Start-Up Costs and Fees |
||
| HOTWORX Studio | Planet Fitness | |
| Investment | 188070 - 351885 | 968100 - 4113000 |
| Franchise Fee | ||
| Royalty Fee | $550/mo. | 7% of Gross Membership Fees |
| Advertising Fee | 9% | |
| Year Founded | 2016 | 1992 |
| Year Franchised | 2017 | 2003 |
| Term Of Agreement | ||
| Term Of Agreement | ||
| Renewal Fee | ||
Business Experience Requirements |
||
| HOTWORX Studio | Planet Fitness | |
| Experience | ||
Financing Options |
||
| HOTWORX Studio | Planet Fitness | |
| Franchise Fees | No | |
| Start-up Costs | No | |
| Equipment | No | |
| Inventory | No | |
| Receivables | No | |
| Payroll | No | |
Training & Support |
||
| HOTWORX Studio | Planet Fitness | |
| Training | * Available at headquarters: 2 weeks * At franchisee's location: as needed | |
| Support | * Newsletter * Meetings * Toll-free phone line * Grand opening * Internet * Security/safety procedures * Field operations/evaluations * Purchasing cooperatives | |
| Marketing | * Co-op advertising * Ad slicks * Regional advertising | |
| Operations | * 40% of all franchisees own more than one unit * Absentee ownership of franchise is allowed. (70% of current franchisees are owner/operators) | |
Expansion Plans |
||
| HOTWORX Studio | Planet Fitness | |
| US Expansion | Nationwide, Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Guam, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming | Nationwide, Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Guam, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming |
| Canada Expansion | ||
| International Expansion |
Start-Up Costs and Fees Mobile |
|
| Investment | |
| HOTWORX Studio | |
| Planet Fitness | |
| Franchise Fee | |
| HOTWORX Studio | |
| Planet Fitness | |
| Royalty Fee | |
| HOTWORX Studio | $550/mo. |
| Planet Fitness | 7% of Gross Membership Fees |
| Advertising Fee | |
| HOTWORX Studio | |
| Planet Fitness | 9% |
| Year Founded | |
| HOTWORX Studio | 2016 |
| Planet Fitness | 1992 |
| Year Franchised | |
| HOTWORX Studio | 2017 |
| Planet Fitness | 2003 |
| Term Of Agreement | |
| HOTWORX Studio | |
| Planet Fitness | 10 years |
| Renewal Fee | |
| HOTWORX Studio | |
| Planet Fitness | |
Business Experience Requirements |
|
| Experience | |
| HOTWORX Studio | |
| Planet Fitness | |
Financing Options |
|
| Franchise Fees | |
| HOTWORX Studio | |
| Planet Fitness | |
| Start-up Costs | |
| HOTWORX Studio | |
| Planet Fitness | |
| Equipment | |
| HOTWORX Studio} | |
| Planet Fitness | |
| Inventory | |
| HOTWORX Studio | |
| Planet Fitness | |
| Receivables | |
| HOTWORX Studio | |
| Planet Fitness | |
| Payroll | |
| HOTWORX Studio | |
| Planet Fitness | |
Training & Support |
|
| Training | |
| HOTWORX Studio | |
| Planet Fitness | * Available at headquarters: 2 weeks * At franchisee's location: as needed |
| Support | |
| HOTWORX Studio | |
| Planet Fitness | * Newsletter * Meetings * Toll-free phone line * Grand opening * Internet * Security/safety procedures * Field operations/evaluations * Purchasing cooperatives |
| Marketing | |
| HOTWORX Studio | |
| Planet Fitness | * Co-op advertising * Ad slicks * Regional advertising |
| Operations | |
| HOTWORX Studio | |
| Planet Fitness | * 40% of all franchisees own more than one unit * Absentee ownership of franchise is allowed. (70% of current franchisees are owner/operators) |
Expansion Plans |
|
| US Expansion | |
| HOTWORX Studio | Nationwide, Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Guam, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming |
| Planet Fitness | Nationwide, Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Guam, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming |
| Canada Expansion | |
| HOTWORX Studio | |
| Planet Fitness | |
| International Expansion | |
| HOTWORX Studio | |
| Planet Fitness | |