Planet Fitness was founded by Michael Grondahl in 1992 when he purchased a struggling gym and dramatically lowered prices in order to compete with bigger name fitness clubs. Planet Fitness differs from other clubs as they focus on the needs of newcomers as well as those who might have a more difficult time exercising for various reasons and the member who only comes in occasionally. Each Planet Fitness offers “Bagel Morning”, “Pizza Night”, and Tootsie Rolls are always available.
Planet Fitness now has more than 1,400 locations in 48 states and in the early part of 2015, they opened their first international location in Toronto, Canada.
The company is listed as #14 on the Entrepreneur List of Fastest Growing Franchises in America. The company has third party relationships to help finance start up costs and equipment. Planet Fitness is publicly traded on the New York Stock Exchange under the ticker symbol PLNT.