Planet Fitness etc.,

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unclescrooge
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Re: Planet Fitness etc.,

Post by unclescrooge »

smitcat wrote: Tue Nov 13, 2018 8:33 am
unclescrooge wrote: Mon Nov 12, 2018 10:52 am
randomguy wrote: Sun Nov 11, 2018 4:57 pm
unclescrooge wrote: Sun Nov 11, 2018 4:28 pm
randomguy wrote: Sun Nov 11, 2018 3:18 pm I have a feeling most of them are buying a job from the few numbers I have seen.
Have you seen a franchise that isn't like buying a job?

I looked at this a few years ago and after a few months of t taking to 30+ owners across 4 different business lines, I gave up. They all seemed to be buying a job... Great if you're not a white collar worker pulling in 6 figures at a cushy job already.
The ones where you own 50 franchises locations. Granted I guess then you are just buying yourself a CEO job versus a manager one:)
That makes sense... So how does one get to double digits locations?
Do you slog it out for 20 years?
Or do you start with a lot of money?
One location near us is about $1 million in construction buildout plus another $1 million in fitting it out.
$2 million does not include a whole bunch of stuff and allow for cash flow needs.
Either you have it or you borrow a large portion then just multiply by the number of centers you want.
Wow, seems like you need to work 20 years to get the finances ready for the first one, and then another 20 years to get to double digits!
Dantes
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Re: Planet Fitness etc.,

Post by Dantes »

unclescrooge wrote: Tue Nov 13, 2018 9:20 am
Dantes wrote: Tue Nov 13, 2018 6:19 am
PinotGris wrote: Mon Nov 12, 2018 8:06 pm
Dontwasteit wrote: Mon Nov 12, 2018 5:50 pm My PF hardly has any free weights/ dumbbells. Good for cardio workout. Truthfully I rarely go anymore. Mine gives free bagels and donuts. Never quite understood that, I guess for carbs but gee, how about maybe a glass of carrot juice instead.
The bagels and pizza only once a month but I never eat them just because they are free. Other than the fact that zany PF electronics don’t work it is clean, has free weights and floor space.
This sums it up nicely. PF is convenient, clean, has enough equipment for our purposes, and pleasant staff. The pizza and bagels seem odd to me, too, but there is no law that we have to eat them just because they are free. My minor complaints are the music (so I wear earphones) and no rowing machines.

There was a day last week when the audio system was not working, and that was nice. I assume they make money out of the playlist though the target demographics for the music appear closer to the staff than to the members.
Usually you have to pay to play music in a commercial venue. It is definitely not a money maker.
You mean the music was chosen by someone because they thought people would like it? Man, I'm out of touch.
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legio XX
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Re: Planet Fitness etc.,

Post by legio XX »

I am reviving this old thread because my PT is (still) bugging me to get to the gym. There are some "recommended" exercises that are just easier with a machine. I really should get on it. I had reasonably-priced access to a uni gym before Covid, but the current restrictions leave us "associates" out of the loop. OK.

So, I did my due diligence and looked for a place to do a simple, basic workout. Quickly remembered that gyms are a kinda shady business.

Close to home, E'nox wanted "official" ID before setting up an "appointment" with a whatever "specialist." And the kids at the desk were not wearing masks, as legally required. I left.

NY Sports/Fitness looked kind of run down - OK for a nearly free city-run gym, but not if I have to pay for it. Much more pleasant young person at the desk tho.

A bit further away, but not hard to get to:

Blink - I practically had to arm wrestle the kid(s) - they tag-teamed me when I didn't let #1 avoid answering questions - to get a useful explanation of the price, fee(s), etc. Ex: They say that cancelling membership has a "pro-rated fee blah-blah-blah." Translation: the gym get an additional month's membership from you when you cancel. I felt mean doing it, but I carefully explained the meaning of pro rata. :twisted: They may be hoping I won't come back. Equipment, cleanliness and noise level OK, but this kind of weaseling doesn't exactly build trust. They insist, of course, on taking fees from my CC automatically so I would have to read the fine print very carefully and wouldn't be surprised if they couldn't actually print out anything ...

