Location: Timonium, MD
Industry: Health and fitness
C. Victor Brick
DIFFERENT SITES OF GROWTH
Planet Fitness Growth Partners, LLC (PFGP) is the largest franchisee of the Planet Fitness Health Club Company, with 42 locations in four different states and the District of Columbia. “What sets PFGP apart is our personal touch and hands-on management style,” says co-founder C. Victor Brick. “This is evident in our being named the inaugural Planet Fitness Franchisee of the Year in 2014.” The most important lesson for Brick in leading PFGP: “Analyze every deal as much as possible, but, at the end of the day, go with your gut. Trust your judgment. It is usually right.”
Quick Tip: “If you are the smartest guy in the room, you are in the wrong room.”
Because PFGP has grown rapidly, opening 30 clubs in three years, finding more potential sites has sometimes been a challenge. To help in that effort, the company has strategic partners and brokers in each territory looking for sites, along with on-the-ground ownership team members. “We don’t just leave it to others to find us sites,” says Brick. Another challenge has been finding the capital to grow. “We have strategic alliances with lending institutions and a minority-party financial group that facilitated a financing deal that brought almost $100 million into the company,” he adds.