Picking up a dumbbell at a fitness center

Fitness Center Loans Aid in Getting Your Finances into Shape

As a gym owner, you’re passionate about seeing people reach their goals. Your members are striving to beat their deadlifting personal record or run their lowest mile time. They celebrate reaching their goal weight or getting through a difficult cycling class. But what about your goals as a business owner? Supplementary working capital from fitness center loans can give your business the lift it needs.

Improving Your Financial Health with Fitness Center Loans

You’re committed to the business of healthcare and wellness. The value of creating a fitness community that celebrates members’ personal fitness accomplishments is clear. You just need financial help. Fitness center loans can be used to integrate modern technologies, market and advertise, and stand out among your peers in a diverse and competitive industry.

Getting Pumped to Build Your Business

If you’ve been thinking about expanding or renovating your gym, you’re in luck. The fitness industry has been on the rise over the past few years. According to the International Health, Racquet, and Sportsclub Association, the global health club industry earned a total revenue of $87.2 billion in 2017. This number is expected to increase in 2018. More people are joining health clubs than ever before. In 2017, the U.S. had 60.9 million fitness center members, a 33.6 percent rise from 2008.

According to the U.S. Bureau of Labor Statistics, employment of fitness trainers and instructors is projected to grow 10 percent by 2026. These careers are on the rise for the same reason the fitness industry is growing, people are showing increased interest in health and wellness.

The fitness industry has seen a large growth spurt over the past decade, and it isn’t slowing down. With a greater focus on preventative health, consumers of all ages are heading to the gym. However, many people looking to expand or renovate their fitness franchise often overlook the financial necessities. Fitness center loans can help put your plans in motion.

A spin class using equipment purchased from fitness center loans

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.

Find Out How Much Cash Your Business Could Receive

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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.

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Small Business Loans for Fitness Centers and Gyms:
• Employee Payroll
• Gym Equipment
• Gym Expansion
• Insurance Fees
• Marketing Services
• And Much More
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