Equipment Leasing
You can lease almost anything
Most Gym equipment is acquired on finance lease. Business owners are often surprised by the sheer variety of equipment obtainable on a lease.
Office fixtures and furniture to commercial vehicles — it's almost limitless what lenders will offer leasing finance on. As well as being a good way to access expensive equipment, leasing can also be useful for subcontractors with a series of short term projects lined up, who want to rent a piece of equipment for a set period of time.
Rather than having to wait for adequate savings or the profit to roll in, leasing equipment means it can arrive at your door within days. You can also get a much higher standard of equipment than you might otherwise be able to afford if you purchased it outright.
Not a fixed asset
Generally, when you lease a piece of kit, you don't own the title of the asset, and therefore it won't go on your balance sheet. In most cases this can be very tax efficient.
Suitable for new, growing, or established Gym Businesses
Equipment leasing is an efficient way for new-start businesses to get hold of the tools they need. You may need to be VAT registered and, if your business is a start-up, you might need to provide a credible personal guarantee to the lender. Once you're set up and the business is making suitable profits, you may then have the opportunity to own the asset after the lease period.
