Planet Fitness Celebrates Major Milestones in Membership and Growth by Year-End 2024
On January 13, 2025, Planet Fitness, Inc. (NYSE: PLNT), one of the most influential names in fitness franchising, released its year-end metrics that underscore its rapid growth and extensive reach in the fitness industry. The company's commitment to providing a welcoming fitness experience known as the Judgment Free Zone® has attracted an impressive total membership number of approximately 19.7 million by the end of 2024, further solidifying its status as the leader in the fitness sector.
The company's growth trajectory has been highlighted by a remarkable 5.0% increase in same club sales year-round. This robust performance is not merely a number; it reflects the company's strategic initiatives that resonate well with existing members and allure potential newcomers seeking fitness solutions in an encouraging environment.
In 2024, Planet Fitness expanded its footprint significantly by opening 150 new fitness centers, with 21 of these being corporate-owned facilities. This brings the total number of Planet Fitness locations to an impressive 2,722 across various regions, including the United States, Canada, and parts of Europe and Latin America. The company also marked a noteworthy milestone by placing equipment in 124 franchised clubs, underscoring its commitment to empowering franchisees.
CEO Colleen Keating expressed pride in these accomplishments, stating that the company has remained aligned with its growth objectives set at the beginning of the year. Notable achievements this year included refinancing certain debt portions, initiating an accelerated share repurchase program, and introducing a new economic model for club operations. Additionally, Planet Fitness adjusted the Classic Card price for new members for the first time in over 25 years—a significant change likely to bring greater value to both the business and its stakeholders.
In preparation for the new year, the company strengthened its leadership team by welcoming seasoned executives Chip Ohlsson as Chief Development Officer and Brian Povinelli as Chief Marketing Officer. Their combined experience in managing consumer brands through growth phases and working collaboratively with franchisees will play a crucial role in Planet Fitness's ongoing expansion and brand evolution.
This strategic plan moving forward will focus on enhancing member experience, refining product offerings, and accelerating the opening of new clubs, thus ensuring sustained growth and satisfaction among its members. The company firmly believes that these initiatives will increase economic value for all stakeholders—franchisees, members, and shareholders alike.
Looking ahead, Planet Fitness is set to announce its complete fiscal year 2024 results on February 25, 2025, including a fresh outlook for 2025. The significant metrics unveiled will undoubtedly capture the attention of fitness enthusiasts and investors alike.
Potential investors and fitness seekers can tune into a live webcast of the management's fireside chat presentation scheduled for January 13, 2025, at 3:00 PM Eastern Time, through Planet Fitness's investor relations website.
As an industry leader founded in 1992 in Dover, NH, Planet Fitness has consistently aimed to enhance people’s lives through accessible, quality fitness experiences. With over 90% of its locations operated by independent owners, the brand remains committed to expanding its reach while maintaining a strong connection with communities worldwide.
The company's growth trajectory has been highlighted by a remarkable 5.0% increase in same club sales year-round. This robust performance is not merely a number; it reflects the company's strategic initiatives that resonate well with existing members and allure potential newcomers seeking fitness solutions in an encouraging environment.
In 2024, Planet Fitness expanded its footprint significantly by opening 150 new fitness centers, with 21 of these being corporate-owned facilities. This brings the total number of Planet Fitness locations to an impressive 2,722 across various regions, including the United States, Canada, and parts of Europe and Latin America. The company also marked a noteworthy milestone by placing equipment in 124 franchised clubs, underscoring its commitment to empowering franchisees.
CEO Colleen Keating expressed pride in these accomplishments, stating that the company has remained aligned with its growth objectives set at the beginning of the year. Notable achievements this year included refinancing certain debt portions, initiating an accelerated share repurchase program, and introducing a new economic model for club operations. Additionally, Planet Fitness adjusted the Classic Card price for new members for the first time in over 25 years—a significant change likely to bring greater value to both the business and its stakeholders.
In preparation for the new year, the company strengthened its leadership team by welcoming seasoned executives Chip Ohlsson as Chief Development Officer and Brian Povinelli as Chief Marketing Officer. Their combined experience in managing consumer brands through growth phases and working collaboratively with franchisees will play a crucial role in Planet Fitness's ongoing expansion and brand evolution.
This strategic plan moving forward will focus on enhancing member experience, refining product offerings, and accelerating the opening of new clubs, thus ensuring sustained growth and satisfaction among its members. The company firmly believes that these initiatives will increase economic value for all stakeholders—franchisees, members, and shareholders alike.
Looking ahead, Planet Fitness is set to announce its complete fiscal year 2024 results on February 25, 2025, including a fresh outlook for 2025. The significant metrics unveiled will undoubtedly capture the attention of fitness enthusiasts and investors alike.
Potential investors and fitness seekers can tune into a live webcast of the management's fireside chat presentation scheduled for January 13, 2025, at 3:00 PM Eastern Time, through Planet Fitness's investor relations website.
As an industry leader founded in 1992 in Dover, NH, Planet Fitness has consistently aimed to enhance people’s lives through accessible, quality fitness experiences. With over 90% of its locations operated by independent owners, the brand remains committed to expanding its reach while maintaining a strong connection with communities worldwide.
Topics Health）
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