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The fall season is finally here. Fall is unquestionably the best time of year. The long 7-month wait for football to return is over, perfect weather makes for excellent cookouts with friends, Thanksgiving allows us to stuff our faces alongside our loved ones, and yes, of course, the return of pumpkin spice everything.

However, looking forward, in only a few short months, Americans will begin their annual quest to “get in shape” and/or “lose that holiday weight”. On average Americans only gain about one pound during the holiday season (Thanksgiving to New Year’s), but in a study done by the New England Journal of Medicine the average American has a perceived weight gain of 7-10lbs! This perception, along with the number one New Year’s Resolution to get fit, presents a huge opportunity for gym owners to take advantage of the huge demand for annual memberships. But, with 31,000 gyms around the country, how can a gym stand out in this $21.8 billion-dollar industry?

One way to stand out is to have upgraded gym equipment. Whether it be state-of-the-art Woodway curve treadmills, or perhaps expanding on the tried-and-true squat racks; gym goers are more likely to choose a gym with all the equipment that they need without the need to wait in line to use… However, gym equipment isn’t the only thing that gym goers seek. Other reasons that people choose a specific gym include:

 

  • Gym Cleanliness
  • Classes Offered
  • Convenient Location
  • Price
  • Popularity/Reviews

 

Operating cash is required to maintain cleanliness, hire trainers for classes, and create a brand through advertising. All this on top of upgrading & expanding gym equipment while keeping a competitive price… Is this impossible? Not without tailored financing options.

Lenders see the opportunity for continued growth in the health and fitness sector and are eager to work with gym owners to expand their business. With financing options, owners can forgo the large upfront investments into equipment upgrades and expansions. Increasing the amount and quality of gym equipment leads to more customers and a higher retention rates. Simplifying the cash flow by matching the increased monthly revenue with monthly installments on the new equipment it is easy to see why financing gym equipment makes sense for many gym owners.

 

If you are ready to see what new equipment can do for your gym contact us today to help with the financing process.

Brock Kimball

bkimball@slsfinancial.com

816.423.8016

Business Lending Central

About Business Lending Central

A blog serving the Equipment Leasing & Equipment Financing Industry while also analyzing related Business Loan / Commercial Lending Products & Practices