Planet Fitness

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PFIP, LLC

A Planet Fitness location in Cincinnati, Ohio

Trade name Planet Fitness

Type Public

Traded as NYSE: PLNT (Class A)
Russell 2000 Component

Industry Fitness

Founded 1992; 29 years ago

Founders Michael Grondahl

Marc Grondahl

Number of locations 2,039[1]

Area served North America

 Key people Chris Rondeau (CEO)

Website www.planetfitness.com

Planet Fitness (PFIP LLC) is an American franchisor and operator of fitness

centers based in Hampton, New Hampshire.[2] The company reports that it has 2,039
clubs,[1] making it one of the largest fitness club franchises by number of members
and locations. There are locations across the United States as well as in other
countries such as Canada, Dominican Republic, Panama, and Mexico. In 2019 the
franchise expanded to Australia.[3] It markets itself as a "Judgment Free Zone" that
caters to novice and casual gym users and is reported to be the nation’s fastest
growing fitness center franchise.[4]

Contents

 1History

 2Statistics and international expansion

 3Sponsorships

 4References

 5External links

History[edit]

A Planet Fitness location in Revere, Massachusetts in November 2012

Planet Fitness locations in the United States

In 1992, Michael and Marc Grondahl acquired a struggling Gold's Gym franchise
in Dover, New Hampshire.[5] They closed that original location, and in 1993 they
opened a new location named Coastal Fitness. They brought on a third partner,
current CEO Chris Rondeau,[6] and in 1994 they changed their name to Planet
Fitness.[7]
Michael Grondahl bought the Planet Fitness trademark from Rick Berks in 2002.
[8]
 Rick Berks had started his own Planet Fitness gym in 1993 in Sunrise, Florida, and
eventually expanded it to three clubs. [9] A former Broward Sheriff’s Office detective,
he owned and operated a Gold's Gym franchise.[9][10] Berks had been catering to the
bodybuilding culture in his Gold’s Gym. “I decided I didn’t want to deal with that
crowd, so that’s when I opened the original Planet Fitness club in Sunrise, Florida, in
1993.” The name came from his daughter’s school project, “Fitness Planet.” [11] The
new model was an effort to provide a fitness hub for everyday people. [8] Berks later
went on to open the first Youfit Health Club in St. Petersburg, Florida.[12]
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. [13] Planet
Fitness became known as the "Judgement Free Zone," aimed more at the average
user than the bodybuilder type of fitness enthusiast. [14] They also dramatically
reduced prices to compete against better-known brands. [15] This low-cost business
model focuses on the needs of occasional or first-time health club members, rather
than more experienced members,[4] and depends on many members rarely showing
up.[16] According to a Planet Money episode from 2014, "half of the Planet Fitness
members don't ever go to their gyms."[17]
As part of their effort to create a non-intimidating environment, Planet Fitness has
alienated many serious weight lifters.[18] Some bodybuilders and weight lifters have
found the way they're portrayed in Planet Fitness TV commercials to be offensive,
and the way they're treated in Planet Fitness gyms to be "quite possibly
discriminatory."[18] Planet Fitness has been criticized for prohibiting certain
weightlifting exercises–such as deadlifts and clean-and-jerks–that many experts
believe are highly effective.[19] In 2010, Men's Health magazine called Planet Fitness
"the worst gym in America."[19]
As early as March 2015, the "Judgement Free Zone" policy has been expanded to
allow trans women to use the women's locker room. The policy states that "members
and guests may use all gym facilities based on their sincere self-reported gender
identity."[20]
In 2003, Planet Fitness opened its first franchised location in Florida, with Eric Dore
and Shane McGuiness.[14]
In the fall of 2013, TSG Consumer Partners LLC became an equity partner in the
Planet Fitness franchise.[21] Michael Grondahl, co-founder of Planet Fitness stepped
down as CEO, and was succeeded by Chris Rondeau.[22][23] The company went public
on August 6, 2015.[24]
In February 2016, the franchise was added to the Franchise Times' "Fast and
Serious" list of top franchises (#1),[13] and in its 2016 ranking of
franchises, Forbes magazine ranked Planet Fitness #4.[25] It ranked in the top 50
of Entrepreneur magazine's Franchise 500 in 2017.[26]
In 2020, the company received criticism for charging its customers for March dues
"despite closing its facilities nationwide due to the novel coronavirus
pandemic."[27] They stated that they were unable to stop the pre-scheduled payments
on short notice, but would not charge future monthly dues until they reopen, and
would also provide a credit for closed days previously paid for. [28]
Statistics and international expansion [edit]
The company reports that as of 2019, there are 80 corporate-owned gyms, the rest
independently owned and operated. [29]
The club's two membership levels are $10 and $22.99 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 $22.99 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, massage
chairs, red light therapy and water massage beds.[30][26]
In December 2014, Planet Fitness opened its first international location
in Toronto, Ontario, Canada. The second Toronto location opened in early 2015. [31]
[32]
 In October 2015 the company opened their second international location in Santo
Domingo, Dominican Republic.[33]
With the addition of a Planet Fitness outlet in Hawaii in January 2018, [34] Planet
Fitness had 1,500 locations with an estimated 10 million members across 50 states,
the District of Columbia, the Dominican Republic, Mexico, and Panama [35] and
Canada.[34][29] In 2016, over 90% of Planet Fitness locations were opened by existing
franchise owners.[36]

