Planet Fitness feeling a little out of shape after The Wall Street Journal called out the gym chain for being too bulked up.
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According to the journal, an economic slowdown could shred the “Judgement Free Zone” valuation where members can work out without feeling as if they are being ridiculed for their appearance or the way they exercise.
The gym chain seems to prefer members who like the idea of exercise versus actually going to the gym to work out.
At only $10 a month, the paper reports many members barely show up - and the hassle of canceling a membership is daunting to some people.
Planet Fitness generates revenue from the seven percent royalty fee it charges franchisees, a two percent bump from the five percent fee in 2017, according to The Journal. The gym is one of the largest and fastest-growing franchisors and operators of fitness centers in the U.S. with 95 percent of ownership attributed to independent businessmen and women.
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After plummeting 10-percent following its earnings report last week, Planet Fitness' stock fell three and a quarter of a percent by the end of the trading day Monday.