Planet Fitness franchise
The franchisee owns and operates a single Planet Fitness fitness training facility — typically a leased 15,000 to 25,000 square foot club offering exercise machines, free weights, fitness training services, amenities and ancillary merchandise, sold mainly through recurring monthly and annual memberships collected by electronic funds transfer.
Owner-operator required Disclosed
- Source
- 2026 Franchise Disclosure Document — Planet Fitness Franchising LLC
- Document
- FDD 2026, issued 2026-05-22
- Item
- Item 15
- Page
- PDF p. 67
- Obtained
- Wisconsin Department of Financial Institutions — Franchise Registration Search, file 641806
you (or your Responsible Owner) must personally manage and operate the franchise as your primary occupation
Unless the franchisor approves an 'Approved Operator', the franchisee or its designated Responsible Owner must personally manage and operate the club as their primary occupation, devote full-time best efforts to it, and may not engage in another business requiring substantial management time without consent. Delegation is not guaranteed. Day-to-day management may be carried out by the franchisee, one of its owners, an Approved Operator, or a manager who has completed the initial training program; a manager need not hold equity. An entity franchisee must designate a Responsible Owner who holds an ownership interest, can bind the entity and has completed training, and the franchisee or its management must log into the franchise portal at least weekly.
What stands out
- Total initial investment of $1,282,500 to $5,386,000 excluding real estate purchase; financing the equipment gives $1,282,500 to $3,769,000 and buying it outright gives $2,385,000 to $5,386,000.
- Standard initial franchise fee is $40,000, currently waived for franchise agreements issued under an Area Development Agreement; area development costs $10,000 per location committed, or $30,000 where a prior development agreement for a similar territory was terminated early.
- Royalty is 7% of membership fees billed by EFT, whether or not collected; national advertising is 2% rising to a 3% cap, local advertising is the greater of $60,000 a year or 7% of monthly EFT, and combined advertising is capped at 9%.
7 more observations
- Item 19 reports 2025 Annual EFT Revenue for 2,291 franchised clubs in three bands — averages of $1,260,539, $1,873,231 and $2,705,811 — with no single system-wide average and a full range of $429,581 to $5,271,381.
- Annual EFT Revenue excludes paid-in-full memberships, retail and other revenue, so it understates total club revenue; all cost, EBITDAR and EBITDA data covers 262 affiliate-run corporate clubs only.
- Franchised outlets grew from 2,082 to 2,432 over 2023 to 2025 with 364 openings against 14 exits; 86 franchise agreements were signed but unopened at year-end 2025 and 53 franchised openings are projected for the next year.
- No exclusive or protected territory under the Franchise Agreement; area developers get limited protection only while they stay on their development schedule.
- Mandatory equipment replacement of $333,000 to $995,000 every 5 to 9 years, payable to franchisor affiliate PF Equipment, and remodels of $250,000 to $1,200,000 no more often than every 12 years.
- The 12-year term, personal guaranty from every 10%-or-greater owner, two-year 15-mile post-term non-compete, and New Hampshire arbitration venue are the main contractual constraints.
- PF Equipment reported approximately $333,000,000 of gross revenue from franchise locations in 2025 plus a $22,000,000 volume rebate, so a large part of the investment is a related-party purchase.
Things to verify
- Ask for the 2025 Revenue and Operations Statement table for the 262 corporate clubs, including the EBITDAR and EBITDA lines, since those figures could not be read from the source PDF's text layer and are the only cost data in the FDD.
- Ask what a franchised club's total revenue looks like relative to Annual EFT Revenue, given that paid-in-full memberships, retail and other income are excluded from the disclosed figures.
- Confirm whether the Initial Franchise Fee waiver for Area Development Agreement locations will still apply when each franchise agreement is signed, since the franchisor may end the policy at any time.
6 more questions
- Model the equipment replacement cycle explicitly: $333,000 to $995,000 every 5 to 9 years is a recurring capital call payable to an affiliate, and the club's usage classification determines the frequency.
- Ask how close the nearest existing or planned Planet Fitness clubs are, since no territory is granted and the franchisor may franchise other fitness brands nearby.
- Ask which clubs sit in the bottom third: with 764 franchised clubs averaging $1.26 million and a low of $429,581, understand what distinguishes the weakest locations.
- Verify current financing terms and the 80% borrowing cap with a lender before committing, since interest and debt service are excluded from the Item 7 estimates.
- Check the 2024 transfer volume of 270 outlets with former and current franchisees in the affected states to understand whether those were strategic portfolio sales or exits.
- Confirm the local advertising formula's first-quarter front-loading — the greater of $24,000 or 10% of cumulative monthly EFT — against a first-year cash flow model.
Economics: No calculator is offered because no annual average unit sales disclosed in Item 19. Model availability
Evidence confidence: High. This describes source support, not investment quality. AI-extracted and machine-verified where stated; no human line-by-line review. Source and review record.
Read the full research overview
A Planet Fitness franchisee operates a single fitness club, typically a leased space of 15,000 to 25,000 square feet fitted with cardio and strength equipment and sold through recurring memberships collected by electronic funds transfer. This is a capital-heavy franchise. Item 7 puts the total initial investment at $1,282,500 to $5,386,000 excluding any purchase of real estate, and the spread is driven mainly by whether the equipment is financed or bought outright: financing the equipment gives a range of $1,282,500 to $3,769,000, buying it gives $2,385,000 to $5,386,000. Leasehold improvements alone run $1,000,000 to $2,167,000 and the equipment, which must be purchased from franchisor affiliate PF Equipment, runs $333,000 to $995,000 for fitness equipment and $892,000 to $1,315,000 for non-fitness equipment if bought outright. The standard initial franchise fee is $40,000, currently waived for franchise agreements signed under an Area Development Agreement. Ongoing, the franchisee pays a 7% royalty on membership EFT, up to 3% to the national advertising fund, local advertising of at least $60,000 a year or 7% of monthly EFT, and a join fee of 20% of the first monthly membership fee on every new member. Both the low and high columns of the Item 7 table foot exactly.
Item 19 does exist and is unusually large, but it is banded rather than averaged. Across 2,291 franchised U.S. clubs open for all of 2025 — about 94% of the franchised system — average Annual EFT Revenue was $1,260,539 in the bottom third, $1,873,231 in the middle third and $2,705,811 in the upper third, with individual clubs ranging from $429,581 to $5,271,381. No single system-wide average is published, so none is recorded here. Crucially, Annual EFT Revenue is not total club revenue: it is the same membership-EFT base the royalty is charged on and it excludes paid-in-full memberships, retail and other income. Cost and profit data, including EBITDAR and EBITDA, is disclosed only for 262 corporate clubs run by an affiliate, with no franchisee expense figures at all. Those corporate-club cost tables did not extract from the source PDF's text layer and are not reproduced in this record.
The system is growing steadily and closing very little. Franchised outlets went from 2,082 at the start of 2023 to 2,432 at the end of 2025, with 364 openings and only 14 exits across three years — 7 terminations, 1 non-renewal, 4 reacquisitions and 2 other closures. Company-owned clubs grew from 232 to 277. Transfers were heavy in 2024 at 270 outlets, concentrated in a handful of states, which points to portfolio sales between multi-unit owners rather than distressed single-club exits. As of December 31, 2025 there were 86 signed franchise agreements for outlets not yet open and 53 new franchised openings projected for the next year.
The main things to weigh are structural rather than legal. There is no protected territory under the Franchise Agreement, and the franchisor expressly reserves the right to open or franchise competing Planet Fitness clubs and other fitness brands nearby. Required re-equipment every 5 to 9 years at $333,000 to $995,000 and remodels every 12 years at $250,000 to $1,200,000 are recurring capital commitments, and both timelines can be pulled forward by a system-wide vote, as can amendments to the franchise agreement itself with 70% approval of U.S. franchised clubs. Owners of 10% or more must personally guarantee the agreement, the term is 12 years, the post-term non-compete runs two years within 15 miles, and disputes go to mediation and arbitration in Portsmouth, New Hampshire under New Hampshire law. Item 3 discloses five matters — one pending case in which the franchisor is not a party, three concluded actions and one 2015 New York Attorney General assurance about advertising and tanning compliance — with no litigation against franchisees in the past year. Item 4 discloses one personal bankruptcy of an officer of a predecessor entity, discharged in 2018. No minimum liquidity or net worth requirement is disclosed in the reviewed source.
View ratings and their supporting evidence
Transparent ratings
How these are computedEach dimension is scored 1–5 from published formulas. Missing data yields “Not enough evidence to rate”, never a low score. There is no composite score by design.
How the system has performed, computed from the disclosed Items 7, 19 and 20. Figures a documented material source inconsistency puts in doubt are excluded, and the dimension shows “Not rated”.
Inputs
- Franchised outlets 2082 → 2432 (Item 20, Table 3)
- Thresholds: ≥15% → 5; 5–15% → 4; 0–5% → 3; −5–0% → 2; below −5% → 1
Inputs
- Attrition = (terminations + non-renewals + reacquisitions + ceased-other) ÷ start-of-year franchised units, averaged over 3 fiscal years
- Thresholds: <2% → 5; 2–4% → 4; 4–6% → 3; 6–10% → 2; >10% → 1
Inputs
- No annual average unit sales disclosed
How much this brand’s FDD discloses, and how well-supported our data on it is. This measures transparency, not business performance — a strong business that discloses little scores low here and stays unrated above.
Inputs
- Item 19 present (+1)
- Average plus median or a distribution (+1)
- Population 94% of franchised units, clearly described (+1)
- Cost or profit data disclosed (+1)
- Multi-year or cohort data (+1)
Details
- Missing: Annual AUV
- Franchisor Track Record
- Franchising 23 years (since 2003) · 2,709 outlets · Item 3: 5 matter(s) disclosed · Item 4: bankruptcy disclosure present
- Multi-Unit Scalability
- Area development is offered. Under an Area Development Agreement the developer commits to open one or more clubs in a defined Development Area on a schedule … · Owner-operator required
- Operational Intensity
- Owner-operator required
Initial investment
FDD Items 5 and 7Format shown: Single Planet Fitness club (new location or conversion of an existing fitness facility), leased premises of approximately 15,000–25,000 square feet
$1,282,500–$5,386,000 total initial investment. Excludes real estate purchase. Includes 3 months of additional funds.
