The document provides information about a position for Chief Financial Officer at United Planet Fitness Partners. United PF Partners was created through the combination of five leading Planet Fitness franchise groups and operates 85 clubs across 10 states, generating over $150 million in revenue. The CFO will be responsible for leading all aspects of the company's financial function and partnering with the executive team to increase shareholder value and identify growth opportunities. The ideal candidate will have 5+ years of CFO experience, preferably at a high-growth, private equity-backed company, and experience supporting aggressive expansion.

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United Planet Fitness Partners
Chief Financial Officer
PREPARED BY:
Greg Blum
Bob MacDonald
January 2018
Position and Candidate Specification
www.spencerstuart.com

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In November 2016, two private equity firms, JLM Financial Partners and Eagle Merchant Partners,
partnered to create United PF Partners through the combination of five leading Planet Fitness
franchise groups, the country’s largest Planet Fitness franchisee. Highly profitable and generating over
$150 million in revenue, United PF now operates 85 clubs across 10 states. United PF Partners is well-
positioned to double in size and achieve its growth and expansion goals while continuing to prioritize
operational excellence, customer satisfaction and retention. Based in Austin, Texas, the newly formed
company is prioritizing aggressive growth through new club build out and acquisitions across strategic
U.S. markets while also executing an aggressive capital improvement program across existing clubs.
Future international expansion is also being explored.
Founded in 1992 in Dover, New Hampshire, Planet Fitness (NYSE: PLNT) is one of the largest and
fastest-growing franchisors and operators of fitness centers in the U.S., as tracked by number of
members and locations. With more than 1,500 locations in all 50 states and the District of Columbia,
Puerto Rico and Canada, the Planet Fitness mission is to enhance people's lives by providing a high-
quality fitness experience in a welcoming, non- intimidating environment, which they call the
Judgment Free Zone®. More than 95 percent of Planet Fitness clubs are owned and operated by
independent businessmen and women.
The company operates in three segments: franchise, corporate-owned stores and equipment. The
franchise segment is involved in the franchise of fitness centers in the U.S., Puerto Rico and Canada.
The corporate- owned segment operates corporate-owned clubs in the U.S. and Canada. The
equipment segment engages in the sale of fitness equipment to franchisee-owned clubs.
More information about JLM, Eagle Merchant and Planer Fitness can be found at
www.jlmfinancialpartners.com, www.eaglemerchantpartners.com and www.planetfitness.com
About the Company

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Based in the company’s headquarters (a large metropolitan area in the Southwest) and reporting to
the CEO, the CFO will be responsible for leading all aspects of the company’s financial function,
including accounting, control, treasury, capital budgeting and forecasting, financial reporting (including
IRS and other regulatory filings), tax planning, compliance, risk management and technology. The CFO
will proactively partner with the CEO, President/COO and peer management team members to
increase shareholder value through attainment of operational and financial objectives. The CFO will
participate on the executive management team and play a key role in developing the overall strategic
plan of the business. Additionally, s/he will optimize corporate earning power and cash flow by helping
the business identify and capture revenue and margin growth, cost reduction and operational
efficiency opportunities.
KEY RELATIONSHIPS
Reports to Chief Executive Officer and President/COO
Other key
relationships
Board ofDirectors/Financial Sponsors
Executive ManagementTeam
External Auditors
Lenders/InvestmentBanks/Advisors
KEY RESPONSIBILITIES
§ Proactively partner with the CEO and President/COO to identify and drive results against strategic and
operational objectives.
§ Inspire, develop and motivate finance and technology teams.
§ Manage all aspects of accounting, including monitoring internal controls and GAAP compliance. Oversee
monthly financial close, internal reporting process and timely preparation of financial statements.
§ Lead the company’s finance/capital raising, treasury and risk management functions, including ensuring
optimal balance sheet structure and the insurance of all assets. Establish credible and effective relationships
with the Board of Directors and the company’s commercial lenders.
§ Lead the financial planning, budgeting and forecasting processes in partnership with peer executive
management team members. Direct cash flow projection process and reporting mechanism; including
minimum cash threshold to meet operating and capital structure needs.
§ Lead the investor relations function, establishing credible and effective relationships with the stakeholder
community, including the financial community, the Board of Directors and banks. Proactively communicate
the Company’s strategy and messaging to investors, including through one-on-one meetings, roadshows,
etc.
Position Summary

