Planet Fitness
Founded by Co-CEOs Eric Dore and Shane McGuiness in Orlando, Florida, Sunshine Fitness is one of the largest franchisees of Planet Fitness clubs. Since opening the first franchised Planet Fitness location in 2003, Sunshine Fitness has grown rapidly and currently operates over 100 locations across Florida, Georgia, North Carolina, South Carolina, and Alabama. TSG’s involvement with the Planet Fitness brand dates back to November of 2012 when TSG acquired a majority stake in Planet Fitness. For nearly five years, TSG and Planet Fitness worked together to develop the Planet Fitness Brand and improve the support and value proposition for both members and franchisees.
Our Partnership
Our prior investment in Planet Fitness gave us a deep appreciation of the strength of the brand, as well as the unique and attractive value proposition offered to franchisees. Following Planet Fitness’s IPO in 2015 and our subsequent exit in 2017, we were eager to stay connected with the brand and concept, and Sunshine’s longstanding and successful history as a franchisee made it the ideal partner to team up with to become part of the franchisee family.
Ultimately, our experience and understanding of the Planet Fitness model allowed us to complete diligence quickly and efficiently, and the unique perspective we brought to the business made us a preferred partner for the Sunshine team.
Strategic Focus
Leveraging our experience with the brand as well as Sunshine’s experience opening and operating successful clubs, the team plans to accelerate growth both through new club openings and as a platform for acquisitions of other Planet Fitness franchisees. In addition, we are focused on supporting the existing team in strategic decision making, M&A, and providing analytical support for marketing and site selection decisions.
“We’re excited to be partnering with a top tier consumer expert like TSG, who has an extensive track record in supporting and building world class brands, as well as an intimate knowledge of Planet Fitness. With TSG’s support, we look forward to accelerating growth of the Sunshine Fitness platform through new store growth and acquisitions, while enhancing the unique, welcoming environment that we provide to our members in the region.”
— Shane McGuiness, Co-CEO
