How can your fitness center be improved? How much does it cost to lease gym equipment?
When it comes to your fitness center, it’s all about the equipment that you put in it. There are many factors to a gym, but the vast majority of people want a gym with all the bells and whistles in it for a host of reasons, mainly to get everything they want out of a fitness center.
Everyone wants something different out of a gym, from cardio to weightlifting to aerobics and yoga and everything in between, and they all want the most out of each section.
Nothing’s worse than waiting for a machine you want to use, or not being able to go to a class you want to attend, or just not having a machine that’s ideal for you, and that’s why having both quantity and quality in your fitness equipment is mandatory.
That’s why so many business owners want to know how much does it cost to lease gym equipment versus purchasing the hardware; they can spend a great deal of money and get as much of the hardware they want as possible.
The Wrong Way to Lease Equipment
A lease is basically a contract and a loan combined; you get the equipment loaned to you, and you are obligated to pay a flat, monthly rate for an extended period of time. There are many factors to a lease because it’s a contract, and the wide variety of options makes quite a few different types of leases.
However, every business has different needs for their equipment, so there are leases that are more and less ideal for your business versus another business. For instance, you could just want the equipment for a shorter period of time, or you might want a specific deal when it comes to upgrades or equipment repair that other leases do not have and other companies don’t need.
If you were going to buy a car, you wouldn’t just grab the first one you saw when you got to the dealership; you’d come prepared, knowing what you want and what you want to pay, and not settle until you felt completely comfortable with that specific car. The same is true with leasing; do your research, find out what can be offered in a leasing contract, and give yourself a reasonable goal of what you want out of the lease that can actually be an asset to your business.
Most importantly, don’t settle for any lease; find the one you want and get it, because these leases will be a huge part of your company for years to come. Many a business is paranoid of leasing because they just acquire whatever lease they can find and get stuck paying for an overpriced lease or in a contract that’s far too long for what you need, putting you in a position to deal with a high cancellation fee.
Why Purchasing Equipment isn’t the Best Move
There are quite a few reasons to purchase equipment, but there are more reasons to not buy the hardware. For example, you get money to pay for the equipment if you claim it as a business asset, which is great.
In addition, the ability to actually own the equipment makes the entire process more worth it for business owners, because they want to own everything connected with their fitness center. However, to get a good gym working, you need a lot of equipment and each piece of hardware (especially in cardio and weightlifting) is guaranteed to cost quite bit of money, more than the average entrepreneur has.
That would end up forcing you to get a loan, something business owners always want to avoid. Even if you could afford to pay for the equipment, there are two major downsides to equipment that become a serious downside if you buy it: equipment malfunction and equipment becoming outdated.
It’s a guarantee that within a few years, the hardware you buy will break down to the point where it’s more fiscally wise to buy new hardware or become outdated, putting you behind versus your competition. With equipment that’s more affordable, this is likely to happen very soon, meaning you spent a good deal of your money just to have to spend the same price if not more within a few short years.
How much does it Cost to Lease Gym Equipment?
For most business owners, they want the good equipment but the bottom line is cost and the downsides that come with it.
Getting good hardware is tough for a low rate, but that’s why leasing is such an effective solution; you’re getting furbished, well running equipment at a low flat rate, and you don’t have to suffer the full price again if your equipment breaks or becomes outdated.
Leasing is suitable for start up and even veteran businesses, because they can take advantage of a lease to get their company onto its feet and then they can buy the equipment once the contract is up. To learn more about how much does it cost to lease gym equipment, click here.