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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. They called the 50% hike 'evolution.'

What Happened

  1. TSG Consumer Partners acquired majority stake in 2012 for $505 million; co-founder stepped down as CEO shortly after
  2. Taken public in 2015, shifting focus from member experience to shareholder returns
  3. Raised the iconic $10/month 'Classic' membership to $15 in 2024 — the first price hike in 26 years, a 50% increase
  4. Planned to raise Black Card membership to $29.99/month (from $24.99) in 2026, then paused the national rollout in May 2026 after member growth stalled

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 was set to rise to $29.99/month from $24.99 — a 20% increase — before Planet Fitness paused the national rollout in May 2026 when member growth stalled
  • 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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What people ask

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 was set to rise to $29.99/month from $24.99 — a 20% increase — before Planet Fitness paused the national rollout in May 2026 when member growth stalled

Who owns Planet Fitness?

Planet Fitness is owned by TSG Consumer Partners, which acquired it in 2013.

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