After nearly 30 years of building a reputation as the “affordable gym option”, Planet Fitness is finally raising its subscription membership prices.
Yet, the reason for this shift leaves a lot to be said about how the company is being run as a whole.
Planet Fitness Fights Back
Starting this summer, the base membership that Planet Fitness offers will be hiking up in price from $10 to $15. And the hikes aren’t just coming for their basic plans…
EVEN THE MOST EXPENSIVE PLANS ARE GOING UP.
The Top-tier membership…
Known as the Black Card…
will be offered at a starting price of $24.99 per month.
And while the c-suite of Planet Fitness is confident in their new pricing…
They also know that their customer base will be less than pleased.
The new decisions in membership pricing came after a sour performance for the gym chain. The company recently reported that their earnings for the first fiscal quarter did worse than they expected…
WHEREAS THEIR COMPETITORS WERE MUCH BETTER OFF.
Despite Planet Fitness’s revenue…
The company’s main base is made up primarily of young, budget-conscious clients.
Raising membership prices is a risky move, especially considering your customers…
Yet, the company is confident that this is the boost they need to get back up to the big leagues.
The Future Of Fitness
We all know that saving your health is the best investment any individual can make…
But will this investment by Planet Fitness be able to save them?
Be Great,
GCTV Staff
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