Planet Fitness

Planet Fitness, Inc. (NYSE: PLNT) is one of the largest and fastest-growing franchisors and operators of fitness centers in the US. Founded in 1992 in Dover, New Hampshire, Planet Fitness went public in 2015. The company is known for its low-cost membership model and "Judgement Free Zone" philosophy aimed at creating a non-intimidating gym environment, particularly for first-time and casual gym users.

Planet Fitness offers a range of fitness equipment and services across its locations:

• Cardio and strength training equipment

• 30-minute express circuit workout area

• Free fitness training through its pe@pf program

• Locker rooms and showers

• Black Card Spa area for premium members, featuring tanning, massage chairs, and HydroMassage beds

• Mobile app with digital workouts and other features

As of June 2024, Planet Fitness had approximately 19.7 million members and 2,617 locations across all 50 US states, Puerto Rico, Canada, Panama, Mexico and Australia. Over 90% of Planet Fitness gyms are owned and operated by franchisees. The company generates revenue through franchise royalties, equipment sales to franchisees, and revenues from corporate-owned stores.

Planet Fitness reported total revenue of USD 1.1 billion for fiscal year 2023, an increase of 14.4% from the previous year. The company opened 165 new locations in 2023. In June 2024, Planet Fitness completed an USD 800 million debt refinancing and executed a USD 280 million accelerated share repurchase program. The company is focused on continued expansion, with plans to grow to 5,000 total locations in the US