Planet Fitness

Planet Fitness is a large-scale fitness center franchisor and operator that focuses on affordable memberships and a comfortable, no-pressure gym experience. Its clubs are designed for everyday users and people who may be new to fitness, with straightforward membership options and a familiar mix of cardio machines, strength equipment, circuit areas, and basic instruction that can vary by location. As of February 2025, the brand operates roughly 2,700 locations across the United States and a growing roster of international markets, including Canada, Mexico, Puerto Rico, Panama, and Australia.

The company began as a single gym in Dover, New Hampshire, in 1992. What started as a local club evolved into the Planet Fitness concept in the early 1990s, built around the idea that gyms should feel welcoming instead of intimidating. A major turning point came in 2003, when Planet Fitness launched its franchising program. That move shifted the business from a small regional operator to a scalable model that could be replicated across multiple markets. Another key milestone followed in 2015, when Planet Fitness went public on the New York Stock Exchange under the ticker PLNT, giving the company broader access to capital to support new club development and system-wide investment.

Over the past decade, and especially during the last five years, Planet Fitness has moved from being primarily a U.S. value gym chain into a widely recognized international brand. The network has grown from the hundreds of locations seen in the early 2010s to a system that surpassed 2,400 clubs worldwide before the pandemic and then returned to that scale and beyond in the recovery period. Franchisees account for most locations, while corporate-owned stores provide an anchor portfolio in select markets and support brand consistency. During this same period, Planet Fitness has continued to lean into its high-volume, low-price approach, national marketing, and consistent in-club experience, helping the system reach tens of millions of members and maintain one of the largest membership bases in the fitness sector.

Recent activity underscores that growth posture. The company has continued to award new franchises and open units across existing and emerging U.S. trade areas while extending its reach in Canada, Latin America, and Australia. Securitized financing transactions completed in 2025 have been framed as tools to support future expansion and provide added flexibility for both new clubs and reinvestment in the existing base. Leadership updates and organizational realignments announced in the same period are intended to keep the brand positioned for long-term unit growth and operational scale.

For landlords, brokers, and developers, Planet Fitness functions as a traffic-driving health and wellness anchor with a standardized operating model and highly recognizable name. Clubs typically occupy larger inline or endcap suites, freestanding pads, or former big-box space in neighborhood and community centers, power centers, and other open-air retail settings. Because members visit on recurring monthly plans and often use the gym outside of peak retail hours, a Planet Fitness can add consistent, off-peak visits that benefit surrounding tenants. The brand’s ongoing pipeline of franchised openings, willingness to reuse second-generation retail boxes, and focus on both infill and suburban locations make it a repeat player in many markets and a familiar counterparty for owners looking to stabilize or reposition sizeable retail spaces.