We realize that every business is unique, which is why we refer only dedicated, experienced professionals work with you. In strategic partnership with many financial institutions, they’ll help assemble financing and leasing packages that meet the needs of your business.
Why consider leasing gym equipment? Here are a few reasons why this might be the right choice for your gym:
1. Focus less on cost, more on value of products
When you lease gym equipment, you don’t have to worry about paying the entire cost of the equipment upfront. Financing institutions such as Key Equipment Finance, the trusted financing partner for Precor equipment, will take your unique financial needs into consideration, developing a payment solution that is flexible and works for you and your gym’s cash flow.
So, instead of worrying about how you’re going to pay for gym’s equipment, you’ll get some room to breathe. Financial concerns aside, you’ll have time to focus on your gym’s equipment and the distinct value that it brings to your facility. This’ll enhance your members’ experiences, as you actively teach them how they can use your facility to reach their health and fitness goals.
2. Offer your members the latest and greatest equipment
Outright paying for your gym’s fitness equipment means that you’re going to have the same equipment for a long time. In the world of ever-changing technology and exerciser interests, that equipment can become obsolete in a matter of a few years.
Rather than being stuck with the same equipment because you bought it directly, leasing fitness equipment gives you the opportunity to upgrade or replace it as new technology emerges. This will give you a competitive edge over other gyms, keeping your members content with the up-to-date, fancy offerings of your facility. Having new equipment also means that maintenance costs and equipment down-time will be low, making both gym members and staff even happier.
3. Save money through tax deductions
What’s better than saving some extra money that you could further use to invest in your gym?
Generally, your monthly lease payments can be deducted on your tax return as an operating expense. These financial savings drive down the overall cost of your lease. Also, although not always the case, some financing options allow for a business to take advantage of certain tax benefits that relate to equipment, such as Mid-quarter Convention, Section 179* and 50% depreciation.
Still not sure if leasing is right for your gym? Get in touch with our financing partners, and we’ll work with you to explore the flexible financing solutions that fit the needs of your facility.