NEWINGTON, N.H. - June 30, 2016 // PRNewswire // - Planet Fitness, Inc. (NYSE: PLNT), one of the largest and fastest-growing franchisors and operators of fitness centers in the U.S., ranked No. 4 on Forbes annual list of America's Best and Worst Franchises in the category of best franchises with an initial investment of $500,000 and over.
"We are thrilled to be acknowledged as one of the best franchises in America," said Planet Fitness' Chief Executive Officer, Chris Rondeau. "The ranking further demonstrates that our easy-to-operate model, strong store-level economics and brand strength make for a highly attractive franchise system built for growth; one that has enabled us to attract a team of passionate, successful franchisees from a variety of industries."
In 2015, Planet Fitness opened 209 new clubs with more than 90% opened by the existing franchisee base. As of March 31, 2016, Planet Fitness franchisees have signed ADAs to open more than 1,000 additional stores over the next five years. The streamlined model features relatively fixed labor costs, minimal inventory, automatic billing and limited cash transactions with stores that are successful across a wide range of geographies and demographics with varying population densities. Planet Fitness also recently earned the number one position on the Franchise Times "Fast & Serious" list, which ranks the smartest-growing franchise brands that have staying power.
Forbes commissioned industry research firm FRANdata to develop the methodology that ranks emerging and mature franchise brands on "health and appeal" from the perspective of franchisees to create their annual ranking. FRANdata ranked brands according to the price of admission in three categories: up to $150,000; between $150,001 and $500,000; and $500,000 and up. FRANdata looked at five-year growth rates and five-year continuity rates, a measure of how often an individual franchise has changed hands, among other factors, to make its determination. One addition to this year's methodology is value for investment, a component that assesses unit economics and return on investment.
For more information about franchise opportunities at Planet Fitness visithttp://www.planetfitness.com/franchising.
Founded in 1992 in Dover, N.H., Planet Fitness (NYSE: PLNT) is one of the largest and fastest-growing franchisors and operators of fitness centers in the United States by number of members and locations. With more than 1,100 locations in 47 states, the District of Columbia, Puerto Rico, Canada and theDominican Republic, Planet Fitness' 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 90% of Planet Fitness stores are owned and operated by independent business men and women.
SOURCE Planet Fitness, Inc.