Planet F - Equipment, cleanliness and noise level OK, and the up-front prices are very cheap, but they insist on - no wiggle room here - access to my checking acc't. Non sequitur of the month - "They don't take anything from your bank account; it's just for billing." This sent me running.

So --> what are the dangers of letting a gym have checking acc't info/access? Is there any way I should consider doing this? Precautions I could take? Potential problems I might not even think of?

Anyone have experience with either of these gyms?
prairieman
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Re: Planet Fitness etc.,

Post by prairieman »

PinotGris wrote: Sat Nov 10, 2018 6:53 pm
jacksonm wrote: Sat Nov 10, 2018 4:32 pm Given the price I wouldn't expect PF to be much more than the McDonald's of gyms.

Before I switched to PF I was paying $30/month at Anytime Fitness. PF was $10 at the time.

I always thought PF had latched onto a pretty good business model. As usually happens with gym memberships you start to ask yourself if it's really worth it, especially at times when you aren't going very often. You probably aren't as likely to cancel during those times when you are only paying $10. So my guess is they get a lot of steady income from people who aren't really putting much wear and tear on the equipment.

Eventually I decided that it was a waste of money even at $10. I do my exercise outdoors now, either cycling, running, or just going for walks. And as far as resistance training, I can get all I need with a $5 theraband.
I walk now but it get cold and icy in winter where I live. So I use PF When the weather gets bad. It take me 10 minutes to get there but there are others at the same distance. I will try out a few - free trial.
I found I can stay fit by just walking while listening to Audible books, free podcasts, or Pandora. If weather sucks, I go to a large indoor mall and walk there. With good headphones I don’t even hear all the annoying things at a mall.
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Stinky
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Re: Planet Fitness etc.,

Post by Stinky »

legio XX wrote: Sun Oct 17, 2021 8:46 am
Planet F - Equipment, cleanliness and noise level OK, and the up-front prices are very cheap, but they insist on - no wiggle room here - access to my checking acc't. Non sequitur of the month - "They don't take anything from your bank account; it's just for billing." This sent me running.

So --> what are the dangers of letting a gym have checking acc't info/access? Is there any way I should consider doing this? Precautions I could take? Potential problems I might not even think of?

Anyone have experience with either of these gyms?
My local Planet Fitness charges my credit card each month. They don't have my bank information.
Retired life insurance company financial executive who sincerely believes that ”It’s a GREAT day to be alive!”
Pacman
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Re: Planet Fitness etc.,

Post by Pacman »

prairieman wrote: Sun Oct 17, 2021 11:56 am
PinotGris wrote: Sat Nov 10, 2018 6:53 pm
jacksonm wrote: Sat Nov 10, 2018 4:32 pm Given the price I wouldn't expect PF to be much more than the McDonald's of gyms.

Before I switched to PF I was paying $30/month at Anytime Fitness. PF was $10 at the time.

I always thought PF had latched onto a pretty good business model. As usually happens with gym memberships you start to ask yourself if it's really worth it, especially at times when you aren't going very often. You probably aren't as likely to cancel during those times when you are only paying $10. So my guess is they get a lot of steady income from people who aren't really putting much wear and tear on the equipment.

Eventually I decided that it was a waste of money even at $10. I do my exercise outdoors now, either cycling, running, or just going for walks. And as far as resistance training, I can get all I need with a $5 theraband.
I walk now but it get cold and icy in winter where I live. So I use PF When the weather gets bad. It take me 10 minutes to get there but there are others at the same distance. I will try out a few - free trial.
I found I can stay fit by just walking while listening to Audible books, free podcasts, or Pandora. If weather sucks, I go to a large indoor mall and walk there. With good headphones I don’t even hear all the annoying things at a mall.
Not a bad idea on getting some walking done at the mall, especially in the winter. And once your walking shoes run out of tread, you can just pick up a new pair during a walk!
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legio XX
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Re: Planet Fitness etc.,