Sponsorships[edit]
In October 2011, Planet Fitness reached an agreement with NBC to sponsor the
network's reality show, The Biggest Loser beginning with the 2012 season.[37] The
contestants on the show worked out on Planet Fitness equipment and then at Planet
Fitness gyms near their homes, working with Planet Fitness instructors. [37]
In March 2013, Planet Fitness partnered with 50 Cent to sell his energy drink "Street
King".[38]
Since December 2014, Planet Fitness has been the official fitness sponsor of Dick
Clark's New Year's Rockin' Eve on ABC.[39]
In March 2016, Planet Fitness partnered with STOMP Out Bullying, [40] a national
organization dedicated to bullying prevention, and the Boys & Girls Clubs of
America to launch the company's national philanthropic initiative, The Judgement
Free Generation.[41] Also in 2016, the company donated more than $1 million to the
program.[42][43][44] Planet Fitness has also provided mini "Judgement Free Zone" gyms to
Boys & Girls Clubs in Manchester, New Hampshire[45] and Pasadena, California.[46]
In October 2017, Planet Fitness and its members raised $1 million which it donated
to the non-profit Boys and Girls Clubs of America.[47]
In January 2020, Planet Fitness partnered with The Biggest Loser, to be the official
sponsor of the show's 2020 reboot.[48]

References[edit]

1. ^ Jump up to:    "SEC Form 10Q Report, Q1". bamSEC.com. U.S. Securities and Exchange
a b

Commission. Retrieved  May 20, 2020.

