Planet Fitness, a well-known gym chain in the United States, will raise its "classic" membership price in over two decades.
The $10.00 monthly fee for new members will now be $15 per month, effective this summer.
The "classic" membership plan gives members access to only one location.
Planet Fitness also offers a $25 monthly "Black Club" membership plan with more location access and additional perks which to me works great. I'm also a Planet Fitness member (although I sometimes attend other gyms), and it allows me to attend various locations on the "Black Card" membership. Depending on the hours they are open (each one varies), I can go to another location and I'm also able to take my son with me as a guest.
Planet Fitness says they are not increasing the $25.00 a month plan, but executives have mentioned that they may begin testing higher prices for that one. Hopefully, they won't raise the amount.
Planet Fitness has not specified why it is raising the fee for the "classic" membership plan by 50%, which is the first time since 1998. However, the increase comes as higher interest rates and construction costs have slowed down new gym openings.
Planet Fitness aims to keep its costs low by offering no-frills gyms that have a basic selection of machines and do not have steam rooms or towels in the locker room.
The gym chain's business model is known in the fitness industry as high volume, low price or "HVLP". Higher costs could threaten this model more so than luxury gyms.
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