Post by legio XX »

prairieman wrote: Sun Oct 17, 2021 11:56 am I found I can stay fit by just walking while listening to Audible books, free podcasts, or Pandora. If weather sucks, I go to a large indoor mall and walk there. With good headphones I don’t even hear all the annoying things at a mall.
That's just what I want to avoid. For basic fitness there are beautiful parks to walk in, and weather has to be pretty crappy before Central Park and Riverside Park empty out. I'm spending time and money on PT so that I can keep up with much more age inappropriate, strenuous and fun exercise, and the PTs have said, "Go to the gym . . . ." I just don't want to add financial aggravation to physical pain.
Stinky wrote: Sun Oct 17, 2021 1:05 pm My local Planet Fitness charges my credit card each month. They don't have my bank information.
If mine would do that, I'd be there now . . . will keep looking.
tibbitts
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Re: Planet Fitness etc.,

Post by tibbitts »

Stinky wrote: Sun Oct 17, 2021 1:05 pm
My local Planet Fitness charges my credit card each month. They don't have my bank information.
Would there be concern about them having your bank information, or are you just wanting the points/miles/etc.?
smitcat
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Re: Planet Fitness etc.,

Post by smitcat »

Stinky wrote: Sun Oct 17, 2021 1:05 pm
legio XX wrote: Sun Oct 17, 2021 8:46 am
Planet F - Equipment, cleanliness and noise level OK, and the up-front prices are very cheap, but they insist on - no wiggle room here - access to my checking acc't. Non sequitur of the month - "They don't take anything from your bank account; it's just for billing." This sent me running.

So --> what are the dangers of letting a gym have checking acc't info/access? Is there any way I should consider doing this? Precautions I could take? Potential problems I might not even think of?

Anyone have experience with either of these gyms?
My local Planet Fitness charges my credit card each month. They don't have my bank information.
Similarly Planet Fitness near us can use a CC - but my daughter would have been OK with the checking account as well.
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Stinky
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Re: Planet Fitness etc.,

Post by Stinky »

tibbitts wrote: Sun Oct 17, 2021 2:21 pm
Stinky wrote: Sun Oct 17, 2021 1:05 pm
My local Planet Fitness charges my credit card each month. They don't have my bank information.
Would there be concern about them having your bank information, or are you just wanting the points/miles/etc.?
I personally wouldn’t care if they had my bank information.

But my Citi DoubleCash card earns a 2% rebate. So that’s $0.24 per month of cash back, straight to my bottom line!
Retired life insurance company financial executive who sincerely believes that ”It’s a GREAT day to be alive!”
tibbitts
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Re: Planet Fitness etc.,

Post by tibbitts »

Stinky wrote: Sun Oct 17, 2021 2:33 pm
tibbitts wrote: Sun Oct 17, 2021 2:21 pm
Stinky wrote: Sun Oct 17, 2021 1:05 pm
My local Planet Fitness charges my credit card each month. They don't have my bank information.
Would there be concern about them having your bank information, or are you just wanting the points/miles/etc.?
I personally wouldn’t care if they had my bank information.

But my Citi DoubleCash card earns a 2% rebate. So that’s $0.24 per month of cash back, straight to my bottom line!
Agreed, it's always beneficial to use a card when you can.
runninginvestor
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Re: Planet Fitness etc.,

Post by runninginvestor »

tibbitts wrote: Sun Oct 17, 2021 5:26 pm
Stinky wrote: Sun Oct 17, 2021 2:33 pm
tibbitts wrote: Sun Oct 17, 2021 2:21 pm
Stinky wrote: Sun Oct 17, 2021 1:05 pm
My local Planet Fitness charges my credit card each month. They don't have my bank information.
Would there be concern about them having your bank information, or are you just wanting the points/miles/etc.?
I personally wouldn’t care if they had my bank information.

But my Citi DoubleCash card earns a 2% rebate. So that’s $0.24 per month of cash back, straight to my bottom line!
Agreed, it's always beneficial to use a card when you can.
I agree that Card for recurring transactions is better. Better protection in case account information is hacked and easier to dispute charges if the fitness club decides they want to drag their feet on cancelling payments.
YeahBuddy
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Re: Planet Fitness etc.,

Post by YeahBuddy »

PinotGris wrote: Sat Nov 10, 2018 11:27 am My renewal with PF is coming up. I have always liked it because my routines are simple - 20 mts on elliptical, free weights, some yoga and other floor exercises, and I am out of there in an hour. I don't do classes so no problems.
But lately I find their electronic inputs are mostly broken and they are not fixing them. I catch up on the news and listen to podcast and it is important for me. I am thinking about switching, but in most places I am paying for juice bars and classes which I don't plan on using.
Are you a PF member? How is your facility? Are you switching?