View full investment breakdown — Items 5 & 7
| Initial franchise fee (the named Item 5 fee only) | $40,000 Disclosed
No named discounts on the $40,000 fee itself; it is currently waived for Franchise Agreements issued under an Area Development Agreement, a policy the franchisor may end at any time. |
|---|---|
| Other required initial payments to the franchisor (Item 5) |
|
| Total Item 5 payments to franchisor/affiliates | $333,000 Disclosed
Cover page (equipment-purchase scenario): total investment 'includes $333,000 to $1,050,000 that must be paid to the franchisor or its affiliate'; the low end assumes the current fee waiver under an Area Development Agreement and no optional design/site fees, so it does not cleanly sum from the standalone $40,000 fee. $1,050,000 Disclosed
Cover page (equipment-purchase scenario): total investment 'includes $333,000 to $1,050,000 that must be paid to the franchisor or its affiliate'; the low end assumes the current fee waiver under an Area Development Agreement and no optional design/site fees, so it does not cleanly sum from the standalone $40,000 fee. |
| Total initial investment — low | $1,282,500 Disclosed
Low end of the Item 7 Total row. It assumes the franchisee finances the fitness and non-fitness equipment and pays only down payments. |
| Total initial investment — high | $5,386,000 Disclosed
High end of the Item 7 Total row. It assumes the franchisee purchases rather than finances the fitness and non-fitness equipment. |
| Midpoint of range | $3,334,250 Derived
|
| Real estate purchase included? | No — assumes a leased site |
| Additional funds assumed | 3 months |
| Required liquid capital | Not disclosed in the reviewed source Not disclosedNot disclosed in the reviewed source. We did not find this value in 2026 Franchise Disclosure Document — Planet Fitness Franchising LLC; we do not fill gaps with estimates or third-party figures. No minimum liquid capital requirement is stated on the cover pages or in Items 1, 5, 7 or 15 of the reviewed document. |
| Required net worth | Not disclosed in the reviewed source Not disclosedNot disclosed in the reviewed source. We did not find this value in 2026 Franchise Disclosure Document — Planet Fitness Franchising LLC; we do not fill gaps with estimates or third-party figures. No minimum net worth requirement is stated in the reviewed document. Item 17 mentions the franchisor's own capital and liquidity requirements in the context of transfer conditions but does not quantify a figure for franchisees. |
The Item 7 total excludes the cost of purchasing or leasing real estate beyond the initial lease deposit and typical leasehold improvements; the franchisor does not require real estate purchase and says clubs are typically in strip centers, malls and freestanding sites of roughly 15,000–25,000 square feet. Estimates exclude finance charges, interest and debt service. The wide total range mostly reflects whether equipment is financed or bought outright: financing gives $1,282,500–$3,769,000 and outright purchase gives $2,385,000–$5,386,000. The franchisor does not permit franchisees to borrow more than 80% of the initial investment. Estimated investment for a conversion facility is described as substantially the same as for a new facility. Additional Funds cover three months.
Item 7 line items (18)
| Expenditure | Low | High |
|---|---|---|
| Initial Franchise Fee — Standard fee is $40,000; shown as $0 at the low end because of the current waiver for Franchise Agreements under an Area Development Agreement. | $0 | $40,000 |
| Site Selection Costs — Reimbursement of the franchisor's travel, lodging and food for site evaluation visits made at the franchisee's request. | $0 | $10,000 |
| Construction Development Plan Review Fee — Charged only if the franchisee does not use the franchisor's designated architects. | $0 | $5,000 |
| Design Resubmission Fee — Charged if resubmitted plans again fail to comply with specifications. | $0 | $5,000 |
| Leasehold Improvements — Largest single line item; may be reduced by a landlord tenant-improvement allowance. | $1,000,000 | $2,167,000 |
| Fitness Equipment — Low end is a down payment if financed (10%–30% of the amount financed, $33,300–$298,500); high end is the outright purchase price ($333,000–$995,000). Must be bought from affiliate PF Equipment. | $33,300 | $995,000 |
| Non-Fitness Equipment — Down payments range $89,200–$394,500 if financed; outright purchase ranges $892,000–$1,315,000. Includes televisions, tanning beds, lockers, flooring, interior signage. | $89,200 | $1,315,000 |
| Pre-Sale/Grand Opening Marketing — Set by the franchisor at $20,000–$30,000 per 30-day period; capped at $120,000 absent material opening delay. Additional pre-sale spend sits inside Additional Funds. | $40,000 | $120,000 |
| Exterior Signs | $12,000 | $40,000 |
| Computer System, Point of Sale System, and other Supplies — POS hardware and software must come from the franchisor's designated POS supplier. | $1,000 | $7,000 |
| Insurance — First-year premium for one location. | $25,000 | $45,000 |
| Real Estate Lease Deposits | $0 | $95,000 |
| Other Deposits — Utilities, banks/credit card processors, leased equipment vendors, alarm and telephone. Estimated from corporate club experience; the franchisor states it does not collect this from franchisees. | $0 | $23,000 |
| Professional Fees | $2,000 | $25,000 |
| Out-of-Pocket Initial Training Expenses — Travel, lodging and meals; the training itself carries no fee for the franchisee and up to two additional individuals. | $2,000 | $10,000 |
| Licenses/Bonds | $10,000 | $25,000 |
| Additional Funds — three months — Covers payroll, debt service, continuing pre-sale/grand opening marketing and miscellaneous expenses for the first three months of operation; calculated from corporate club experience. | $68,000 | $459,000 |
| Total — Both the low and high columns foot exactly to the sum of the line items. | $1,282,500 | $5,386,000 |
Source for every row: the Item 7 estimated-initial-investment table of 2026 Franchise Disclosure Document — Planet Fitness Franchising LLC (table begins PDF p. 31) — rows inherit the table's citation rather than carrying fifteen identical ones.
Other formats disclosed in Item 7 (2)
| Format | Low | High | Fee |
|---|---|---|---|
| All equipment financed (down payments only) | $1,282,500 | $3,769,000 | $40,000 |
| All equipment purchased outright | $2,385,000 | $5,386,000 | $40,000 |
Ongoing fees
FDD Item 6Royalty
7% (see basis) Disclosed
- Source
- 2026 Franchise Disclosure Document — Planet Fitness Franchising LLC
- Document
- FDD 2026, issued 2026-05-22
- Item
- Item 6
- Page
- PDF p. 19
- Obtained
- Wisconsin Department of Financial Institutions — Franchise Registration Search, file 641806
7% of the total gross monthly and annual membership fees payable to you via EFT Dues Draft
7% of total gross monthly and annual membership fees payable to the franchisee by electronic funds transfer (the 'EFT Dues Draft'), payable whether or not actually collected. The base is membership EFT rather than all gross sales: it excludes paid-in-full memberships, retail and other revenue, although the franchisor may charge an equivalent amount on memberships not included in the EFT Dues Draft and may, on 60 days' notice, switch the base to Total Net Membership Revenues. Clubs opened ahead of an Area Development Agreement schedule may qualify for a Royalty Incentive Period of up to 180 days after opening.
Brand advertising fund
2%–3% (see basis) Disclosed
- Source
- 2026 Franchise Disclosure Document — Planet Fitness Franchising LLC
- Document
- FDD 2026, issued 2026-05-22
- Item
- Item 6
- Page
- PDF p. 21
- Obtained
- Wisconsin Department of Financial Institutions — Franchise Registration Search, file 641806
National Advertising Fund: 2% of monthly membership fees and certain annual membership fees, not to exceed 3% of the EFT Dues Draft. During 2026 only, 2% of the EFT Dues Draft plus 1% of total gross monthly membership fees payable by EFT. The franchisor may raise the rate on notice up to the 3% cap, and combined NAF plus local advertising requirements are capped at 9% of the EFT Dues Draft. Historically NAF has been collected only on monthly membership fees and on $49 annual membership fees.
Local marketing
7% (see basis) Disclosed
- Source
- 2026 Franchise Disclosure Document — Planet Fitness Franchising LLC
- Document
- FDD 2026, issued 2026-05-22
- Item
- Item 6
- Page
- PDF p. 21
- Obtained
- Wisconsin Department of Financial Institutions — Franchise Registration Search, file 641806
Local Advertising Funds: the greater of $60,000 per year or 7% of cumulative Monthly EFT, subject to adjustment if the NAF rate changes. During 2026 only, the greater of $50,000 or 6% of cumulative Monthly EFT. Within the year the requirement is front-loaded: the greater of $24,000 or 10% of cumulative Monthly EFT in the first quarter, and the greater of $4,000 or 3% of Monthly EFT in each month of the remaining quarters. Paid to the franchisor only if it elects to collect and administer the funds or if the franchisee underspends, in which case an administration charge of roughly 8% of the funds administered may apply. Multi-club owners in the same market may satisfy the requirement in aggregate.
Core requirements shown separately; caps, credits and conditions may overlap. Check the full schedule for technology, cooperative, transfer and other charges.
