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Is Planet Fitness Private Equity Owned?
🟡 FORMERLY PE OWNED
Planet Fitness
Includes PlanetFitness
gym chain · Hampton, NH
PE Firm
TSG Consumer Partners
Year Acquired
2013
“The $10 gym that PE turned into a $15 gym — a 50% hike they called 'evolution.'”
What Happened
- •TSG Consumer Partners acquired majority stake in 2012 for $505 million; co-founder stepped down as CEO shortly after
- •Taken public in 2015, shifting focus from member experience to shareholder returns
- •Raised the iconic $10/month 'Classic' membership to $15 in 2024 — the first price hike in 26 years, a 50% increase
- •Black Card membership rising to $29.99/month (from $24.99), announced for 2026
The Damage Done
- ▸Raised the iconic $10/month 'Classic' membership to $15/month in summer 2024 — a 50% price hike and the first increase in 26 years
- ▸Black Card membership rising to $29.99/month from $24.99 — a 20% increase
- ▸Billing and cancellation practices widely described as 'predatory' and 'impossible to cancel' — members report being charged months after canceling
- ▸The average Planet Fitness location now has 7,262 members sharing a gym designed for 200–350 people at a time — the business model depends on most members never actually showing up
Sources
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AEA InvestorsEquinox
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Frequently Asked Questions
Is Planet Fitness owned by private equity?
Not anymore. Planet Fitness was formerly owned by TSG Consumer Partners starting in 2013, but the firm has since exited. The effects of PE ownership often linger.
What happened to Planet Fitness after the acquisition?
Raised the iconic $10/month 'Classic' membership to $15/month in summer 2024 — a 50% price hike and the first increase in 26 years Black Card membership rising to $29.99/month from $24.99 — a 20% increase
Who owns Planet Fitness?
Planet Fitness is owned by TSG Consumer Partners, which acquired it in 2013.