Gym Equipment Lease Calculator

1. For enquiries over £100,000, please contact us directly on 01494 611 456.

2. The rental price indicated is for general guidance and is subject to credit approval.

3. Business users only.

Lease Gym Equipment

Leasing gym equipment is the smart way gyms around the UK are purchasing their gym equipment. Whether you’re a new start gym, existing gym, leisure centre, health club, hotel or even a school you can lease gym equipment with us and we will find the best solution for you.

From leasing a single treadmill to funding the full gym project, including even the fit out, WestWon has the expertise to ensure you receive competitive rates and a 5* customer service. WestWon work with a range of gym manufacturers and suppliers offering gym equipment.

Leasing commercial gym equipment is one of the best things we do here at WestWon. We love the gym equipment market, we are passionate about fitness equipment and how gyms across the UK are enhancing peoples lives. Leasing a laptop might make your company more efficient, leasing commercial gym equipment promotes a healthier lifestyle and improves our general wellbeing. For us, it’s a great way to give back to the community and to get involved with something we really believe in.

Leasing Gym Equipment- Benefits

  • Cash flow

    You will be able to keep funds in your business to be used elsewhere

  • Alternative funding lines

    No need to use up an existing bank facility

  • VAT

    On rental agreements VAT is paid in the rental, not in full and upfront

  • Pay for the equipment as your members use it

    Companies pay employees over time as they work, so why pay all the cost for gym equipment in advance?

  • The latest equipment

    Always have the latest gym equipment at your disposal by implementing a recycling strategy, whereby you replace equipment at the end of the lease term

  • Tax planning

    Using a lease rental agreement, 100% of your rental is deductible against your companies corporation tax

The Gym Equipment Leasing Process

WestWon - The leasing process - customer NEW

Case Study
Gym Equipment Finance for a Golf & Country Club

Having previously financed a tractor through our sister company TECH5, this Northamptonshire based premier golf club, hotel and leisure chose WestWon to arrange the finance for some new gym equipment.

Case Study
Commercial Gym Equipment Finance for New Start Gym

Having previously worked as a personal trainer at Fit4Less for 15 years, the opportunity came about for this Northern Ireland based individual to open up their own Fit4Less franchise.

Gym equipment finance for franchises

What type of finance do you need for a gym franchise?

You will need your own capital. Without this, a bank would be reluctant to lend. They will need to see your “hurt” money. (i.e. if it does not work out, then you also have a lot to lose!)

Bank Loan. A bank loan will help pay for some of the big upfront costs:

  • Franchise fee
  • Rent deposit
  • Fit out costs

Just those three items above may be the best part of £200,000 in cash terms depending on the size of the premises

Business Loan. Our WestWon gym finance division can help you by providing a business loan. This loan can be used for a range of purposes and is totally separate from what a High Street bank will lend. It also will not affect the amount your bank will lend you.

Leasing. Most new start franchise gyms will lease fitness equipment. However, we can also lease lots of other assets, as below:

  • All the gym equipment
  • Lockers, reception areas, signage
  • CCTV, security barriers, security alarms
  • Computers, software, TV’s and audio-visual equipment
  • Furniture, fit out cost, ceiling tiles, bathrooms, dining areas, soft seating
  • Coffee machines, catering equipment, kitchens
  • The list goes on…

What does a gym franchise need finance for?

1. Franchise fee

This could be £40,000 plus, just for the franchise fee alone.

2. Rent deposit

You might be looking at three or six months deposit to pay upfront even with a rent-free period

3. Gym and fitness premises fit out costs

This certainly is not cheap and clearly will depend on the building and scope of works

4. Equipment

All the gym kit needs to be ordered and paid for

5. Working capital

Salaries, staff clothing, legal fees, stationery, IT and phone systems, the list will go on. What will happen is that you will burn a lot of cash very quickly prior to opening

The cheapest and best value gym equipment leasing deals

Leasing companies like financing gym equipment. As noted above, there are many leasing companies battling it out in this space to win your business. We are a great bunch of people, knowledgeable and passionate about health and fitness. However, if we cannot offer you the cheapest and best value gym equipment lease then you will go to our competitors.

