Planet Fitness, known for its budget-friendly $10-a-month membership plan, is making a change for the first time in 26 years. The gym chain has announced that it will be raising the price of its “classic” membership to $15 per month for new members starting in the summer.
The decision to increase the price comes as Planet Fitness faces challenges from higher interest rates and construction costs, which have slowed down new gym openings. The $10 membership has been a key part of the company’s marketing strategy, attracting new members who may feel overwhelmed by traditional gyms or cannot afford more expensive options.
Despite concerns about inflation and price hikes, Planet Fitness executives are confident that the increase will not deter customers. They believe that consumers have become accustomed to price changes in various industries and that the brand’s focus on promoting fitness will continue to attract members.
The $10 membership has become synonymous with Planet Fitness and has helped the chain stand out in the competitive gym industry. While some loyal customers may be disappointed by the price increase, the company hopes that the continued value and convenience of its facilities will outweigh any concerns.
Overall, Planet Fitness remains committed to providing affordable and accessible fitness options for its members. With the price increase on the horizon, the gym chain is looking to adapt to the changing landscape of the industry while continuing to prioritize the health and well-being of its customers.
