Thinking Of Opening A Fitness Center? Benefits Of Buying And Renting
One of the most critical factors that a business owner must consider is budget. Besides property maintenance and business fees, you need quality equipment like treadmills, bikes, stair-climbers, ellipticals, and circuit trainers that require tens of thousands of dollars to buy new. If you want to compete with other studios, you must consider the benefits of buying or renting refurbished gym equipment to attract customers from fitness fanatics to those with weight maintenance goals.
Should I Take Out A Business Loan?
While a business loan will give you working capital, you face monthly interest rates that increase your loan amount considerably. The equipment you buy also becomes your collateral, so banks will also demand more if the loan exceeds the value of the gym equipment you intend to purchase. You also increase your risk because payments are due regardless of how quickly you build your clientele. If you do not want to risk financial loss, buying refurbished or renting gym equipment provides the greatest advantages for a new fitness business start-up.
Considering the type of equipment variety you need to entice new membership interest, it leaves a new business owner to question whether it is better to buy gym equipment or rent it. If your budget allows, buying your gym equipment offers a few advantages that rending does not. When you make your purchases, the equipment is yours. Buying items like dumbbells and weight sets make a lot of sense as they will not suffer aesthetically from long-term usage or wear and tear. Buying non-essential equipment like this will also reduce the likelihood of having to replace it.
You also will not have monthly rental fees or credit interest payments either when you buy out-of-pocket. That said, you need to have a large amount of capital to achieve the type of gym that fitness experts want to train clients. Buying refurbished equipment will allow you to start out slowly to build your clientele while building the capital you need to purchase in the future. Of course, renting gym equipment is also an option that allows gym or fitness studio owners to invest slowly in their equipment purchases without having the initial capital to get fully started.
Buying refurbished gym equipment has a number of advantages. You will be able to provide top-notch brands to your clients. While some gym equipment companies sell refurbished equipment as is, Fitness Depot Direct puts each piece of equipment through a rigorous refurbishing process. You will have peace-of-mind that each piece of gym equipment you purchase is reconditioned to perform long-term which will allow you to add a new piece of equipment at an affordable price.
Renting also is beneficial. Monthly rentals allow you to try out brands short-term before you decide on whether to make a refurbished purchase. You also will be able to provide a full gym of quality equipment with just one monthly rental fee. It gives you the time to commit to membership sales that grow your business and make your fitness studio sustainable.
Give us a call at 303-241-0855 whether you choose to buy refurbished or rent your equipment. Our Fitness Depot Direct experts will work closely with you to boost your fitness studio quality.