20+ year gym goer here.

No, I'm not a PF member. I'm a member of a local gym that used to be affiliated with Gold's. They left the Gold's affiliation due to high costs to be affiliated about 15 years ago. They are good. Lots of cardio equipment, free weights, a basketball court, cross fit stuff, classes, locker rooms, steam room, sauna, other rooms for other activities I don't care about... All for $25/month.

My work pays for about 6 months membership.

There's a few local places that are $100 - $300+ a month with juice bars etc. Juice bars do nothing besides reduce calories if you substitute a meal for their juice drink. It's a scam in my opinion.

My best advice is to check out all local places and find the one that best fits your needs.

Good luck ! :D
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afan
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Re: Planet Fitness etc.,

Post by afan »

Mall walking may be a nice activity but for many people it would not compare to the workout they would get at a gym.

I have never been to a PF. I gather they do not have weights suitable for anyone who is serious about lifting. What about cardio for someone who wants a hard workout? If someone who only wanted cardio found a convenient location, would that work for them?
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Carguy85
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Re: Planet Fitness etc.,

Post by Carguy85 »

Make sure u plan accordingly on pizza and bagel day to take full advantage of the membership. I think they also give out free candy. :D
808
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Re: Planet Fitness etc.,

Post by 808 »

legio XX wrote: Sun Oct 17, 2021 8:46 am So --> what are the dangers of letting a gym have checking acc't info/access? Is there any way I should consider doing this? Precautions I could take? Potential problems I might not even think of?

Anyone have experience with either of these gyms?
You could use a separate "checking" account or something like Fidelity's CMA. Once a year, or so, transfer an amount that covers the monthly fees. Once you end your membership, just close the account or, in the Fidelity's CMA case, leave it with $0.
MDfan
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Re: Planet Fitness etc.,

Post by MDfan »

PF around here is complete garbage. Dirty, broken equipment, etc. I pay more than double for LA Fitness but it is well worth it. And I have my Hydrow at home.
Last edited by MDfan on Sat Oct 23, 2021 6:05 am, edited 1 time in total.
Bbddl
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Re: Planet Fitness etc.,

Post by Bbddl »

For the low cost and ability to visit different locations, PF works for me.
The over 40-50ish age group doesn't need to compete with the kids at other gyms. I'll be 61 next month and use PF no more than 2-3 times a week for occasional strength/endurance training. I'm on the ice at hockey 2-3 days a week playing with old friends and new acquaintances at 6am. The hockey keeps my cardio very strong.
Good luck
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legio XX
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Re: Planet Fitness etc.,

Post by legio XX »

I decided to go to the Y. Was originally reluctant because they required a year's commitment, but three different people (and yes, I recorded their names) assured me I could cancel without hassle. I think they need current income since the usually active space was very quiet. The Y's monthly fee is a lot higher than PF or Blink but a downright bargain compared to Equinox - and way more equipment than I need for a simple set of PT exercises - so the trust factor was determining.

My thinking was that not having to worry about access to a bank account or hassles to end credit card auto-payments was worth the cost. [Yes, it's true that anyone I ever sent a check to has the routing info, but from the bank's viewpoint that is a different situation from one where I gave a merchant access and the deeply-hidden fine print says a bunch of things I didn't know about. One is an action by a criminal that requires the appropriate response. The other is something they can say was my fault because I didn't find the traps. The fact that I had to repeat questions to try to get a clear picture is a pretty good hint that there are traps.]

We'll see how it works out. I am really glad to be able to tell my PT that I got with the program, finally. Thank you all for the suggestions.
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Stinky
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Re: Planet Fitness etc.,

Post by Stinky »

MDfan wrote: Sat Oct 23, 2021 6:04 am PF around here is complete garbage. Dirty, broken equipment, etc. I pay more than double for LA Fitness but it is well worth it. And I have my Hydrow at home.
Interesting you say that, since my experience is the exact opposite.

