WingStop

Planet Fitness Inc. is one of the largest and fastest-growing franchisors and operators of fitness centers in the world. The company operates a predominantly franchised system where more than 90 percent of locations are independently owned and operated, generating revenue primarily through franchise fees, royalties and equipment sales rather than company-operated stores. The brand positions itself around a core concept called the Judgement Free Zone, emphasizing an affordable, welcoming environment where people of all fitness levels can exercise without intimidation.

The company was founded in 1992 in Dover, New Hampshire by Michael and Marc Grondahl, who recognized that the traditional gym model felt exclusive and unwelcoming to everyday people. Planet Fitness began franchising in 2003 and has since built a national and international footprint. A significant milestone came with the company's transition to a public company on the New York Stock Exchange under the ticker PLNT, which provided capital and visibility to accelerate development. The brand has invested heavily in its membership tiers, digital offerings and facility standards to support its high-volume, low-price model.

As of November 2025, Planet Fitness operates more than 2,500 locations across 50 states and seven countries with approximately 20.7 million members. The system has grown substantially in recent years, adding 1 million net new members since the end of 2023 and opening 150 new clubs in 2024 alone. System-wide same-club sales increased 5 percent in 2024, reflecting consistent performance across the footprint. The brand's restaurants are primarily located in the United States, but it maintains an expanding international presence across Canada, Latin America and Australia.

Planet Fitness's current strategy centers on sustained unit growth and deeper market penetration in both domestic and international markets. Management has articulated a multi-thousand-unit white space opportunity and continues to emphasize disciplined site selection in locations that support strong digital, takeout and delivery volume. The company recently realigned its leadership team to support growth initiatives and has demonstrated a track record of opening over 100 net new locations annually. For commercial real estate professionals, Planet Fitness represents a scaled, creditworthy tenant with a compact prototype, high membership mix and a development program that targets both new markets and deeper penetration in existing metropolitan areas. The company's real estate and development teams work actively with landlords, brokers and franchisees to evaluate new sites that match its footprint and operational model.