Planet Fitness Reaches 2,000th Store Milestone

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Jan 06, 2020, 16:15 ET

HAMPTON, N.H., Jan. 6, 2020 /PRNewswire/ -- Planet Fitness, Inc. (NYSE: PLNT), one of the largest and fastest-growing global franchisors and operators of fitness centers with more members than any other fitness brand, today announced that it has opened its 2,000th location in Colorado Springs, Colorado on E. Woodmen Rd. on December 31st, 2019. The Company also opened its 2,001st store on December 31, 2019, bringing its 2019 total store openings to a record 261.

"I am proud to announce this milestone, which demonstrates how our judgement free, affordable approach to fitness continues to resonate with consumers and the tremendous work being done every day across our system by our franchisees, their team members on the front lines, and our corporate employees," said Chris Rondeau, chief executive officer of Planet Fitness. "2019 has been a milestone year of growth for us; with more Planet Fitness locations opened than in any year in our history, and I believe we are just getting started. Beyond our own benchmarks for success, when compared to the industry, our growth is incredible and we continue to see an opportunity to double our domestic store count over time and bring fitness to even more people's backyards."

Rondeau continued, "This milestone wouldn't be possible without the passion and determination of our experienced franchisees who are bullish on aggressive, thoughtful expansion in both new and existing markets. I am excited about the growth opportunities that lie ahead, and together we continue to fulfill our shared mission of bringing non-intimidating, affordable, and accessible fitness to all."

To celebrate the New Year, now through January 9, new members can join any Planet Fitness location nationwide for only 20 cents down and then $10 a month. To learn more about the Judgement Free Zone™, find a club, or join online, visit PlanetFitness.com.

A leader in the fitness industry and franchising, Planet Fitness was named to Fortune magazine's 2019 '100 Fastest-Growing Companies' list and Forbes 2019 list of 'America's Best Franchises'. Additionally, the Company also placed ninth on Entrepreneur's 2019 'Fastest Growing Franchises' list, which measures companies' ability to scale fast and take their franchisees to the next level, and seventh on Entrepreneur's 2019 'Franchise 500' list. Planet Fitness offers extremely low membership fees starting at just $10 a month, a high-quality experience, and a variety of benefits, including a hassle-free, non-intimidating environment, free fitness training included with every membership, brand name cardio and strength equipment, fully-equipped locker rooms, flat screen televisions and much more.

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 September 30, 2019, Planet Fitness had more than 14.1 million members and 1,899 stores in 50 states, the District of Columbia, Puerto Rico, Canada, the Dominican Republic, Panama and Mexico. 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®. More than 95% of Planet Fitness stores are owned and operated by independent business men and women.

Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the federal securities laws, which involve risks and uncertainties. Forward-looking statements include the Company's statements with respect to expected future performance in this press release and other statements that do not relate solely to historical facts. Forward-looking statements can be identified by words such as "plan," "will," "continue to," "future," and similar references to future periods, although not all forward-looking statements include these identifying words. Forward-looking statements are not assurances of future performance. Instead, they are based only on the Company's current beliefs, expectations and assumptions regarding the future of the business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Company's control. Actual results and financial condition may differ materially from those indicated in the forward-looking statements. Important factors that could cause our actual results to differ materially include risks and uncertainties associated with competition in the fitness industry, the Company's and franchisees' ability to attract and retain new members, the Company's and franchisees' ability to identify and secure suitable sites for new franchise stores, changes in consumer demand, changes in equipment costs, the Company's ability to expand into new markets domestically and internationally, operating costs for the Company and franchisees generally, availability and cost of capital for franchisees, acquisition activity, developments and changes in laws and regulations, our substantial increased indebtedness as a result of our refinancing and securitization transactions and our ability to incur additional indebtedness or refinance that indebtedness in the future, our future financial performance and our ability to pay principal and interest on our indebtedness, our corporate structure and tax receivable agreements, failures, interruptions or security breaches of the Company's information systems or technology, general economic conditions and the other factors described in the Company's annual report on Form 10-K for the year ended December 31, 2018, and the Company's other filings with the Securities and Exchange Commission. In light of the significant risks and uncertainties inherent in forward-looking statements, investors should not place undue reliance on forward-looking statements, which reflect the Company's views only as of the date of this press release. Except as required by law, neither the Company nor any of its affiliates or representatives undertake any obligation to provide additional information or to correct or update any information set forth in this release, whether as a result of new information, future developments or otherwise. All forward-looking statements attributable to us are expressly qualified by these cautionary statements.

SOURCE Planet Fitness, Inc.