Planet Fitness Hits the 500 Mark

Planet Fitness has announced that they have opened their 500th club in Morton Grove, IL. In the past 11 months, Planet Fitness has succeeded in opening 100 clubs, with another 100 clubs projected to open in 2012.

The company began franchising in 2003 when it consisted of just four clubs in New Hampshire, showing that it has come a long way in a short amount of time.

"I thought at the time that maybe we'd end up the biggest loser," Planet Fitness CEO and co-founder Mike Grondahl said in a statement. "But 500 gyms ain't half bad."

The company, boasting more than 3.5 million members in the United States and Puerto Rico, was number 7 on Club Industry's Top 100 Club list in 2011 and reported $157.1 million in revenue in 2010.

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