Whether you have been in the fitness game for a while or if you are starting out. There is always something demanding the outlay of your precious cash resources: equipment, fixtures, furniture. It can be hard to prioritize, which should be first in line – but one thing that will always go straight to the top of your list is the gym equipment, and here is why:
Benefits of Good Equipment
Having new-looking, well-maintained equipment is a big draw to new customers. Loyal customers might be more tolerant of the occasional signs of use creeping into the equipment they often use, alone or under the guidance of personal trainers, but even they will have a point when they decide the gym is looking a little too shabby for their liking.
Aim to stave this off by ensuring that your equipment is frequently updated, regularly maintained and tested, and replaced or repaired if it suffers any damage.
If money is tight, for example, because customers are no longer coming – perhaps because the equipment is old and beginning to look dated, gym equipment finance could be the perfect solution. Gym equipment finance is essentially a loan that gives you the cash to improve the look and feel of your equipment, making it safer and more comfortable to use. And more attractive to both existing and new customers!
Other Points to Ponder
The look of your fitness studio is also important. While high-quality equipment is necessary to keep users safe, whether they are your personal trainers or your customers, no one will come into premises that are dingy, unwelcoming, or unkempt.
A regular coat of paint on the walls keeping the fitness studio looking fresh and good ventilation make sure that the smell of hard-working bodies does not linger, off-puttingly, in the air. Good quality furniture in the reception and relaxation areas is also a must, to ease tired bodies after a strenuous workout. Perhaps a broader loan, or gym refurbishment finance, is what is needed – this will cover any renovation work that needs to be done on your fitness studio, whether it is a simple coat of paint, or something more complicated, like putting in new showers, expanding the toilet facilities or installing a sauna.
Worried About Debt?
Fitness studio finance can be out of the wheelhouse of someone who wants to help people to get fit and healthy: but it need not be alarming. Taking out a loan should never be done on the spur of the moment; you should always think about it first. Ensure you have enough money coming in to service the loan, or that you are guaranteed a rush of new customers should you decide to go for gym refurbishment finance in order to spruce up your premises.
If you have an existing fitness studio, draw up a financial plan looking at your income over the last few months, and working it forward. Always try to allow for both worst-case scenarios. It is better to be unnecessarily prepared for disaster than not to prepare and find yourself in trouble! If your fitness studio finance is to be used to expand the premises, or move to a bigger and better location. Make sure there is enough footfall in the area for people to use your facilities readily. You may find that your customer pool is best available outside of working hours, with your peaks falling at 7 in the morning, between 12 and 2 in the middle of the day and 5:30 in the evening, and that you can maximize turnover by opening earlier and closing later, using quiet periods to clean, catch up on admin and send your employees out for a break. Streamlining your business in this way will help you to manage your finances. So you can easily cope with the loan.
Invest in and trust your passion for helping people with their fitness and health. It will grow your business and your confidence, reassuring you that you can do whatever you turn your hand to, whether that is finding finance for gym equipment, or helping someone to complete their first training circuit.