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Commercial Gym Equipment Leasing
Are you looking to lease commercial gym equipment? If so, you have come to the right place. We have lots of information online that will help you understand how it works, free online gym equipment lease calculators and advice for gyms and the fitness sector.
All major manufactures or resellers of commercial gym equipment in the UK do or should offer leasing. Their reasons are simple, they will sell more gym equipment by having a lease and finance option compared to those companies who don’t.
Leasing companies like leasing commercial gym equipment
Leasing of commercial gym equipment in the UK is big business. Leasing companies similar to ours like this sector. Order values are high, the equipment has a good resale value in event of a foreclosure and customers will normally upgrade every three to five years. So what does this mean for you, the gym owner looking for leasing?
What gym equipment can be leased?
It’s not just the gym equipment that can be financed:
Security, CCTV, car park barriers, door access system
Air conditioning, televisions
Mats, dumb bells
Kitchens, catering and dining areas
Soft seating, office furniture, lockers, carpet tiles, ceiling tiles, partitioning
LED lighting, fire alarm
Computer reservation software
Save your cash for other things like working capital or that second gym you would like to open up!
Why do so many gym owners lease so much?
We see a lot of new start gyms where the owner has a real love of fitness and training and a pot of cash to invest. However, often this “pot of cash” normally amassed from savings, friend’s or family and the odd angel investor, does not always go too far. Without carrying out a character assignation on High Street banks, they often will only chip in with a small, highly secured loan or overdraft facility.
Leasing is a finance facility offered by a third party company. You can use it for most assets. It still doesn’t stop you going to a bank or getting in other investment.
Income from gym memberships will come in monthly, lease costs are paid monthly, a great way to budget and balance the books. It’s great for tax, all rentals are allowable against Corporation Tax (lease rental, not lease purchase).
Leasing helps gyms refresh equipment every three to five years. You pay the monthly rental then hand the kit back and refresh all the equipment. How often do you hear a member talking about the new piece of fitness equipment. If you are not refreshing your gym equipment, your competitors may well be doing this.
Finding the best value gym equipment lease
Make sure you get a second leasing quote. You will probably have a supplier of gym equipment in mind. More often than not, you will have a good idea as the manufacturer and make of gym equipment you are looking to buy. The commercial gym equipment supplier gives you a leasing quote which all looks OK. However, it might not be the cheapest quote. The cheapest lease quote and best value may not be the same thing.
Please give our gym divisional director ‘Scott Rogers’ a call on: 01494 611 456 or send an email to hello@westwon.co.uk
