3 Reasons You Should Lease Your Gym Equipment

For Gym Operators

3 Reasons You Should Lease Your Gym Equipment

Opening a gym? Chances are you’ve got a location picked out and have thought about who your gym’s target audience is.

But have you put some thought into the equipment you’re going to offer in your gym? Should you buy it outright, or would it be better to lease your gym equipment? Consider these three main reasons why leasing fitness equipment may be a great idea for your facility.

1. Focus less on cost, more on value of products

When you lease gym equipment, you don’t have to worry about paying the entire cost of the equipment upfront. Financing institutions such as Key Equipment Finance, the trusted financing partner for Precor equipment, will take your unique financial needs into consideration, developing a payment solution that is flexible and works for you and your gym’s cash flow.

So, instead of worrying about how you’re going to pay for gym’s equipment, you’ll get some room to breathe. Financial concerns aside, you’ll have time to focus on your gym’s equipment and the distinct value that it brings to your facility. This’ll enhance your members’ experiences, as you actively teach them how they can use your facility to reach their health and fitness goals.

2. Offer your members the latest and greatest equipment

Outright paying for your gym’s fitness equipment means that you’re going to have the same equipment for a long time. In the world of ever-changing technology and exerciser interests, that equipment can become obsolete in a matter of a few years.

Rather than being stuck with the same equipment because you bought it directly, leasing fitness equipment gives you the opportunity to upgrade or replace it as new technology emerges. This will give you a competitive edge over other gyms, keeping your members content with the up-to-date, fancy offerings of your facility. Having new equipment also means that maintenance costs and equipment down-time will be low, making both gym members and staff even happier.

3. Save money through tax deductions

What’s better than saving some extra money that you could further use to invest in your gym?

Generally, your monthly lease payments can be deducted on your tax return as an operating expense. These financial savings drive down the overall cost of your lease. Also, although not always the case, some financing options allow for a business to take advantage of certain tax benefits that relate to equipment, such as Mid-quarter Convention, Section 179* and 50% depreciation.

Still not sure if leasing is right for your gym? Get in touch with a Precor Finance and Leasing professional, and we’ll work with you to explore the flexible financing solutions that fit the needs of your facility.

*Consult with your financial adviser regarding tax benefits achieved through Section 179.

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Katie Dobbs
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Katie is a self-proclaimed food connoisseur who loves playing in the great outdoors, traveling, and learning new things.

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