The simple answer to Planet Fitness being profitable is yes they are, their revenue continues to go up every year. As of 2018, the revenue range is 513,00 to 5,554,000 dollars; this was the annual gross calculated by the Electronic Transfer of Funds (ETF).2020-11-10
How does a Planet Fitness owner make money?
Planet Fitness has a revenue model that makes money in six (6) ways – franchise royalty fees, membership fees, selling equipment to franchisees, National Advertising Fund (NAF) revenue, placement services, and vendor commissions.2021-08-24
How much does franchise owner make?
Franchise Business Review reports that the average franchise owner makes around $80,000 per year. However, this number is merely an average, with many people making below and above that figure.2021-04-12
How Much Is a Planet Fitness franchise worth?
Planet Fitness's franchise fee is $10,000 for a 10-year renewable agreement, though the total investment ranges from $700,000 to $3.8 Million. Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. To open a gym, a franchisee must have of $3 million with $1,500,000 in liquid assets.
How much revenue does a Planet Fitness franchise make?
The simple answer to Planet Fitness being profitable is yes they are, their revenue continues to go up every year. As of 2018, the revenue range is 513,00 to 5,554,000 dollars; this was the annual gross calculated by the Electronic Transfer of Funds (ETF).2020-11-10
How much money can you make owning a fitness franchise?
This all being said, how much you buy into a gym franchise to earn good profit can range anywhere from $30,000 to $300,000, depending on location, size, and amenities. This amount does include the initial franchise fee or the amount you will pay in order to use the company's name.2020-03-06
How do franchise gyms make money?
A gym franchise gets most of its revenue from membership fees, but it can also provide plenty of other ways to earn extra income. Personal training, classes, selling gym apparel, consumables and health and weight-loss products are just some of these ways.2020-08-23