If you have been following our blog series on financing your own gym, then you should know that we at First Capital Leasing Ltd. recommend you lease your fitness equipment. That is because leasing gives you the flexibility to periodically upgrade your equipment, which is essential for retaining existing and attracting new clients.
However, we have also made it clear that not all gym equipment should be leased. Classic fixtures like free weights, the bench press, and the pull-up bar age well, making the upfront cost of a purchase well worth it.
So what kind of gym stock should you lease? It is argued that 2 broad categories of gym equipment are worth leasing: cardio equipment and weight machines.
And where better to lease them than at First Capital Leasing Ltd.? Thanks to our 95% approval rate, you are almost guaranteed to find the inventory you need at terms that fit your budget and timeline. Call 1-888-251-3644 or fill out the online contact form to begin the leasing application process for your favourite gym equipment.
Lease Your Cardio Equipment
Every gym should include the following cardio equipment:
- Stationary bikes
- Aerobic steppers
- Rowing machines
These machines are worth leasing because they are often subject to innovation. Every year, these machines are rolled out with better software to track your fitness progress. With ever more precise calorie counting, cardio equipment nowadays can even register your weight loss goals and create a personalized routine to help you reach them. Some programs even allow you to upload a trajectory from Google Maps for you to complete vicariously on a treadmill! Other features that increasingly populate the latest cardio equipment include voice recognition, smartphone compatibility, and TV screens.
More than novelties, all these capabilities significantly elevate user experience and make what would normally be a grueling workout much more tolerable. Your clients care about whether or not your elliptical machine can count calories. They want to watch their favourite channels when jogging on a treadmill. And they want to feel the incline of a natural bike path when they are pedalling on your stationary bike.
If your gym does not offer innotivate cardio equipment, your clients will look for a gym that does. Lease your cardio machines to ensure you are always trotting out the latest gadgets every few years.
Lease Your Weight Machines
Most lever-operated weight machines are safe bets for leasing. First, these instruments can get quite expensive, especially the multistation ones. Buying a weight machine for every major muscle group can cost you a pretty penny—often in the tens of thousands. Leasing them, on the other hand, relieves you from prohibitive upfront payments and saves you much-needed capital during the first few years of your gym.
Second, while less prone to breakout designs than cardio machines, weight machines do receive new features once a while. Changes mostly relate to comfort, effectiveness, and safety measures. For example, newer leg press machines are equipped with built-in injury-prevention mechanisms that kick in when the user is fatigued. Newer weight machines are also more adjustable, providing the user with a healthier range of motion and minimizing strains.
Weight machines do not always receive a refresh every few years like cardio equipment do, but seasoned gym rats can still tell the quality of your weight machines at a glance. And if you want to make them use your facility, you should probably offer them state-of-the-art weight machines. A lease would be the best way to go about that.
Leasing Your Cardio And Weight Machines
If you plan to lease a portion of your gym equipment, you should focus on cardio and weight machines. These instruments are expensive, which makes the outright purchase a daunting prospect. Additionally, they regularly receive technological and ergonomic upgrades. Gym goers love this, so a facility fielding the latest equipment will always find more success than one that does not. A lease allows you to switch up your gym equipment every few years at a fraction of their full price.
Over its 30 years of service, First Capital Leasing Ltd. has helped dozens of budding gyms in Canada become established enterprises. An important part of their success lies in inking advantageous lease terms for their fitness equipment. Given our 95% approval rate, you will find leasing with us extremely profitable. Call us at 1-888-251-3644 or fill out the online contact form to get started.
Why can’t I lease my gym equipment directly? Why work through First Capital Leasing Ltd.?
You certainly can lease your equipment by yourself, but your supplier may not be as flexible as we are. We offer tailored financing solutions at superior rates that perfectly align with your budget and timeline.
What if I want to lease my equipment after having purchased it?
First Capital Leasing Ltd. offers multiple sale-leaseback plans. You sell the equipment you own to us, and we lease it back to you at advantageous rates. This frees up significant working capital which can be invested in expanding your business.
Does First Capital Leasing Ltd. offer financing or leasing solutions to start-ups?
Yes. We have worked with start-ups and Fortune 500 companies (and anything in-between) since our establishment almost 30 years ago.