Planet Fitness The company also had to close its doors for months, but unlike its competitors, the company is ready to sprint past the competition after the pandemic ends.
The gyms had to close in March 2020 to curb the spread of Covid-19. This crippled the fitness industry, which is a US $ 32 billion market with more than 41,000 gyms and 64 million members. In some states, gyms were one of the last companies to reopen.
Before the Coronavirus pandemic beat, Planet Fitness 53 consecutive quarters of positive sales growth in the same business. However, analysts say that without the launch of a vaccine, it could be the end of 2021 for the company to hit prepandemic levels profitability. The company didn’t provide any guidance on its business for the rest of the year.
Despite the difficult situation in the fitness industry, can Planet Fitness actually stay ahead of the curve? And what does social distancing mean for the future of training?