If you want to franchise a business that offers the community a place to get healthy and stay fit, I’ve got the perfect company for you to sink your muscle into. Planet Fitness. We all know how complicated the process of franchising can be. But you also know how rewarding and exciting it can be at the same time. But when you have that passion and desire in your heart to make something happen, then no matter what, you will make it happen. And if your passion is keeping the community fit at a place that gives a judgment-free zone for people to feel secure and safe, well, here it is. Your franchising opportunity could be right around the corner. Literally. These franchising outlets are either available and operating, or a new one can be built and created. Which is perfect for you because you get the chance to decide. No matter where you want your new business to be located, you can be sure that everyone will know your name; or at least the name of your business. Which that is what the important part is anyway, right? Let’s get ready to rumble into this franchise opportunity and learn the details on what it takes to get started.
Working it out with Planet Fitness
For those looking for a gym that truly has it all, along with low fees, then Planet Fitness is your answer. This fitness gym not only has a variety of exercise machines, free weights, and training services but they also provide tanning service and ancillary goods. It’s seriously the one stop shop for your summer body needs. I personally love Planet Fitness and their vision. Not only because they offer these services at affordable prices, but they pride themselves in providing customers with a safe and secure workout area. There are known for their judgment-free zones. I think this can be especially helpful for those that feel too embarrassed to work out in public. Here at Planet Fitness, you can feel motivated and welcome no matter what skill level you’re at. They hold themselves at the top of the bar when it comes to pricing, too. They have extremely competitive prices that are truly affordable for everyone to be able to take advantage of all year long. You would be incredibly smart to take advantage of this franchise opportunity with the exceptional amount of growth and popularity that Planet Fitness has been experiencing over the years. So sure the company itself is a great establishment and provides excellent service, but is it truly one of the better franchising opportunities? Let’s find out.
The Down and Dirty Details on Franchising
Sure you have to love and admire the company, plus show extreme passion for the business you’re going to franchise. But there are many other factors to consider than just you loving the company. You need to look at the growth, transparency, cost, and benefits of this franchise before you get deeper into the opportunity. When it comes to Planet Fitness, their franchising requirements aren’t much different than others. Except for the price that is. While the initial franchise fee is only $20,000, the total investment will run you between $855,000 and $4.3 million. Yeah, that’s quite a big chunk of change there. And if you don’t have it up front, don’t even try asking for financing because they, unfortunately, don’t offer any. They also offer no refunds under any conditions or any discounts when purchasing multiple establishments. There will also be ongoing fees that you’re responsible for during your 10-year agreement. The royalty fee is currently set at 7% and the advertising fee is a little lower at 2%. So if there were any downfall to franchising this business, I’d say the fact that they offer no refunds or financing would be it. The company also does not offer you territory rights for your franchise. So that may be another negative to this opportunity, depending on how you look at it.
This must not be too bad of an opportunity, though. Because the growth had been on a steady incline over the past 6 years. In 2010 there were 332 outlets operating. By the end of 2016, that number increased to 1,255. So as you can see, there is an increase in popularity and interest in owning this franchise. That’s a growth of 923 outlets in only 6 years! So they must be doing something right. Possibly it’s because of the number of benefits and transparency that they are willing to share with the operating franchises. Planet Fitness chooses to offer a high level of financial transparency with their franchises. Meaning that if you purchase this business you will get details on the following: quarterly average revenue, system-wide average revenue, detailed expense data, revenue information related to the industry, and sales numbers from locations that are owned by the company. This is a very high level of transparency. One of which not many other companies are willing to share. So if you choose this business, then consider yourself lucky!
That’s a Wrap
There is a number of reasons as to why one would want to get started with franchising. One is the rewarding experience of owning and running your own business. Another would be the sense of pride and freedom that you can feel when you don’t have to work for someone else. The difference is that with franchising, you technically are working for someone else’s dream business. A business that they created and built. But it’s also a business that they are willing to share with strong-willed individuals, such as yourself. If you have found yourself debating on the Planet Fitness franchising opportunity, you can feel safe knowing that this opportunity is honestly a great one. While the total investment can get a little pricey and there is no financing available if you truly wanted to make this happen, there are definitely easy to make it come true. Follow your heart and your passion and let nothing stand in your way of making it happen. You found this article for a reason. Now get out there and make moves, boss!