Planet Fitness, Inc. (NYSE:PLNT) Q3 2019 Earnings Conference Call - Final Transcript
Nov 07, 2019 • 04:30 pm ET
[Operator Closing Remarks] Your first question comes from Randy Konik with Jefferies. Your line is open.
Yes. Thanks a lot. Hi, Chris, and hi, Dorvin. How are you?
Hey, Randy. Thank you.
I guess, first question, I guess, Chris, can you just expand upon, you know, you gave us some good insight on Australia and thinking through a market far away here. So kind of what is that -- going into Australia, what is that kind of have you thinking about in terms of taking over the rest of the Planet, if you will. I guess, pun intended? Give us some perspective how you might be thinking about the longer-term future, and why you might attack a region or not? Why Australia, etc.? Just give us some perspective there.
Sure. Good question. As I've always said, U.S. is still our main focus with 4,000 potential and we're barely halfway there. So first of all I'll make that statement. But I'd say we did do some studies on international, and our share was one of the top five that they recommended. English speaking makes it a bit easier than a lot of other places. Also I think with definitely being able to obtain the trademark that was registered by another individual there, was a cherry on the top that we can take that at the same time.
So, and it was also good, where we had two U.S. franchisees that we know and are very good trusted operators with. Partnering with that individual in Australia, who is also a veteran fitness operator from that country, did see to be a great partnership to have that be the next frontier if you will. So I think as we've mentioned in the past to, Ray Miolla, Chief Development Officer, who came obviously from Gap. He's been here a little bit two years now or a year and a half now, I think you give him -- and he has led their whole international franchisees. So as you've seen, the development here in the U.S. really come together well here, and with our plan this year here, I think you give him another year, I think, international focus will be quite a bit stronger and you'll divert some of attention that way.
Got it. And then, I guess, related back to the United States, the way I kind of have conversations with investors, we talk about -- your company reminding us of Amazon. But with Amazon, Amazon has competitors like Walmart and Target which are pretty sizable and so forth. How do you think about -- it seems to me, your business, just as it grows, the footprint, you continue to gobble up more and more share because of the price point of the amenities and the closeness to where the stores are versus where people work and live.
So you know kind of, when you look at the competitive set, there is not someone that kind of coming up your rear there in terms