Is Planet Fitness making money?

Planet Fitness is highly profitable. The company makes over 100 million dollars in 2019 and 2020. In 2020 income dropped compared to 2019, this was most likely due to the Covid-19 pandemic that was especially harsh on the fitness industry.

How is Planet Fitness doing financially?

First Quarter Fiscal 2022 results

Net income attributable to Planet Fitness, Inc. was $16.5 million, or $0.19 per diluted share, compared to $5.6 million, or $0.07 per diluted share, in the prior year period. Net income increased $12.2 million to $18.4 million, compared to $6.2 million in the prior year period.

How much does a Planet Fitness profit?

Net income attributable to Planet Fitness Inc. was $17.4 million, or $0.21 per diluted share, compared to a loss of $3.1 million, or $0.04 per diluted share, in the prior year period. Net income increased $21.9 million to $18.6 million, compared to a net loss of $3.3 million in the prior year period.

How do Planet Fitness owners make money?

Planet Fitness has a revenue model that makes money in six (6) ways – franchise royalty fees, membership fees, selling equipment to franchisees, National Advertising Fund (NAF) revenue, placement services, and vendor commissions.

Is Planet Fitness in debt?

Planet Fitness long term debt for 2021 was $1.74B, a 0.64% decline from 2020. Planet Fitness long term debt for 2020 was $1.751B, a 3.79% increase from 2019. Planet Fitness long term debt for 2019 was $1.688B, a 45.46% increase from 2018.

Planet Fitness CEO: A Streamlined Business Model | Mad Money | CNBC

Why is Planet Fitness so popular?

"Planet Fitness is exceptionally competitive because of its national footprint and growing awareness of its different approach to the market aimed at non-gymgoers," Cowen & Co.

Is Planet Fitness investment grade?

Grading Planet Fitness Inc Stock

AAII's proprietary stock grades come with A+ Investor. These offer intuitive A-F grades for each of five key investing factors: value, growth, momentum, earnings revisions and quality.

How much does a Planet Fitness owner make per year?

The simple answer to Planet Fitness being profitable is yes they are, their revenue continues to go up every year. As of 2018, the revenue range is 513,00 to 5,554,000 dollars; this was the annual gross calculated by the Electronic Transfer of Funds (ETF).

What is the most profitable gym franchise?

What does the average gym owner make?

How Much Money Can Gym Owners Make? As of January 14, 2021, ZipRecruiter reports the normal yearly compensation for an Exercise Center Proprietor in the U.S. is $65,685 per year. This breaks down to $1,263/week or $5,474/month. ZipRecruiter also indicates yearly salaries to be as high as $224,500 and as low as $15,500.

How much does it cost to buy a Planet Fitness franchise?

Planet Fitness's franchise fee is $10,000 for a 10-year renewable agreement, though the total investment ranges from $700,000 to $3.8 Million. Franchisees must also pay a 5% ongoing royalty fee on all sales to Planet Fitness. To open a gym, a franchisee must have of $3 million with $1,500,000 in liquid assets.

How much money did Planet Fitness make in 2020?

Fiscal Year 2020 Highlights

Total revenue decreased from the prior year by 41.0% to $406.6 million. Net income (loss) attributable to Planet Fitness, Inc. was a loss of $15.0 million, or $0.19 per diluted share, compared to income of $117.7 million, or $1.41 per diluted share, in the prior year.

Are gyms a good investment?

Market research across the USA shows that a gym owner of a medium-sized gym could earn around $150,000 per year. The general setup costs for a medium-sized gym is around $100,000. But your profits for the first financial year could be as little as $50,000.

How much money did Planet Fitness make in 2021?

Planet Fitness, Hampton, New Hampshire, reported 2021 revenue of $587 million, compared to $406.6 million in 2020, and fourth quarter 2021 revenue of $183.6 million, compared to $133.8 million in fourth quarter 2020, the company announced on Feb. 24.

Who is the owner of Planet Fitness?

Chris Rondeau Chief Executive Officer

Mr. Rondeau joined Planet Fitness in 1993, working the front desk at the very first location in Dover, NH, one year after the original founders, Michael and Marc Grondahl, started the Company in 1992. Today the brand has over 2,000 locations system-wide.

What is Chris Rondeau net worth?

The estimated Net Worth of Christopher Rondeau is at least $253 Million dollars as of 12 March 2020. Mr. Rondeau owns over 20,000 units of Planet Fitness Inc stock worth over $4,913,418 and over the last 6 years he sold PLNT stock worth over $243,446,345.

Do fitness franchises make money?

Yes, fitness franchises offer great profits but not as much as you might think. According to Investopedia, most franchise owners take home around $50,000 per year, but about 7% of franchise owners earn more than $250,000 per year.

Who are the largest Planet Fitness franchisees?

United PF became the largest Planet Fitness franchisee in November 2016 when it was formed by private equity groups JLM Financial Partners and Eagle Merchant Partners with the merger of several Planet Fitness franchisees. (Photo by AFP Contributor / Getty Images.)

Is owning an Anytime Fitness profitable?

The average Anytime Fitness location brings in about $441,116 in revenue per year, but a franchise owner can expect to make about $114,000 in profit after expenses. Anytime Fitness is the world's fastest-growing fitness club, according to the International Health, Racquet and Sportsclub Association.

How can I open a gym with no money?

How much does it cost to open a gym?

Think somewhere between $10,000 for a personal studio to $50,000 for a fully-equipped commercial gym. Be sure to shop around—and keep in mind you can often get a discount if you purchase the equipment in sets as a complete package. Certifications – having a professional, certified staff is a big plus.

How many franchises does Planet Fitness have?

2,200+ locations open (and we're just getting started!) Across 50 states and in Canada, Latin America, and Australia.

Will Planet Fitness stock go up?

Stock Price Forecast

The 15 analysts offering 12-month price forecasts for Planet Fitness Inc have a median target of 92.00, with a high estimate of 115.00 and a low estimate of 58.00. The median estimate represents a +29.52% increase from the last price of 71.03.

Is Planet Fitness a public company?

Michael Grondahl, co-founder of Planet Fitness stepped down as CEO, and was succeeded by Chris Rondeau. The company went public on August 6, 2015.

Who is Planet Fitness competitors?

Planet Fitness competitors include Rite Aid, ClassPass, LA Fitness, Mountainside Fitness and ANYTIME.