Looking to build a business in the fitness industry? It’s a growing sector that IBISWorld reports is a $31 billion industry in the U.S. As you delve into this market, you might be considering a well-known franchise like Planet Fitness, renowned for its low-cost, high-value gym memberships. However, the financial commitment required to open a Planet Fitness franchise could be daunting. Understanding the costs involved and exploring more budget-friendly alternatives can help you make an informed decision that aligns with your financial capabilities and business goals. Here’s a look at the costs to open a Planet Fitness franchise while exploring some cost-effective alternatives in the fitness franchising market, including Skyhawks Sports Academy.
Understanding Planet Fitness Franchise Costs
Planet Fitness is popular for its “Judgement Free Zone,” designed to be welcoming, catering to occasional or first-time gym users. It’s a large brand; Entrepreneur reports they have more than 2,500 locations. According to the Planet Fitness franchise disclosure document (FDD), the initial investment for a Planet Fitness franchise ranges significantly. Here’s what you can expect:
- Initial franchise fee: $20,000
- Initial investment: $1,495,000-$5,141,000 (Excludes the cost of purchasing or leasing real estate)
This wide range regarding the Planet Fitness franchise costs is due to several factors, including potential gym size, location, and the cost of leasing or purchasing equipment. Additionally, Planet Fitness franchises have a monthly royalty fee of 7%, which is an ongoing cost that affects your profitability.
Concerns About Affordability
If these Planet Fitness franchise costs go beyond your current budget, you’re not alone in your concerns. Many entrepreneurs worry that the high initial investment and ongoing fees might strain their finances. Fortunately, the fitness franchise industry is diverse, offering several lower-cost alternatives that might be a better fit for your financial situation.
Making the Right Choice
Deciding on the right franchise involves more than just comparing initial costs. Consider the following factors to guide your decision:
- Brand alignment: Does the franchise’s brand philosophy resonate with your values?
- Market demand: Is there a demand in your area for the services offered by the franchise?
- Support and training: Does the franchisor provide comprehensive training and ongoing support?
- Financial health: What is the expected return on investment, and how long will it take to break even?
Low-Cost Fitness Franchise Opportunities
Here are some franchises that provide different approaches to fitness, and as Entrepreneur shows, vary in their startup costs; but all offer lower entry points than Planet Fitness. When considering these options, evaluate how each aligns with your target market, location, and personal business philosophy.
Fit4Mom
- Initial franchise fee: $7,495-$13,395
- Initial investment: $8,245-$28,685
Fit4Mom offers fitness programs for moms at all stages of motherhood. It’s a home-based franchise with low overhead costs, providing flexibility and a strong community focus.
Jazzercise
- Initial franchise fee: $1,250
- Initial investment: $2,130-$40,725
Jazzercise is one of the world’s leading dance fitness companies, using the latest workout trends. The low initial investment and the ability to rent space only when classes are scheduled can keep overhead low.
Snap Fitness
- Initial franchise fee: $39,500
- Initial investment: $528,757-$1,014,575
Snap Fitness offers 24/7 access to compact, state-of-the-art fitness facilities. It appeals to fitness enthusiasts looking for convenience and affordability.
Anytime Fitness
- Initial franchise fee: $25,000-$42,500
- Initial investment: $388,966-$970,097
Like Snap Fitness, Anytime Fitness provides around-the-clock access to its gyms and is a popular choice for entrepreneurs due to its established brand and extensive support network.
Skyhawks Sports Academy
- Initial franchise fee: $15,000-$42,500
- Initial investment: $30,300-$89,750
At Skyhawks Sports Academy, we offer camps and clinics to children ages 4-14 years old. We also offer our SuperTots program, which introduces little ones to sports, focusing on motor skills and social development. Together, our programs help nurture youth in both personal and athletic growth, instilling life lessons through sports.
Exploring Franchise Ownership with Skyhawks
Skyhawks has established itself as a leading youth sports franchise, providing a safe, fun, and skill-based sports experiences for children aged four to 14 years old. Over the past 45 years, we have served 3 million kids and now offer more than a dozen sports programs, including our newest addition, pickleball.
As a franchise owner with Skyhawks, you not only gain access to an affordable opportunity but also enjoy a flexible work-life balance. This enables you to operate a meaningful business in your community, where you can teach life lessons through sports and foster a lifelong passion for athletics and healthy living among young participants. Request franchise info if you’re ready to hear more, and we’ll get the conversation started.
