Chris Rondeau sees the potential for explosive growth similar to Planet Fitness for Panobianco Academia, Brazil’s largest gym franchisor
Former Planet Fitness CEO Chris Rondeau is looking to bring his low-price fitness philosophy to Latin America.
Rondeau is now an investor-partner and strategic advisor to Panobianco Academia, Brazil’s largest gym franchisor, with expansion planned across Brazil, Mexico and broader Latin America.
Rondeau’s foray into the new market follows the 30 years he spent at Planet Fitness, before being ousted in 2023 following allegations of fostering a toxic work environment (Rondeau has denied the allegations, saying he was “blindsided” by his dismissal).
Rondeau is known for growing Planet Fitness from a regional operator to a global powerhouse with over 2,000 locations.
“I see the same signals in Panobianco today that I saw in Planet Fitness in 2010, just before our explosive growth phase,” Rondeau said.
“They have cracked the code on high-value, low-price fitness in underserved markets,” he added. “The model is highly profitable, the runway for growth in Brazil and Mexico is massive, and the brand democratizes fitness for the 80% of the population that traditional gyms ignore. This is an opportunity to help build another multi-billion-dollar legacy.”
The Brazilian operator opened over 160 new locations in 2025 — more than double the previous year — the company will close the year with over 400 operating units, with a 2026 target of 600 locations by the end of next year.
To follow through on its ambitious plans, the company will implement three core strategies:
Financial Structuring: Through a financing fund with XP Investimentos, franchisees will have access to capital for equipment and new store setups. Additionally, an alliance with Wellhub provides franchisees with access to capital advances to streamline cash flow for expansion.
Governance Changes: By establishing a board of directors and a franchisee council, Panobianco will implement international-standard auditing and a unified ERP system, preparing the corporate structure for future liquidity events.
Multi-Unit Revolution: Mirroring the strategy Rondeau successfully deployed in the U.S., Panobianco is shifting its focus to cultivating multi-unit operators, with a goal to transform single-unit franchisees into business groups capable of managing dozens of locations.
“Chris’s arrival is a validation of our business model and a catalyst for our future,” said Panobianco CEO Felipe Barth de Castro.
“We are not just opening gyms; we are building a sophisticated, scalable corporation,” de Castro added. “With Chris’ mentorship, we are preparing our franchisees for a new era of professionalization and equipping Panobianco with the governance and capital structure needed for a global footprint.”
Latin America is proving to be a fruitful market for fitness and wellness. A survey revealed last year that 61% of urban-dwelling Latin Americans exercise regularly, and many of them belong to gyms or other fitness facilities.
The survey found that gyms and other fitness facilities serve as the preferred exercise location for 55% of active Latin Americans
Gold’s Gym recognized the potential in South America, planning a 60-location rollout in Brazil starting in 2026. Boutique fitness is expanding in the southern hemisphere as well, as barre3 revealed plans to open a location in Santiago, Chile in February 2026.