The nation's largest franchise operator adds nearly 100 Planet Fitness locations to its portfolio, continuing its strategy of absorbing large multi-unit blocks from exiting operators.
Flynn Group, already the largest franchise operator in the United States by unit count, acquired 98 Planet Fitness locations from Grand Fitness Partners in a deal announced in mid-April 2025. The transaction adds to Flynn's existing Planet Fitness portfolio and gives the company a footprint exceeding 100 Planet Fitness gyms. Grand Fitness had been one of the brand's largest operators before the sale. Financial terms were not disclosed.
Flynn Group operates more than 2,800 locations across multiple brands including Applebee's, Panera Bread, Taco Bell, Wendy's, and Pizza Hut. Its Planet Fitness entry came through an earlier acquisition, and this transaction is consistent with Flynn's approach of acquiring large, contiguous portfolios from operators who are exiting rather than building unit by unit. The strategy works at scale because Flynn can spread central administrative costs across a larger base, negotiate favorable supply terms, and redeploy experienced operational leadership across new locations with minimal ramp time.
Planet Fitness has more than 2,500 locations across the US, Canada, and a handful of international markets. The brand's low-price, high-volume membership model has proven resilient through economic cycles, which makes it attractive to large institutional franchisees like Flynn who seek predictable recurring revenue. The consolidation of formerly independent multi-unit portfolios into a few large operators is a trend playing out across the brand — a pattern that mirrors what happened in QSR franchising over the past decade, where regional operators gradually gave way to large holding companies.
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