In the competitive fitness market, the dominant firms are diversified and nimble, say karenkkwok, jennifersaba and alpgomez.
, backed by actor Mark Wahlberg, has shown. The company is franchised, and the number of chains increased considerably in 2021 after the pandemic and continued to grow in 2022. But as the business has expanded, visits to the gym hasn’t gone up as much. In the first nine months of this year, the number of total franchises rose 22% while system-wide visits to the gym are up just 10%.
Peloton has quickly tried to pivot back to being asset-light. But it competes with the likes of Barry’s and F45 now, and the in-home workout is a supplement rather than the go-to. The number of members that the company had fell in the first quarter of its fiscal year, which ended in September. Losses are widening, and it continues to burn through cash. If its most recent quarter’s operating cash burn of around $200 million were annualised, it would run out of dough in five quarters.
Part of the appeal is its $10 a month basic membership fee – which hasn’t changed – that Planet Fitness primarily collects through electronic funds transfers. It’s cheap enough that people may not always notice, or care. And that apathy shows up in Planet Fitness’s investor day transcript: 50% of its members haven’t used a club in a 30-day period.
. Still, with solid and regular profits and a reasonable amount of debt, Planet Fitness has staying power, even if shareholders lose their shirts while its valuation comes in line.has 10 different brands that include Club Pilates and Pure Barre, a brand whose workout includes micro, ballet-type moves, for those who want to exercise more discreetly.
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