Planet Fitness shares have increased 200% over the past year despite the pandemic. Planet Fitness CEO Chris Rondeau says the gyms are following local guidelines in terms of enforcing coronavirus restrictions. He joins 'Closing Bell' to discuss.
Pack your gym bag with trainer Teddy! He’ll go over all his go-to staples and give you an idea of what to bring to your club.
- Membership was up in Jan 2021 over Dec 2020.
- Jan 2021 usage was 70% of Jan 2020 usage.
- 4% of new joins come from gyms that have closed.
- 41 new Planet Fitness stores were opened system-wide during the period, bringing system-wide total stores to 2,124 as of December 31, 2020.
- 130 new Planet Fitness stores were opened system-wide during the year, bringing system-wide total stores to 2,124 as of December 31, 2020.
- 18 month extension for Franchises on re-equipment investment obligation.
- Current view 75 - 100 new stores guided for opening in 2021 but fluid due to Covid. New development will be modest. Back up to 200 per year hopefully in future, a question of when and not what if?
- System-wide same store sales decreased 10.6%. By segment, franchisee-owned same store sales decreased 10.6% and corporate-owned same store sales decreased 11.7%.
- Mobile App is in the Top 3 for Health and Fitness App Stores.
- 41% of Membership has downloaded the app. Driving usage due to membership.
- Service the Members at home in a full circle wellness journey. Trying to be a one stop shop for app usage adding yoga, meditation and nutrition. Geared content for the people who are first time gym goers.
- App Usage for those using the QR Codes on Machines, workout time length, visit usage providing data to help track journey of Members and will be able to guide future signups in their journey by using this data.
- PF+ app 20% subscribers are non-PF brick and mortar members. 25% of those joined a brick and mortar member.
- PF+ taking this time to see what content/trainers are being consumed the most. It’s real time learning for them as they add more content over time.
- Acquisition through app with conversion rates and upgrades to Black Card via app.
- Revenue share for the app is still being worked out with the franchisees so it’s a win-win. All or portion of app revenue.
- The opportunity for merchandise sales through the app i.e. bands for exercise, nutrition items and other merchandise is being looked at.
*These are quick takeaways from listening in on the Earnings Call and Press Statements. Forward-looking statements are not assurances of future performance. Instead, they are based only on the Company's current beliefs, expectations and assumptions regarding the future of the business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Company's control.
After reducing marketing spend during in the early months of the coronavirus pandemic, Planet Fitness CEO Chris Rondeau said customers have responded to the company's advertising revival.
Tune in for the last workout of 2020! PF Trainer Teddy Savage is leading this full-body workout right from Times Square.
Grab your family and friends and get ready for this workout you can do from home, but don’t forget your New Year’s Eve props! There’s no better way to ring in 2021 than with Confetti Popper Hop Jacks, Beach Ball Leg Lifts, and NYE Hat high knees. Get ready to get saucy with Teddy as he leads a full-body NYE-themed workout!
Want to keep moving? Join Planet Fitness on Facebook Live every Monday through Friday at 7pm ET. You can also find more workout videos like this one on our YouTube channel. If you’re looking to take your home workouts to the next level, download the Planet Fitness app for tons of simple exercises.
Learn More: https://www.planetfitness.com/united-...
Catch Live Videos: https://www.facebook.com/planetfitness/
Busy working? That doesn’t mean you can’t work out! Join PF Trainer Corey and take advantage of this 20-minutes, seated workout you can do at your home desk. This short workout is perfect for those long days at home. We’ll be working that full-body with exercises like arm raises, reach downs and Russian Twists so you can get a leg-up on those coworkers snoozing on conference calls! Want to keep moving? Join Planet Fitness on Facebook Live every Monday through Friday at 7pm ET. You can also find more workout videos like this one on our YouTube channel. If you’re looking to take your home workouts to the next level, download the Planet Fitness app for tons of simple exercises.
Learn More: https://www.planetfitness.com/united-...
Planet Fitness has more than 2,000 locations in all 50 states. Some states like Minnesota announced it will close all bars and restaurants for indoor dining as well as gyms for the next four weeks. CEO of Plant Fitness Chris Rondeau says there have been people canceling their gym memberships but it hasn't been as steep as expected. He joins 'Closing Bell' to discuss his outlook on gyms.
The pandemic has dramatically changed the way Americans fulfill their physical fitness needs. As the nation's largest gym chains were forced to shutter, the world of fitness is rapidly adapting to attract gym goers with new implementations, such as social distancing measures in gyms, digital fitness programs, and even selling home equipment such as stationary bikes and treadmills. Redefining physical fitness in a socially-distant world has been the key, but can these new trends last?
We’re so excited to see you all back in the Judgement Free Zone®! As we welcome you back, we’re doing our part as the Clean Thumb Club to keep clubs squeaky clean. However, an extra hand is always helpful!
Check out the steps below on how you can be Cleansiderate®. Keep an eye out for cleaning stations throughout the club that are stocked with disinfectant spray and paper towels. We ask that you wipe down any and all equipment before and after use!
Next, make sure to scrub up and wash your hands for 20 seconds before working out and after. These steps will ensure that you and other members around you can all gym confidently while in the club. We look forward to seeing you and welcoming you back into the Clean Thumb Club!
We’re so excited to welcome in our clubs! We ask that you keep a few things in mind so that we can continue to help you gym confidently in the Judgement Free Zone®.
First, we ask that you check the Crowd Meter in the PF app before you hit the gym. It’ll let you see just how many people are at your club in real time and help you practice Social Fitnessing®.
When you’re in-club, you’ll also find floor decals and sign helping you to keep a safe distance from other members. You also might notice every other cardio machine powered down. That’s because we’re practicing Cardio Distancing®! Following these steps will ensure that you have a great workout and that you’re able to focus on feeling good!