As inflation continues to affect the daily lives of Americans, it seems as if no sector is safe from rising prices.

That's certainly the case for popular fitness chain Planet Fitness, which announced this week that it will raise membership prices for the first time in nearly 30 years.

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The gym chain will raise its classic monthly membership to $15, a $5 increase. Its classic membership has traditionally been $10 since 1998.

The price increase starts this summer and applies to new members only.

“Only new members who joined after it goes into effect will pay $15 for a monthly membership fee,” Planet Fitness CFO Thomas Fitzgerald said in Q1 2024. call earnings Thursday. “Current Classic Card members will continue to pay $10 for the duration of their membership.”

A Classic Card gym membership allows members access to a specific Planet Fitness location, while a Black Card membership gives them all access to clubs across the country. The latter costs $25 per month.

Fitzgerald told analysts that the chain had “three different sets of stores testing three different prices for our Classic Card membership” over several months and chose the $15 price based on those results.

Planet Fitness had a strong one Q1 2024, with revenue growth of 11.6% year-over-year and a total membership of 19.6 million members.

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“We continue to be a highly attractive franchise system that generates strong and stable cash flows for sustainable long-term growth and increased shareholder value,” Fitzgerald said.

Planet Fitness will welcome its new CEO, Colleen Keating, on June 10.

Fitness chain was down up 7.4% year over year as of Friday morning.