Commercial Fitness Equipment Leasing Options
When looking to lease fitness equipment for your gym, you want to be sure, much like everyone else, that you are getting the best possible deal. Solid gym equipment leasing will have a major impact on the return on your investment as well as the overall success of your company as a whole.
Any financial decision can have a major impact on a company’s cash flow and reserves, and leasing equipment is no exception. Business owners and comptrollers need to weight their options very carefully before proceeding with any sort of fitness equipment lease.
So what to consider before leasing exercise equipment? You need to match the financing terms to the life of the asset. Short term financing works for short term needs and long term financing for long term needs. Long term would mean equipment that is going to generate revenue or reduce operating costs for the future.
Fitness equipment leasing makes sense in that it frees up capital that may be used elsewhere, as well as tax considerations and the ultimate cost of the equipment. Traditional loans often come with a substantial down payment that can rob you of much needed funds.
Leasing commercial gym equipment makes sense not only in preserving cash for other projects, but also provides for a measure of flexibility for companies that don’t have a lot of extra cash on hand. The owners of the equipment lease retain ownership of the equipment, which means that companies may upgrade should their requirements change during the course of the term. Most leasing companies also do not require a heavy down payment, and longer term payment plans may improve cash flow. Leasing may also be written off as a business expense.
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Leasing Fitness Equipment In 2013
To find the best leasing terms, prioritize your needs, then search for the best combination of terms, rates, flexibility, and customer service. Beware of upfront payments and fees, as well as other clauses that may end up boosting the overall cost of the equipment. Have a third party review your agreement to lease fitness equipment to make sure you are not foregoing any benefits that you may be entitled to.
When considering a fitness equipment leasing firm, you should always check references and read the contract thoroughly before making a final decision. Look at things like tax deductions and residuals due at the end of the lease. There may also be clauses for servicing the equipment. Your gym equipment leasing provider needs to be someone that you trust and who is committed to your success.