WNiF Magazine - Spring 2012 Edition | Page 32

Option 2. Fitness Equipment Suppliers. Life Fitness Australia is one distributor who offers finance for purchases of their own products. They currently work with numerous health clubs and facilities such as Anytime Fitness and YMCA, as well as personal training studios, hotels, resorts, schools, universities and the Defence Force. With 15 years of experience in the industry and over 300 different types of gym equipment available, Life Fitness Australia is a one-stop source for fitness solutions, including extensive pre and post-sales support and service. Of course, it’s not just the equipment itself that is important when choosing which brand to integrate into your business; you want to ensure that the company offers prompt service should anything go wrong. Their range includes new and pre-owned cardio equipment such as treadmills, bikes and cross trainers, as well as strength equipment and free weights in both the Life Fitness and Hammer Strength ranges. Again you have the flexible options of outright purchase, operating lease/rental or lease purchase Of course, it’s not just the equipment itself that is important when choosing which brand to integrate into your business; you want to ensure that the company offers prompt service should anything go wrong. Paul McClure, Managing Director of Life Fitness Australia, says ‘In Australia, we have the largest commercial marketshare and infrastructure, which means we can employ the service and installation teams required to service our customers equipment and needs.’ 32 Life Fitness Australia has a turnaround time from one week for standard orders, to up to 14 weeks for special orders. Head to their website for a quote www.lifefitness.com.au or visit a showroom in Mulgrave (Vic), Chatswood (NSW), Geebung (QLD) or Bassendean (WA). Other equipment brands who offer finance on their own equipment include: • • • • Technogym (www.technogym.com/au) Precor (www.precor.com) Matrix (au.matrixfitness.com) Summit Fitness Equipment (www.summitfit.com.au). Option 3. Traditional Financial Institutions. Tanya Weeks is the Owner of Vicious Cycle (www.viciouscycle. com.au), an indoor cycling studio at Bondi Beach (Sydney). After moving to Bondi three years ago, Tanya decided she no longer wanted to attend a big gym where she wasn’t making use of all the facilities. She looked online for a standalone indoor cycling studio but couldn’t find one; but not only that, Tanya discovered a community of people online who were looking for the same thing. ‘l found standalone cycle studios all over the US, and considering there is yoga, Pilates and PT studios l couldn’t understand why no one here had developed a model for an indoor cycling studio.’ And so Vicious Cycle was born. Once Tanya decided she was going to proceed with her vision, it was a 10-month process until the doors opened. Now, offering 20 classes a week, servicing more than 200 participants, Tanya couldn’t be happier. The finance side of things did take some research. Tanya explains, ‘l had my own funding but l needed more, so l looked at leasing equipment but the equipment available for leasing was not what l wanted for the studio. So, when l found the bikes l did want, l went to a bank. I had a solid business plan and that helped me with my application’. Tanya successfully secured a commercial lease for her Body Bikes. Tanya’s advice to anyone looking to finance their own venture is: ‘Don’t underestimate how much capital you need for the first year. It’s difficult to predict the way the first 12 months will run, so plan for anything, and make sure you have enough capital to support you through it.’ WHAT’S NEW IN FITNESS - SPRING 2012