Get State-of-the-Art Gym Equipment with Leasing: Cost-Effective Solutions

Fact Checked By: Ashley Smith

Experienced journalist with over 12 years reporting on business and tech news.

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When you own a gym having state of the art equipment is a must. Without it, customers will find another place to work out.

But, buying all of that equipment is expensive and can be a major drain on your cash flow.

Leasing is a popular alternative to buying gym equipment because there are few, if any, upfront costs. Leasing is ideal for startups or existing gyms that are looking to expand or upgrade without shelling out a lot of cash.

Corporations and nonprofits are also turning to leasing to provide gym equipment for their employees.

Manufacturers don't offer leases, but secondary leasing companies do. They buy the equipment and charge you a monthly fee to use it.

At the end of the lease, you can buy the equipment from the leasing company for fair market value or trade it in for new equipment.

Gym Equipment Leasing Average Cost #

As a general guideline machines like commercial treadmills, ellipticals, and stationary bikes can be leased for $60 to $200 per month. Volume discounts are available for large leases.

With a lease your gym pays only the amount each machine is expected to depreciate while it is located in your facility.

In most cases, a labor and parts warranty is included in the lease so you won't have to worry about the cost of repairs.

Some leasing companies offer 100% financing while others require a down payment, security deposit, and the first and last month's lease payments.

Be sure to ask for a complete list of all upfront costs before signing a lease agreement.

Here are some approximate ranges of leasing costs for different types of gym equipment:

Real Life Gym Equipment Leasing Cost Examples #

• "I leased a package of gym equipment for my small boutique fitness studio including treadmills, elliptical machines, stationary bikes, rowing machines, and a functional trainer. The total 36 month lease for the $42,000 equipment was $1,250 per month." - Sarah, Studio Owner

• "For my home garage gym, I leased a cable crossover machine, Smith machine, lat pulldown machine, multi gym, selectorized dumbbells, and rubber flooring. The 4 year lease deal was $210 per month for the $12,000 in equipment." - Michael, Home Gym Owner

• "For my facility, I leased various free weights, kettlebells, medicine balls, weight racks, benches, lifting platforms, and mirrors. The 60 month total lease cost for the $65,000 in workout gear came out to $1,375 per month." - Chris, Gym Manager

• "I run a small women's only kickboxing and HIIT workout studio. I leased hanging heavy bags, standing bags, gloves, pads, a full octagon ring set, and flooring on a 24 month $980 per month lease." - Jennifer, Studio Owner

• "We upgraded equipment at our commercial gym including 5 treadmills, 8 elliptical trainers, recumbent/upright bikes, 6 weight racks, flat/incline benches and a new stereo system. Our 36 month lease on $125,000 worth of gear is $3,900 monthly." - James, Gym Owner

• "For my hot yoga studio and spin classes, I leased extra premium yoga mats, yoga balls, foam rollers, studio mirrors, 12 spin bikes and more. The 5 year lease deal will run me $625 per month." - Jessica, Studio Manager

As you can see, leasing high-quality gym equipment allows small and growing fitness businesses to keep upfront costs low while getting essential tools for classes and training. Monthly payments allow for flexible budgets.

About Leasing Gym Equipment #

Just about anything you need to equip your gym with is available for lease:

• Treadmills
• Elliptical machines
• Free weights
• Weight machines
• Exercise benches
• Exercise mats
• Aerobics equipment
• Specialized training equipment

Leases span anywhere from 12 to 60 months, but most are either 24, 36 or 48 months in duration. You can opt for new equipment or save money by leasing used or reconditioned equipment.

Either way, you'll have access to top brands without depleting your bank account or accessing bank credit.

Although most leases are aimed at commercial customers, gym equipment can also be leased for residential use.

Leasing Gym Equipment Buyer's Tips #

There are several steps you should take before shopping around for a leasing company for your gym equipment:

• Make a list of all the equipment you need. This will expedite the quote process.
• Ask your accountant or tax attorney if you'll be able to deduct the lease payments from your taxes. In most cases the answer will be yes.
• Decide on a budget. What are you comfortable spending each month?

Once you've compiled all of that information shop multiple leasing companies in order to get the best deal. Ask each leasing company for references to make sure they're reputable. Lastly, always run the numbers when it comes to leasing vs. buying. What are the long term costs of both?

Resources:

• SHOULD MY GYM LEASE OR PURCHASE NEW EQUIPMENT?

Use Our Free Service and Find Equipment Leasing Companies #