Gym Equipment Finance
Getting your business finance fit - trim the costs and make sure your business gets the equipment it needs for less
Current Terms Available
- HP up to 60 months
- Cost effective
- No capital requirement
- Undercut "0% finance" deals from suppliers
- Suitable for all types of gym equipment
- Choice of leasing arrangements
- Up to 100% funding
- Low rates – lending secured on assets themselves
- Funds for any legal purpose
- Up to 100% Loan to Value available
- Refinance existing assets
- supports business growth
Talk to Rangewell – the business finance expertsYour gym can be a lucrative business, but you must have the most appropriate funding. We work across the entire lending market, and can find lenders who understand your business, and can provide the most competitive finance for your needs.
The fitness industry is highly competitive. Your gym business needs the latest equipment to bring in customers. - and than means a growing need for 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 lets you spread the cost of buying equipment. HP agreements usually require a deposit plus fixed monthly instalments for the agreed term which can be between 12 and 72 months, after which the assets become yours.
Finance Leases let you spread the cost of equipment across its working life. Maintenance, repairs, running costs, administration, and registration will usually be your responsibility.
Operating Leases also exist and work like a rental agreement. You pay a monthly rental charge to use the asset. This type of finance can be best suited for equipment which will have a limited life, such as 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.
REAL EXAMPLES OF WHAT WE CAN DO
Find the most competitive loan to allow a small gym to buy a suite of resistance machines
Help an existing gym finance the purchase of running machines with inbuilt video technology
Source leasing arrangements to set up a complete micro gym as part of an apartment complex
Find HP funding to allow an existing gym to re-equip with everything from free weights to an audio system
Help a national gym chain equip every branch with state of the art computerised machines
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.
Helping you build your profits
Spreading repaymentsYou may not even need a deposit with some types of asset finance, and repayment can be spread over years to fit your monthly budget...
Avoiding riskTraditional business funding can put your business assets, or even your home at risk. Asset funding is secured on the assets themselves. If repayments became a problem, the lender could simply repossess the equipment.
Setting up your businessAsset finance arrangements can provide a level of finance to fully equip a new gym business.
Leasing complex equipmentThe latest internet-connected machines use sophisticated technology. Leasing can transfer this technology risk to the lender.
Cover all your equipment needsAsset funding can cover virtually any type of gym equipment. A single arrangement can cover items from multiple suppliers.
Better than 0% financeSome gym equipment dealers may offer 0% finance deals. Call Rangewell to understand how we can help you pay less than with these ‘interest-free’ deals.
Download Rangewell’s free and detailed guide to Financing Your Gym Equipment
What is Asset Finance - and how it gives you a business advantage
What are the types of Asset Finance - which do you need?
Why not all providers are equal - finding the one that’s right for you
How we can help you pay less than 0%
The downsides to Asset Finance - and how to avoid them
How to arrange Asset Finance - what paperwork do you need?
Key terms explained
You may need a specialist lenderSome lease companies may specialise in particular business areas. You may need expert help from the Rangewell team to find a lender who can work in the fitness sector.
Your key equipment could be at risk if you cannot make repaymentsIf you are unable to keep up repayments on a hire purchase or lease agreement, the equipment your business depends on could be at risk.
Long-term commitmentLenders may view long-term equipment finance arrangements as debt and adjust their valuation of your business. This could reduce your ability to call on other types of business finance.
Our service is...
ImpartialTransparent and independent, treating all lenders equally, finding the best deals.
In-depthEvery type of finance for every type of business from the entire market - over 300 lenders.
In-personSpecialist Finance Experts support you every step of the way.
FreeWe make no charge of any kind when we help you find the loan you need.