Greg Flynn Becomes World's Largest Franchisee With 98-Unit Planet Fitness Deal
Updated
Updated · Forbes · Jul 16
Greg Flynn Becomes World's Largest Franchisee With 98-Unit Planet Fitness Deal
1 articles · Updated · Forbes · Jul 16
Summary
February’s purchase of 98 Planet Fitness gyms pushed Greg Flynn’s total past 140 fitness locations and made him the world’s largest franchisee.
Flynn Group now generates about $5 billion in annual revenue from more than 3,000 franchises across 44 U.S. states plus Australia and New Zealand, with Planet Fitness adding a higher-margin business to its restaurant-heavy mix.
Forbes estimates the company produces roughly $500 million in annual EBITDA, while Moody’s says growth at Applebee’s, Arby’s and Taco Bell is offsetting weaker Pizza Hut and Wendy’s performance.
The deal fits Flynn’s long-running diversification strategy—built through acquisitions from eight Applebee’s bought in 1999 to major fast-food and hotel holdings—as he says he wants a global private operating business rather than an IPO.
What is the technological 'secret sauce' driving success across Flynn's 3,000+ diverse franchises?
With restaurants and gyms conquered, which consumer industry will the world's largest franchisee disrupt next?
How vulnerable is Flynn's diversified consumer empire to a major economic downturn?
Flynn Group Triples Planet Fitness Presence with Grand Fitness Partners Acquisition: Strategic Expansion and Industry Impact in 2026
Overview
In early 2026, Flynn Group LP, the world’s largest franchise operator, significantly expanded its fitness sector presence by acquiring Grand Fitness Partners (GFP). This move tripled Flynn Group’s Planet Fitness footprint and strengthened its diverse portfolio. GFP had grown rapidly since 2021 through new club openings and strategic acquisitions, supported by HGGC, which exited after the deal. The acquisition reflects Flynn Group’s commitment to growth in the wellness industry, leveraging contemporary trends and its operational expertise to enhance club quality and member experience, while positioning itself for long-term success in the evolving fitness market.