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§ Become an influential leader in interaction with the franchisor as a contributor to the CFO Roundtable and
helping the franchisor understand data and analytics to help the brand make informed decisions.
§ Lead the establishment of a continuous improvement mindset within the organization through the
development of financial and operational metrics linking performance improvement actions to measurable
financial outcomes.
§ Proactively support the business and financial sponsors with financial information and analysis to enable
and ensure quality commercial and investment decisions. Develop and monitor operational metrics relating
to the achievement of financial objectives. Partner with senior operations leaders to provide strong linkage
between finance and operations groups.
§ Proactively support the store development process with store budgeting, specific financial analytics,
management and tracking of store budgets and maintenance capital expenditures. Work with VP of
Development to jointly control and bring capital projects (primarily new clubs and club refreshes) in at or
under budget.
§ Proactively identify areas for cost improvements and presenting plans for execution of such initiatives.
§ Drive continued establishment and institutionalization of strong financial policies, procedures, controls and
reporting systems, including creation, implementation and tracking of key weekly / monthly KPIs.
§ Managing all aspects of debt reporting and balance sheet management, including quantifying credit
statistics and influencing business transactions throughout the organization to ensure compliance.
§ Actively participate in all business development activities, including working closely with the CEO,
President/COO and Board to monitor and appraise acquisition opportunities, including leading and directing
due diligence on prospective M&A targets.
§ Partner with the executive management team to determine highest and best use of capital to grow the
business, including the evaluation of organic and inorganic investments (including acquisitions) and the
presentation of the projects to the Board of Directors for approval.
§ Effectively integrate acquisitions to achieve operational efficiencies in order to capture cost savings.
§ Recruit, train and developing a high-performing finance team (“bench strength”) to ensure current and
future leadership of the financial function.
§ Coach and develop team members on the use of operational and financial metrics to assist the business
leaders in identifying and capturing profit improvement opportunities.
§ Manage equity schedules and employee incentive programs (“LTIP program”).
§ Ensure optimal and proactive tax planning and compliance matters.
§ Effectively managing the audit process and relationships with external auditors.
DESIRED OUTCOMES IN THE NEXT 12 MONTHS
§ Develop a strong partnership with the CEO, President/COO and other key members of the management
team.
§ Continue to integrate the organization, establishing a granular, standardized measurement of the business
(e.g., metrics fully capturing unit economics and operational performance) to inform the company’s most
critical strategic decisions (e.g., capital allocation, return hurdles, end-state unit “portfolio” objectives).

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§ Support operations leaders to build the infrastructure and foundation to scale the business and in the
centralization of certain functions and processes and the establishment of proper controls and tracking
mechanisms.
§ Through clear and effective communication, take a leadership role within the finance organization to drive a
culture of continuous improvement and create a team focused on performance improvement and results
(via implementation of actionable metrics/KPIs linking actions to clear, measurable financial outcomes).

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The ideal candidate is an accomplished financial executive with unquestionable integrity, a positive reputation
and demonstrated success serving as a CFO of a private equity-backed, consumer-facing, multi-site service
provider. S/he will be well-rounded in all aspects of the financial function, including controllership, treasury,
accounting, financial reporting, cost accounting, FP&A, tax, M&A/corporate development, investor relations and
information systems. The CFO will be an operationally-oriented, hands-on leader capable of driving continued
growth and margin expansion for the company. Additionally, s/he will also have experience planning, budgeting
and assisting in the execution of strategic initiatives with direct accountability to the Board of Directors.
IDEAL EXPERIENCE
5+ years of CFO experience within an organization generating annual revenues greater than $50 million
10+ years of experience serving within a geographically-dispersed, multi-site business
Consumer-facing experience in restaurant, retail or related service businesses are highly preferred.
Direct CFO experience within a high growth environment, both via M&A and organically (new store expansion)
Significant experience building scalable financial infrastructure to support aggressive expansion
In addition to installing process, controls and systems, this includes experience building high performing teams.
Proven success working cross-functionally in a growth business.
Previous CFO experience within a private equity-backed company
Successful execution of a sale process will also be given preferred consideration.
An undergraduate degree in business, finance, accounting or other applicable curriculum
Appropriate certifications, such as a CPA or CMA, combined with an MBA or other advanced degree is preferred.
CRITICAL LEADERSHIP CAPABILITIES
Driving Results
In an organization driven by performance and outcomes, the CFO will:
§ Demonstrate a strong sense of urgency in meeting targets. Routinely benchmark own work and team’s
work in pursuit of collective goals.
§ Display exceedingly high level of determination and focus in the face of significant obstacles.
§ Create a clear strategic vision for finance in supporting the business objectives and execute on that to
ensure the business meets and surpasses its goals.
Leading People
In an environment where transparent partnership and effective communication is a critical component of leadership,
the CFO will:
Candidate Profile

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§ Collaborate and openly debate with the team to manage projects, solve problems, discuss challenging
issues, or learn more about critical issues as a group.
§ Delegate roles thoughtfully to free self to work at a more strategic level, while having appropriate control
mechanisms to ensure results are consistently delivered.
§ Collaborate with each employee to establish clear, challenging performance goals and metrics for the year.
§ Design a performance management process to monitor projects and deliver results that exceed
expectations.
§ Periodically review team progress against plans, focusing attention beyond the project to the full year or
more.
OTHER PERSONAL CHARACTERISTICS
§ Integrity, credibility, and character with demonstrated moral and ethical behavior.
§ A hands-on, detail-oriented professional.
§ An entrepreneurial, innovative, flexible problem solver.
§ A forward thinker with strategic vision.
§ Executive presence combined with a high degree of maturity and business judgment.
§ A team player with the self-confidence, presence and consultative skills to positively influence the business.
§ An accomplished, results-oriented manager and leader with exceptional negotiation, communication and
interpersonal skills.
§ A tenacious, operationally minded individual with a strong work ethic.