020.
Reggie Beatty became Senior Director of Franchise Operations in June 2017.
Sarah Hofman has been the Director of Franchise Operations since December 2019.