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Revenues jump 67 per cent at Planet Fitness ahead of expansion into new markets
11 May 2022 . BY Tom Walker
The operator opened 37 new sites during Q1 2022 / Planet Fitness
Planet Fitness saw its Q1 2022 revenue increase by 66.9 per cent (to US$186.7m) on 2021 – the latest sign that the US fitness market is bouncing back.

Even more impressively, the figure marks an increase on Q1 2019 revenues (US$148.8 million) – the last comparable quarter not impacted by the pandemic.

The operator opened 37 new sites during the period, bringing the system-wide number of clubs to 2,291.

It also acquired one of its franchisees, Sunshine Fitness, increasing the number of its corporate-owned club portfolio by 114 sites.

Chris Rondeau, Planet Fitness CEO, said the company remains "bullish on the future".

"We believe that the acquisition strengthens our powerful business model by enhancing our corporate store team and diversifying the geographic profile of our corporate-owned stores," he said.

"We've also completed a refinancing, which further supports our business model, by locking in low rates on a significant portion of our debt."

Rondeau added that plans to enter into new markets – such as New Zealand and Mexico – are proceeding and will take place later this year.

Planet Fitness announced a deal to grow the New Zealand market this week (10 May 2022), following the signing of an Area Development Agreement with Castle Point Fitness NZ Ltd, a joint venture between the founder of The Fresnel Companies, LLC, a US-based investment firm and a private family office.

The agreement will bring a minimum of 25 Planet Fitness locations to New Zealand over the next "several years".

You can read HCM's recent exclusive interview with Chris Rondeau herehere.
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Reaxing has launched all-in-one training station the Reax 1001
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British boxer Anthony Joshua and Pulseroll introduce new massage gun AJ Ignite
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Core Health & Fitness has released the StairMaster 8Gx
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Keiser UK introduces pneumatic resistance to Circle Health Group
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ServiceSport UK invests in 3D printers to meet the demand for gym equipment parts
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Parkwood Leisure celebrates four award wins and named Outstanding Organisation of the Year at the 2022 ukactive Awards
It was a night to remember at the 2022 ukactive Awards for Parkwood Leisure, as the leisure facilities operator picked up four awards.
The University of Bath enhances sports facilities with £150,000 Matrix Fitness equipment upgrade
Leading UK university the University of Bath is steeped in a history of sporting excellence, with Team Bath committed to offering its students a wealth of sporting opportunities and access to world-class facilities.
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Premier Software raises over £1,000 cycling for Prostate Cancer UK
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Jobs    News   Products   Magazine
PRODUCT NEWS
Revenues jump 67 per cent at Planet Fitness ahead of expansion into new markets
11 May 2022 . BY Tom Walker
The operator opened 37 new sites during Q1 2022 / Planet Fitness
Planet Fitness saw its Q1 2022 revenue increase by 66.9 per cent (to US$186.7m) on 2021 – the latest sign that the US fitness market is bouncing back.

Even more impressively, the figure marks an increase on Q1 2019 revenues (US$148.8 million) – the last comparable quarter not impacted by the pandemic.

The operator opened 37 new sites during the period, bringing the system-wide number of clubs to 2,291.

It also acquired one of its franchisees, Sunshine Fitness, increasing the number of its corporate-owned club portfolio by 114 sites.

Chris Rondeau, Planet Fitness CEO, said the company remains "bullish on the future".

"We believe that the acquisition strengthens our powerful business model by enhancing our corporate store team and diversifying the geographic profile of our corporate-owned stores," he said.

"We've also completed a refinancing, which further supports our business model, by locking in low rates on a significant portion of our debt."

Rondeau added that plans to enter into new markets – such as New Zealand and Mexico – are proceeding and will take place later this year.

Planet Fitness announced a deal to grow the New Zealand market this week (10 May 2022), following the signing of an Area Development Agreement with Castle Point Fitness NZ Ltd, a joint venture between the founder of The Fresnel Companies, LLC, a US-based investment firm and a private family office.

The agreement will bring a minimum of 25 Planet Fitness locations to New Zealand over the next "several years".

You can read HCM's recent exclusive interview with Chris Rondeau herehere.
PRODUCT NEWS
Trainerize partners with Garmin to bring deeper insights to personal coaches
Trainerize, the fitness business software making wellness accessible by empowering businesses to better engage with their members, announces its latest integration with Garmin®, a leading global provider of smartwatches, fitness trackers and digital health solutions.
Reaxing has launched all-in-one training station the Reax 1001
Reaxing has launched Reax 1001, a training station that integrates four of the company’s products into one.
British boxer Anthony Joshua and Pulseroll introduce new massage gun AJ Ignite
British boxer Anthony Joshua and Pulseroll have joined forces to launch a new limited-edition massage gun collection called AJ Ignite.
Core Health & Fitness has released the StairMaster 8Gx
Core Health & Fitness has announced the launch of the StairMaster 8Gx. Features include a new drivetrain; a deeper, wider step surface; rust-free polypropylene construction; and ergonomic handrails which support multiple climbing positions.
i-Tech Industries creates new i-Boost concept
i-Tech Industries has created the i-Boost concept after blending two of its patented device technologies – icoone and icoone Booster.
Lifting communities can connect and compete using Brawn’s AI-driven InGym
Brawn has launched InGym, a connected strength-training visual display solution for the free weights lifting community. The technology was recently revealed to the public at the Ministry of Sound, in London, when a floor full of lifters gathered with the goal of reaching a collective 350,000kg.
Keiser UK introduces pneumatic resistance to Circle Health Group
Simon Roberts, lead physio for the brand-new Circle Health rehabilitation centre in Birmingham, was recently joined by Keiser UK consultant physio, Manoj Patel, to discuss and demonstrate the benefits of utilising pneumatic resistance within patient treatment to Circle Health’s MSK and Neuro rehab teams.
ServiceSport UK invests in 3D printers to meet the demand for gym equipment parts
ServiceSport UK has invested significantly in several industry-leading 3D printers to meet the demand for gym equipment parts.
Parkwood Leisure celebrates four award wins and named Outstanding Organisation of the Year at the 2022 ukactive Awards
It was a night to remember at the 2022 ukactive Awards for Parkwood Leisure, as the leisure facilities operator picked up four awards.
Premier Software raises over £1,000 cycling for Prostate Cancer UK
Throughout May, Premier Software’s team of cyclists aimed to ride 300 miles to increase cancer awareness, and raise important funds as part of Prostate Cancer UK’s Cycle the Month challenge.
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COMPANY PROFILES
Empowered Brands

Empowered Brands is a fitness franchise incubator that acquired the énergie Fitness Group in 2020. [more...]
+ More profiles  
CATALOGUE GALLERY
+ More catalogues  

VIDEO GALLERY

Technogym Biocircuit
Losing weight, building strength, ageing in good health: whatever takes you to the fitness club, it needs to be addressed specifically. One size doesn’t simply fit all. Up until today. Find out more...
+ More videos  

DIRECTORY
+ More directory  
DIARY

 

03-04 Sep 2022

HEALING SUMMIT 2022 - The Healing of Everything

Pine Cliff Resort, Portugal
12-13 Sep 2022

2022 Salt Therapy Association Conference

Wyndham Lake Buena Vista Disney Springs® Resort, Lake Buena Vista, United States
+ More diary  
 


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©Cybertrek 2022

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