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Planet Fitness franchise financing options
Compare costs, fees and where to get financing for a Planet Fitness.
Estimated initial costs
Our cost estimates are accurate as of 2021 from Franchise Direct and include opening fees and expenses only. The location you choose for your Planet Fitness franchise may result in higher or lower fees.
Franchise feesPlanet Fitness franchise fees total around $20,000, which beats out the $37,000 average for the 200 largest franchises nationwide.
|Initial franchise fee||$20,000 to $20,000|
|Royalty||7% of the total gross monthly and annual membership fees payable to the franchisee via EFT dues draft.|
|Estimated total||$20,000 to $20,000|
Equipment feesEquipment fees total $817,500 for Planet Fitness. This costs more than the $180,023 average for the top 200 franchises.
|Fitness equipment||$27,000 to $878,000|
|Nonfitness equipment||$32,000 to $606,000|
|Exterior signs||$11,000 to $41,000|
|Computer system, point-of-sale system and other supplies||$12,000 to $28,000|
|Estimated total||$82,000 to $1,553,000|
Real estate feesReal estate will set you back $1,197,250 for Planet Fitness, which is more expensive than the average of $788,376 for the top 200 franchises.
|Site selection costs||$1,000 to $10,000|
|Construction development plan review fee||$4,000|
|Leasehold improvements||$650,000 to $1,600,000|
|Real estate lease deposits||$0 to $87,000|
|Other deposits||$0 to $46,500|
|Estimated total||$651,000 to $1,743,500|
Training feesPlanet Fitness initial training costs total $4,000, which comes in under the nationwide average of $9,788.
|Franchisee's out-of-pocket initial training expenses||$1,500 to $6,500|
|Estimated total||$1,500 to $6,500|
Marketing costsAdvertisement and marketing costs total up to $25,000 for Planet Fitness, which is more than the nationwide average of $9,938.
|Presale and grand opening marketing||$20,000 to $30,000|
|Estimated total||$20,000 to $30,000|
Licenses and permits costsPlanet Fitness initial licenses and permits will set you back $2,550. This comes out to less than $18,770 — the overall nationwide average.
|Licenses and permits||Cost|
|Licenses and bonds||$100 to $5,000|
|Estimated total||$100 to $5,000|
Other expensesMiscellaneous expenses for Planet Fitness total $454,500 — more than the nationwide average of $69,970.
|Professional fees||$2,000 to $25,000|
|Three months' additional funds||$181,000 to $701,000|
|Estimated total||$183,000 to $726,000|
How to financeSince the estimated total for Planet Fitness is on the more costly side, we recommend following these steps to get fully financed:
- Go to the Planet Fitness franchising website and review its financial requirements, including cash-on-hand requirements.
- Reach out to Planet Fitness about in-house financing for franchisees.
- If in-house financing isn't available, look for online loans, bank loans and SBA loans to help meet the $2,520,800 estimated opening costs.
- Compare lenders based on amounts, interest rates and what types of personal and business credit history they accept.
- Once you settle on a lender, gather all required documents, including account statements and assets.
- Apply for financing online or in person as required by the lender.
What types of financing is available?You have several options when it comes to financing a Planet Fitness — even if the cost is on the heavier side. What assets you have available will largely determine how much you need to borrow, and which option suits you best.
- Online loan. A number of online business lenders offer amounts up to $1 million, with some extending up to $5 million.
- Bank loan. Your personal credit will typically need to at least be good — 670 or higher — when it comes to getting a bank loan large enough to cover a significant portion of Planet Fitness opening costs.
- SBA loan. While your personal credit score doesn't need to be as good to qualify for an SBA loan, they usually cost more than standard term loans from banks or online lenders.
Compare small business lendersYou may not need financing to cover the estimated $957,600. But if you need funds for other business ventures, select the loan amount, your time in business and revenue and your personal credit score to compare a selection of lenders.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
How Planet Fitness stacks upCompare how Planet Fitness holds up against two similarly sized franchises.
|Groupe Auchan Franchise Information||Planet Fitness||International House of Pancakes (IHOP)|
|Average Franchise fees||NA||$20,000||NA|
|Average Equipment fees||NA||$817,500||NA|
|Average Real estate fees||NA||$1,197,250||NA|
|Average Training fees||NA||$4,000||NA|
|Average Inventory fees||NA||NA||NA|
|Average Marketing fees||NA||$25,000||NA|
|Average Licenses and permits fees||NA||$2,550||NA|
|Average Insurance fees||NA||NA||NA|
|Average Admin fees||NA||NA||NA|
|Average Personnel fees||NA||NA||NA|
|Average Other fees||NA||$454,500||NA|
Bottom linePlanet Fitness franchise costs run a total of $2,520,800. Before you decide to become a franchisee, compare the total costs against industry averages. And to learn more about financing read our guide to franchise financing.
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