Planet Fitness to raise $10 monthly membership for first time in 26 years

The price of membership at Planet Fitness is going up for new members.

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The $10 classic membership will be increased to $15 for new members, CNN reported. This is the first time the price has gone up since 1998.

The increase will begin this summer and give people access to one location. The company’s Black Club allows people to access several locations and adds other perks to the memberships at a cost of $24.99 a month, CNBC reported.

Current classic members will continue to pay the $10 monthly fee, CBS News reported. The new price is for new members.

The company didn’t say why the cost was rising, but it touts itself as no frills, with basic machines and no towels in locker rooms, CNN reported. It also has a model that appeals to people who want to work out but are intimidated by pricier gyms or who can’t afford those companies’ prices, which can be $50 or more a month.

The 50% price increase comes at a time when the cost of living has gone up across the board. It also comes when people are trying to save money and after the COVID-19 pandemic, CBS News reported.

Planet Fitness’ interim CEO Crage Benson believes that the members shouldn’t be shocked by the move.

“We’ve seen in every industry people move in price,” Benson said, according to CNN. “So, 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.”

The company came up with the new $15 rate after testing costs in several markets and will perform similar tests for the Black Club membership, CBS News reported.

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