2. ^ Sullivan, Max (November 10, 2016). "Planet Fitness headquarters moving to
Hampton".  Seacoast online.com. GateHouse Media. Retrieved May 31,  2017.
3. ^ Hall, Nick. "4 international franchises that landed Down Under in 2019". Inside
Franchise Business. Retrieved December 23,2019.
4. ^ Jump up to:a b Schlossberg, Mallory (December 12, 2015). "The fastest-growing gym in
America has $10 memberships and gives out free pizza, bagels, and candy".  Business
Insider. Retrieved May 31,2017.
5. ^ Turner, Jeremiah.  "Fit for franchising: From first gym in Dover, Planet Fitness building
big brand". fosters.com. Retrieved July 1, 2020.
6. ^ "How Planet Fitness Became the Leader in Fitness Franchising -
News".  www.franchise-info.ca. Retrieved July 2, 2020.
7. ^ "Marc Grondahl of Planet Fitness: How a Lean Business Model Became a Franchise
Heavyweight".  Business Trends and Insights. Retrieved July 2, 2020.
8. ^ Jump up to:a b Zabonick-Chonko, Rachel (November 11, 2013). "Youfit Health Clubs".  Club
Solutions Magazine. Retrieved June 28,2020.
9. ^ Jump up to:a b "YouFit Health Club expanding across South Florida, around nation | The
Starting Gate".  Miami Herald. Retrieved June 30,2020.
10. ^ Brochu, Nicole.  "No-frills gym offers fitness without flash".  Sun-Sentinel.com.
Retrieved June 30, 2020.
11. ^ "Meet Youfit's CEO Rick Berks".  Youfit Youniverse. February 24, 2016. Retrieved  June
29,  2020.
12. ^ "New gym in town hopes it's a good fit". San Diego Union-Tribune. April 19, 2013.
Retrieved June 29, 2020.
13. ^ Jump up to:a b EWEN, Beth; KAISER, Tom; UPTON, Nicholas; WEINGARTNER, Nancy
(February 23, 2016).  "Fast and Serious: FT ranks the smartest-growing
brands".  FranchiseTimes.com. Franchise Times.
14. ^ Jump up to:a b Taylor, Kate (July 25, 2014). "Franchise Players: We Were Planet Fitness's
First Franchisees. Now, We Own 22 Locations".  Entrepreneur.com. Entrepreneur Media.
Retrieved May 31,  2017.
15. ^ Morrel, Katie (June 13, 2013).  "Marc Grondahl of Planet Fitness: How a Lean Business
Model Became a Franchise Heavyweight".  Open Forum. American Express.
Retrieved May 31,  2017.
16. ^ Jakab, Spencer (August 11, 2019). "Planet Fitness Must Come Down to Earth". Wall
Street Journal.  ISSN  0099-9660. Retrieved April 30, 2020.
17. ^ Swanson, Ana.  "What your new gym doesn't want you to know". Washington Post.
Retrieved April 30, 2020.
18. ^ Jump up to:a b O'Neil, Luke (May 8, 2011). "Planet Fitness vs. the lunkheads: Why is a health
club trying to alienate people who love to work out?".  Slate Magazine. Retrieved  June
29,  2020.
19. ^ Jump up to:a b Carter, Kiera (December 29, 2010). "The Worst Gym in America?".  Men's
Health. Retrieved  June 29,  2020.
20. ^ Grinberg, Emanuella (March 9, 2015).  "Planet Fitness revokes woman's membership
after transgender complaint".  CNN.com. Cable News Network. Retrieved July 16, 2018.
21. ^ Lawrence, Kelli (August 15, 2013). "A World Of Their Own".  Profile Magazine.
Retrieved June 8, 2014.
22. ^ "Planet Fitness Has New Investor; Promotes Rondeau To CEO". TSG Consumer
Partners. January 17, 2013.
23. ^ "Former Radio Shack CFO Fills Planet Fitness Hole". WSJ.com. News Corp. July 26,
2013.
24. ^ "Planet Fitness goes public, hits mark in first day of trading".  Los Angeles Times.
August 6, 2015. Retrieved February 19, 2020.
25. ^ Feldman, Amy (June 22, 2016).  "Ranking America's Best And Worst Franchises: Which
Are The Best Investments?".  Forbes.
26. ^ Jump up to:a b "2017 Top Franchises from Entrepreneur's Franchise 500 List". Entrepreneur.
27. ^ Jakab, Spencer (March 23, 2020). "This Gym Chain Has Reason to Sweat". Wall Street
