Anthropologie

Planet Fitness is a franchisor and operator of fitness centers that has built one of the largest gym networks in North America through a straightforward, high-volume, low-cost model. The company was founded in 1992 when brothers Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. They eventually rebranded it as Planet Fitness after purchasing the name from Rick Berks, who had started his own Planet Fitness location in Florida in 1993. The brand's defining concept, introduced early in its history, was the "Judgment Free Zone"—an environment designed to welcome gym members of all fitness levels without intimidation or pretense.

As of December 2025, Planet Fitness operates approximately 2,795 clubs with roughly 20.7 million members across all 50 states, the District of Columbia, Puerto Rico, Canada, Panama, Mexico, Australia, and Spain. The company went public in August 2015, a pivotal moment that provided capital for accelerated expansion. In the years since, Planet Fitness has nearly doubled its footprint, reaching over 2,000 locations by 2019 and continuing to grow steadily. The company reported total revenue of $1.1 billion in 2024, demonstrating sustained financial strength even as it navigates a competitive fitness landscape.

The business operates primarily through franchising, with the majority of its locations owned and operated by franchisees who pay initial fees and ongoing royalties. This model allows Planet Fitness to expand rapidly while maintaining brand consistency through proprietary training systems and operational standards. The company also generates revenue through equipment sales to franchisees and operates a smaller portfolio of corporate-owned stores. In recent years, Planet Fitness has broadened its appeal beyond occasional gym users to include more experienced fitness enthusiasts by adding equipment and amenities, signaling an evolution in how it positions itself within the broader fitness market.

For real estate professionals, Planet Fitness represents a proven, scalable tenant with strong unit economics, a recognizable national brand, and demonstrated ability to operate profitably across diverse markets and real estate formats. The company's franchise-heavy model and consistent expansion strategy make it a reliable anchor or co-tenant prospect in mixed-use and retail centers seeking fitness-oriented tenancy.