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Planet Fitness Domination Has Only Just Begun

PF-logo-registeredBrian Sozzi of The Street reports:

You won’t find jacked, sweaty bodybuilders pumping iron at Planet Fitness, nor will you find skinny folks sipping drinks from the juice bar. That’s by design, according to Dorvin Lively, CFO at the rapidly growing gym chain.

Planet Fitness was founded by Mike Grondahl in 1992 as a welcoming place to work out at prices more affordable than upscale competitors Lifetime Fitness (LTM_) and Town Sports International (CLUB_). The business attracts people who have never gone to a gym before, benefitting from the movement by the general population toward a healthier, more active lifestyle. The U.S. has 32,000 health clubs, according to industry research firm IHRSA. More than 62.1 million Americans used a health club in 2013. Since 2008, U.S. health club memberships have risen 16%, with growth clocking in at 5.3% in 2013.

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Forbes Magazine Ranks Planet Fitness as the 3rd Best Franchise to Invest In

Forbes-best-and-worst-300x261Forbes magazine rated the best and worst franchises to invest in.

Planet Fitness was Ranked Third best!

Here are the numbers Forbes represented:

No. 3 Planet Fitness

Bulks up muscles and memberships at its “judgement free” health clubs.

Average Initial Investment: $1,980,150
Initial Training Hours: 80
Growth rate: 26%
Continuity: 93%
Franchisor Support: A