As a gym business consultant, I understand the struggles that come with growing and expanding your business. Whether you’re a new gym owner or have been in the industry for years, financing can be a major obstacle to achieving your goals. Luckily, there are options available that can help you take your business to the next level. In this article, I’ll share some high impact, high engagement tips for growing your gym business with financing.
- Consider unsecured financing If you’re in need of funding but don’t want to put up any collateral, unsecured financing may be the way to go. Unlike secured financing, which requires you to put up assets like equipment or property as collateral, unsecured financing doesn’t require any collateral. This means you can get the funding you need without risking any of your assets.
- Use funds for any purpose Another advantage of unsecured financing is that there are no restrictions on how you can use the funds. Whether you need to purchase new equipment, hire additional staff, or expand your facility, unsecured financing can help you achieve your goals without any limitations.
- Get same-day prequalification One of the biggest advantages of working with a reputable financing company is that you can get same-day prequalification. This means you’ll know within minutes whether you’re eligible for funding and how much you can qualify for. This can help you make decisions quickly and move forward with your plans without any delays.
- Funding available from $50K to $400K Another benefit of working with a financing company is that you can access a wide range of funding options. Depending on your needs, you may qualify for funding ranging from $50,000 to $400,000. This can provide you with the flexibility you need to achieve your goals and take your business to the next level.
- Credit score requirements While unsecured financing doesn’t require collateral, it does require a good credit score. Most financing companies require a credit score of 680 or better in Equifax, Experian, and TransUnion. This means you’ll need to have a solid credit history to qualify for financing.
If you’re ready to take your gym business to the next level, financing can be a great tool to help you achieve your goals. Whether you’re looking to purchase new equipment, hire additional staff, or expand your facility, there are financing options available that can help you achieve your goals. Contact Fitness Management & Consulting today to learn more about your financing options and start growing your business!
An Outsourced CEO and expert witness, Jim Thomas is the founder and president of Fitness Management USA Inc., a management consulting, turnaround, financing and brokerage firm specializing in the gym and sports industry. With more than 25 years of experience owning, operating and managing clubs of all sizes, Thomas lectures and delivers seminars, webinars and workshops across the globe on the practical skills required to successfully overcome obscurity, improve sales, build teamwork and market fitness programs and products. Visit his Web site at: www.fmconsulting.net or www.youtube.com/gymconsultant.