Give Your Gym a Lift with Fitness Center Financing

Different Uses for Fitness Center Loans

With the influx of gym members, you may have outgrown your current fitness facility. You’ll need to have access to a large space that can fit plenty of machines and pieces of equipment. You might decide to rent out a venue or buy a facility. Working capital from fitness center loans can be used to cover the down payment on a lease, make rent or mortgage payments and oversee any necessary renovations.

Increase Your Gym’s Body Mass

With the influx of gym members, you may have outgrown your current fitness facility. You’ll need to have access to a large space that can fit plenty of machines and pieces of equipment. You might decide to rent out a venue or buy a facility. Working capital from fitness center loans can be used to cover the down payment on a lease, make rent or mortgage payments and oversee any necessary renovations.

Invest in Strong Equipment

Consider the different types of exercise machines required to fill the space and the possible financing you may need to purchase the equipment. You’ll need to buy cardio equipment, like treadmills, ellipticals, and rowing machines, And strength-training gear like leg presses, free weights, and cable machines. You’ll also need to invest in towels, mats, sanitizing wipes, and other smaller-scale purchases.

With many machines in your gym, you may run into equipment difficulties on a regular basis. Fitness centers loans can help you repair and replace machines to make sure your gym members stay satisfied and safe.

Find the Right Support System

Employee payroll loans can be used to hire additional staff to keep your fitness center in proper working order. This includes janitorial staff to keep all areas of the health club tidy and to comply with state and national health codes. If you’d like to offer fitness classes or personal training sessions for members, you’ll need to hire personal trainers and instructors.

Additionally, you’ll want to hire front desk employees to greet members, answer phones, and resolve any concerns customers have about their membership contracts. Each of these staff members might be paid on an hourly basis, but consider offering some benefits to keep your employees happy. Fitness center loans can help you pay your employees competitive wages and fund benefits.

Scale Your Marketing Plan

People won’t know your gym exists unless you integrate marketing techniques into your business plan. Fitness center loans can help provide the funding for marketing and advertising in order to secure radio spots or ads in local newspapers and magazines. Free marketing strategies in the form of social media posts can be effective, but they may not be enough to reach your business goals. Consider hiring a social media strategist to employ and analyze social media initiatives.

Fitness Center and Gym Loans from QuickBridge

There are plenty of ways to obtain a small business loan to grow your gym. For instance, you might think about getting in touch with investors who can lend you money in exchange for a percentage of the profits. Think “Shark Tank” without the cameras. The trouble with this route is that investors can be difficult to find. In addition, when you start a partnership, you give up a portion of your ownership. This means you’ll need to run most business decisions by your investors.

For quick cash and fast approval rates, consider working with an alternative lender. Alternative lenders have less stringent approval requirements than traditional banks. They also have faster approval periods with minimal paperwork. This gives you access to cash quickly, so you can start putting the capital to work.

At QuickBridge, we provide smarter funding. Our fitness center loans are designed to match the unique needs, opportunities, and rhythms of your business. Over 84% of our repeat customers see their business revenue improve after working with us. Contact us today to get started.