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.’
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