In normal times, gyms and fitness centers are complex and costly to maintain. With tens of thousands of dollars’ worth of equipment, fluctuating membership rates, high maintenance fees, and more, gyms have always required high volumes of cash flow on hand. Now, as the world moves through Covid-19, gyms have even more to worry about.
First off, in many places, to even stay afloat, fitness centers have to abide by certain health and sanitization rules that often require more staff. Secondly, Covid-19 fueled the trend of home workouts to unprecedented levels. Now, fitness lovers have home gyms or have found programs they can do from their living rooms. In order for gyms and other fitness centers to continue operations, they have had to find ways to compete and figure out how to keep the doors open with limited money incoming from customers. Business financing for fitness centers can make all the difference in the world as health centers navigate unprecedented levels of obstacles.
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How it Works: Business Funding for Gyms, Fitness Centers, Spas
Securing funding for your fitness center is easier than you might think! If you’ve noticed a lull in enrollments or have lost clients to home workout gear and programs, a small business loan can be the perfect solution. Working with our team at United Business Funding is a breeze and, once approved, we’ll help set you up with a flexible payment schedule that is compatible with your business. In order to get approved, you’ll need to be fully operational, deposit at least $10K a month into your business accounts and have a reliable credit history. It’s a much more seamless process to work with UBF for financing than you’d find at most banks.
How to Use the Financing
For the most part, deciding how to use the loan money is completely up to you. We have had fitness centers that revamped their equipment and invested in new machines with the money provided they borrowed. We have also seen gyms hire new teaching staff or new trainers to help bring additional clients to their gyms.
The competition in the fitness industry is off the charts right now, so gyms are doing all they can to set themselves apart. For some, that looks like adding perks such as a smoothie bar, for others, it comes in the form of a swimming pool or tennis court. Whatever you’re doing to differentiate yourself as you recover, we can help! Retail business financing is an area where we have a lot of expertise, so get in touch with our team today to see how we can help you.
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Don’t Work[out] Too Hard
You have enough on your plate right now. The entire fitness industry is trying to adapt to the new normal, bring in new clients, and keep their current clients happy enough to stay. There’s endless competition popping up every day and your focus should be your fitness center, not dealing with confusing business funding for gyms. With UBF, it’s straightforward and simple, so you can put your energy where it needs to be. Business financing for fitness centers doesn’t have to give fitness center owners a headache, at least not with UBF! Visit our website today for a free quote.