The Wall Street Journal had a story today about the success that Planet Fitness is currently experiencing.
Planet Fitness’s revenue has increased more than 30% over the past year and its valuation has nearly quadrupled to about $6.2 billion since it went public in 2015. The chain has more than 12.5 million members and operates over 1,700 locations with the goal of ultimately running 4,000 sites.
Not too shabby for a no-frills gym that charges just $10 per month.
We’ve been members of Planet Fitness for a few years now, and I love it.
And I’ve written about the place several times.
One of my earliest posts – “Why Don’t We Do Things That Are Good for Us?” made mention of Planet Fitness:
One that always gets me is the opportunity to join Planet Fitness. $10 a month, $30 annual renewal fee. Total cost, $150 per year. My company’s health insurance plan will reimburse up to $150 per year in gym membership fees to anyone who joins a gym and makes at least 120 visits per year. So that makes my Planet Fitness membership FREE! Plus, it’s a great incentive to get at least 120 workouts in per year. However, most people I tell about this, don’t do anything about it.
There’s no doubt Planet Fitness is targeting a certain segment of the population, but that’s just Marketing 101. Yet it seems to bother a lot of people.
If you read some of the comments to this article, there are many that say things like the following:
“Planet Fitness is a joke.”
“Planet Fitness isn’t a real gym.”
“Planet Fitness is not for people serious about their fitness.”
Of course, I disagree with every one of those comments.
I can get a great workout in at Planet Fitness, whether it’s for cardio or strength training. Plus the place is always clean and the equipment always seems to be in working condition.
Now I’m not training for a Mr. Universe or World’s Strongest Man competition, but apparently, a lot of subscribers to the Wall Street Journal are. And for those people, yes, you may need a gym that has more equipment and caters to that population. If that’s what you want, that’s great. I’m not going to criticize you for wanting to get in a good workout, yet many of those individuals seem to want to pick on people going to Planet Fitness.
Can’t we just admire and encourage people that are engaged in a fitness routine wherever they do so? Why do people need to be snobs about where they work out?
Yes, Planet Fitness has a pizza day and a bagel day once a month, and tootsie rolls every day. But as I wrote in a previous post, there may be some psychology behind such perks.
So kudos to Planet Fitness for coming up with a successful business model, and I wish you continued success. My only suggestion would be to drop the “No Judgment Zone” stuff, since to me that in and of itself seems to suggest some sort of judgment.
So for all you Planet Fitness haters out there, all I can say is “Stay in your lane, bro.”
P.S. My Planet Fitness just updated all its strength training equipment to the Matrix brand – so far I’ve been quite impressed.