Planet Fitness Closes Five Gyms Amid Growth Slowdown
The chain is launching a $10 membership promotion to regain volume as price-sensitive members look toward boutique competitors.
Updated on Oct. 28, 2026 in Openings & Closings
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Planet Fitness is closing five gym locations in New York, Florida, Indiana, Vermont, and South Carolina as growth cools. The company is simultaneously testing a $10 Classic Card promotion to boost membership volume across its 2,900-unit network.
Why it matters
Management is responding to slower net member growth and rising consumer price sensitivity, which has forced a pivot from price hikes back toward promotional volume strategies. The shift reflects broader headwinds where 23% of consumers identified fitness as a discretionary cost they would trim.
Planet Fitness posted a 1.7% increase in same-club sales for the second quarter of 2026, a figure driven entirely by price hikes rather than increased member volume. The company oversees 2,900 locations, while 23% of Americans currently report that fitness spending is on the chopping block.
The players
Planet Fitness
A national fitness center operator with over 2,900 locations and a high-volume, low-cost membership business model.
The details
The decision to close five underperforming gyms follows a period where same-club sales growth relied on pricing rather than new member acquisitions. To reverse this, the chain has paused planned premium-tier price increases and introduced a $10 Classic Card promotion. This strategy shifts the focus toward capturing price-sensitive members who are currently being lured toward boutique and specialized fitness alternatives.
Timeline
May 2026: Company released first-quarter earnings.
August 2026: Company released second-quarter earnings.
Late 2026: Five gym locations scheduled for closure.
Market Landscape
The move aligns with the trend where 23% of consumers indicate they would trim fitness spending if forced to cut costs. This represents a cooling shift in the fitness industry, where operators are moving away from the aggressive price-hike strategies that dominated the sector earlier in 2026.
Operators in the health and fitness space should monitor whether promotional pricing successfully drives volume or further erodes margins. Watch for shifts in churn rates among lower-tier members as competitors react to these national promotional tests.
The takeaway
The pivot from price-led growth to volume-based promotion signals that the market for standard fitness memberships has hit a ceiling of consumer willingness to pay. Owners should track their own renewal rates against the national average to determine if a shift to promotional pricing is necessary for retention.
Further reading
For broader trends in retail and service footprints, read more in Openings & Closings.
Source note: This article includes information reported by Tri-City Herald.
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