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Insights From Planet Fitness On Its Response to the COVID-19 ...

Planet Fitness
United We Move
New England Patriots
Club Industry
Questex LLC
MA 01701

Julian Edelman
Erica Lugo
Jerry O'Connell
Chris Rondeau


the Planet Fitness App

Speen Street
Suite 300

New Hampshire

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The New York Times
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As a result, the company has seen a 173 percent increase in average daily workouts on its mobile app.Looking ahead, the goal of Planet Fitness is to ensure that the company comes out of the COVID-19 situation with the same club count and member count it had pre-COVID-19, Planet Fitness CEO Chris Rondeau told the analysts during the May 5 call.“Our current focus is on creating and maintaining a healthy, safe environment inside our stores for our team and our members for when they reopen,” he said.The company is developing a COVID-19 operational playbook of more than 100 pages to address areas such as enhanced standardization policies, procedures, contact reduction between team members and members, physical distancing and more. Several of the franchisee groups received government assistance through the SBA Payroll Protection Program to help cover their day-to-day expenses.Some franchisees are continuing to pay a portion of their workforce, while others have temporarily furloughed many of their employees, Lively said.Planet Fitness is being flexible on equipment replacement and store remodel requirements of franchisees and will continue to be flexible over the near term as is deemed necessary, he said.The economic impacts of temporary business closures due to COVID-19 have affected both existing and near-term construction projects for Planet Fitness, leading Lively to say that Planet Fitness would not be able to provide guidance of the company’s performance for the remainder of the year until cities and states reopen and a better evaluation can be done.However, he said that the team anticipates that expansion will ramp slowly once the company and the country emerge from this crisis. That said, we believe the impact from COVID-19 on the real estate industry will provide a more favorable real estate environment for the Planet system over the long term as we continue to buildout toward 4,000 locations in the U.S.”Rondeau also acknowledged the difficulty of predicting the impact of COVID-19 on the industry and the country’s economy.“However, based on several factors such as the strength of the Planet Fitness brand, our differentiated business model, our attractive price points and welcoming non-intimidating store environment, our great group of employees and franchisees, and an increased focus on the importance of health and wellness, I'm confident we will emerge from this period well-positioned to further expand our leadership role in the fitness industry,” he said.Club Industry shares some of the reopening protocols in place for some of the industry's health club brands.

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