Start-Up Costs and Fees |
||
| 21 Minute Convenience Fitness | Planet Fitness | |
| Investment | 124500 - 195300 | 968100 - 4113000 |
| Franchise Fee | 0 | |
| Royalty Fee | 3% | 7% of Gross Membership Fees |
| Advertising Fee | 9% | |
| Year Founded | 2003 | 1992 |
| Year Franchised | 2005 | 2003 |
| Term Of Agreement | ||
| Term Of Agreement | ||
| Renewal Fee | ||
Business Experience Requirements |
||
| 21 Minute Convenience Fitness | Planet Fitness | |
| Experience | ||
Financing Options |
||
| 21 Minute Convenience Fitness | Planet Fitness | |
| Franchise Fees | No | No |
| Start-up Costs | No | No |
| Equipment | No | No |
| Inventory | No | No |
| Receivables | No | No |
| Payroll | No | No |
Training & Support |
||
| 21 Minute Convenience Fitness | Planet Fitness | |
| Training | Internet | * 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 | * Newsletter * Meetings * Toll-free phone line * Grand opening * Internet * Security/safety procedures * Field operations/evaluations * Purchasing cooperatives |
| Marketing | Co-op advertising, Ad slicks | * Co-op advertising * Ad slicks * Regional advertising |
| Operations | 1% of all franchisees own more than one unit Number of employees needed to run franchised unit: 2 - 2 Absentee ownership of franchise is allowed. | * 40% of all franchisees own more than one unit * Absentee ownership of franchise is allowed. (70% of current franchisees are owner/operators) |
Expansion Plans |
||
| 21 Minute Convenience Fitness | Planet Fitness | |
| 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 | |
| Canada Expansion | ||
| International Expansion |
Start-Up Costs and Fees Mobile |
|
| Investment | |
| 21 Minute Convenience Fitness | |
| Planet Fitness | |
| Franchise Fee | |
| 21 Minute Convenience Fitness | |
| Planet Fitness | |
| Royalty Fee | |
| 21 Minute Convenience Fitness | 3% |
| Planet Fitness | 7% of Gross Membership Fees |
| Advertising Fee | |
| 21 Minute Convenience Fitness | |
| Planet Fitness | 9% |
| Year Founded | |
| 21 Minute Convenience Fitness | 2003 |
| Planet Fitness | 1992 |
| Year Franchised | |
| 21 Minute Convenience Fitness | 2005 |
| Planet Fitness | 2003 |
| Term Of Agreement | |
| 21 Minute Convenience Fitness | 10 years |
| Planet Fitness | 10 years |
| Renewal Fee | |
| 21 Minute Convenience Fitness | 25% of fran. fee |
| Planet Fitness | |
Business Experience Requirements |
|
| Experience | |
| 21 Minute Convenience Fitness | |
| Planet Fitness | |
Financing Options |
|
| Franchise Fees | |
| 21 Minute Convenience Fitness | No |
| Planet Fitness | No |
| Start-up Costs | |
| 21 Minute Convenience Fitness | |
| Planet Fitness | |
| Equipment | |
| 21 Minute Convenience Fitness} | |
| Planet Fitness | |
| Inventory | |
| 21 Minute Convenience Fitness | |
| Planet Fitness | |
| Receivables | |
| 21 Minute Convenience Fitness | |
| Planet Fitness | |
| Payroll | |
| 21 Minute Convenience Fitness | |
| Planet Fitness | |
Training & Support |
|
| Training | |
| 21 Minute Convenience Fitness | Internet |
| Planet Fitness | * Available at headquarters: 2 weeks * At franchisee's location: as needed |
| Support | |
| 21 Minute Convenience Fitness | Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations |
| Planet Fitness | * Newsletter * Meetings * Toll-free phone line * Grand opening * Internet * Security/safety procedures * Field operations/evaluations * Purchasing cooperatives |
| Marketing | |
| 21 Minute Convenience Fitness | Co-op advertising, Ad slicks |
| Planet Fitness | * Co-op advertising * Ad slicks * Regional advertising |
| Operations | |
| 21 Minute Convenience Fitness | 1% of all franchisees own more than one unit Number of employees needed to run franchised unit: 2 - 2 Absentee ownership of franchise is allowed. |
| Planet Fitness | * 40% of all franchisees own more than one unit * Absentee ownership of franchise is allowed. (70% of current franchisees are owner/operators) |
Expansion Plans |
|
| US Expansion | |
| 21 Minute Convenience Fitness | |
| 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 |
| Canada Expansion | |
| 21 Minute Convenience Fitness | |
| Planet Fitness | |
| International Expansion | |
| 21 Minute Convenience Fitness | |
| Planet Fitness | |