ATI

Planet Fitness is one of the largest fitness center franchisors in North America, operating a network of gyms marketed as a "Judgment Free Zone" where members of all fitness levels feel welcome. The company franchises and operates fitness centers under a high-volume, low-cost model designed to make gym membership affordable and accessible to a broad audience rather than targeting serious athletes or bodybuilders.

The brand was founded in 1992 when brothers Michael and Marc Grondahl acquired a struggling Gold's Gym franchise in Dover, New Hampshire. They closed that location, opened a gym called Coastal Fitness, and brought on Chris Rondeau as a third partner. In 2002, the founders purchased the Planet Fitness name from Rick Berks, who had started his own Planet Fitness gym in Florida in 1993. The name itself came from a school project by Berks's daughter. This founding story reflects a deliberate shift away from the intimidating gym culture toward a more inclusive fitness environment.

A defining milestone came in the early 2010s when Planet Fitness formalized its "Judgment Free Zone" concept, which became central to the brand's identity. The company went public in August 2015, providing capital for accelerated expansion. Since then, the network has grown substantially. As of June 2024, Planet Fitness operated approximately 2,575 clubs with roughly 19.6 million members across the United States, Canada, Dominican Republic, Panama, Mexico, Spain, and Australia. More recent data shows the footprint has expanded further to around 2,795 clubs and 20.7 million members as of September 2025.

Over the past five years, Planet Fitness has broadened its appeal beyond occasional gym users to include more experienced fitness enthusiasts by adding equipment and amenities while maintaining its core value proposition. The company operates through a franchise model where most locations are franchisee-owned, generating revenue through initial franchise fees, ongoing royalties, and equipment sales to franchisees. This structure has allowed rapid expansion with relatively low capital expenditure for the parent company.

For commercial real estate professionals, Planet Fitness represents a proven, scaled tenant with consistent traffic patterns, strong brand recognition, and a business model built on high membership volume and recurring revenue. Locations typically occupy neighborhood retail, strip centers, and secondary market spaces where they can serve local populations. The company's continued expansion in existing markets and selective entry into adjacent geographies demonstrates disciplined growth focused on operational efficiency rather than rapid national saturation.