View all recurring fees and conditions
| Royalty | 7% (see basis) Disclosed
7% of total gross monthly and annual membership fees payable to the franchisee by electronic funds transfer (the 'EFT Dues Draft'), payable whether or not actually collected. The base is membership EFT rather than all gross sales: it excludes paid-in-full memberships, retail and other revenue, although the franchisor may charge an equivalent amount on memberships not included in the EFT Dues Draft and may, on 60 days' notice, switch the base to Total Net Membership Revenues. Clubs opened ahead of an Area Development Agreement schedule may qualify for a Royalty Incentive Period of up to 180 days after opening. 7% of total gross monthly and annual membership fees payable to the franchisee by electronic funds transfer (the 'EFT Dues Draft'), payable whether or not actually collected. The base is membership EFT rather than all gross sales: it excludes paid-in-full memberships, retail and other revenue, although the franchisor may charge an equivalent amount on memberships not included in the EFT Dues Draft and may, on 60 days' notice, switch the base to Total Net Membership Revenues. Clubs opened ahead of an Area Development Agreement schedule may qualify for a Royalty Incentive Period of up to 180 days after opening. |
|---|---|
| Advertising / brand fund | 2%–3% (see basis) Disclosed
National Advertising Fund: 2% of monthly membership fees and certain annual membership fees, not to exceed 3% of the EFT Dues Draft. During 2026 only, 2% of the EFT Dues Draft plus 1% of total gross monthly membership fees payable by EFT. The franchisor may raise the rate on notice up to the 3% cap, and combined NAF plus local advertising requirements are capped at 9% of the EFT Dues Draft. Historically NAF has been collected only on monthly membership fees and on $49 annual membership fees. National Advertising Fund: 2% of monthly membership fees and certain annual membership fees, not to exceed 3% of the EFT Dues Draft. During 2026 only, 2% of the EFT Dues Draft plus 1% of total gross monthly membership fees payable by EFT. The franchisor may raise the rate on notice up to the 3% cap, and combined NAF plus local advertising requirements are capped at 9% of the EFT Dues Draft. Historically NAF has been collected only on monthly membership fees and on $49 annual membership fees. |
| Required local marketing | 7% (see basis) Disclosed
Local Advertising Funds: the greater of $60,000 per year or 7% of cumulative Monthly EFT, subject to adjustment if the NAF rate changes. During 2026 only, the greater of $50,000 or 6% of cumulative Monthly EFT. Within the year the requirement is front-loaded: the greater of $24,000 or 10% of cumulative Monthly EFT in the first quarter, and the greater of $4,000 or 3% of Monthly EFT in each month of the remaining quarters. Paid to the franchisor only if it elects to collect and administer the funds or if the franchisee underspends, in which case an administration charge of roughly 8% of the funds administered may apply. Multi-club owners in the same market may satisfy the requirement in aggregate. Local Advertising Funds: the greater of $60,000 per year or 7% of cumulative Monthly EFT, subject to adjustment if the NAF rate changes. During 2026 only, the greater of $50,000 or 6% of cumulative Monthly EFT. Within the year the requirement is front-loaded: the greater of $24,000 or 10% of cumulative Monthly EFT in the first quarter, and the greater of $4,000 or 3% of Monthly EFT in each month of the remaining quarters. Paid to the franchisor only if it elects to collect and administer the funds or if the franchisee underspends, in which case an administration charge of roughly 8% of the funds administered may apply. Multi-club owners in the same market may satisfy the requirement in aggregate. |
| Technology / software | $100/year Disclosed
Software licensing reimbursement of currently $100 per year for third-party customer relationship management software supplied through the franchisor. Separately, the franchisee must buy club management, member management and point-of-sale software, services and hardware from the franchisor's designated POS supplier and pay that supplier directly; the POS fee schedule is set out in the POS Agreements and is not quantified in Item 6. POS vendor on-site training runs about $800 per day per person. Item 7 budgets $1,000–$7,000 for the computer and POS system at opening. Software licensing reimbursement of currently $100 per year for third-party customer relationship management software supplied through the franchisor. Separately, the franchisee must buy club management, member management and point-of-sale software, services and hardware from the franchisor's designated POS supplier and pay that supplier directly; the POS fee schedule is set out in the POS Agreements and is not quantified in Item 6. POS vendor on-site training runs about $800 per day per person. Item 7 budgets $1,000–$7,000 for the computer and POS system at opening. |
| Advertising cooperative | Not disclosed in the reviewed source Not disclosedNot disclosed in the reviewed source. We did not find this value in 2026 Franchise Disclosure Document — Planet Fitness Franchising LLC; we do not fill gaps with estimates or third-party figures. Item 11 states the franchisor may establish local or regional advertising cooperatives and that a franchisee in a market with an established cooperative must join, abide by its bylaws and contribute amounts the cooperative determines periodically. No contribution rate or dollar amount is disclosed. Cooperative contributions are credited toward the local advertising requirement. Item 6 lists an Advertising Cooperative Fee only as the amount a franchisee fails to pay its cooperative, which the franchisor may collect by EFT. |
| Transfer fee | $10,000 one-time Disclosed
$10,000 per club transferred plus the franchisor's reasonable out-of-pocket expenses, including external legal and administrative costs, capped at a further $10,000 per club. No transfer fee is charged where the transferee is an existing owner, a family member taking a non-controlling interest, an estate-planning entity controlled by an existing owner, or a third party taking 5% or less, though outside legal and administrative costs are still reimbursed. Transferring Area Development Agreement rights costs $5,000 per location to be developed plus expenses capped at $5,000. $10,000 per club transferred plus the franchisor's reasonable out-of-pocket expenses, including external legal and administrative costs, capped at a further $10,000 per club. No transfer fee is charged where the transferee is an existing owner, a family member taking a non-controlling interest, an estate-planning entity controlled by an existing owner, or a third party taking 5% or less, though outside legal and administrative costs are still reimbursed. Transferring Area Development Agreement rights costs $5,000 per location to be developed plus expenses capped at $5,000. |
| Renewal fee | $20,000 one-time Disclosed
Successor Franchise Fee of $20,000, payable when the franchisor grants a successor franchise. A separate Late Non-Renewal Fee of $25,000 applies if the franchisee does not give timely notice that it will not seek a successor franchise. Successor Franchise Fee of $20,000, payable when the franchisor grants a successor franchise. A separate Late Non-Renewal Fee of $25,000 applies if the franchisee does not give timely notice that it will not seek a successor franchise. |
| Royalty + ad fund (% of sales) | Not disclosed as percent of sales Not disclosedNot disclosed in the reviewed source. We did not find this value in 2026 Franchise Disclosure Document — Planet Fitness Franchising LLC; we do not fill gaps with estimates or third-party figures. |
Fee schedule (37 fees; 19 verified against the source, 18 single-pass)
Every recurring, conditional and one-time fee found in this FDD's Item 6 table (plus mandatory recurring costs disclosed in Items 7/11), each cited to its page and carrying its verification status: verified means two independent readings agreed or a tie-break re-inspection of the page decided it; single-pass means one reading captured it and it has not been independently confirmed (permitted only for fees that cannot move modeled economics — see the materiality rule). Amounts marked “not stated” are charged at then-current rates the FDD does not quantify and are never modeled as $0.
| Fee | Amount | Frequency | Mandatory | Verification | Cite | Notes |
|---|---|---|---|---|---|---|
| Royalty | 7% of membership dues | monthly | Yes | verified (2-pass) | Item 6, p. 19 | Basis is the EFT Dues Draft (membership dues billed via EFT), not all gross sales; excludes paid-in-full memberships and retail revenue. Payable whether or not actually collected. Certain businesses may qualify for a Royalty Incentive Period (see multi_unit). |
| Interest | 10% of other | varies | No | verified (tie-break) | Item 6, p. 19 | Accrues only on payments not made when due. Due Date column reads 'As incurred', so frequency is varies rather than Pass B's monthly. |
| Join Fee | 20% of membership dues | monthly | Yes | verified (tie-break) | Item 6, p. 19 | Charged once for each new membership sold, regardless of how the membership application is made or processed; remitted to the franchisor monthly. Both passes read the rates identically; only amount_type and model treatment differed. Pass A's percent_of_revenue would wrongly apply 20% to all membership revenue, so requires_assumption is used. Pass B's tiers array is dropped because the 20%/5% split is a change of base, not a threshold tier. |
| Administrative Fees | Not stated | varies | No | verified (tie-break) | Item 6, p. 19 | Applies only to revenue from franchisor-administered commercial partnerships; the amount varies with the partnership arrangements and may be changed on notice to the franchisee. Pass A's id retained. mandatory is false because the fee arises only where the franchisee has revenue from partnerships the franchisor administers, not in every franchisee's ordinary operation. |
| Refresher Training Workshops | $500–$1,500 | varies | Yes | verified (tie-break) | Item 6, p. 20 | Payable for refresher courses for previously trained managers that the franchisor may require, or operational training for new managers that the franchisee requests. Item 11 says the franchisor expects to require no more than 2 people attending no more than 2 refresher sessions of up to 5 days per calendar year, but may require more training or franchise meetings when it reasonably considers them necessary. Travel, accommodation and meal costs are the franchisee's and are not quantified. Due Date column reads 'As we and you agree', so frequency is varies rather than Pass B's annual; the annual expectation comes from Item 11 and is recorded in conditions. Treated as mandatory because attendance is required when the franchisor requires the course. |
| Per Diem Fee | $100–$1,000 | varies | No | verified (tie-break) | Item 6, p. 20 | Payable only for additional or special operational training for the franchisee's managers that the franchisee requests; the franchisee also pays travel, food and lodging expenses for the franchisor's personnel. Distinct Item 6 row from Refresher Training Workshops: this one is triggered by franchisee-requested training, so it is not a duplicate. |
| Re-Equip Costs | $333,000–$995,000 | varies | Yes | verified (tie-break) | Item 6, p. 20 | Note 4: for most clubs cardio equipment is replaced not more often than every 6 years and other fitness equipment every 8 years; for low-use clubs (lowest 15%) every 7 and 9 years; for high-use clubs (highest 15%) every 5 and 7 years, with the franchisor determining the usage category. About 6 months' notice is given. Note 6 lets the franchisor accelerate replacement on a 66% vote of all U.S. company-owned and franchised clubs or a 51% vote of U.S. franchised clubs. Relief exists in the last 2 years of the term in defined circumstances. Notes 4 and 6 (pages 20-21) supply the replacement cycles quoted in conditions; Pass B's tier objects are folded into conditions because they carry no distinct amounts. |
