If you like going to the health club, a Planet Fitness franchise enterprise is an ideal match for you. In reality, you may select from a number of roles – franchise possession with administration, or franchise possession with an proprietor who’s actively concerned in health coaching companies.
Planet Fitness gives greater than only a health club membership. Planet health franchisees delight themselves in providing help to its members, to maintain them actively utilizing their Planet Fitness membership advantages.
Basic Facts About Planet Fitness Franchises
Yes, the Planet Fitness franchise contains the everyday train machines and free weights. But there’s extra:
- Fitness coaching companies, corresponding to working with a private coach. The private coach could also be a workers member who’s assigned to a bunch of members.
- Tanning cubicles and tools.
- Cardio tools corresponding to treadmills and stair steppers.
- Annual membership charges payable on a month-to-month foundation and may be paid as an web membership
- A Planet Fitness Franchisee will get intensive on-the-job and classroom coaching, in utilizing tools and with implementing security procedures. Some coaching takes place at firm headquarters.
- There are at the moment greater than 2,000 Plant Fitness franchises within the US, in 49 states and Washington DC. The firm began in New Hampshire.
- The Planet Fitness enterprise franchise started in 2003
- The franchise is strongest within the south, the place there are about 700 Planet Fitness franchises. The franchise is increasing into different areas of the nation.
- In the health business, Planet Fitness companies give attention to being a “judgement free zone” – by making a welcoming setting for individuals with numerous health targets in all phases of their health journey. In different phrases, members of all ages, sexes and health ranges are handled kindly and in a supportive method.
Planet Fitness Franchise Cost
It’s comparatively costly to get into this franchise, given the price of the tools and equipment. It’s costly to outfit and equip the franchise from an empty constructing to a working health middle.
The preliminary franchise payment is $20,000, however a franchise proprietor wanna-be must have working capital (liquid belongings and liquid capital) and minimal internet value of from $200,000 to $700,000. The whole funding ranges may be about $1 million, however the preliminary funding may be as excessive as $4 million. That relies upon drastically on the price of actual property within the space, and likewise whether or not the franchisee is doing a transform of an present constructing or constructing a brand new facility. Those prices are corresponding to related franchises.
The minimal and most payment varies relying on precise prices. Fr instance, Planet Fitness franchising could take into account new franchisee functions who wish to transform an present constructing.
They could even approve different suppliers for a number of the tools and equipment. Those agreements/preparations can be spelled out within the franchise settlement.
Planet Fitness Franchise Fees
After the preliminary franchise payment, the brand new franchisees may even pay different charges corresponding to administrative prices and ongoing charges together with a 7% royalty payment. Of course, if leasing actual property that may even be a month-to-month payment. You’ll additionally pay a nationwide promoting fund payment and a neighborhood promoting payment.
Are the charges and prices value it? Well, you’ll get coaching and ongoing help from firm headquarters, which may even make it easier to create a grand opening occasion. Through the model identify, you’ll profit from the prevailing nationwide publicity.
Your franchise location will likely be shielded from different permitting different Planet Fitness franchises to find in your space. You’ll have an unique territory as a part of the realm growth settlement. All these issues will likely be spelled out within the franchise disclosure doc.
Planet Fitness Franchise Profit
The franchise revenue is dependent upon a number of elements, corresponding to your business lease charges, if relevant. Franchise prices additionally differ by location (which might outline your labor prices),utility prices and the price of different provides, corresponding to cleansing supplies.
Planet Fitness Franchise Owners’ Salary
Your gross month-to-month take is predicated in your memberships, which vary from $10 to $25 monthly for the franchise. After you cowl your startup prices, your whole gross month-to-month take might drastically exceed your expectations, relying on what number of memberships you promote.
Similar health facilities franchises cite the identical problem – getting members could also be comparatively straightforward, however retaining them may be difficult. Your sale system wants to incorporate common contact with members to ensure they’re utilizing the power and being supported by your workers.
In the health/health club business, right here’s a staggering statistic – about half of the individuals who join memberships by no means go. And these are the individuals who don’t renew their memberships.
What are you able to make? The majority of Planet Fitness franchisees make $50,000 a yr or extra the primary yr, which is a high quantity within the franchise business. That’s after paying customer support reps ($12 hour common), an in a single day supervisor ($14 hourly) and a supervisor ($40,000 yearly).
Planet Fitness Franchisees Requirement
As we’ve acknowledged, you want a robust monetary standing to qualify as a franchisee with a franchise settlement. But you’ll want greater than that to run a Planet Fitness enterprise:
Net value of $3 million
Liquid capital of $1.5 million
People abilities, public relations expertise
Gym expertise – familiarity with health tools and equipment
Fitness Program abilities – in a position to help members in creating their targets
Is Opening a Planet Fitness Franchise Worth It?
Planet Fitness franchise alternatives aren’t plentiful, though the corporate is increasing into new areas with extra franchises.
With your franchise you’ll get well being, dental and life insurance coverage, in addition to a rtirement plan and the power to earn Planet Fitness inventory.
As we requested on the outset, do you like going to the health club? Love understanding? Love serving to and instructing others as they try to succeed in their health targets?
Then, it might be time to show your favourite passion into your job. If you like what you do, you’ll achieve success within the Planet Fitness enterprise.
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