The franchised fitness club is increasing the price of its classic monthly membership from $10 to $15.
New Planet Fitness members will see a heftier cost for their efforts to stay in shape this summer. Planet Fitness , one of the country’s largest fitness club franchises with more than 2,400 clubs, is raising the cost of its classic card membership for the first time in 26 years as the company attempts to curb hits to its profit margins. The cost increase will affect new members who join the fitness club under its classic plan starting this summer.
Members already on the $10 classic plan don’t have to sweat about the 50% price increase, as they’re locked in at that rate as long as they maintain their memberships. However, members joining after the price increase kicks in this summer will have to shell out that additional $5. Why did corporate officials go with $5? According to the earnings call, executives tested several price increases, including a $12.99 and $14.99 cost per membership.
KVUE Tom Fitzgerald Austin Black Club
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