C'mon Paul. You have way too much muscle to NOT know hypertrophy can easily be achieved at the Planet.Those little $10 and $20 monthly memberships are the source of some serious financial gains. CEO Chris Rondeau told CNBC today that the company is at 97% of their peak membership pre-pandemic (around 15 million bad motherfuckers). Plus hundreds of franchises are re-opening their royal workout warehouses and growing immediately. PLNT has shot up 15.4% in the last two days toward a record close Friday, and after today's training session, I am going long on the stock. I feel as solid on the move as my shoulders did after handstand walks today. However, a large value shift among millennial consumers of the fitness industry has to account for much of their current success. And really why I am excited to invest. The 2010's dominated the ambition of athletic endeavorers with goals of muscle hypertrophy, strength gains, or cardiovascular endurance. But when the pandemic began, leisure activity industries like golf continued to flourish in popularity for their proximity to peak pro performance. I believe in turn, millennials began to value their fitness and gym membership as a means to an otherwise athletic end. Consider the general makeup of the millennial fitness consumer. The average millennial already spends over $30/month for their gym membership. 7 billion as a generation. Not to mention millions more on supplements, meal prep and plans, and ineffective recovery modalities. However, to a generation that deeply cares for their mental health, the pandemic caused many to create or accept new opportunities to chase the same feeling as going to the gym six days a week. But when someone begins to prioritize differently, money is always part of the equation. And hobbies are typically more expensive than $10-$20 a month. So for example, cancelling a subscription to your favorite but admittedly ineffective supplement stack, and cancelling Hello Fresh is far more effective to create the necessary cash for several golf rounds a month. I anticipate Planet Fitness will attract these consumers in droves the rest of the decade. To continue on the golf tangent, think about the consumer going from LifeTime Fitness to the judgement free zone. The warehouse gym model with New Hampshire roots has nearly everything LifeTime does for a quarter of the monthly price; but the point is-they will always have the majority of what they could need to train for general physical conditioning https://twitter.com/planetfitness/status/629262862347816960?lang=en
No thank you Chris-for all those long nights at the front desk.Thank you brother.I'd be interested to know from readers that are sensing this value pull, or are already making shifts like this. For example, the mountain climber enthusiast who understands the need for pull up bars for dead hangs, but isn't interested in the sauna or personal training packages. Maybe the runner who realized their foot strength over hex bar deadlifts will win them ultramarathons, and all they need is 30 minutes a day to maintain their arch. Or the mom of two who is simply disinterested in anything but her family and bowling league but needs a place to focus on wrist gains. Let me know!