How much are you willing to pay for a gym membership? There are lots of gyms out there and their membership fees vary wildly. Among those fitness facilities that offer the cheapest membership fees is Planet Fitness.
Isn’t gym and fitness equipment expensive? Aside from the gym equipment they also have other machines like tanning beds, hydro massage chairs, and red light therapy machines in some of their facilities.
So why is Planet Fitness so Cheap? How do they make money if they charge such an affordable rate yet they have lots of different equipment that you can use?
Are they going to jack up their prices later on?
Well, the main reason why they are cheap is that it is a marketing strategy. Believe it or not, Planet Fitness still makes money even while charging an affordable membership fee. Let’s help you understand that further below.
Why Is Planet Fitness So Cheap? How Do They Earn?
Planet Fitness is known for its approximately $10 monthly membership fee. That’s a pretty good deal considering you get access to lots of different equipment. And they often accept SilverSneakers for those over 65!
Even if you go for their Black Card membership that’s in the range of $19.99 in most facilities, that would still be quite affordable especially if you use their body enhancement beds or tanning beds plus the gym facility.
With such affordable rates, it is no wonder that Planet Fitness is attracting more and more people to become members. That is exactly the reason why they are cheap!
The cheap membership prices at Planet Fitness can be used as a marketing strategy to attract more people to join. The more people that join, the more money they earn.
As of 2019, Planet Fitness says that they have about 14 million members worldwide. That is a lot.
The sheer number of members will enable Planet Fitness to earn enough or even more than enough to provide and maintain the facilities.
Even if you take one fitness facility, you’ll see that they have thousands of members. However, it is clear that all members can’t fit in the facility at the same time. That is another way Planet Fitness earns.
You see, not all Planet Fitness members regularly go to the fitness facility. We all have busy lives, and sometimes the gym trips go on the backburner for a while.
In that case, the equipment isn’t really used by those members but they still pay. The maintenance cost isn’t that high, once everything is purchased.
The price of the monthly membership plus the long-term contract that they provide is very attractive for people who are aspiring to start and stay fit. With a contract, people would think that it could push them to keep on coming because they’d paid already.
However, the low price could also make people think that they could miss going to the facility because they wouldn’t feel that they’ve wasted a lot of money. It’s just $10 anyways.
With most people not really going to the fitness facility and their membership still running, Planet Fitness just keeps on earning.
Apart from a cheap membership fee, some members who do not use the fitness facility don’t bother canceling their membership because it could be challenging. Canceling is only permitted through personal cancellation or certified mail. There’s, unfortunately, no way to cancel through the app.
It will also take time to process the cancellation. There are members who’d rather pay the monthly fees rather than go through the hassle of canceling their membership.
Is The Membership Worth The Money?
Another question to ask is if it is worth getting a membership at Planet Fitness? Well, even if they have affordable rates, you can still expect that they provide high-quality equipment.
However, getting your money’s worth will depend on how often you use the fitness facilities and the availability of fitness equipment that you want to use.
For comparison, many Crossfitters go 6 times per week, and are careful to get the most out of their more expensive membership.
Planet Fitness has a goal of providing a place to start to get fit without feeling that they are judged. They claim that they are a judge-free zone with no lunks allowed!
That being said, their target market is those who are simply looking for ways to get fit without being in gyms that could make them feel intimidated. That is also the reason why there is limited gym equipment at Planet Fitness.
You can’t find bench presses there. Although weights are available, they aren’t too heavy as well. That is because their target market isn’t the bodybuilders but the rest of the population who don’t intend to bulk up too much. In fact, some exercises are even banned!
They offer such machines for all their Black Card members.
The perks are that you can work out, tan, and have a massage all in one place. The fitness centers also offer other facilities like shower rooms and lockers.
Speaking of perks, another one that you might be interested in is the free pizza, bagel, or other foods that they give their members once a month.
The results you get out of using the facility will highly depend on you.
If you are diligent enough to continuously work out, you can certainly lose weight and build muscle using Planet Fitness’ equipment.
Different gyms have their own rates. There isn’t a uniform rate for all fitness facilities. That is why fitness facilities could go as cheap as they want.
One well-known gym for its cheap membership fee is Planet Fitness. You get a monthly membership there for as low as $10, while the premium membership runs in the range of $19.99.
Even with the low fees, Planet Fitness still manages to make a profit. That’s because they attract a lot of members to join because of their low rates. The more that join, the more they earn.
Plus, not all members actually go to their gym and work out constantly. Almost half of their members pay for the fees without using the fitness facility. That means fewer expenses for equipment maintenance but they still get to earn.
Even if members don’t go to the fitness facility, many do not cancel their membership. That’s because it can only be done by personally going to the home fitness facility or through certified mail.