Start-Up Costs and Fees |
||
| Planet Fitness | HOTWORX Studio | |
| Investment | 968100 - 4113000 | 188070 - 351885 |
| Franchise Fee | ||
| Royalty Fee | 7% of Gross Membership Fees | $550/mo. |
| Advertising Fee | 9% | |
| Year Founded | 1992 | 2016 |
| Year Franchised | 2003 | 2017 |
| Term Of Agreement | ||
| Term Of Agreement | ||
| Renewal Fee | ||
Business Experience Requirements |
||
| Planet Fitness | HOTWORX Studio | |
| Experience | ||
Financing Options |
||
| Planet Fitness | HOTWORX Studio | |
| Franchise Fees | No | |
| Start-up Costs | No | |
| Equipment | No | |
| Inventory | No | |
| Receivables | No | |
| Payroll | No | |
Training & Support |
||
| Planet Fitness | HOTWORX Studio | |
| 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 |
||
| Planet Fitness | HOTWORX Studio | |
| 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 | |
| Planet Fitness | |
| HOTWORX Studio | |
| Franchise Fee | |
| Planet Fitness | |
| HOTWORX Studio | |
| Royalty Fee | |
| Planet Fitness | 7% of Gross Membership Fees |
| HOTWORX Studio | $550/mo. |
| Advertising Fee | |
| Planet Fitness | 9% |
| HOTWORX Studio | |
| Year Founded | |
| Planet Fitness | 1992 |
| HOTWORX Studio | 2016 |
| Year Franchised | |
| Planet Fitness | 2003 |
| HOTWORX Studio | 2017 |
| Term Of Agreement | |
| Planet Fitness | 10 years |
| HOTWORX Studio | |
| Renewal Fee | |
| Planet Fitness | |
| HOTWORX Studio | |
Business Experience Requirements |
|
| Experience | |
| Planet Fitness | |
| HOTWORX Studio | |
Financing Options |
|
| Franchise Fees | |
| Planet Fitness | No |
| HOTWORX Studio | No |
| Start-up Costs | |
| Planet Fitness | |
| HOTWORX Studio | |
| Equipment | |
| Planet Fitness} | |
| HOTWORX Studio | |
| Inventory | |
| Planet Fitness | |
| HOTWORX Studio | |
| Receivables | |
| Planet Fitness | |
| HOTWORX Studio | |
| Payroll | |
| Planet Fitness | |
| HOTWORX Studio | |
Training & Support |
|
| Training | |
| Planet Fitness | * Available at headquarters: 2 weeks * At franchisee's location: as needed |
| HOTWORX Studio | |
| Support | |
| Planet Fitness | * Newsletter * Meetings * Toll-free phone line * Grand opening * Internet * Security/safety procedures * Field operations/evaluations * Purchasing cooperatives |
| HOTWORX Studio | |
| Marketing | |
| Planet Fitness | * Co-op advertising * Ad slicks * Regional advertising |
| HOTWORX Studio | |
| Operations | |
| Planet Fitness | * 40% of all franchisees own more than one unit * Absentee ownership of franchise is allowed. (70% of current franchisees are owner/operators) |
| HOTWORX Studio | |
Expansion Plans |
|
| US Expansion | |
| 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 |
| 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 |
| Canada Expansion | |
| Planet Fitness | |
| HOTWORX Studio | |
| International Expansion | |
| Planet Fitness | |
| HOTWORX Studio | |