Are you interested in Planet Fitness Franchise to start in your location? In this article, you get details about Franchise sale, cost, fee, opportunity, etc.
Planet Fitness is a chain of wellness focuses focused on new or infrequent exercisers. Marking itself a “judgment-free zone”, the rules to discourage hardcore bodybuilders from frequenting its foundations to make casual exercisers feel progressively good and less intimidated by genuine exercisers.
Planet Fitness organizations are wellness training provide for exercise machines and free weights, wellness training services, related services, and subordinate merchandise. The franchisor offers available to be sale Planet Fitness Franchise for new areas and for existing wellness facilities that need to change over to a Planet Fitness.
The Planet Fitness Franchisee must provide these services on a 24-hour daily premise except if denied by law or approved by the franchisor recorded as a hard copy.
#1. Is Planet Fitness A Franchise Profitable?
Is planet fitness a franchise profitable? Planet Fitness Franchise is one of the biggest wellness US chains by various individuals and areas. They give a moderate, great wellness involvement with an inviting environment. Planet Fitness Franchise opportunities are demonstrated by 1,500 clubs effectively working around the world.
With the possibility to build our U.S. nearness to roughly 4,000 stores while simultaneously improving the part experience through in-store activities and brand associations, we accept the organization is all around situated to deliver proceeded with long term development and return more prominent profitable to investors in the years to come.
#2. Planet Fitness Franchise Cost
To start the Planet Fitness Franchise cost around $700,000 to $3.8 Million. The franchise also pays 5% royalty fee on all sale.
1. Planet Fitness Franchise cost:
|Estimated Investment Cost|
|Name of Fee||Low||High|
|Initial Franchise Fee||$20,000||$20,000|
|Site Selection Costs||$1,000||$10,000|
|Construction Development Plan Review Fee||$0||$4,000|
|Pre-sale Marketing/Grand Opening Marketing||$20,000||$30,000|
|Computer System, Point of Sale System, and Other Supplies||$12,000||$25,000|
|Real Estate Lease Deposits||$0||$87,000|
|Franchisee’s Out-of-Pocket Initial Training Expenses||$1,500||$6,500|
|Additional Funds – six months||$264,000||$701,000|
|Estimated Total Planet Fitness Franchise cost||$1,084,600||$4,178,500|
|Type of Fee||Amount|
|Royalty||7% of the total gross monthly and annual membership fees payable to the franchisee via EFT Dues Draft|
|Interest||18% (annualized) or the highest contract ROI permitted by law, whichever is lower.|
|Internet Membership and Balance Payment Administration Fee||Set according to the franchisor’s Methods of Operation, presently $5 per membership application or balance payment the franchisor processes for the franchise location.|
|Administrative Fees||Will vary under the circumstances.|
|Refresher Training Workshops||$500 to $1,500. Will vary under the circumstances.|
|Per Diem Fee||$100 to $1,000. Will vary under the circumstances.|
|Re-Equip Costs||$312,000 to $857,000|
|Remodel Costs||$70,000 to $600,000|
|Fees to Evaluate and Approve Alternative Suppliers||The franchisor’s reasonable costs and expenses, which currently are expected to range between $1,500 and $5,000, although costs could greatly exceed those amounts depending on the product.|
|Vendor Payments||Will vary under the circumstances.|
|Insurance||Will vary under the circumstances.|
|National Advertising Fund Fee||the total gross monthly EFT Dues Draft of 2 %|
|Local Advertising Fee||Greater of $15,000 per month or 7% of the total gross monthly EFT Dues Draft.|
|Advertising Cooperative Fees||Will vary under the circumstances.|
|Special Marketing Programs||Varies, total gross monthly EFT Dues Draft of 9 %|
|Auditing Costs||The franchisor’s actual costs, which may range from $3,000 to $15,000.|
|Franchise Agreement Transfer Fee||$10,000, plus the franchisor’s reasonable out-of-pocket expenses, including external legal and administrative costs it incurs in connection with the transfer.|
|Securities Offering Fee||$100,000, plus the franchisor’s reasonable out-of-pocket expenses, including external legal and administrative costs it incurs in connection with the offering.|
|Area Development Agreement Transfer Fee||$5,000, per location remaining to be developed, plus the franchisor’s reasonable external legal and administrative costs it incurs in connection with the transfer.|
|Construction Development Plan Review Fee||$4,000|
|Successor Franchise Fee||Equal to 50% of our then-current initial franchise fee, subject to a maximum fee of $40,000.|
|Indemnification||Will vary under the circumstances.|
|Administrative Third-Party Costs||Will vary under circumstances.|
|Costs and Attorney’s Fees||Actual costs. Will vary under circumstances.|
|Inspection & Compliance Reimbursement||Actual costs.|
|Cure Period Extension Fee (Franchise Agreement)||2% of the total gross EFT Dues Draft.|
|Grace Period Fee (Area Development Agreement)||$2,500|
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#3. Planet Fitness Franchise For Sale
Are looking for Planet Fitness Franchise for sale, first, you should have to apply online method. Then your application will review by franchise representative.
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