PLANET FITNESS RANKED AMONG THE TOP FRANCHISES IN ENTREPRENEUR'S HIGHLY COMPETITIVE FRANCHISE 500®

On January 20, 2023, Planet Fitness announced its ranking as #28 overall and #1 in the fitness category in Entrepreneur's Franchise 500® for the fifth consecutive year.

Rhea-AI Summary

On January 20, 2023, Planet Fitness announced its ranking as #28 overall and #1 in the fitness category in Entrepreneur's Franchise 500® for the fifth consecutive year. This ranking reflects the company's strong performance in areas such as store growth, financial stability, and brand recognition. As of December 31, 2022, Planet Fitness boasted approximately 17 million members, an increase of 1.8 million from 2021. The company opened 158 new locations in 2022, reaching a total of 2,410 stores across multiple regions. CEO Chris Rondeau highlighted the brand's mission to democratize fitness, emphasizing its commitment to health and wellness.

Positive

• Ranked #28 in Entrepreneur's Franchise 500® and #1 in fitness category for five consecutive years.
• Increased membership to approximately 17 million, up 1.8 million from 2021.
• Opened 158 new stores in 2022, bringing total stores to 2,410.

Negative

• None.

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Brand ranked #28 overall, and #1 in Fitness Category for fifth year in a row

HAMPTON, N.H., Jan. 20, 2023 /PRNewswire/ -- Planet Fitness, one of the largest and fastest-growing franchisors and operators of fitness centers with more members than any other fitness brand, today announced it has been recognized as one of the top franchises in Entrepreneur's Franchise 500®, the world's first, best, and most comprehensive franchise ranking. Of the more than 1,000 brands that were considered and 500 that were recognized, Planet Fitness ranked #28 overall and #1 in the fitness category for the fifth year in a row for its high performance in areas including store growth, financial strength and stability, and brand power. Inclusion in Entrepreneur's Franchise 500® is highly sought-after in the franchise industry.

"We are thrilled to be recognized in Entrepreneur's Franchise 500® ranking and are particularly proud to lead the industry in the fitness category for the fifth consecutive year. This ranking is a true testament to the brand's strength, category leadership, continued growth, and our mission to democratize fitness and get the 80% of consumers without a gym membership off the couch and moving," said Chris Rondeau, Chief Executive Officer of Planet Fitness. "None of this would be possible without our hardworking team members and dedicated franchisees, who are passionate about helping people improve their lives through health and wellness."

In Entrepreneur's continuing effort to best understand and evaluate the ever-changing franchise marketplace, the company's 44-year-old ranking formula continues to evolve as well. Each franchise is given a cumulative score based on an analysis of more than 150 data points, and the 500 franchises with the highest cumulative scores become the Franchise 500® in ranking order.  

"The past year underscores the extraordinary opportunities that the franchise industry presents for entrepreneurs of all levels," says Entrepreneur editor in chief Jason Feifer. "The companies named to our 44th annual Franchise 500 ranking represent some of the most innovative, creative, and trusted brands across many industries and highlight what it takes to build the kind of momentum that drives long-lasting success."

As of December 31, 2022, Planet Fitness had approximately 17.0 million members, an increase of 1.8 million members since the end of 2021. In 2022, it placed equipment in 154 new franchised locations and opened 158 new stores including 14 corporate-owned locations, bringing system-wide total stores to 2,410.

Visit www.entrepreneur.com/franchise500 to view the full ranking, which can also be seen in the January/February 2023 issue of Entrepreneur, available on newsstands January 17^th.

About Planet Fitness

Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing franchisors and operators of fitness centers in the United States by number of members and locations. As of December 31, 2022, Planet Fitness had approximately 17.0 million members and 2,410 stores in 50 states, the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia. The Company's mission is to enhance people's lives by providing a high-quality fitness experience in a welcoming, non-intimidating environment, which we call the Judgement Free Zone®. Approximately 90 percent of Planet Fitness stores are owned and operated by independent business men and women.

 

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SOURCE Planet Fitness, Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is Planet Fitness's ranking in the 2023 Franchise 500?

Planet Fitness ranked #28 overall and #1 in the fitness category in the 2023 Franchise 500.

How many members does Planet Fitness have as of December 31, 2022?

As of December 31, 2022, Planet Fitness had approximately 17 million members.

How many new stores did Planet Fitness open in 2022?

Planet Fitness opened 158 new stores in 2022.

What is the significance of the Franchise 500 ranking for Planet Fitness?

The Franchise 500 ranking is highly regarded in the franchise industry, reflecting Planet Fitness's strong business performance and brand recognition.