SETTING UP A GYM OR PERSONAL TRAINING STUDIO? PURCHASE, HIRE OR LEASE

Are you looking at setting up a gym or personal training studio? Do you have the funds to purchase equipment outright? Or have you been thinking of taking out a loan? or possibly hire purchase? There is another option; gym equipment leasing. 

Leasing can be a great option with many benefits to a business including:

1) Keeping cash within the business rather than parting with large quantities up front.

2) There are fantastic tax benefits as you can reclaim the monthly VAT charges and offset repayment interest against profit.

3) Unlike Hire Purchase, you are not required to pay the full amount of VAT upfront for the equipment, instead, you pay VAT on your regular payments.

4) The cost of leasing an asset is deductible as a business expense so this can reduce your overall tax bill.

5) Spread the cost of payment over a period that works for you.

6) Instant access to the gym equipment.

Finance lease is a type of equipment lease. Your business rents the equipment for most of the item’s useful life. By the end of the term, all of the monthly payments will add up to the full cost of the asset plus the interest set by the lender. At the end of this finance lease you have the option of paying a nominal fee to buy the equipment, or you can return the equipment, or you can take out a new lease to purchase further equipment.

As with any significant financial transaction you are advised to speak to a financial advisor/accountant to work out what form of finance works best for your circumstances. If you would like to find out more about leasing with Amica Fitness please do get in touch. Email: info@amica-fitness.com or contact 020 8050 6036.

We can also assist in gym design and installation. So if you are looking at setting up a gymn or personal training studio get in touch.

Browse our products here https://www.amica-fitness.com/collections