| Remodel Costs | $250,000–$1,200,000 | varies | Yes | verified (tie-break) | Item 6, p. 20 | Note 5: substantial remodeling will not be required more often than every 12 years during the term (signage excepted), but an upgrade or remodel may also be required at any time to comply with law or safety and security standards, as a condition of a successor franchise, on a change of the Marks, or in connection with a transfer. If the franchisee fails to maintain standards the franchisor may do the work and pass through its costs. About 6 months' notice is given. Note 5 confirms the 12-year maximum interval and the estimate of $250,000 to $1,200,000 every 12 years. |
| Fees to Evaluate and Approve Alternative Suppliers | Not stated | per event | No | verified (tie-break) | Item 6, p. 21 | Only if the franchisee asks the franchisor to evaluate and approve an alternative supplier (see Item 8). Only a cap is disclosed, so value stays null with the ceiling in range_high and maximum. |
| Third-party payments | Not stated | monthly | No | verified (tie-break) | Item 6, p. 21 | Applies where the franchisor collects undisputed amounts the franchisee owes certain third parties and remits them as arranged. Kept because it is a printed Item 6 row, but it is a collection and remittance mechanism rather than a charge for the franchisor's own account. |
| Insurance | Not stated | varies | No | single-pass | Item 6, p. 21 | Only if the franchisee fails to obtain the insurance coverage the Franchise Agreement requires. [Listed by one verification pass only (A); not independently confirmed.] |
| Pre-Sale/Grand Opening Marketing Expense | Not stated | one time | Yes | single-pass | Item 6, p. 21 | $20,000-$30,000 per 30-day period during the pre-opening/grand-opening marketing period, capped at $120,000 absent a material opening delay (see Item 7/11). [Listed by one verification pass only (A); not independently confirmed.] |
| National Advertising Fund (NAF) Fee | 2%–3% of membership dues | monthly | Yes | verified (2-pass) | Item 6, p. 21 | During 2026 only: 2% of the EFT Dues Draft plus 1% of Monthly EFT. Franchisor may raise the rate up to the 3% cap on notice, or higher with a supermajority franchisee vote. Combined NAF+LAF capped at 9% of the EFT Dues Draft. |
| Local Advertising Funds ("LAF") | 7% of membership dues (min $60,000/annual) | annual | Yes | verified (tie-break) | Item 6, p. 21 | Spent by the franchisee under the franchisor's Methods of Operations, not paid to the franchisor unless it elects to collect and administer the funds or the franchisee underspends (then an administrative charge of about 8% of funds administered, or the shortfall is contributed to the NAF). Note 7 pacing: at least the greater of $24,000 or 10% of cumulative Monthly EFT in Q1, and the greater of $4,000 or 3% of Monthly EFT in each month of Q2-Q4. Combined LAF and NAF will not exceed 9% of the EFT Dues Draft. Multi-unit owners in one market area may satisfy the requirement in the aggregate. Pass A and Pass B read the same row; the disagreement was whether the headline is the 7% rate or the $60,000 floor. The rate governs (see field decision). Advertising Cooperative Fees and Special Marketing Program fees (Note 8) are credited toward this requirement, so those schedule entries must carry overlaps_with: local-advertising-funds and must not also be modelled as percent_of_revenue. The NAF Fee is separate and additive, subject to the combined 9% cap. |
| Advertising Cooperative Fees | Not stated | varies | No | verified (2-pass) | Item 6, p. 22 | Only where an established advertising cooperative exists in the franchisee's market; rate is set by the cooperative's bylaws, capped by the franchisor at no more than the LAF requirement. Contributions credit toward the LAF requirement. |
| Special Marketing Programs | Not stated | per event | Yes | verified (2-pass) | Item 6, p. 22 | May be assessed in a single month or spread across months for a specific campaign. |
| Auditing and Inspection Costs | Not stated | per event | No | single-pass | Item 6, p. 22 | Only if the franchisee fails to timely report, an audit finds material noncompliance, or a follow-up audit is required. [Listed by one verification pass only (A); not independently confirmed.] |
| Franchise Agreement Transfer Fee | $10,000 | one time | No | single-pass | Item 6, p. 22 | Waived for certain related-party/small-interest transfers. [Listed by one verification pass only (A); not independently confirmed.] |
| Securities Offering Fee | Not stated | one time | No | single-pass | Item 6, p. 23 | Only if the franchisee proposes a securities offering. [Listed by one verification pass only (A); not independently confirmed.] |
| Area Development Agreement Transfer Fee | $5,000 | one time | No | single-pass | Item 6, p. 23 | Only on transfer of Area Development Agreement rights. [Listed by one verification pass only (A); not independently confirmed.] |
| Site Evaluation Fees | Not stated | per event | No | single-pass | Item 6, p. 23 | Only for site evaluations the franchisee requests during construction. [Listed by one verification pass only (A); not independently confirmed.] |
| Successor Franchise Fee | $20,000 | one time | No | single-pass | Item 6, p. 23 | Only if/when the franchisee renews for a successor term. [Listed by one verification pass only (A); not independently confirmed.] |
| Indemnification | Not stated | varies | No | single-pass | Item 6, p. 23 | Reimbursement if the franchisor is held liable for claims arising from the franchisee's operations, breaches, disputes, unauthorized mark use, etc. [Listed by one verification pass only (A); not independently confirmed.] |
| Administrative third-party costs | Not stated | varies | No | single-pass | Item 6, p. 24 | Only for out-of-state registration filings or agreement changes/additional documents the franchisor requires. [Listed by one verification pass only (A); not independently confirmed.] |
| Costs and Attorney's Fees | Not stated | varies | No | single-pass | Item 6, p. 24 | Payable if the franchisor prevails in a legal dispute, or the franchisee fails to participate in mediation. [Listed by one verification pass only (A); not independently confirmed.] |
| Cure Period Extension Fee (Franchise Agreement) | Not stated | monthly | No | single-pass | Item 6, p. 24 | Only if the franchisee fails to cure a default and the franchisor agrees to extend the cure period; in addition to other remedies. [Listed by one verification pass only (A); not independently confirmed.] |
| Debrand Deficiency Fee | $35,000–$70,000 | one time | No | single-pass | Item 6, p. 24 | Only if the franchisee fails to meet debranding requirements and the franchisor cannot repurchase or debrand the equipment. [Listed by one verification pass only (A); not independently confirmed.] |
| Management Fees | Not stated | varies | No | verified (tie-break) | Item 6, p. 25 | Only if the franchisor must manage the franchisee's business under defined circumstances; due as incurred. Due Date column reads 'As incurred', so frequency is varies rather than Pass B's monthly; the 10% cap is monthly. |
| Emergency Purchases | Not stated | varies | No | single-pass | Item 6, p. 25 | Only under limited, infrequent emergency circumstances. [Listed by one verification pass only (A); not independently confirmed.] |
| Software licensing | $100 | annual | Yes | verified (2-pass) | Item 6, p. 25 | Reimbursement for a portion of the franchisor's cost of third-party CRM software/applications access. |
| Late Development Fee | $5,000 | per event | No | single-pass | Item 6, p. 25 | Only if the franchisee fails to open by the required date. Capped at the then-current Initial Franchise Fee under a Franchise Agreement; uncapped under an Area Development Agreement. [Listed by one verification pass only (A); not independently confirmed.] |
| Early Termination Fee | Not stated | one time | No | single-pass | Item 6, p. 25 | Only on early termination of the Franchise Agreement due to franchisee default or unpermitted closure. [Listed by one verification pass only (A); not independently confirmed.] |
| Late Non-Renewal Fee | $25,000 | one time | No | single-pass | Item 6, p. 26 | Only if the franchisee fails to give timely notice of non-renewal. [Listed by one verification pass only (A); not independently confirmed.] |
| Temporary Closure Fee | Not stated | monthly | No | single-pass | Item 6, p. 26 | Only if the franchisor requires temporary closure due to the franchisee's uncured default. [Listed by one verification pass only (A); not independently confirmed.] |
| POS System monthly software support fee | $199 | monthly | Yes | verified (2-pass) | Item 11, p. 52 | Disclosed in Item 11 (Computer Hardware and Software), not in the Item 6 fee table; included per the fee-census instruction to capture mandatory software subscriptions disclosed elsewhere. |
| POS-related security/PCI compliance services | $50–$100 | monthly | Yes | verified (2-pass) | Item 11, p. 52 | Disclosed in Item 11 (Computer Hardware and Software), not in the Item 6 fee table; included per the fee-census instruction to capture mandatory software subscriptions disclosed elsewhere. |
| POS transaction processing costs | $11,000–$56,000 | annual | Yes | verified (2-pass) | Item 11, p. 52 | Based on number of transactions processed per month and payment method. Disclosed in Item 11 (Computer Hardware and Software), not in the Item 6 fee table; included per the fee-census instruction to capture mandatory software subscriptions disclosed elsewhere. |
Other fees disclosed in Item 6 that are contingent rather than recurring include a Securities Offering Fee of up to $100,000 plus expenses, a Debrand Deficiency Fee of currently $35,000 for strength or amenity equipment plus $35,000 for cardio equipment, a Late Development Fee of $5,000 per 30-day period for missing an opening deadline (capped at the then-current initial franchise fee under a Franchise Agreement but uncapped under an Area Development Agreement), an Early Termination Fee equal to the average monthly royalty over the prior 24 months multiplied by the lesser of 36 or the whole months left in the term, a Temporary Closure Fee on the same basis, supplier evaluation costs capped at $25,000, site evaluation reimbursements capped at $25,000, and administrative third-party costs capped at $5,000. Existing franchisees and area developers may pay lower fees under their existing agreements.
Financial performance (Item 19)
What the franchisor actually disclosedWho is represented: The main table covers 2,291 franchised Planet Fitness clubs in the United States including Puerto Rico — every franchised club open and operating for the entire 12 months ended December 31, 2025. Of the 2,432 franchised clubs open at December 31, 2025, 133 were excluded because they opened after January 1, 2025 and 8 were excluded because they had been sold to a franchisee in August 2025 and so were franchised for less than six months; a further 7 franchised clubs that closed during 2025 are excluded from the 2,432 count. The clubs included opened between 2003 and 2024. Separate tables cover 270 of the 277 corporate-owned clubs on the same open-all-year basis, and a combined corporate-plus-franchised population of 2,561 clubs. Costs, EBITDAR and EBITDA are shown only for 262 corporate-owned clubs and no franchisee cost data is presented, because the franchisor states it does not receive complete expense information from franchisees. In every table the clubs are split into thirds by revenue rather than reported as a single system-wide figure.
