Ace Hardware

Planet Fitness Corporation is a franchisor and operator of fitness centers that has built one of the largest gym networks in the world by combining affordability with a welcoming, judgment-free approach to fitness. The company operates through a mix of company-owned locations and franchised clubs, serving members across the United States, Canada, Latin America, and Australia.

The brand was founded in 1992 in Dover, New Hampshire, by brothers Michael and Marc Grondahl, who recognized that traditional gyms felt exclusionary and expensive for most people. Their insight was straightforward: create a fitness center that welcomed everyone, regardless of fitness level or experience, and price it low enough that cost would never be a barrier to joining. That philosophy remains central to Planet Fitness today. The company formalized its expansion strategy in 2003 when it began franchising, a decision that unlocked rapid growth and allowed entrepreneurs to build fitness businesses under a proven operating model.

As of March 2024, Planet Fitness operated more than 2,500 locations globally, with approximately 18.7 million members. The network has grown substantially over the past five years, driven by both new ground-up openings and conversions of independent fitness operators who join the Planet Fitness system for its brand recognition, operational support, and member acquisition capabilities. The company reported total revenue of 1.1 billion dollars in fiscal year 2024, reflecting the scale and stability of its business model.

Planet Fitness differentiates itself through its "Judgment Free Zone" concept, which emphasizes a non-intimidating environment where members exercise without self-consciousness. The brand also keeps membership affordable, with basic tiers starting around ten dollars per month, making fitness accessible to a broad demographic rather than targeting hardcore athletes or enthusiasts. This high-volume, low-cost model has proven durable and scalable across different markets and formats.

For commercial real estate professionals, Planet Fitness represents a high-traffic, credit-worthy tenant that typically occupies mid-box to large-box space in neighborhood centers, lifestyle centers, and freestanding buildings. The franchise network creates numerous local decision makers and operators, while Planet Fitness corporate provides centralized real estate and development contacts for larger portfolio opportunities and programmatic growth. The brand's consistent expansion pipeline, proven unit economics, and multi-market presence make it a reliable anchor or co-anchor candidate in both established and emerging markets across North America and select international regions.