My PF is closing for three days starting tomorrow to replace every piece of equipment with new stuff. And the location has been open for well less than 10 years.
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JackoC
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Re: Planet Fitness etc.,

Post by JackoC »

RickBoglehead wrote: Sun Nov 11, 2018 8:20 am
StopIroningShirts wrote: Sun Nov 11, 2018 5:14 am I get their model, but don't see how $10/mo is sustainable. I know what you're saying about the $45/mo gym including the pool. Company is public so I can see the earnings, but would have to examine it a lot further for franchisee vs. company owned stores.

If their goal is to squeeze out some competitors and get their price point up to $20 - I'd invest in that.

Just my opinion, I could be wrong
Like most gym memberships, the profit is in the non-use. People sign up for $10 a month, go for a few weeks, then stop going. $10 a month keeps hitting their checking account (PF resists using a charge card but you can). The number of people that pay $10 a month and never go is large.

Many PF's are located in plaza's where stores when bankrupt and vacated. Landlords are happy for a tenant and give good rates.

I wouldn't invest in one.

The quality of any PF depends on the owner of the franchise. I belonged to one at one point, and had to constantly point out things that were broken. Or a locker room that needed more cleaning.
Yeah the one I go to has been a PF location for several years now* and it a franchise model. I don't think many small entrepreneurs have the staying power to lose money for that long in pursuit of a franchiser's goal of 'cornering the market' nor is it likely the franchiser would pay them operating subsidies. The one I go to took on a few years empty location* but it's a high rent area and I'm sure still high by national standards. But I think it's what you say and is the conventional wisdom of PF's business model: charge low enough to drive up the proportion of people who join, stop coming often, but don't bother to cancel as they'd more likely do if it were $40, $70 etc. Ours is well maintained though also heavily used, I'm fortunate to be able to pick my time where it's not annoyingly crowded.

*previously the same location was outlet of a small local gym chain I belonged to for years, owner bankrupted it with an expensive drug habit rumor says, storefront was empty for a couple of years during which I had to pay much more, then a PF franchisee opened it back up.
stoptothink
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Re: Planet Fitness etc.,

Post by stoptothink »

Carguy85 wrote: Mon Oct 18, 2021 7:07 pm Make sure u plan accordingly on pizza and bagel day to take full advantage of the membership. I think they also give out free candy. :D
They do have an "interesting" philosophy when it comes to health and physical fitness. Just make sure not to work out too hard and risk getting kicked out. A lot of funny youtube videos out there of PF patrons getting kicked out for lifting too heavy, etc.
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CardinalRule
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Re: Planet Fitness etc.,

Post by CardinalRule »

Stinky wrote: Sat Oct 23, 2021 8:51 am
MDfan wrote: Sat Oct 23, 2021 6:04 am PF around here is complete garbage. Dirty, broken equipment, etc. I pay more than double for LA Fitness but it is well worth it. And I have my Hydrow at home.
Interesting you say that, since my experience is the exact opposite.

My PF is closing for three days starting tomorrow to replace every piece of equipment with new stuff. And the location has been open for well less than 10 years.
It must really vary by franchisee, as PF has relatively few company-owned locations. I doubt if they exercise McDonalds-like control. According to the most recent Form 10-K lots more PFs are coming: :shock:

In 2020, we recorded revenues of $406.6 million and system-wide sales of $2.4 billion (which we define as monthly dues and annual fees billed by us and our franchisees). We ended the year with approximately 13.5 million members and 2,124 stores in all 50 states, the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia. System-wide sales for 2020 include $2.3 billion attributable to franchisee-owned stores, from which we generate royalty revenue, and $116.5 million attributable to our corporate-owned stores. Of our 2,124 stores, 2,021 are franchised and 103 are corporate-owned. Under signed area development agreements (“ADAs”) as of December 31, 2020, our franchisees have committed to open more than 1,000 additional stores.

