The Sabadell location marks the beginning of the Planet Fitness’ ambitious growth plan in Spain and across Europe
Big box gym giant Planet Fitness has broken ground in Spain, opening its first club in Sabadell as part of its strategic growth plan in Europe.
The popular high-value, low-price (HVLP) fitness franchise confirms that the first stores will be a joint venture with a franchisee partner, while the remainder of the market will be franchised.
Earlier this year, Planet Fitness executives announced plans to open 300 locations in Spain, using the experience as a springboard to explore other European markets. Planet’s expansion into Spain follows its widespread presence in all U.S. states as well as Puerto Rico, Canada, Panama, Mexico and Australia.
“Today, only 10% of the Spanish population has a gym membership so this is an incredible opportunity to bring our brand and unique model to Europe,” said new Planet Fitness CEO Colleen Keating. “At Planet Fitness, we are proud to provide a high-value, affordable fitness experience where people don’t feel intimidated to start their fitness journey. We believe our Judgement Free environment will resonate in Spain and beyond as we continue to strategically grow our footprint globally.”
Keating added that Planet Fitness is leveraging its strong balance sheet to drive growth at a faster pace and demonstrate proof of concept in new markets.
The ‘Judgement Free’ fitness brand is in the middle of a self-proclaimed transition year, one that includes a $5 price hike for its basic membership, which Planet Fitness increased to $15 per month, up from its long-running $10 price tag. Analysts say the move could bring a slew of benefits, including increased member retention and a boost in premium membership sign-ups.
Vicente Bañobre, who is leading Planet’s operations and expansion in Spain, noted the strong growth potential in the country for the fitness franchise.
“We’re thrilled to offer an affordable fitness solution and best-in-class member experience to the Sabadell community,” Bañobre said.