Journal.  ISSN  0099-9660. Retrieved April 30, 2020.
 28. ^ McEnery, Thornton (March 19, 2020). "Planet Fitness members outraged over March
bill amid coronavirus closures". New York Post. Retrieved  April 30,  2020.
29. ^ Jump up to:a b "SEC Form 10Q Report, Q2". SEC.gov. U.S. Securities and Exchange
Commission. Retrieved  August 26,  2019.
30. ^ Tom, Lauren (December 24, 2015). "17 January Gym Discounts That Are Too Cheap to
Pass Up". cosmopolitan.com. Hearst Corp.
31. ^ "American gym powerhouse chooses Brampton for first suburban Canadian location".
32. ^ Tucker, Rebecca (January 22, 2015). "Cheap 'n' cheerful chinups: Canada welcomes
Planet Fitness, the $10 gym for those bad at gym". NationalPost.com. Postmedia
Network Inc.
33. ^ Stromgren, Eric (October 15, 2015). "Planet Fitness Continues International Expansion
in Dominican Republic". Club Industry Magazine. Retrieved June 2, 2017.
34. ^ Jump up to:a b Hrushka, Anna (January 4, 2018).  "Planet Fitness opens first Hawaii location
at Ala Moana Center". Pacific Business News. American City Business Journals.
Retrieved March 12, 2018.
35. ^ "Panama to Welcome Planet Fitness".  Global Franchise magazine. August 16, 2017.
Retrieved March 12, 2018.
36. ^ Rick, Munarriz (April 6, 2017). "10 Million Reasons to Get Pumped About Planet
Fitness". Fox Business. News Corp. Retrieved June 2, 2017.
37. ^ Jump up to:a b Goldman, Stuart (October 11, 2011). "Planet Fitness to Sponsor 'The Biggest
Loser'".  ClubIndustry.com. Penton Media. Retrieved June 2, 2017.
38. ^ "50 Cent and Joan Rivers Kick It At The Gym [PHOTOS]". The Urban Daily. March 28,
2012. Retrieved  June 8,  2014.
39. ^ Olenski, Steve (December 22, 2016).  "Planet Fitness To Launch New Global Campaign
On New Year's Eve". Forbes. Retrieved  June 2,  2017.
40. ^ STOMP Out Bullying
41. ^ Share, Susan (March 11, 2016).  "The Judgement Free Zone: Judgement Free
Generation Video Contest". www.myclubmylife.com. Boys and Girls Clubs of America.
42. ^ Friedman, John (November 9, 2016).  "Planet Fitness 'Judgment Free Zones' a Model of
Inclusion".  Huffington Post. TheHuffingtonPost.com, Inc.
43. ^ Cameron, Courtney (January 2017).  "Planet Fitness Anti-Bullying Initiative $1M
Success". athleticbusiness.com. Athletic Business LLC.
44. ^ "Planet Fitness Anti-Bullying Initiative $1M Success".  thenewsandsentinel.com. The
Parkersburg News & Sentinel. January 8, 2017.
45. ^ Feely, Paul (September 9, 2016). "Planet Fitness debuts fitness room for kids at Boys
and Girls Club in Manchester". UnionLeader.com. New Hampshire Union Leader.
Retrieved June 2, 2017.
46. ^ Pasadena Now, Staff Reports (November 13, 2016). "Planet Fitness Opens Judgement
Free Gym at Pasadena Boys and Girls Club". Pasadena Now. PASADENA NOW. LLC.
Retrieved June 2, 2017.
47. ^ "Planet Fitness raises $1M for Boys and Girls Clubs of America". Fosters.com.
Gatehouse Media Publications. November 28, 2017. Retrieved March 12, 2018.
48. ^ "Planet Fitness named national gym sponsor of 'The Biggest
Loser'".  seacoastonline.com. Retrieved February 19, 2020.

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Categories: 
 Franchises
 Health clubs in the United States
 Companies based in Rockingham County, New Hampshire
 Companies listed on the New York Stock Exchange
 Health care companies established in 1992
 American companies established in 1992
 1992 establishments in New Hampshire
 2015 initial public offerings
 Medical and health organizations based in New Hampshire
 Hampton, New Hampshire
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