| ||||
Updated RecentlyNitro Fitness for Men vs Planet Fitness Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of Nitro Fitness for Men vs Planet Fitness including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
||
| Investment | $55,500 - $76,500 | $968,100 - $4,113,000 |
| Franchise Fee | $39,800 | $20,000 |
| Royalty Fee | $498/month | 7% of Gross Membership Fees |
| Advertising Fee | - | 9% |
| Year Founded | 2004 | 1992 |
| Year Franchised | 2004 | 2003 |
| Term Of Agreement | 7 years | 10 years |
| Term Of Agreement | 7 years | 10 years |
| Renewal Fee | $5000 | - |
Business Experience Requirements |
||
| Experience | - | - |
Financing Options |
||
| In-House/3rd Party | In-House/3rd Party | |
| Franchise Fees | No/Yes | No/No |
| Start-up Costs | No/Yes | No/No |
| Equipment | No/Yes | No/Yes |
| Inventory | No/Yes | No/No |
| Receivables | No/Yes | No/No |
| Payroll | No/No | No/No |
Training & Support |
||
| 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 |
||
| US Expansion | - | Yes |
| Canada Expansion | No | - |
| International Expansion | No | - |
Company Overviews
About Nitro Fitness for Men
The Nitro franchise business was created by experienced businessmen with systems, solutions and services designed for franchise owners. Franchising opportunities are available for a total capital investment of $55,500 to $76,500. Liquid capital required is only $30,000.
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.
!["Entrepreneur]("https://d3fg11dgb68kbp.cloudfront.net/assets/photos/franchise-badge-22686037fc120ba1bd59c2c9fd6e0fbf.png"){kind=icon}
#7 in Franchise 500 for 2020.
#8 in Franchise 500 for 2021.