Qualifications: Annual EFT Revenue is not total club revenue. It is defined as revenue on recurring monthly and annual membership fees billed to members by electronic funds transfer, matching the royalty base, and it excludes paid-in-full memberships, retail sales and all other revenue sources as well as returns and taxes. The franchisor states that in 2025 monthly declines and returns at its corporate clubs ranged from 2.3% to 38.1% of gross membership EFT. Figures are presented in thirds rather than as one system-wide average, and within each third fewer than 60% of clubs met or exceeded that third's average, so the averages sit above the typical club in each group. The upper third has a very wide spread, from $2,171,673 to $5,271,381. All cost, EBITDAR and EBITDA information relates solely to 262 corporate-owned clubs operated by an affiliate; no franchisee expense or profit data is presented, and the franchisor says it does not receive complete franchisee expense information. Corporate club costs exclude equipment replacement and remodel spending, which is capitalised, and exclude the initial franchise fee and other start-up costs. Corporate clubs benefit from bulk insurance pricing and, per Item 8, received roughly $9,600,000 in equipment discounts from affiliate PF Equipment in 2025, so their cost base may not be representative. The clubs in the tables opened between 1992 and 2024, so they are established rather than new locations. Figures are unaudited results drawn from the franchisor's books and records; written substantiation is available on request.
View full Item 19 disclosure and tables
Planet Fitness makes a financial performance representation, but it reports revenue in three bands rather than as a single average. For the 2,291 franchised U.S. clubs (including Puerto Rico) that were open the whole of 2025, average Annual EFT Revenue was about $1.26 million in the bottom third, $1.87 million in the middle third and $2.71 million in the upper third, with medians close to those averages and a full range from $429,581 to $5,271,381. Because no all-clubs mean is published, this record leaves the headline average blank rather than substituting a calculated one. Corporate-owned clubs are reported separately and run slightly higher in each band. Note that the measure is membership EFT only: paid-in-full memberships, retail and other income are excluded, and the same base is what the 7% royalty is charged on. Cost and profitability information exists, in the form of a Revenue and Operations Statement with EBITDAR and EBITDA, but it covers 262 affiliate-operated corporate clubs only, contains no franchisee data, and treats equipment replacement and remodels as capital rather than expense. A prospective franchisee therefore gets a credible read on top-line membership revenue across a very large, mature population, and no direct evidence at all of what a franchised club earns after costs.
| Metric | Subset | Value | Units | Period | Cite |
|---|---|---|---|---|---|
| Annual EFT Revenue — franchised clubs, bottom third 57% of units met or exceeded 437 of the 764 clubs in this third met or exceeded the third's average. | Franchised only — bottom third by Annual EFT Revenue Average | $1,260,539 | 764 | CY2025 | FDD p.83 |
| Annual EFT Revenue — franchised clubs, middle third 48% of units met or exceeded 370 of the 764 clubs in this third met or exceeded the third's average. | Franchised only — middle third by Annual EFT Revenue Average | $1,873,231 | 764 | CY2025 | FDD p.83 |
| Annual EFT Revenue — franchised clubs, upper third 39% of units met or exceeded 296 of the 763 clubs in this third met or exceeded the third's average. | Franchised only — upper third by Annual EFT Revenue Average | $2,705,811 | 763 | CY2025 | FDD p.83 |
| Annual EFT Revenue — franchised clubs, bottom third (median) | Franchised only — bottom third by Annual EFT Revenue Median | $1,311,575 | 764 | CY2025 | FDD p.83 |
| Annual EFT Revenue — franchised clubs, middle third (median) | Franchised only — middle third by Annual EFT Revenue Median | $1,863,300 | 764 | CY2025 | FDD p.83 |
| Annual EFT Revenue — franchised clubs, upper third (median) | Franchised only — upper third by Annual EFT Revenue Median | $2,595,549 | 763 | CY2025 | FDD p.83 |
| Annual EFT Revenue — lowest franchised club in the population Low value reported for the bottom third, which is the lowest of the three franchised groups. | Franchised only — bottom third by Annual EFT Revenue Low | $429,581 | 764 | CY2025 | FDD p.83 |
| Annual EFT Revenue — highest franchised club in the population High value reported for the upper third, which is the highest of the three franchised groups. | Franchised only — upper third by Annual EFT Revenue High | $5,271,381 | 763 | CY2025 | FDD p.83 |
| Annual EFT Revenue — corporate-owned clubs, bottom third 56% of units met or exceeded Corporate-owned clubs are operated by affiliate Planet Fitness Assetco LLC, not by franchisees. | Corporate-owned only — bottom third Average | $1,369,308 | 90 | CY2025 | FDD p.84 |
| Annual EFT Revenue — corporate-owned clubs, middle third 52% of units met or exceeded | Corporate-owned only — middle third Average | $2,018,854 | 90 | CY2025 | FDD p.84 |
| Annual EFT Revenue — corporate-owned clubs, upper third 34% of units met or exceeded | Corporate-owned only — upper third Average | $2,727,986 | 90 | CY2025 | FDD p.84 |
| Annual EFT Revenue — corporate and franchised clubs combined, bottom third 56% of units met or exceeded Combined population is 2,561 clubs (2,291 franchised plus 270 corporate-owned). | Corporate and franchised combined — bottom third Average | $1,270,876 | 854 | CY2025 | FDD p.84 |
| Annual EFT Revenue — corporate and franchised clubs combined, middle third 48% of units met or exceeded | Corporate and franchised combined — middle third Average | $1,887,931 | 854 | CY2025 | FDD p.84 |
| Annual EFT Revenue — corporate and franchised clubs combined, upper third 38% of units met or exceeded | Corporate and franchised combined — upper third Average | $2,709,925 | 853 | CY2025 | FDD p.84 |
| Net Revenue — lowest corporate-owned club in the Revenue and Operations Statement Net Revenue is a broader measure than Annual EFT Revenue and is reported only for corporate-owned clubs. | Corporate-owned only — bottom third of the Revenue and Operations Statement Low | $580,550 | 88 | FY2025 (ended Dec 31, 2025) | FDD p.87 |
| Net Revenue — highest corporate-owned club in the Revenue and Operations Statement | Corporate-owned only — upper third of the Revenue and Operations Statement High | $4,033,345 | 87 | FY2025 (ended Dec 31, 2025) | FDD p.87 |
| Net Revenue per square foot — corporate-owned clubs, lowest in bottom third | Corporate-owned only — bottom third of the Revenue and Operations Statement Low | 23.34 | 88 | FY2025 (ended Dec 31, 2025) | FDD p.87 |
| Net Revenue per square foot — corporate-owned clubs, highest in upper third | Corporate-owned only — upper third of the Revenue and Operations Statement High | 233.3 | 87 | FY2025 (ended Dec 31, 2025) | FDD p.87 |
| Required local marketing spend — corporate-owned clubs, bottom third Amount these corporate clubs would have been required to spend on local advertising under the franchise agreement local marketing formula. Median for this third was $80,158. This is a cost, not revenue. | Corporate-owned only — bottom third of the Revenue and Operations Statement Average | $77,533 | 88 | FY2025 (ended Dec 31, 2025) | FDD p.88 |
| Required local marketing spend — corporate-owned clubs, middle third Median for this third was $114,774. This is a cost, not revenue. | Corporate-owned only — middle third of the Revenue and Operations Statement Average | $114,254 | 87 | FY2025 (ended Dec 31, 2025) | FDD p.88 |
| Required local marketing spend — corporate-owned clubs, upper third Median for this third was $150,583. This is a cost, not revenue. | Corporate-owned only — upper third of the Revenue and Operations Statement Average | $154,381 | 87 | FY2025 (ended Dec 31, 2025) | FDD p.88 |
System health (Item 20)
Outlets, openings, exits and transfers by fiscal year · U.S. onlyView detailed Item 20 tables and source notes
| Fiscal year | Start | Opened | Terminated | Not renewed | Reacquired | Ceased — other | End | Transfers | Company-owned (end) |
|---|---|---|---|---|---|---|---|---|---|
| 2023 | 2,082 | 123 | 0 | 0 | 4 | 0 | 2,201 | 100 | 254 |
| 2024 | 2,201 | 100 | 0 | 1 | 0 | 2 | 2,298 | 270 | 270 |
| 2025 | 2,298 | 141 | 7 | 0 | 0 | 0 | 2,432 | 71 | 277 |
Disclosed 2026 Franchise Disclosure Document — Planet Fitness Franchising LLC, Item 20, Tables 1–3 (PDF p. 91). Counts are U.S. outlets (Item 19 describes the same 2,432 franchised clubs as U.S. clubs including 18 in Puerto Rico); clubs franchised by affiliates in Canada, Mexico, Central America, Spain, New Zealand and Australia are not in these tables. Table No. 3 foots exactly in all three years. Franchised outlets grew by 350 over the three years, from 2,082 at the start of 2023 to 2,432 at the end of 2025, with 364 openings and only 14 exits (7 terminations in 2025, 1 non-renewal in 2024, 4 reacquisitions by the franchisor in 2023 and 2 clubs ceasing operations for other reasons in 2024). One inconsistency: Table No. 4 shows company-owned outlets ending 2024 at 271 while Table No. 1 shows 270 at the end of 2024 and Table No. 4 itself shows 270 at the start of 2025; the FDD carries a footnote that one club in New York was relocated to a nearby site in Pennsylvania, which may or may not explain the one-unit difference. Transfers spiked to 270 in 2024, concentrated in Illinois (54), Georgia in 2023 (43), Minnesota (31), Indiana (29) and Colorado (26), which suggests portfolio-level sales between multi-unit owners rather than single-club resales; Item 20 excludes transfers where beneficial ownership of less than 50% changed and transfers to an owner's own entity or to heirs. In 2025 the franchisor's affiliate sold 8 corporate clubs to a franchisee.
