Planet Fitness Ranked Among the Top Franchises in Entrepreneur’s Highly Competitive Franchise 500
Posted: January 18, 2023 in Chains
Planet Fitness
HAMPTON, N.H. – Planet Fitness, one of the largest and fastest-growing franchisors and operators of fitness centers with more members than any other fitness brand, announces it has been recognized as one of the top franchises in Entrepreneur’s Franchise 500, the world’s first, best and most comprehensive franchise ranking. Of the more than 1,000 brands that were considered and 500 that were recognized, Planet Fitness ranked #28 overall and #1 in the fitness category for the fifth year in a row for its high performance in areas including store growth, financial strength and stability, and brand power. Inclusion in Entrepreneur’s Franchise 500 is highly sought-after in the franchise industry.
“We are thrilled to be recognized in Entrepreneur’s Franchise 500® ranking and are particularly proud to lead the industry in the fitness category for the fifth consecutive year. This ranking is a true testament to the brand’s strength, category leadership, continued growth, and our mission to democratize fitness and get the 80% of consumers without a gym membership off the couch and moving,” said Chris Rondeau, Chief Executive Officer of Planet Fitness. “None of this would be possible without our hardworking team members and dedicated franchisees, who are passionate about helping people improve their lives through health and wellness.”
In Entrepreneur’s continuing effort to best understand and evaluate the ever-changing franchise marketplace, the company’s 44-year-old ranking formula continues to evolve as well. Each franchise is given a cumulative score based on an analysis of more than 150 data points, and the 500 franchises with the highest cumulative scores become the Franchise 500® in ranking order.
“The past year underscores the extraordinary opportunities that the franchise industry presents for entrepreneurs of all levels,” says Entrepreneur editor in chief Jason Feifer. “The companies named to our 44th annual Franchise 500 ranking represent some of the most innovative, creative, and trusted brands across many industries and highlight what it takes to build the kind of momentum that drives long-lasting success.”
As of December 31, 2022, Planet Fitness had approximately 17.0 million members, an increase of 1.8 million members since the end of 2021. In 2022, it placed equipment in 154 new franchised locations and opened 158 new stores including 14 corporate-owned locations, bringing system-wide total stores to 2,410.
Visit www.entrepreneur.com/franchise500 to view the full ranking, which can also be seen in the January/February 2023 issue of Entrepreneur,
