Back to search
🟡 FORMERLY PE OWNED
Planet Fitness
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