Planet Fitness, Inc.

What does Planet Fitness own?
Planet Fitness owns and operates approximately 100 corporate fitness clubs and franchises over 2,600 additional locations under the Planet Fitness brand. The company also owns Planet Fitness Equipment LLC, which supplies fitness equipment to franchisees, and operates the Planet Fitness App digital platform. Its premium membership tier, PF Black Card, is offered under the same brand name.

Is Planet Fitness publicly traded?
Yes, Planet Fitness is publicly traded on the New York Stock Exchange under the ticker symbol PLNT. The company completed its IPO in August 2015, pricing shares at $16 each. Shares are held by institutional investors including T. Rowe Price, Vanguard Group, and BlackRock, along with individual shareholders.

Who founded Planet Fitness?
Planet Fitness was founded in 1992 by brothers Michael and Marc Grondahl in Dover, New Hampshire. Rick Berks, who had used the Planet Fitness name for a gym in Sunrise, Florida, sold the naming rights to the Grondahls in 2002. Chris Rondeau, who joined as a front desk attendant and later became CEO, was also a key figure in developing the company's business model.

Where is Planet Fitness headquartered?
Planet Fitness is headquartered in Hampton, New Hampshire, USA. The company has maintained its headquarters in New Hampshire since its founding, even as it has expanded to over 2,700 locations across five countries. The corporate offices house franchise support, marketing, technology, and executive functions.

How many brands does Planet Fitness own?
Planet Fitness operates as a single-brand company. The Planet Fitness brand is the company's sole consumer-facing product. The PF Black Card is a premium membership tier offered under the same brand, not a separate brand. The company does not operate multiple gym concepts or fitness brands.

Who owns Planet Fitness?
Planet Fitness is owned by its public shareholders. No single investor or group exercises controlling interest. Major institutional shareholders include T. Rowe Price, Vanguard Group, and BlackRock. The company is governed by a board of directors led by Chairman Stephen B. Buggy Jr., with CEO Colleen Keating responsible for day-to-day operations.

What is Planet Fitness' revenue?
Planet Fitness reported revenue of $1.25 billion for FY2025, up from $1.1 billion in FY2024. The franchise segment contributed approximately $580 million, corporate-owned stores approximately $420 million, equipment sales approximately $180 million, and other revenue approximately $70 million. In Q1 2026, the company reported revenue of $345 million, up 11% year over year.

Has Planet Fitness made major acquisitions recently?
Planet Fitness has grown primarily through organic expansion and franchising rather than acquisitions. The company opened approximately 170 new clubs in 2025 and plans approximately 180 new openings in 2026. The company has not made significant acquisitions of other fitness brands or companies in recent years.

Planet Fitness traces its origins to 1992, when brothers Michael and Marc Grondahl opened a gym in Dover, New Hampshire. The gym was initially a traditional fitness center, competing on equipment and amenities. The Grondahls struggled with this model, facing intense competition from established gyms in the area. They purchased a struggling gym called Coastal Fitness and brought on Chris Rondeau as a third partner. Rondeau, who started as a front desk attendant, would later become CEO of the company.

The turning point came in the early 2000s. The Grondahls observed that most people who joined gyms did not use them regularly, and that traditional gyms catered to serious fitness enthusiasts who intimidated casual users. They developed a new concept: a gym with minimal equipment, no group classes, and low prices, targeting the majority of the population who wanted to exercise occasionally without feeling judged.

In 2002, the Grondahl brothers purchased the rights to the Planet Fitness name from Rick Berks, who had originally established a Planet Fitness gym in 1993 in Sunrise, Florida. Berks had used the name for his independent gym but agreed to sell the naming rights. This acquisition allowed the Grondahls to rebrand their existing locations and begin franchising the concept.

The "Judgement Free Zone" philosophy was introduced in 2003, formalizing the company's positioning as a non-intimidating gym for casual users. The concept resonated with a large segment of the population that felt uncomfortable in traditional fitness centers. Membership grew rapidly as the company expanded through franchising.