Source data notes (13) — inconsistencies found in the FDD itself during verification
Our verification re-reads every table. Where the FDD's own printed tables disagree, we document the discrepancy rather than silently "fixing" it. Classes: B = arithmetic error in the source's derived column; C = the printed tables genuinely disagree; D = a legitimate definitional difference (e.g., transfers netted, explained by a footnote); E = unresolved ambiguity. Figures a material C/E issue puts in doubt are excluded from our derived metrics, scores and rankings.
- [C/minor] Table 4 2024: Pass A observation: Table 4's FY2024 TOTAL row ends at 271 (254 + 17 opened, no closures or sales), but the FY2025 TOTAL row starts at 270 and Table 1 reports company-owned outlets at the end of 2024 as 270. — Genuine printed disagreement, verified on the page image of physical page 99 (text layer is accurate, so this is not an extraction error). Table 4 prints 'Total 2024 254 17 0 0 0 271' while Table 1 prints 'Company-Owned 2024 254 270 +16' and Table 4's own next row prints 'Total 2025 270 15 0 0 8 277'. The 270 is corroborated twice (Table 1 and the FY2025 row, which foots to Table 1's 277), so use 270 for end-of-2024 company-owned units and 16, not 17, as the net company-owned addition; the 271 is the outlier.
- [C/minor] Table 4 2024: Pass B observation: the same Table 1 (270) versus Table 4 (271) mismatch, with the added point that Table 4's FY2024 state rows themselves sum to 271, so the 271 is internally consistent within Table 4. — Confirmed: the FY2024 end column sums to 271 across the 15 listed states (7+8+0+5+66+23+5+4+22+16+38+17+22+36+2). Same underlying discrepancy as the entry above; Table 1's 270 remains the corroborated figure because Table 4's FY2025 start row also prints 270 and only that value makes the FY2025 row foot to 277.
- [C/minor] Table 4 2025: Pass B observation: carry-forward break inside Table 4 at Alabama - 2024 shows start 6, opened 1, end 7, but the 2025 row starts at 6 with no intervening closure or sale. — Confirmed on the page image of physical page 98: Alabama reads 2024 '6 1 0 0 0 7' and 2025 '6 0 0 0 0 6'. This single-unit break is the sole source of the 271-versus-270 gap; either Alabama's 2024 opening or its 2024 end figure is wrong. The corroborated total is 270, so the state-level error sits in the Alabama row, not in the printed totals the site uses.
- [C/minor] Table 4 2023: Not raised by either pass: Table 4's FY2023 state rows do not sum to its FY2023 TOTAL row. The state starts sum to 238 against a printed 232, and Colorado's FY2023 row shows 6 outlets 'Sold to Franchisees' while the TOTAL row prints 0 in that column. — Verified on the page images of pages 98 and 99. Colorado FY2023 reads '6 0 0 0 6 0'; the TOTAL row reads '2023 232 18 4 0 0 254'. The printed total is internally consistent (232 + 18 + 4 = 254) and its start matches Table 1's company-owned start of 2023 (232), and the FY2023 end column does sum to 254, so the totals the site uses are sound; the Colorado row appears to carry 6 clubs that had already left company ownership. Table 3 shows no matching franchised gain in Colorado for 2023 (34 start, 3 opened, 37 end), so those 6 units appear in no franchised inflow either.
- [D/minor] Table 4 2023: Pass A observation: a ** footnote on the New York and Pennsylvania FY2023 rows states one New York club was relocated to a nearby site in Pennsylvania, so some movement in those rows is a relocation rather than a genuine opening or closure. — Explained by the printed footnote ('**One club in New York was relocated to a nearby site in Pennsylvania'). Both state rows still foot (NY 34 + 1 = 35; PA 20 + 2 = 22) and the FY2023 total (232 + 18 + 4 = 254) matches Table 1, so at most one unit of the 18 company-owned openings is a relocation rather than a new club. Definitional, not an error.
- [D/minor] Table 3: Pass A observation: Table 3's footnote states that where multiple events affected one outlet in a year only the last event in time is shown, so the individual event columns can understate how many outlets experienced a given event type. — Printed footnote on page 97 ('If multiple events occurred affecting an outlet, this table shows the event that occurred last in time'). The TOTAL rows still foot for all three years (2,082 + 123 - 4 = 2,201; 2,201 + 100 - 1 - 2 = 2,298; 2,298 + 141 - 7 = 2,432) and match Table 1, so unit counts are safe; only the attribution among attrition columns is affected and should be read as a floor.
- [D/minor] Table 3 2023: Pass B observation: Table 3 foots cleanly in all three years and reconciles to Table 1, but the FY2023 end value is typeset as '2201' without the thousands separator used everywhere else in the column. — Typesetting only. The value is 2,201 and is corroborated by Table 1 (franchised end of 2023 = 2,201) and by the FY2024 start row. No numeric effect; flagged only because a naive parser could mis-read an unseparated figure.
- [D/minor] Table 2 2024: Pass B observation: Table 2 foots in all three years (100, 270, 71); FY2024's 270 transfers is an outlier concentrated in Illinois (54), Minnesota (31), Indiana (29) and Colorado (26), and the definitional footnote contains a garbled clause. — Totals confirmed on the page image of physical page 93 (Total 2023 100, 2024 270, 2025 71). The garbled wording is in the printed document, not the extraction: the footnote reads 'circumstances where and individual transfers to an entity the individual owns'. It is a typographical defect in a definitional note with no numeric effect. The stated exclusions (changes of under 50% beneficial ownership, individual-to-own-entity transfers, transfers to heirs) mean Table 2 understates total ownership-change activity; the FY2024 spike is genuine and consistent with multi-unit portfolio sales.
- [E/minor] Table 3 / Table 4 2025: Pass B observation: Table 4 shows 8 company-owned California clubs 'Sold to Franchisees' in FY2025 (California corporate goes 8 to 0), but Table 3 has no column for outlets acquired from the franchisor, and Pass B concluded those 8 clubs are not counted in the franchised 'Outlets Opened' total of 141. — Pass B's conclusion cannot be confirmed and is probably wrong. Table 3's California FY2025 row reads 197 start, 28 opened, 225 end, and the 8 transferred clubs were franchised on 31 December 2025, so they are most likely inside those 28 (and inside the 141 total), which would make 2025 franchised openings overstate genuine new builds by 8. But the FY2023 Colorado precedent shows the same movement (6 clubs sold to franchisees) producing no matching franchised inflow at all, so Item 20 supports both readings and neither is corroborated. The printed totals themselves foot either way.
- [D/minor] Table 5 2026: Pass B observation: Table 5 foots (86 agreements signed but not opened; 53 projected new franchised outlets; 4 company-owned) and is based on signed leases as of 31 December 2025, yet 53 projected franchised openings is well below the 141, 100 and 123 opened in 2025, 2024 and 2023. — Totals confirmed on the page image of physical page 99. The gap is definitional, not an error: Table 5 counts only outlets with signed leases as of year end, while historical openings include units leased during the year. Treat the 53 as a floor for next-year openings, not a forecast.
- [D/minor] Item 20 (all tables): Pass B observation: Item 20 covers only the United States (50 states, DC and Puerto Rico); Canadian, Mexican, Australian, Central American, Spanish and New Zealand outlets are franchised by separate affiliates named in Item 1 and appear nowhere in Item 20. — Correct and definitional. Item 1 confirms the separate foreign franchisor affiliates, and Table 4's footnote limits the tables to states with outlets to report. All derived counts must be labelled U.S.-only; they are not global system counts.
- [D/minor] Table 3: Pass B observation: Table 3 records zero terminations in 2023 and 2024 and zero non-renewals in 2023 and 2025, only 7 terminations across three years, an unusually low attrition profile alongside 441 transfers. — No arithmetic problem: the totals foot and reconcile to Table 1 in all three years. The low counts should be read with Table 3's 'last event in time' convention and with Table 2's transfer volume, since an outlet sold rather than terminated shows up as a transfer, not attrition. Attrition metrics are correct as printed but understate franchisee exits.
- [D/minor] Table 1: Pass B observation: Table 1's net-change column is internally consistent in all three years (+119/+22/+141, +97/+16/+113, +134/+7/+141). — Confirmed by arithmetic on the printed start and end columns. This is the corroboration that confines the FY2024 company-owned discrepancy to Table 4 and supports using Table 1's 270 for end-of-2024 company-owned outlets.
Company-owned outlets (Table 4)
| Year | Start | Opened | Reacquired from franchisee | Closed | Sold to franchisee | End |
|---|---|---|---|---|---|---|
| 2023 | 232 | 18 | 4 | 0 | 0 | 254 |
| 2024 | 254 | 17 | 0 | 0 | 0 | 271 |
| 2025 | 270 | 15 | 0 | 0 | 8 | 277 |
Read: How to read Item 20.
Ownership and operations
Items 11, 12, 15, 17Owner-operator required Disclosed
- Source
- 2026 Franchise Disclosure Document — Planet Fitness Franchising LLC
- Document
- FDD 2026, issued 2026-05-22
- Item
- Item 15
- Page
- PDF p. 67
- Obtained
- Wisconsin Department of Financial Institutions — Franchise Registration Search, file 641806
you (or your Responsible Owner) must personally manage and operate the franchise as your primary occupation
Unless the franchisor approves an 'Approved Operator', the franchisee or its designated Responsible Owner must personally manage and operate the club as their primary occupation, devote full-time best efforts to it, and may not engage in another business requiring substantial management time without consent. Delegation is not guaranteed. Day-to-day management may be carried out by the franchisee, one of its owners, an Approved Operator, or a manager who has completed the initial training program; a manager need not hold equity. An entity franchisee must designate a Responsible Owner who holds an ownership interest, can bind the entity and has completed training, and the franchisee or its management must log into the franchise portal at least weekly.