We do not normally lose business when it comes to the best value leasing deal. Please call us and find out for yourself.

Why lease and use WestWon?

Leasing fitness equipment makes commercial sense

We hear from gym equipment manufactures and gym equipment suppliers in the UK that the market is still expanding. By default, more and more end user companies involved in the fitness sector are using leasing and finance to fund projects.

We practice what we preach

WestWon have a team of thirty people based in different locations, our age group ranges between twenty to sixty from a variety backgrounds. Not everyone in our company is an Olympic athlete, but on average, we do have a team that understands and believes in the benefits of leading a healthy lifestyle. Read our blog on Keeping Fit at WestWon to see how we practise what we preach.

FAQ’s

What is the smallest and largest gym leasing deal you can do?

We can do any value from £1,000.00 + VAT upwards. Some gyms spend in excess of £1m fitting the premises out.

What is the average value of a gym leasing deal?

A lot of gyms normally spend about £40,000.00+VAT on a lease with us.

How long can I lease gym equipment over?

We finance gym equipment over a period of 1 to 5 years. Our most popular agreements are over a 3 or 5 year term.

Is there an advance payment?

Companies will often pay three months up front. Alternatively, we can take a one month deposit if needed.

What happens to the equipment at the end of lease?

There are 3 options available:

1.) You can return the equipment to WestWon

2.) You can continue paying your monthly rentals

3.) Buy the equipment outright for an agreed price.

Who insures the gym and fitness equipment?

You need to insure all the gym equipment.

I am a new start gym company, will you credit clear me?

If you are a homeowner and have a clear personal credit history, we should be able to source funds for you, normally up to £50,000. For non homeowners we can source funds up to £15,000.

I am an established gym trading over three years, what information do you require?

Often, we just take a look at the information in the public domain at Companies House. However, there are times when we will ask to see bank statements, last year’s full audited accounts and management accounts.

I have a CCJ / My company has a CCJ, will we get finance?

If the CCJ is satisfied and there is a good reason for the county court judgement, then we will argue your case. However, if you have an unsatisfied CCJ, then sadly we will struggle to get finance.

Another leasing company has said no, will you be any different?

Some leasing companies just do not like the fitness sector. It may be your existing leasing company is fully committed. It may be such you are asking for £50,000 and have said no, when if you asked for £25,000 they would have said yes. Often, we can obtain leasing finance even if another leasing company has said no.
materials.

How cheap are your lease rates?

We do not normally lose business because we are too expensive. Our view is to give cheap lease rates and make sure we do more business together in the future.

What happens if the equipment on lease breaks?

This is a matter for you to take up with your supplier. It may well still be under warranty, if not, you will have to pay the cost to mend it, the leaing company would not do this for you.

Can WestWon recommend an insurance company for my fitness company?

Yes, we partner with LRG Insurance Services who insure gymnasiums and fitness centres.

Can I use my own supplier of gym machines?

Yes, we can work with multiple suppliers of your choice on one agreement.

Can you lease gym equipment which is being bought from a foreign supplier?

Yes. It must be done by what we call a “sale and lease back.” You buy and pay for the kit, you then invoice our finance company and they will pay you back in full.

Can WestWon recommend me a supplier or manufacture?

Yes, we know a number of companies we could recommend to you. However, we would not recommend what type of equipment you should use or get involved in space planning or making recommendation about your gym design.

Can I pay the lease off early?

Yes. The finance company will work out a settlement figure based on how many rentals are left to pay.

Can I add more kit to the lease at a later date?

Technically you can, but nobody ever does. It is more cost effective to set up a brand-new lease.

Contact Us

or send us an enquiry online

© 2018 WestWon Limited
The Financial Conduct Authority (FCA) regulates financial services in the UK and you can check this on the Consumer Credit Register by visiting the FCA’s website here or by contacting the FCA on 0800 111 6768. WestWon Limited is a credit broker and not a lender. WestWon companies deals with a range of lenders. All WestWon companies hold a current Data Protection Licence and are registered for VAT. These details, together with our policy on Treating Customers Fairly, Complaints Policy and address details are held under our Get in Touch page.
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