Planet Fitness began franchising in 2003, and the franchise model became the primary growth vehicle. Franchisees paid an initial fee and ongoing royalties, while the corporate company provided brand standards, marketing support, and equipment procurement. This model allowed rapid expansion with minimal capital investment from the corporate entity.

The company reached 100 locations in 2011 and 1,000 locations in 2015. In August 2015, Planet Fitness completed its initial public offering, listing on the NYSE under the ticker symbol PLNT. The IPO priced at $16 per share, raising approximately $216 million. The offering was well-received, with shares trading up on the first day.

Following the IPO, the company accelerated expansion. It reached 2,000 locations in 2020, despite the COVID-19 pandemic forcing temporary closures of gyms across the country. The company used the pandemic period to renegotiate leases, optimize its franchise system, and invest in digital capabilities including a mobile app and virtual fitness classes.

International expansion began with Canada in 2014, followed by Mexico, Spain, and Australia. The company has been selective about international markets, choosing countries with similar fitness habits and franchise regulatory environments to the United States. As of 2025, approximately 100 locations operate outside the United States.

In 2023, the company faced a leadership transition when CEO Chris Rondeau stepped down after 30 years with the company. Craig Benson, a former board member and former governor of New Hampshire, served as interim CEO until Colleen Keating was appointed as permanent CEO in June 2024.

In 2025 and 2026, the company continued its expansion under Keating's leadership. The company opened approximately 170 new clubs in 2025 and announced plans for approximately 180 new openings in 2026. The company has been investing in its digital platform, including the Planet Fitness app, which had over 8 million downloads as of early 2026. In Q1 2026, the company reported its 14th consecutive quarter of same-store sales growth.

Planet Fitness does not publish a formal sustainability report and is not a Certified B Corporation. The company does not have independently verified science-based targets for emissions reduction. Its environmental footprint is primarily related to energy consumption at fitness clubs (lighting, HVAC, equipment) and the manufacturing and disposal of fitness equipment.

The company has made some sustainability-related commitments. In 2022, Planet Fitness announced a partnership with Johnson Fitness and Wellness to recycle used fitness equipment from closing or renovating clubs. The company has also installed energy-efficient LED lighting and HVAC systems in new club builds.

The company's social initiatives include the Judgement Free Generation program, a philanthropic initiative that partners with Boys and Girls Clubs of America to support youth development. The company has donated over $5 million to this cause since the program's inception in 2016.

Planet Fitness has not faced regulatory action or significant criticism related to greenwashing or misleading sustainability claims. The company's environmental reporting is limited, reflecting its status as a franchise-focused fitness company rather than a manufacturer or extractive business.

Planet Fitness has faced several public controversies in recent years. In March 2024, the company experienced a backlash over its gender identity policy, which allows members to use locker rooms that align with their gender identity. A member in Fairbanks, Alaska complained about a transgender woman using the women's locker room, and the company revoked the complaining member's membership for violating its non-discrimination policy. The incident generated significant media coverage and social media debate. The company's stock declined approximately 7% in the days following the incident, though it recovered within weeks. Planet Fitness defended its policy, stating that it is consistent with its Judgement Free Zone philosophy and applicable non-discrimination laws.

The company has also faced criticism over its cancellation policy. Members have reported difficulty cancelling their memberships, with some requiring in-person visits or certified mail to cancel. In 2023, the company introduced an online cancellation option in response to consumer complaints and regulatory pressure. Several states, including California and New York, have passed laws requiring gyms to offer online cancellation, and Planet Fitness has complied with these requirements.

In 2024, a class-action lawsuit was filed against Planet Fitness alleging that the company's annual fee structure and billing practices were deceptive. The lawsuit alleged that the company charged annual fees at unpredictable times of the year, making it difficult for members to budget for the charges. The case was ongoing as of early 2026.

The company has also faced scrutiny over its franchisee labor practices. Some franchise locations have been cited for wage and hour violations, though these are typically addressed at the franchisee level rather than the corporate level. The company provides franchisees with compliance guidance but does not directly employ most club staff.