View operating requirements, territory and contract term
| Owner involvement (Item 15) | Owner-operator required Disclosed
Unless the franchisor approves an 'Approved Operator', the franchisee or its designated Responsible Owner must personally manage and operate the club as their primary occupation, devote full-time best efforts to it, and may not engage in another business requiring substantial management time without consent. Delegation is not guaranteed. Day-to-day management may be carried out by the franchisee, one of its owners, an Approved Operator, or a manager who has completed the initial training program; a manager need not hold equity. An entity franchisee must designate a Responsible Owner who holds an ownership interest, can bind the entity and has completed training, and the franchisee or its management must log into the franchise portal at least weekly. Unless the franchisor approves an 'Approved Operator', the franchisee or its designated Responsible Owner must personally manage and operate the club as their primary occupation, devote full-time best efforts to it, and may not engage in another business requiring substantial management time without consent. Delegation is not guaranteed. Day-to-day management may be carried out by the franchisee, one of its owners, an Approved Operator, or a manager who has completed the initial training program; a manager need not hold equity. An entity franchisee must designate a Responsible Owner who holds an ownership interest, can bind the entity and has completed training, and the franchisee or its management must log into the franchise portal at least weekly. |
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| Initial training | Initial training has two mandatory phases for all first-time franchise owners. Phase 1, Owner Orientation, is 16 hours of classroom instruction covering philosophy, the brand story, pre-opening, presale, equipment, marketing, staffing, opening and ongoing operations. Phase 2, Pre-Sale and Operations Training, is 20 classroom hours plus 160 hours of on-the-job training, for a combined program of 36 classroom hours and 160 on-the-job hours. Training is delivered at the franchisor's headquarters in Hampton, New Hampshire and at a Planet Fitness club the franchisor selects, and some of it may be conducted remotely; the program typically runs at least monthly. The franchisee (or its Responsible Owner) and any Approved Operator must attend and complete both phases, as must all managers who have not previously completed the program. There is no training fee for the franchisee and up to two additional individuals, but the franchisee pays all compensation, travel, meals and lodging (Item 7 budgets $2,000–$10,000). Initial training must be completed within 90 days of signing the Franchise Agreement and in any event before opening; failure to complete it to the franchisor's satisfaction permits termination. The designated POS vendor provides one day of on-site system training at roughly $800 per day per person. Ongoing, the franchisor expects to require up to two people to attend no more than two refresher sessions of up to five days per calendar year, at a workshop fee of $500–$1,500 plus expenses. Disclosed
Hours are taken from the Item 11 Training Program table totals: 16 classroom hours for Owner Orientation and 20 classroom plus 160 on-the-job hours for Operations Training. |
| Multi-unit / development options | Area development is offered. Under an Area Development Agreement the developer commits to open one or more clubs in a defined Development Area on a schedule set by population and market potential, and pays an Area Development Fee of $10,000 per location to be developed — or $30,000 per location where the developer or an affiliate previously had an Area Development Agreement for the same or a similar territory terminated before completion. The fee is fully earned on signing, non-refundable, and not credited against other obligations. The franchisor states it is currently waiving Initial Franchise Fees for Franchise Agreements issued under Area Development Agreements, a policy it may end at any time. Clubs opened ahead of the required date, where the developer is in compliance with all its agreements, may qualify for a Royalty Incentive Period during which no royalty is payable until the earlier of the required opening date or 180 days after opening; NAF and other fees still apply. A developer must own 51% or more of each entity that signs a Franchise Agreement under the Area Development Agreement. Missing an opening deadline triggers a Late Development Fee of $5,000 per 30-day period, which is uncapped under the Area Development Agreement. Disclosed
Drawn from Item 1 (PDF page 10), Item 5 (PDF page 18), Item 6 (PDF pages 19 and 25) and Item 12 (PDF page 58). |
| Territory (Item 12) | The Franchise Agreement grants no exclusive or protected territory. It gives the right to operate one club at one approved location, with no options or rights of first refusal to acquire additional franchises. The franchisor expressly reserves the right, without compensating the franchisee, to operate and franchise other Planet Fitness clubs anywhere, to sell products and services under the marks through any channel including the internet, to operate or franchise other fitness brands including in close proximity to the franchisee's club, to develop or acquire competing concepts, and to enter corporate membership partnerships on terms the franchisee must honour. Relocation requires prior written consent and a site meeting current criteria, and may carry a relocation marketing spend of up to $30,000 per 30 days. Area developers get a narrower protection: while the developer complies with its Development Schedule, the franchisor, its parent and affiliates will not develop, operate or franchise a Planet Fitness club in the Development Area, subject to carve-outs for clubs already operating there when the agreement is signed and for non-traditional locations such as airports, military installations, hotels, universities and corporate offices, on which the developer holds only a 60-day right of first refusal. Disclosed
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| Initial term | 12 years Disclosed
Twelve years from the date operations begin. On written request the franchisor may grant up to a one-year extension or up to a two-year reduction to match the lease expiry. A Successor Amendment carries the term required by the initial franchise agreement; an Acquisition Amendment runs for the remainder of the acquired franchise's term. |
| Renewal | There is no automatic right of renewal. A successor franchise may be granted if the franchisee meets the franchisor's then-current requirements: substantial compliance during the term, curing all identified deficiencies, remodelling the leasehold as required, paying a $20,000 successor franchise fee, signing the then-current form of successor franchise agreement (which may contain materially different terms), demonstrating continued possession of the site or an accepted substitute, meeting current qualification and training requirements, signing a general release, and being current with the franchisor, its affiliates, vendors, the landlord and any lessor. A franchisee that does not want a successor franchise must give notice by the earlier of 30 days before its lease extension option lapses or 180 days before the term expires, or pay a $25,000 Late Non-Renewal Fee. If the agreement expires without renewal the franchisor may permit month-to-month operation, during which it may raise the royalty by up to 4% of the EFT Dues Draft and either party may terminate on 30 days' notice. Disclosed
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Risk and legal observations
Items 3, 4, 8, 15, 17 — summarized neutrallyLitigation: 5 matter(s) disclosed Disclosed · Bankruptcy: Disclosure present Disclosed
View legal disclosures, restrictions and guarantees
| Litigation (Item 3) | 5 matter(s) disclosed Disclosed Item 3 lists one pending matter, three prior actions and one governmental action. Pending: a New Jersey suit brought in May 2024 by Wyndham Hotel Group and subsidiaries against LuxUrban Hotels and a principal over franchise agreement obligations, in which the defendant principal filed a December 2024 counterclaim against two Wyndham executives, one of whom is now Planet Fitness's Chief Development Officer, alleging fraudulent or negligent misrepresentation; damages are unspecified, the case is in discovery, and the franchisor states it is not a party. Prior actions: an action the franchisor's international affiliate brought in 2020 against a Mexican developer over a book-value purchase obligation, in which the developer counterclaimed for breach of contract, tortious interference and a state consumer protection claim, settled in October 2023 with the affiliate repurchasing the Mexican locations; a 2013 Massachusetts suit by a former CFO of the predecessor entity alleging misrepresentation about her ownership interests, which ended in a June 2022 final judgment against the defendants of $8,826,394.20; and a 2017 AAA arbitration brought by an area developer whose Area Development Agreement was terminated for missing its development schedule, settled in August 2018 with an affiliate repurchasing four of the developer's franchises. Governmental: a November 2015 assurance with the New York Attorney General resolving allegations that certain 'free' and 'unlimited' advertising was deceptive and that seven of roughly eighty New York franchise locations had breached state indoor tanning rules; the settlement restricted such advertising and health claims in New York. The franchisor reports no litigation against franchisees in the last year. |
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| Bankruptcy (Item 4) | Disclosure present Disclosed One matter: a Vice President and Senior Associate General Counsel of predecessor Pla-Fit Franchise filed a personal Chapter 7 petition in New Hampshire on March 2, 2018 and received a discharge on July 3, 2018. No franchisor, parent, predecessor or affiliate bankruptcy is disclosed. |
| Personal guaranty | Required Disclosed
Item 1 states that owners of an entity franchisee must sign a personal guaranty agreeing to comply with the Franchise Agreement. Item 15 requires any person holding a 10% or greater interest to sign the Guaranty of Franchisee's Obligations, personally guaranteeing the entity's obligations, and every person with an interest to sign a confidentiality and non-competition agreement unless designated a silent investor. Spouses are not currently required to sign. An approved affiliate entity may sign in place of individual owners if it holds a majority interest in at least five open Planet Fitness clubs, or in clubs whose combined annual EFT revenue has been at least $1,200,000 for two consecutive years. |
| Non-compete | During the term, the franchisee, its owners and their immediate family members may not be directly or indirectly involved — including as a lender — in the operation of any 'Competitive Business', defined broadly as any venture offering fitness or exercise services other than as a non-material part of its offering (health clubs, gyms, physical fitness clubs, personal training studios, weight or resistance training studios) or offering digital fitness classes, content, instruction or advice, or in any business franchising or licensing such businesses. After termination, expiry or transfer the same restriction runs for two years at the location, within 15 miles of the location, and within 15 miles of any other Planet Fitness club. If the franchisor exercises its right of first refusal to buy the business, it may additionally require the franchisee and its owners to accept the restriction for five years from closing within 15 miles of any Planet Fitness business or development rights sold to it. Disclosed
