Planet Fitness is an excellent gym for some people. It can also be a good place to work, but you should know if it’s a franchise.
Then, you may be able to buy a franchise to start running a gym without having to start one from scratch.
Table of Contents
- Does Planet Fitness Have Franchise Locations?
- Why Franchise With Planet Fitness
- How to Become a Planet Fitness Franchisee
- Does Planet Fitness Have Franchisees?
Does Planet Fitness Have Franchise Locations?
Planet Fitness is a franchise, and people can invest in a franchise to start a business. Franchisees will have to cover costs such as site selection, gym equipment, and business supplies. But corporate will provide support as you get started to help you succeed.
At the time of this writing, Planet Fitness isn’t accepting new US franchise applications. But you can follow the company to learn when they are willing to open new locations.
Why Franchise With Planet Fitness
Franchising with Planet Fitness is an excellent choice for entrepreneurs. It’s especially great if you already like going to the gym.
Consider the following advantages of purchasing a Planet Fitness franchise.
One benefit of buying almost any franchise is that you get access to a well-known brand. If you were to start your own gym, you’d have to build everything on your own. It can take time and money to build brand awareness, especially for a new business.
However, by opening a new Planet FItness, you may have a more successful grand opening. People will recognize the name, and they may flock to your location. That way, you don’t have to do a ton of marketing to start generating a customer base.
Receive Corporate Support
With any franchise, you can expect a bit of support from the corporate side of the business. The people at Planet Fitness can help you choose a location, for example. That can make a huge difference in the success of your franchise.
As you start and grow your franchise, you’ll be able to direct your questions to the corporate office. Someone should be able to help you with any problems you experience. You don’t get that kind of support if you start a completely new business.
Predict Your Earnings
Before you buy a Planet Fitness franchise, you may be able to make some financial predictions. You can look at clubs in similar areas as yours. While some club owners won’t make their numbers public, you may be able to ask for them.
If they don’t give you specifics, you can also look at available information online. For example, you might see if a club has consistent class enrollments. That can help provide a sense of security before you invest in a franchise.
Systems Are Ready
When you start your own business, you have to create and set up systems from scratch. You have to develop your standard operating procedures (SOPs), set prices, and decide what roles you need to hire employees to fill.
On the other hand, buying a Planet Fitness franchise means everything is ready to go. All you have to do is implement the systems in your new club. You can even receive training on the systems to learn how to work everything to help your location be successful.
Focus on Your Passion
If you have a passion for health and fitness, franchising Planet Fitness is a fantastic choice. You may not have the experience or skills to start a new company. Buying a franchise allows you to work in the fitness industry without having to develop your own thing.
You’ll be able to spread your love of fitness with others without having to do a ton of planning on the business side. That can help you launch your club sooner than you’d be able to if you started a local gym.
Control Your Schedule
Franchisees are their own bosses, so you’ll get more control over your schedule. Sure, you could work for an existing Planet Fitness, but you’d be an employee. You would have to stick to the same schedule, and you might not get the time off that you want.
If you can afford it, buying a franchise will give you the control you want. You can make your own hours and work as much as you want. Plus, as the owner, you’ll have a higher income potential than many employees.
How to Become a Planet Fitness Franchisee
If you want to start your own Planet Fitness location, you can do so. As of this writing, the gym isn’t accepting new franchisee applications.
However, that may change in the future, and it gives you time to prepare for your application. Then, you may have a better chance of getting a franchise when you are able to apply.
Here’s what you should know about becoming a Planet Fitness franchisee.
Save the Money
First, you’ll need to save or raise some money to pay for the initial costs. Planet Fitness franchises can cost anywhere from around $1 to $4.5 million. You’ll have to cover franchise fees, site selection, gym equipment, and other business costs.
Maybe you’re lucky and have enough money in savings. Or perhaps you have a family member or friend who’s willing to invest with you, so you start the franchise together. If you do this, make sure you trust each other to be serious about the new venture.
Another option is to get a loan for your new business. You can go through the Small Business Administration (SBA) or your local bank.
When applications are open, you should go to the Planet Fitness website and look for the Franchising page on the bottom menu. Since applications aren’t open, it’s unclear if you can apply right on the website.
If not, the web page should tell you what you’ll need to apply. Expect to show proof of funding, and consider drafting your own business plan. The more documents you have, the less you’ll have to create when you’re ready to apply.
Choose a Location
After Planet Fitness approves your application, you’ll want to look for a location. You can either look for an existing commercial location to buy or a place to build the gym. Location is crucial, especially when getting new members so make this choice carefully.
Once you choose a location, you’ll need to set up a lease or purchase it. Then, you’ll want to hire a construction crew to build the facility. If you’re buying an existing building, you may need to pay for someone to change the inside to that of a gym.
Schedule the Grand Opening
When you’re done selecting and building a location, you need to acquire all of your supplies and equipment. You should also look for some employees, especially front desk staff and personal trainers.
After you do all of that, you can schedule and prepare for your grand opening. Then, you can start to get paying customers into your facility. That will allow you to start making your money back and turning the investment into a profit.
Does Planet Fitness Have Franchisees?
Planet Fitness has many franchises that run clubs around the world. If you want to start your own franchise, you can do so with the gym. Be sure to watch the franchise page to learn when applications open so that you can start your new venture as soon as possible.