How gyms can take advantage of the “new year, new you” trend

January can be a busy time of year if you’re in the gym and leisure industry. With so many people having overindulged in the Christmas period and a lot of people making their new year’s resolutions to get fitter, lose weight and just generally be healthier, gyms can take advantage of having up-to-date equipment, a fresh new look and all the facilities needed to make people want to take out that all-important membership.  

For you to make the most out of this busy season, cash needs to be freed up from somewhere in your business and anyone in the gym and leisure industry knows how frustrating it is to wait until you have enough cash upfront to purchase an asset. Therefore, gyms need flexible finance that is available quickly, and easily and will ensure that the business can continue to grow whilst doing so. 

How can asset finance benefit the gym and leisure industry? 

At PMD, we are able to acquire business funding through the strong, robust relationships we have built with responsible lenders, allowing us to match our customer’s specific circumstances and requirements directly with the appropriate lender. If you’re wanting to purchase new equipment or get a refurb done for the new year, then asset finance could be the perfect solution.  

Asset finance is a business finance option that allows you to acquire the assets and equipment you need without having to pay up-front. It works by paying a regular amount for the asset you need over an agreed period of time, avoiding the full cost of buying outright. To jump on the New Years’ Resolution boom, asset finance could really be the way to go for your gym and leisure business, as you’re able to obtain the asset and benefit from it without paying an upfront cost, in full, freeing up cash for use in working capital. 

What are the benefits gyms can expect to see from asset finance? 

In addition to the above, there are many other benefits that asset finance can bring to your gym and leisure business, including: 

  • The ability to grow your business without the constraints of saving to purchase the asset, meaning you can access the latest equipment and technology quicker, giving you the edge over competitors.
  • Help to maintain a healthy cash flow and control over working capital by spreading the cost and avoiding a big, upfront payment.
  • The facilities provided by most funders will not affect your bank borrowings.
  • Asset finance can potentially make it easier for additional finance needs
  • Avoids being limited to your bank being the only source of business finance. 

Which gyms are eligible for asset finance? 

  Any business within the gym and leisure sector that can meet its financial obligations is eligible for asset finance, which is great news in terms of the time of year. With the New Year already in full flow, a lot of new members join gyms and clubs, and it’s crucial to keep them motivated with the latest fitness equipment being available. This means that new, shiny, top-of-the-range equipment is needed as quickly as possible. Finding the best asset finance for your business can be complicated, that’s why it’s a good idea to speak to an experienced financial facilitator, who is well-versed in asset finance and has an extensive network of asset finance providers.

How PMD can help you gain the best asset finance for your gym and leisure business.

Here at PMD, we work with around 150 asset finance providers who all specialise in either certain industries or asset types, providing specific facilities that will not affect your bank borrowing. We take the hard work out of securing business funding, leaving you to concentrate on growing your business. We liaise with funders on your behalf and secure the best possible terms to suit your requirements. 

If you work in the gym and leisure industry and are considering asset finance to help those new resolution-ers through your doors in January, get in touch today and see how PMD can help. 

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