Start-Up Costs and Fees |
||
| Planet Fitness | Shred415 | |
| Investment | 968100 - 4113000 | 440280 - 959200 |
| Franchise Fee | 0 | |
| Royalty Fee | 7% of Gross Membership Fees | 8% |
| Advertising Fee | 9% | |
| Year Founded | 1992 | 1986 |
| Year Franchised | 2003 | 2004 |
| Term Of Agreement | ||
| Term Of Agreement | ||
| Renewal Fee | ||
Business Experience Requirements |
||
| Planet Fitness | Shred415 | |
| Experience | ||
Financing Options |
||
| Planet Fitness | Shred415 | |
| Franchise Fees | No | No |
| Start-up Costs | No | No |
| Equipment | No | No |
| Inventory | No | No |
| Receivables | No | No |
| Payroll | No | No |
Training & Support |
||
| Planet Fitness | Shred415 | |
| Training | * Available at headquarters: 2 weeks * At franchisee's location: as needed | On-The-Job Training: 48 hours Classroom Training: 32 hours |
| Support | * Newsletter * Meetings * Toll-free phone line * Grand opening * Internet * Security/safety procedures * Field operations/evaluations * Purchasing cooperatives | Meetings/Conventions Grand Opening Online Support Field Operations Site Selection Proprietary Software Franchisee Intranet Platform |
| Marketing | * Co-op advertising * Ad slicks * Regional advertising | Co-op Advertising Ad Templates National Media Regional Advertising Social media SEO Website development Email marketing Loyalty program/app |
| Operations | * 40% of all franchisees own more than one unit * Absentee ownership of franchise is allowed. (70% of current franchisees are owner/operators) | Absentee Ownership Allowed |
Expansion Plans |
||
| Planet Fitness | Shred415 | |
| 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 | |
| Shred415 | |
| Franchise Fee | |
| Planet Fitness | |
| Shred415 | |
| Royalty Fee | |
| Planet Fitness | 7% of Gross Membership Fees |
| Shred415 | 8% |
| Advertising Fee | |
| Planet Fitness | 9% |
| Shred415 | |
| Year Founded | |
| Planet Fitness | 1992 |
| Shred415 | 1986 |
| Year Franchised | |
| Planet Fitness | 2003 |
| Shred415 | 2004 |
| Term Of Agreement | |
| Planet Fitness | 10 years |
| Shred415 | 10 years |
| Renewal Fee | |
| Planet Fitness | |
| Shred415 | |
Business Experience Requirements |
|
| Experience | |
| Planet Fitness | |
| Shred415 | |
Financing Options |
|
| Franchise Fees | |
| Planet Fitness | No |
| Shred415 | No |
| Start-up Costs | |
| Planet Fitness | |
| Shred415 | |
| Equipment | |
| Planet Fitness} | |
| Shred415 | |
| Inventory | |
| Planet Fitness | |
| Shred415 | |
| Receivables | |
| Planet Fitness | |
| Shred415 | |
| Payroll | |
| Planet Fitness | |
| Shred415 | |
Training & Support |
|
| Training | |
| Planet Fitness | * Available at headquarters: 2 weeks * At franchisee's location: as needed |
| Shred415 | On-The-Job Training: 48 hours Classroom Training: 32 hours |
| Support | |
| Planet Fitness | * Newsletter * Meetings * Toll-free phone line * Grand opening * Internet * Security/safety procedures * Field operations/evaluations * Purchasing cooperatives |
| Shred415 | Meetings/Conventions Grand Opening Online Support Field Operations Site Selection Proprietary Software Franchisee Intranet Platform |
| Marketing | |
| Planet Fitness | * Co-op advertising * Ad slicks * Regional advertising |
| Shred415 | Co-op Advertising Ad Templates National Media Regional Advertising Social media SEO Website development Email marketing Loyalty program/app |
| 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) |
| Shred415 | Absentee Ownership Allowed |
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 |
| Shred415 | 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 | |
| Shred415 | |
| International Expansion | |
| Planet Fitness | |
| Shred415 | |