Planet Fitness Investor Relations Material
Fitness for All
Planet Fitness is an American chain of gyms, focusing on creating a welcoming environment Established in 1992 in Dover, New Hampshire, the gym has strategically positioned itself as a "Judgement Free Zone," aiming to make first-time and casual gym-goers feel comfortable. The gyms are primarily found in the USA, but Planet Fitness now has locations outside of its home country.
A Clear Vision From the Start
When Michael and Marc Grondahl acquired a struggling gym in 1992, they sought to redefine the concept of fitness centers. The brothers recognized that intimidating atmospheres often deterred average individuals from joining or regularly attending gyms. As a result, they envisioned a place where everyone felt welcomed, regardless of their fitness level. Over the years, this vision, combined with affordable memberships, allowed the company to expand rapidly. By the 2000s, the brand had franchised, and its presence spread far beyond New Hampshire, establishing it as a major player in the fitness industry. Other publicly traded companies operating in the same sector include names like Peloton, Nautilus, and Lululemon.
Creating a Judgement-Free Workout Environment
What sets Planet Fitness apart is the design of its gyms. Instead of rows of heavy free weights and specialist equipment, the gyms focus on an abundance of cardio machines and strength training machines, catering to a different type of gym goes than traditional establishments might. While some locations offer group fitness classes, the essence of Planet Fitness is to allow members to undertake their own routines without feeling watched or judged.
Today, Planet Fitness boasts over 2,000 clubs across the United States and has even ventured into international territories, including Canada and the Dominican Republic. They've continued to prioritize affordability with their memberships, with some levels even offering benefits like access to any location and bringing a guest for free. Furthermore, the brand introduced the Planet Fitness app, providing members with workout guides, tracking tools, and even the ability to check how crowded a branch is before heading in.