Know the Reason Behind Planet Fitness's 30-year history of not Raising its $10 Monthly Gym Fee

Los Angeles: The giant gym trainer in the USA Planet Fitness has increased a $10 monthly for its members recently to execute powerful marketing making it a central part of its strategy. However, the fitness center has increased its price in more than two decades.

As said by officials this hiking is done in its base-level membership prices as the customers are growing increasingly. While the membership prices for its classic card members will be $15 per month which was earlier $10 per month.

Also as the officials said, the gym is going to test for its Black Cards which are currently priced at $24.99 per month they are facilitated to bring guests to any location and also can avail of other perks.

CEO of the Fitness Gym, Craig Benson said "It is not going to come as a shock to anybody that we are moving a price that's been in effect for a long, long time, 25 years".
The largest Gym chain in the USA has hiked the cost in two decades from the first time and announced it will likely increase the price for classic membership.
Also, he added, "We think it's the right time to Planet Fitness Price Increase". Again he added, "We are also considering revising the prices of Black cards which may change probably or not".

The Chief financial officer of the company Tom Fitzerland added "It will take some time for the benefit of the price change to expand our store level margins as the price increase will only be on new classic card membership". He added the price has been revised after months of testing in several markets throughout the country. He again said the company is likely to hike prices for its VIP membership known as Black Card this summer. The black card membership allows customers to visit any Planet Fitness location and access its digital content along with other benefits for a starting price of about $24.99 per month.

The final decision of Planet Fitness Price Increase was taken by the officials after the weaker performance of the gym in the first quarter revenue as expected and also they released the guidelines for the current fiscal year. On the contrary, the rival gym "Life Time Holdings" has posted better than expected results and noticed remarkable growth in its membership in the first quarter.

However, the senior executive of Planet Fitness did not clarify the reason behind this price hike of about 50% for the first time in 30 years, since it is serving the people of the USA. Established in 1998, the Planet Fitness price hike might be due to the higher interest rates and construction costs that have slowed down the opening of the new branches of the gym. It does not have a no-frills gym, with a basic selection of machines, no steam rooms, or towels in the locker rooms that can raise the price of the gym fees.

The rivals have raised the price of the gym after the COVID-19 pandemic. Only Planet Fitness is the gym that adhered to its initial price of $10 fee. The former CEO of Planet Fitness told CNN "It's a 'get you off the couch' price."
Conclusion
In addition, Planet Fitness has served the country for longer years at this price, even in the COVID-19 pandemic when around 25% of the gyms in the USA shut down. Several major players in the gym like "24 Hour Fitness" and "Gold Gym" reached bankruptcy.

Henceforth, Planet Fitness has hiked the price after two decades in 2024. For more detailed info you must visit the website Onewebinc.com once.

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This release was published on openPR.