This is a YouTube video titled "September 16, 2024" containing an English conversation between Alex and Rich Schefren discussing the business model of Planet Fitness, focusing on how it targets less frequent gym users with simplified equipment and the ethical implications of such a strategy. The discussion took place in September 2024.
92% of members at Planet Fitness never go to the gym. And so one of the brilliant parts of their business model was finding out who is least likely to use the gym and who's most likely to use the gym. And then what they did is they figured, oh, all these people who come to the gym all the time, they use heavy weights, they use barbells, those are the hardcore gym goers. What if we remove all the things that those people use, and then we can get way more people who never use the facility at all? And then what do all these people want? They want pizza. They only want the easy equipment. And so they catered something for everybody else, and everybody else doesn't use the gym.
I think from a business standpoint, this is Geni, but I also think from a moral standpoint, it's kind of yuck, right? So, yes, I agree with Alex. Totally smart for Planet Fitness to do that. I wouldn't feel good about myself if I own Planet Fitness, though, because what are you really doing for the world? You're just sucking money out of customers who don't use the gym. And I don't think that that's really something to aspire to. But from a business standpoint, spot on.
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