Form YOU 3 vs Planet Fitness Franchise Comparison

Below is an in-depth analysis and side-by-side comparison of Form YOU 3 vs Planet Fitness including start-up costs and fees, business experience requirements, training & support and financing options.

Start-Up Costs and Fees
 
Form YOU 3 Franchise
Planet Fitness Franchise
Investment $33,000 - $43,000$968,100 - $4,113,000
Franchise Fee $15,000$20,000
Royalty Fee -7% of Gross Membership Fees
Advertising Fee -9%
Year Founded -1992
Year Franchised -2003
Term Of Agreement -10 years
Term Of Agreement -10 years
Renewal Fee --


Business Experience Requirements
 
Form YOU 3 Franchise
Planet Fitness Franchise
Experience --

Financing Options
 
Form YOU 3 Franchise
Planet Fitness Franchise
  In-House/3rd PartyIn-House/3rd Party
Franchise Fees -/-No/No
Start-up Costs -/-No/No
Equipment -/-No/Yes
Inventory -/-No/No
Receivables -/-No/No
Payroll -/-No/No

Training & Support
 
Form YOU 3 Franchise
Planet Fitness Franchise
Training -* 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 * Purchasing cooperatives
Marketing -* Co-op advertising * Ad slicks * Regional advertising
Operations -* 40% of all franchisees own more than one unit * Absentee ownership of franchise is allowed. (70% of current franchisees are owner/operators)

Expansion Plans
 
Form YOU 3 Franchise
Planet Fitness Franchise
US Expansion -Yes
Canada Expansion --
International Expansion --

Company Overviews

About Form YOU 3

Form YOU 3 Weight Loss Centers has been a leader in the weight loss industry since 1982. Millions of dieters, just like you, have achieved tremendous success on our weight loss, weight management and nutrition programs with our high quality products and comprehensive member support system.
Form YOU 3 takes an integrated approach to weight loss. We offer two separate programs to fit members' individual weight loss needs. Our Traditional Program consists of food exchanges that provide a healthy diet and allow members to enjoy wholesome, natural, grocery store foods while still losing weight. Our new Form YOU FastTM Program is a nutrient-rich meal replacement program that offers aggressive weight loss and is often suited to members' active lifestyles. Our support system offers one-on-one guidance, behavioral modification techniques, weight management classes (in select locations), and motivational and nutritional tips. Form YOU 3 helps members to lose weight successfully and keep it off. Members learn to apply the skills they have been taught to change unhealthy food behavior patterns and develop a positive mindset to achieve and maintain a healthy body weight!

About Planet Fitness

Planet Fitness got its start in 1992 when Michael Grondahl acquired a struggling gym. He reduced membership prices to compete against better-known brands and focused on serving occasional or first-time gym users. Every Planet Fitness location holds a pizza night for members once a month, as well as a bagel morning, and Tootsie Rolls are available at all times.
Planet Fitness strives to promote health in a respectful atmosphere. For over a decade, Planet Fitness has gone to great lengths to provide its members with a friendly space to work out. We call it the Judgment Free Zone. We discourage weight dropping and obnoxious grunting so you can focus on your own workout and not the person next to you.

The total investment necessary to begin operation of a single Planet Fitness facility ranges from $968,100 to $3,072,000 if you finance your equipment.
This includes $48,000 to $297,000 that must be paid to the franchisor or its affiliate.
If you choose to purchase your equipment, the total investment necessary to begin operation of a single Planet Fitness facility ranges from $1,500,000 to $4,113,000.
This includes $295,000 to $912,000 that must be paid to the franchisor or its affiliate.
These estimated initial investment ranges also apply to each location that you develop under the Area Development Agreement (plus the Area Development Fee you pay at the time you sign the Area Development Agreement). If you sign an Area Development Agreement, you must develop one or more Planet Fitness facilities, and you will pay an Area Development Fee of $10,000 per planned location (paid in full when you sign the Area Development Agreement) in addition to the then-current initial franchise fee due for each location at the time the Franchise Agreement for that location is signed.

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