Planet Fitness announced last week it will move its headquarters from Newington, New Hampshire, to nearby Hampton, New Hampshire, by spring 2017, according to a report by the New Hampshire Union Leader. The company started in 1992 in Dover, New Hampshire, and moved to Newington in 2010.
The new headquarters will be situated within a 70,000-square-foot building at 4 Liberty Lane, with a fitness center and a cafe occupying 4,000 square feet.
In a statement obtained by seacoastonline.com, Planet Fitness CEO Chris Rondeau said he is “thrilled” the company will continue operating out of New Hampshire.
“As we continue to grow the business and add top-notch talent to our team, our new headquarters is an important investment in our employees and our future, creating an energizing and engaging workplace environment for our valued employees,” Rondeau said in the statement. “This new space will also support the tremendous runway for growth that is ahead of us as we empower people around the world to pursue a healthier lifestyle in non-intimidating, judgement-free environment.”
Amidst filing its initial public offering last year, Planet Fitness explored a potential move out of state due to conflicts with a New Hampshire business profits tax.
The company recently reported third quarter revenue of $87 million, an increase of 26.4 percent from the same period last year. It ranked seventh on Club Industry's 2016 Top 100 Health Clubs list, with a 2015 reported revenue of $330.5 million. This was an 18 percent uptick from 2014.
Last week, two private equity firms announced a partnership to form the country's largest Planet Fitness franchise group, United PF Partners, spanning 59 clubs in nine states.
Planet Fitness has more than 8.6 million members across 1,200 locations in 47 states, the District of Columbia, Puerto Rico, the Dominican Republic and Canada.