Latest News

Back to Latest News back

 

Planet Fitness to accelerate new club opening plans following strong financial performance

Planet Fitness to accelerate new club opening plans following strong financial performance
August 29, 2019

Having reported a 29.3% increase in revenue for the first half of 2019 - driven largely by new openings - USA-based Planet Fitness is planning further growth, with Australasian Leisure Management understanding it is in advanced stages of planning to begin operations in Australia.

The low-cost operator opened 53 new clubs during the six months to 30th June, which resulted in total revenues reaching US$181.7 million while sales increased by 8.8%.

Advising that the growth was a result of "favourable real estate trends", Planet Fitness Chief Executive Chris Rondeau advised that the company has increased its target for new openings during 2019.

Rondeau stated “we now expect to open between 250 and 260 new Planet Fitness locations system-wide in 2019, up from our prior outlook of approximately 225.

"With the strong returns generated by our welcoming, non-intimidating fitness concept, franchisees are increasingly eager to reinvest in both expanding their geographic footprint and broadening awareness of the Planet Fitness Brand among casual and first-time gym users, as well as re-investing in their existing store fleet by re-equipping their clubs with new equipment.

"I am very proud of all our recent accomplishments and I am confident that the work being done across our system by our franchisees, corporate staff and team members in our stores is setting the Company up for continued success."

Founded in 1992, Planet Fitness has become one of the largest and fastest-growing franchisors and operators of health clubs in the USA. It also operates in Canada, Dominican Republic, Mexico and Panama.

As of 30th June it had more than 14 million members across 1,859 clubs while earlier this month it was named to Fortune magazine’s 2019 100 Fastest-Growing Companies list, ranking 58 among the world's top three-year performers in revenues, profits, and stock returns.

Related Articles

28th August 2019 - Viva Leisure 2018/19 financial results exceed prospectus forecasts

25th July 2019 - Planet Fitness planning Australian arrival with ‘Judgment Free’ clubs

1st April 2019 - New Victorian program aims to end gym intimidation

14th March 2019 - Fitness industry growth contained by market saturation and decline in discretionary income of consumers

12th March 2019 - New marketing strategies needed to drive ongoing growth of 24/7 gyms

28th August 2018 - Precor secures major contract with Planet Fitness

8th April 2018 - IBISWorld shows that 24/7 budget gyms have transformed Australian fitness

16th March 2017 - Collective Wellness Group takes on Orangetheory Fitness Australian master franchise

20th July 2016 - F45 Training set to reach 700 franchises worldwide

31st October 2013 - ACCC to audit fitness franchises

30th October 2013 - Fitness businesses acclaimed at franchise awards


Support our industry news service
We hope that you value the news that we publish so while you're here can we ask for your support?

As an independent publisher, we need reader support for our industry news gathering so ask that - if you don't already do so - you back us by subscribing to the printed Australasian Leisure Management magazine and/or our online news.

 

supplier directory

The Complete Guide to Leisure Industry Products & Services.

See the directory see all

Aussie Strength

Commercial gym equipment supplier Aussie Strength was wound up at the end of 2022.    .aussie p { padding:20px; }

read more

Fitness / Technology / Wellness

 
 

Fluidra Commercial

  Fluidra Commercial Australia develops innovative, highly technical and sustainable solutions designed to create unique aquatic facilities for the 'Commercial Pool' category. Public…

read more

Aquatics / Environment / Sport / Technology / Waterparks

 
 

Hadley/Series Australia Pty Ltd

Hadley Australia and Series Australia Pty Ltd are the leading quality theatre chair manufacturers in the southern hemisphere. The businesses work closely with architects, interior designers and…

read more

Arts / Culture / Design / Entertainment / Venues

 
 

TICKETSERV

As of 2018, TicketServ operates as SeatGeek Asia Pacific Pty Limited, part of international ticketing platform SeatGeek. Click here to contact SeatGeek Asia Pacific via their entry in…

read more

Attractions / Entertainment / Events / Sport / Ticketing

 
 

PerfectGym

Perfect Gym Solutions is a software as a service (SaaS) solution purpose-built to service the fitness industry, with over 1000 clients servicing over two million gym members across 40 countries making…

read more

Access / Fitness / Marketing / Recreation / Technology

 
 

Ausfit

Ausfit began in 1992, providing software services to the health and fitness sector including ClubWise, a fully hosted web-based product which combines state of the art club management software,…

read more

Billing / Finance / Fitness / Technology

 
 

@leisure Planners

@leisure is a team of experienced leisure, aquatic and sports facility managers and planners, with market modelling, sports management, recreation planning, business and GIS qualifications. We have…

read more

Consultants

 
 

Altitude Training Systems

ATS are global leaders in altitude training and research. From mask systems and inflatable tents to simulated altitude facilities, we help all athletes gain the competitive edge. Our…

read more

Fitness / Sport / Technology

 
 
 
 

get listed with our suppliers directory

Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!

list your business