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| Transfer restrictions | All transfers require the franchisor's prior written approval. 'Transfer' is defined broadly and captures transfers of the agreement, of any ownership interest in the franchisee, of the business or the underlying premises, and sales of receivables or EFT streams outside the ordinary course. Conditions include the transferee signing the guaranty and confidentiality and non-competition appendices, meeting the franchisor's character, suitability and financial standards, and the transferor meeting holding-period conditions. The transfer fee is $10,000 per club plus up to a further $10,000 of the franchisor's legal and administrative costs, waived (except for costs) for transfers to an existing owner, to a family member taking a non-controlling interest, to an owner's estate-planning entity, or to a third party taking 5% or less. The franchisor holds a right of first refusal to buy the interests or assets on the terms of any bona fide offer for a transfer of the agreement, of a controlling interest, or of substantially all assets. Death or disability of the franchisee is treated as a transfer. Transferring Area Development Agreement rights costs $5,000 per location plus up to $5,000 of costs and requires that all related Franchise Agreements go to the same transferee. Item 20 shows 100, 270 and 71 outlet transfers in 2023, 2024 and 2025. Disclosed
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| Termination / non-renewal | The franchisor may not terminate without cause. It may terminate for material, uncured breaches; curable defaults include payment, opening, operational, conduct and unfair-competition defaults, with cure periods generally running from 24 hours to 60 days, and some conduct defaults curable only by the offending owner giving up ownership and involvement. Non-curable defaults include insolvency, abandonment or permanent closure, loss of control without consent, misrepresentation, cross-defaults and repeated defaults, with immediate termination available if anti-terrorism law bars dealing with the franchisee. Termination by the franchisor with cause, and certain terminations by the franchisee, trigger an Early Termination Fee equal to the average monthly royalty over the prior 24 months multiplied by the lesser of 36 or the whole months remaining in the term. The franchisee may terminate on any ground available at law; on 30 days' notice if the franchisor materially breaches and fails to cure within 60 days of notice; on 30 days' notice if the club has not yet opened, subject to signing a mutual termination agreement; and on 12 months' notice if the club has been open at least three years, its EFT Dues Draft has stayed in the lowest 5% of similarly sized Planet Fitness clubs for 12 consecutive months, it can show the business is unprofitable, and it is in compliance. On termination or expiry the franchisor holds a 60-day option to purchase the business. Post-term obligations include paying amounts owed, ceasing use of the marks and debranding, with a Debrand Deficiency Fee of currently $35,000 plus $35,000 if debranding requirements are not met. Disclosed
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| Supplier restrictions (Item 8) | Purchasing is tightly controlled. Fixtures, furnishings, fitness equipment, displays, merchandise, services, uniforms, insurance, signs, marketing materials, data security and technology must be bought from the franchisor, its approved suppliers, or to its specifications, and approved suppliers can be limited to a single source. Affiliate PF Equipment is currently the sole supplier of required fitness equipment in the U.S., and the franchisor is the sole provider of certain required CRM software. Club management, member management and POS systems must come from a designated POS supplier. Marketing suppliers and the agency administering local advertising spend must be approved. Franchisees may request approval of an alternative supplier, with the franchisor's evaluation costs, capped at $25,000, reimbursable. The franchisor estimates that items bought to its specifications represent about 97% of total pre-opening purchases and 11% to 40% of ongoing operating costs. For the year ended December 31, 2025 it discloses that PF Equipment had gross revenue of approximately $333,000,000 from equipment purchased or leased by franchise locations plus related placement and assembly services, together with a volume-based rebate of approximately $22,000,000 on franchisee equipment purchases; the franchisor itself earned approximately $60,000 in supplier commissions, less than 1% of its total 2025 revenue of $385,100,000. Affiliate Assetco, which operates the corporate clubs, received approximately $9,600,000 of discounts from PF Equipment. The franchisor and affiliates reserve the right to collect vendor revenue, limited to defined permitted categories where the royalty is at least 7%. No purchasing or distribution cooperative exists in the system. Disclosed
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| Dispute resolution | All disputes under the Franchise Agreement are to be resolved by mediation and arbitration, with each party retaining the right to seek injunctive relief from a court of competent jurisdiction. Subject to state law, the forum is Portsmouth, New Hampshire — or the city of the franchisor's then-current headquarters if it leaves New Hampshire — and New Hampshire law governs. The Area Development Agreement carries the same mediation and arbitration requirement, forum and choice of law. The cover pages carry a state-required special risk notice that out-of-state dispute resolution may force a franchisee to accept a less favourable settlement and may cost more than proceeding in its own state. The franchisee must reimburse the franchisor's accounting, attorneys', arbitrators' and related costs if the franchisor prevails or if the franchisee fails to participate in mediation. Disclosed
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- No territorial protection under the Franchise Agreement: the franchisor may open or franchise another Planet Fitness club, or another fitness brand it controls, at any distance from the franchisee's location.
- Mandatory recurring capital spending: equipment replacement estimated at $333,000 to $995,000 every 5 to 9 years payable to the franchisor's affiliate, and substantial remodels estimated at $250,000 to $1,200,000 no more often than every 12 years.
- The franchisor may compress those re-equipment and remodel timelines by winning a vote of 66% of all U.S. company-owned and franchised clubs or 51% of all U.S. franchised clubs, and may amend the Franchise Agreement itself with the approval of 70% of U.S. franchised clubs — so an individual franchisee's terms can change without its own consent.
- The royalty base is the EFT Dues Draft billed to members whether or not collected, and the franchisor discloses monthly declines and returns of 2.3% to 38.1% of gross membership EFT at its corporate clubs in 2025.
- Advertising obligations are substantial and can rise: NAF up to 3% of the EFT Dues Draft, local advertising at the greater of $60,000 a year or 7% of cumulative monthly EFT, combined capped at 9%, plus special marketing programs of up to 7% of monthly EFT in a single month.
- The franchisor does not permit franchisees to borrow more than 80% of the initial investment.
- The franchisor's affiliate PF Equipment is the sole source of required fitness equipment and reported approximately $333,000,000 of gross revenue from franchise locations in 2025, so a large share of the initial and recurring investment flows to a related party.
- The franchisor's own affiliate operates 277 corporate clubs alongside the franchise system and sold 8 of them to a franchisee in 2025.
Summaries are neutral paraphrases of the cited document and are not legal advice. Read the full Items in the current FDD and consult a franchise attorney.
Illustrative unit economics
Not disclosedNo model is offered for Planet Fitness because no annual average unit sales disclosed in Item 19. We do not manufacture estimates where the disclosure does not support them.
Sources and provenance
Primary source: 2026 Franchise Disclosure Document — Planet Fitness Franchising LLC · issued 2026-05-22. Find the FDD at Wisconsin Department of Financial Institutions — Franchise Registration Search. We cite source pages and do not redistribute PDFs.
View all sources, provenance and verification notes
| Document | Obtained from | Dates | Status |
|---|---|---|---|
| 2026 Franchise Disclosure Document — Planet Fitness Franchising LLC Registry file 641806 · 550 pages Wisconsin registration effective 5/22/2026, status Registered. Issuance date on the cover and receipt pages is May 22, 2026. Item 20 and Item 19 data cover the fiscal year ended December 31, 2025. | Wisconsin Department of Financial Institutions — Franchise Registration Search | Issued 2026-05-22 Retrieved 2026-08-29 | Newest available at retrieval |
AI-assisted extraction from the archived FDD text, independently machine-verified against the cited source (two passes plus tie-break); not human-reviewed. Extracted 2026-08-29. Last updated 2026-09-05. AI-assisted extraction independently machine-verified against the cited source document (2026-09-02): two independent AI reading passes plus tie-break re-inspection of every disagreement; 71 of 77 material fields confirmed (64 with the exact page citation re-confirmed), 0 corrected, 0 unresolved, 6 confirmed not disclosed. No human has reviewed this profile. Fiscal year covered: FY2025 (Dec 31, 2025). See how we use AI and verify data.
Fields flagged as uncertain (5)
- item19.metrics — the '2025 Revenue and Operations Statement — Corporate-Owned Clubs' table on PDF page 85 is an image with no text layer, so its revenue, cost, EBITDAR and EBITDA lines could not be extracted. Only the surrounding notes (highest and lowest Net Revenue, Net Revenue per square foot, required local marketing spend, and the percentages of clubs meeting each average) were recoverable. includes_cost_or_profit_data is set true because the FDD does disclose that data, but no profit metric values are recorded.
- franchisor.business_since and franchisor.franchising_since — Item 1 states the current franchisor entity was formed June 13, 2018 and has franchised since August 2018, while predecessor Pla-Fit Franchise, LLC was organized January 27, 2003 and offered Planet Fitness franchises from February 2003. 2003 is recorded for both on the basis of the predecessor. Item 19 notes the earliest corporate club in its population opened in 1992, so the concept itself predates 2003; the FDD does not state a founding year for the brand.
- fees.royalty.unit — recorded as pct_other rather than pct_gross_sales because the 7% is charged on the EFT Dues Draft (membership fees billed by electronic transfer), which excludes paid-in-full memberships, retail and other revenue.
- fees.local_marketing — recorded as 7 percent, but the actual obligation is the greater of $60,000 per year or 7% of cumulative monthly EFT, and it is reduced to the greater of $50,000 or 6% for 2026 only.
- item20.company_owned_status 2024 — Table No. 4 shows 271 company-owned outlets at the end of 2024 while Table No. 1 shows 270, and Table No. 4 itself shows 270 at the start of 2025. Both figures are recorded as printed.
Extraction notes (7)
- Item 7 arithmetic was checked: the low column of the line items sums exactly to $1,282,500 and the high column sums exactly to $5,386,000. The cover page ranges also reconcile — the difference between the financed high of $3,769,000 and the purchased high of $5,386,000 equals the equipment purchase-versus-down-payment differences ($995,000 less $298,500, plus $1,315,000 less $394,500).
- Item 20 Table No. 3 foots exactly in all three years and agrees with Table No. 1 franchised end-of-year counts for 2023, 2024 and 2025.
- Item 19 does not disclose a single average across all franchised clubs. As an internal cross-check only, weighting the three franchised tercile averages by club count (764, 764 and 763) gives roughly $1,946,000 per club, but that figure is our own arithmetic and is deliberately not published in any field of this record.
- Item 19 populations reconcile: 2,291 franchised plus 270 corporate-owned equals the 2,561 clubs in the combined table (854 + 854 + 853).
- The franchise fee is recorded as $40,000 for both low and high per Item 5, even though the Item 7 row reads $0–$40,000, because the $0 reflects the current waiver for franchise agreements issued under Area Development Agreements rather than a genuine variation in the standard fee.
- This is the 2026 FDD issued May 22, 2026 and registered in Wisconsin the same day; it is the current document, and Item 19 and Item 20 report fiscal year 2025 data.
- No minimum liquidity or net worth requirement appears anywhere in the cover pages or Items 1, 5, 7 or 15 of the reviewed document.
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