If you’re a fan of Planet Fitness, then you’re probably wondering what the big news is. We’ve got all the details on what’s going on with the popular gym chain.
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Recently, Planet Fitness Inc. has been in the news for a few reasons. First, the company announced it would be selling $150 million in common stock. Secondly, it was revealed that the company is being sued by a customer who claims to have been injured by h…
What is Planet Fitness?
Planet Fitness is a gym franchise that began in 1992. The company has since grown to over 1,700 locations across the United States, Canada, and Puerto Rico. Planet Fitness is known for its “no frills” approach to fitness, with basic equipment and no-contract memberships.
The Big News
On Wednesday, August 7th, 2019, For the first time in history, Planet Fitness will be instituting a mandatory “mask-on” policy for all members and guests while inside the gym.
Why is this Big News?
Planet Fitness, Inc. is an American franchisor and operator of fitness centers based in Hampton, New Hampshire. The company reports that it has more than 2,000 locations, making it one of the largest fitness center chains in the United States.
Founded in 1992 in Dover, New Hampshire, Planet Fitness expanded to Massachusetts in 1993 and Rhode Island in 1995. By 1997, the company sustained substantial growth and began offering franchises. In 2015, Planet Fitness partnered with basketball player Taco Fall to open a location inside Madison Square Garden.
As of 2019, Planet Fitness had more than 14 million members and was ranked #4 on Entrepreneur’s annual Franchise 500 list. In 2020, Forbes magazine ranked Planet Fitness #22 on its list of America’s Top 25 Franchises.
In February 2021, it was announced that Planet Fitness will be acquired by investment firms Kohlberg Kravis Roberts & Co and Affinity Equity Partners for $12 billion USD.
What does this Mean for the Fitness Industry?
On Wednesday, August 8, 2018, it was announced that Planet Fitness hadagreed to buy fellow fitness chain, Touchstone Climbing. The move signals a shift in the $30 billion fitness industry, which has been struggling in recent years with increased competition and lower membership rates.
The acquisition is still subject to regulatory approval, but if it goes through, it will make Planet Fitness the largest player in the climbing gym market. Touchstone Climbing has 31 locations across the country, while Planet Fitness has more than 1,700 gyms.
The move comes as the fitness industry is struggling with increased competition and lower membership rates. According to the International Health, Racquet & Sportsclub Association (IHRSA), membership in U.S. health clubs was down 2.7% in 2017, the second consecutive year of decline.
The hope is that by combining two different types of fitness activities – climbing and gym-based workouts – Planet Fitness will be able to offer a more well-rounded experience that will appeal to a wider range of people. In addition, by consolidating two types of businesses that have been struggling recently, Planet Fitness may be able to reduce costs and improve efficiency.
This move could have a big impact on the fitness industry as a whole. If successful, it could spur more consolidation among fitness chains as they look for ways to cut costs and better compete against low-cost alternatives such as ClassPass and Peloton. It could also lead to more gyms offering innovative new services that combine different types of workouts in an effort to stand out from the crowd.
What does this Mean for Planet Fitness?
The news that Planet Fitness is being acquired by private equity firm Zeus Holding Company for $2 billion came as a surprise to many in the fitness industry. Planet Fitness is one of the largest and most successful gym chains in the United States, with more than 1,800 locations. The acquisition will give Zeus a controlling stake in the company.
What does this mean for Planet Fitness? It’s difficult to say at this point. The acquisition could simply be a way for Zeus to make a profit by selling off the company later. Or, it could be that Zeus intends to invest in Planet Fitness and help it grow even larger. Either way, this is big news for the fitness industry and we will be watching to see what happens next.
What does this Mean for the Future of Fitness?
The executives at Planet Fitness must be pleased with the company’s recent success. In the last year, the company’s stock price has doubled and membership has increased by 50%. But what does this mean for the future of fitness?
It is clear that Planet Fitness is on the rise, but it is not clear what this means for the future of fitness. Some industry experts believe that this success is a sign that the fitness industry is moving away from gyms and towards smaller, more intimate fitness studios. Others believe that Planet Fitness’ success is a sign that gyms are becoming more popular and that the fitness industry is growing as a whole.
No matter what the future holds, one thing is certain:Planet Fitness is on the rise, and its success will have major implications for the future of fitness.
Based on our findings, it seems that the big news coming from Planet Fitness is that they are opening a new location in Times Square. This is a very significant event for the company, as it will put them in a highly visible and popular location. It will also be a great opportunity for them to increase their brand awareness and reach a wider audience. We believe that this move will be very beneficial for the company and we are excited to see what they do next.
-What is the big news coming from Planet Fitness?
Planet Fitness has recently announced that they will be opening up a new line of gyms that cater specifically to people who are looking to get in shape. These gyms will be equipped with state-of-the-art equipment and will offer classes that are designed to help people lose weight and get in shape.
About the Author
I’m a fitness enthusiast and certified personal trainer. I’ve been writing about fitness and health for over 10 years.