Planet Fitness, Inc. · NYSE:PLNT
Planet Fitness — Investor Day (November 2023)
20 slides from Planet Fitness's investor day presentation, Nov 7, 2023
Slide 1: Planet Fitness
planet fitness > Breaking down barriers for 30 years y PP,
Slide 2: Forward-looking statements
This presentation contains “forward-looking statements” within the meaning of the federal securities laws, which involve risks and uncertainties. Forward-looking statements include the Company’s statements under the heading “Future Growth Model” as well as other statements by members of the Company’
Slide 3: New Growth Model
New Growth Model
Slide 4: External pressures on store returns
External pressures on store returns 4 Cost to build a new Planet Fitness club and interest rates have increased significantly since 2019 Slower ramps for cohort of clubs built from 2019 to 2022 due to COVID; drag on franchisee portfolio economics Increasing store operating expense (payroll, utilitie
Slide 5: What's changing
What’s changing Franchise Agreement Remodels Re-equips Initial Investment Area Development Agreement Join Fees
Slide 6: Franchise Agreements
Franchise Agreements.
Slide 7: Franchise agreement: previous vs future
Previous Future 10-year Franchise Agreement $20K Initial Fee Remodel at Renewal – Year 10 $20K Renewal Fee 12-year Franchise Agreement $0 Initial Fee Remodel at Renewal - Year 12 $20K Renewal Fee
Slide 8: Remodels
Remodels
Slide 9: Remodel extension timing for stores built before 2016
Remodel extension different for stores built before standard design instituted (2016) 2023 2026 20282025 2026 2027 20302028 2029 2024 2025 2030 - 20332029 2032 - 203520312024 Fu tu re Pr ev io us 3 +1 +2 2027
Slide 10: Re-equips
Re-equips
Slide 11: Cardio and strength re-equip years: previous vs future
Previous Future Cardio Re-Equip Year 5 Strength Re-Equip Year 7 Cardio Re-Equip Year 5, 6, 7* Strength Re-Equip Year 7, 8, 9* *Determined based on club usage
Slide 12: Initial Investment
Initial Investment
Slide 13: New store and remodel capital reduction
Previous Future New Store Capital ~$3m Remodel ~$1m Targeted 5-10% Reduction for New Store Investment* Targeted 5-10% Reduction for Remodel *Inclusive of initial franchise fee
Slide 14: Area Development Agreements
Area Development Agreements
Slide 15: Grace and cure periods: previous vs future
Previous Future Limited 12-month grace periods 30-day cure periods No grace periods 6-month cure periods
Slide 16: Join Fee
Join Fee
Slide 17: Join fee: previous vs future
Previous Future Web join fee Digital out of club $5 Percentage-based fee for all joins All join channels
Slide 18: New Growth Model
New Growth Model
Slide 19: Franchisee capital timing
Franchisee capital timing Fu tu re Pr ev io us Strength re-equip timing does not coincide with franchise agreement renewal Two consecutive years of club disruption Remodel & re-equip in year 24 • Reduces number of remodel/re-equip events from 7 to 6 in first 24 years • Remodel/re-equip timing does n
Slide 20: Contact Investor Relations
Contact Investor Relations: Stacey Caravella investor@planetfitness.com