Planet Fitness
A Planet Fitness location in Ypsilanti Township, Michigan in April 2010.
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| Planet Fitness | |
| Public | |
| Traded as | : PLNT |
| Industry | Health club |
| Founded | 1992 |
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Number of locations
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over 1,300 |
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Key people
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Chris Rondeau (CEO) |
| Website | www |
PFIP LLC (doing business as Planet Fitness) is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. The company reports that it has more than 1,300 clubs, making it one of the largest fitness club franchises by number of members and locations. It markets itself as a "Judgement Free Zone" that caters to novice and casual gym users and is reported to be the nation’s fastest growing fitness center franchise.
Planet Fitness was founded in 1992, in Dover, NH, when Michael and Marc Grondahl acquired a financially struggling gym and dramatically reduced prices to compete against better-known brands. This low-cost business model focuses on the needs of occasional or first-time health club members, rather than more experienced members.
In 1993, the Grondahl brothers hired Chris Rondeau, Planet Fitness’ current CEO, to work the front desk. Rondeau and the Grondahls recognized that there was a greater opportunity to serve a much larger segment of the population if they changed the gym environment, both in attitude and format, by creating a non-intimidating, low-cost model. Planet Fitness then became known as the “Judgement Free Zone,” aimed more at the average user than the bodybuilder type of fitness enthusiast.
In 2003, Planet Fitness opened its first franchised location in Florida, with Eric Dore and Shane McGuiness.
In February 2016, the franchise was added to the Franchise Times "Fast and Serious" list of top franchises (#1), and in its 2016 ranking of franchises, Forbes magazine ranked Planet Fitness #4 It ranked in the top 50 of the Entrepreneur magazine Franchise 500 in 2017.
In the fall of 2013, TSG Consumer Partners LLC became an equity partner in the Planet Fitness franchise. Michael Grondahl, co-founder of Planet Fitness stepped down as CEO, and was succeeded by Chris Rondeau.
The company reports that as of 2017, there are 58 corporate-owned gyms, the rest independently owned and operated.
The club's two membership levels are $10 and $19.99 per month: the $10 per month level includes access to cardio and strength equipment, unlimited group fitness instruction and pizza and bagels once a month; the $19.99 per month (“Black Card”) level allows members to bring one guest per day at no charge, access to all Planet Fitness locations, and access to extra amenities, such as tanning booths and massage chairs.
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