Gym Equipment Finance

A few years ago, free weights and a row of cycles might have equipped a gym. Today you need a choice of weight machines, rowers, cables and much more. Even treadmills and cycles need video screens.

To retain the appeal of your gym and remain competitive, you need the latest equipment. But a £150,000 plus cash purchase of a suite of touchscreen-enabled resistance machines is beyond the resources of most gyms.

Specialised finance for gyms

At Rangewell, we can help you find the finance solutions which can help. Asset Finance arrangements can provide versatile solutions to allow you to equip your gym with the latest fitness gear, and let it pay for itself with the extra customers it brings in.

Asset Finance is lending secured on the asset itself. This reduces the risk to the lender, and to you, because it means none of your other personal or business assets are at risk. If you were unable to make the repayments the lender would simply repossess the asset.

Even more importantly, it can reduce your monthly repayments. Lower risk to the lender can mean lower interest rates to you.

Better than gym equipment suppliers’ financial plans

Gym equipment vendors frequently offer finance arrangements to support their sales. At Rangewell we have found that arranging your own finance can be more cost-effective. By taking out a loan from a specialist lender and paying cash to the dealer it is possible to reduce costs -  even compared with dealers’ ‘interest-free’ offers.

Asset Funding solutions designed for your gym business

Asset Funding solutions include both Hire Purchase and lease arrangements.

Hire Purchase

Hire Purchase allows you to spread the cost of buying your gym equipment. HP agreements usually require you to pay a deposit plus fixed monthly instalments for an agreed term, which can be between 12 and 72 months, after which the assets become yours.

Finance Leases

Finance Leases, on the other hand, let you spread the cost of equipment across its working life. This means that maintenance, repairs, running costs, administration and registration will usually be your responsibility.

Operating Leases

Operating Leases also exist and work in a similar way to a rental agreement. You pay a monthly rental charge to use the asset in question. This type of finance can often be best suited for equipment which will have a limited life, such as any technology-based equipment.

Why you need Rangewell to find finance for your gym

There are many lenders who can provide Asset Finance solutions, but not all lenders will work with all types of business.

Lenders can also offer very different rates and terms. Looking for the most competitive deal across the entire market takes time and expertise.

At Rangewell, our expertise works for you. We know the lenders who understand the fitness industry and who can offer the most competitive rates for all types of finance - whether you are looking for a single new machine, or want to build a completely new state of the art gym.

Getting the finances that are right for you

Coming to Rangewell means getting an expert team working for you and your gym business, and better answers to all your financial needs.

We can discuss your objectives, help find answers that can bring you the equipment you and your customer want, and which will help you build your business.