Our nearest 24 Hour Fitness location closed last year - one of many shuttered across the country as part of the company's bankruptcy proceedings. 24 Hour is in the middle range of fitness centers, and it appears they have been squeezed between places like PF, at the low end, and the fancier clubs that exist in many urban areas. DW canceled her 24 Hour Fitness membership and joined PF; she is reasonably happy with the nearby, relatively new PF that she goes to, so far. I kept my 24 Hour membership and now travel about 9 miles away to a "Supersport" location. That location is big and well-maintained, but I miss the smaller, closer 24 Hour Fitness "Sport" gym that we used to go to (about 2 miles away from where I live).
40 Years' Gatherin's
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Re: Planet Fitness etc.,

Post by 40 Years' Gatherin's »

MDfan wrote: Sat Oct 23, 2021 6:04 am PF around here is complete garbage. Dirty, broken equipment, etc. I pay more than double for LA Fitness but it is well worth it. And I have my Hydrow at home.
My experience is the complete opposite. My PF is clean and all the equipment is nearly like-new. LA Fitness sounds like a gym for posers.
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topper1296
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Re: Planet Fitness etc.,

Post by topper1296 »

40 Years' Gatherin's wrote: Sat Oct 23, 2021 6:03 pm
MDfan wrote: Sat Oct 23, 2021 6:04 am PF around here is complete garbage. Dirty, broken equipment, etc. I pay more than double for LA Fitness but it is well worth it. And I have my Hydrow at home.
My experience is the complete opposite. My PF is clean and all the equipment is nearly like-new. LA Fitness sounds like a gym for posers.
The PF I go to in Nashville will be shutting down a few days in a couple days to replace all of the equipment with new stuff. My biggest complaint is finding an open rack or bench to use because it's so busy.
Last edited by topper1296 on Sun Oct 24, 2021 3:18 pm, edited 1 time in total.
40 Years' Gatherin's
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Re: Planet Fitness etc.,

Post by 40 Years' Gatherin's »

topper1296 wrote: Sat Oct 23, 2021 6:16 pm
40 Years' Gatherin's wrote: Sat Oct 23, 2021 6:03 pm
MDfan wrote: Sat Oct 23, 2021 6:04 am PF around here is complete garbage. Dirty, broken equipment, etc. I pay more than double for LA Fitness but it is well worth it. And I have my Hydrow at home.
My experience is the complete opposite. My PF is clean and all the equipment is nearly like-new. LA Fitness sounds like a gym for posers.
The PF I go to in Nashville will be shutting down a few days in a couple days to replace off the equipment with new stuff. My biggest complaint is find an open rack or bench to use because it's so busy.
I will say, if you're a serious weight-lifter, PF might not be the best gym to join. For those who want a good treadmill or step-mill, such as myself, PF is just about perfect!
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Re: Planet Fitness etc.,

Post by snackdog »

PF is really hard to beat, unless you want classes or swimming. Ours is new, huge and rarely busy. Great machines, free weights, spotlessly clean, etc. It is ten minutes from home, $10/month, no contract. It is a killer deal. My spouse is a black member so we have used PF on vacation together at no cost - Maui, Chicago, SF - all great gyms.
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CardinalRule
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Re: Planet Fitness etc.,

Post by CardinalRule »

snackdog wrote: Sun Oct 24, 2021 8:22 am PF is really hard to beat, unless you want classes or swimming. Ours is new, huge and rarely busy. Great machines, free weights, spotlessly clean, etc. It is ten minutes from home, $10/month, no contract. It is a killer deal. My spouse is a black member so we have used PF on vacation together at no cost - Maui, Chicago, SF - all great gyms.
My spouse also got charged $39, I believe, for an annual membership fee. Not sure if that is standard, or if it varies by PF franchisee.
MDfan
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Re: Planet Fitness etc.,

Post by MDfan »

40 Years' Gatherin's wrote: Sat Oct 23, 2021 6:03 pm
MDfan wrote: Sat Oct 23, 2021 6:04 am PF around here is complete garbage. Dirty, broken equipment, etc. I pay more than double for LA Fitness but it is well worth it. And I have my Hydrow at home.
My experience is the complete opposite. My PF is clean and all the equipment is nearly like-new. LA Fitness sounds like a gym for posers.
Yes, I’m a 60-year old poser. at LA Fitness. I also play racquetball and basketball there while I’m posing. I especially like posing while using the clean and actually working fitness equipment.
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