| Jim Coen
| Jul 17 | Service
Planet Fitness, the budget gym franchise, filed an S-1 for an initial public offering on June 22, 2015. While the company did not specify number of shares and price, the Planet Fitness' prospectus detailed an approximate offering size of $100 million. The company applied to list on the New York Stock Exchange under the ticker "PLNT." The IPO could value Planet Fitness at more than $2 billion, including debt.
In its filing, Planet Fitness is the largest U.S. fitness center operator, with over 7 million subscribers. The gym currently had close to 1,000 locations, 919 of which are own by franchisees (92% franchised units).
That would be an average of 7000 members per location. Even at $10.00 per member per month that sounds like a profitable $70,000 per month in...