How to Lease Gym Equipment

Leasing gym equipment can be an excellent method for either starting up a fitness club business or to save costs if you're only living somewhere temporarily. Typically, gym equipment lease agreements come with free maintenance, allowing the renter to save on repairs while reducing initial costs. Manufacturers don't offer lease agreements, but there are many secondary companies that specialize in renting gym equipment to individuals, property management companies and fitness businesses.

Instructions

1. Determine your requirements for fitness equipment. If you're only planning to keep the equipment for a few months, the initial moving fees and other costs may make leasing cost-prohibitive. Only sign a lease agreement if there is some stipulation to provide for repairs and maintenance. Look for lease agreements that include insurance so that you won't have to pay for the damage or destruction of a unit.

2. Review the types of equipment that you would like to purchase. Measure the space where the equipment will be moved to in order to make sure that you have sufficient room for all the equipment that you plan to rent. Estimate how many people will be using the equipment and how many of each unit you may need to meet their needs.

3. Find a fitness equipment rental company in your area with sufficient inventory to meet your demands. If you own a fitness business through a larger franchise, the parent company may be able to put you in touch with an equipment supplier. Ask many questions about special fees for renting equipment, the period of the lease, whether the rental payments will increase at renewal time and any other questions that you may be able to think of. Request referrals from any company that you contact so that you can double-check that the business lives up to its obligations.

4. Sign a lease agreement that works for you or your business. Try to sign a single agreement for all the equipment that you rent to prevent confusion and potential problems down the line. Transmit appropriate payment and wait for the equipment to be delivered. Almost every fitness rental company will run a credit check on the individual or business before approving a lease agreement

5. Receive delivery of the equipment. Place it appropriately. Perform only as much maintenance as you are required to by the lease agreement.

References

• Gym Equipment Lease Guide
• BusinessInfoGuide: Gym Business Guide

Resources

• Example: RentFitnessEquipment.com
• Business Directory: Fitness Equipment Leasing