The useful part
Edit Article Add New Article Close You have permission to edit this article. Edit Close Share This Facebook Twitter WhatsApp LinkedIn SMS Email Close Planet Fitness ended the second quarter with 2,930 locations. Facebook Twitter WhatsApp LinkedIn SMS Email Print Copy article link Save Planet Fitness CFO Chip Ohlsson says more landlords are interested in bringing the gym chain to their retail centers to attract weekday foot traffic.
How it works
- That's how mega-franchisee Flynn Group became a Planet Fitness operator in 2023, when it acquired 37-unit operator Alder Partners.
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- "There's a lot of other markets that we always identified and we always had intent on selling, but we wanted to see how the brand grew, where the brand grew and what our peer sets looked like," said...
- Bill Truslow Facebook Twitter WhatsApp LinkedIn SMS Email Print Copy article link Save Facebook Twitter WhatsApp LinkedIn SMS Email Planet Fitness ended the second quarter with 2,930 locations.
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What to take from it
"Because of that, we've done a refresh of that information and said, OK, here's an opportunity now to go out and relaunch … new ADAs. With Gulf Coast, McClure built a portfolio of 40-plus extended stay assets and is developing 30 Echo Suites by Wyndham extended stay hotels in Texas, Florida and Colorado. There was a problem saving your notification.
Example or evidence
- Planet Fitness, continued Ohlsson, expects to open more markets to new operators.
- Planet Fitness CFO Chip Ohlsson says more landlords are interested in bringing the gym chain to their retail centers to attract weekday foot traffic.
- Bill Truslow New entrants to the Planet Fitness system previously bought their way in by purchasing existing locations.
- With its acquisition earlier this year of Grand Fitness Partners and its 98 Planet Fitness gyms, Flynn Group became the fifth-largest franchisee in the system at 141 clubs.
Details worth keeping
So far this year, franchisees have opened 36 gyms. When Planet Fitness announced last month that it signed three new area development agreements with Ian McClure of Gulf Coast Hotel Management, it marked the first time in more than a decade that the franchisor opened ADAs to new franchisees who didn't join the system by way of acquisition. The high-value, low-price gym chain, which has more than 2,700 domestic locations and another 200 in international markets, is reassessing markets that previously weren't targets for expansion, said Chip Ohlsson, chief development officer.
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