The Challenge

A Victorian fitness studio owner had been running her business for a few years but felt like she needed to upgrade her equipment to keep up with the competition that had popped up nearby. She also knew that this would be a re-occurring event, with refreshes planned every 3-5 years to keep in line with evolving technology. 

She decided to work with a broker she had previously used, who specializes in finding financing solutions for small business owners. They suggested that she explore equipment financing to upgrade her gym without taking on too much debt.

 

The Solution

GRENKE worked with everyone to create a financing package to allow her to purchase new equipment. Through GRENKE the customer was able to acquire a variety of equipment options, including treadmills, weight machines, and ellipticals. She was able to choose the equipment that best fit her business needs.

The agreement included manageable monthly payments and flexible terms that allowed the director to pay off the loan on a schedule that worked for her and her business. Additionally, GRENKE provided an end-of-term letter, which outlined to the owner how to choose what she wants to do with the equipment at the end of the loan term.

 

The Outcome

With the help of their broker and GRENKE, the fitness studio could install the equipment she needed to upgrade her gym and stay competitive in the market. They spread out the cost of the new equipment over time, allowing her to maintain her cash flow and avoid taking on too much debt at once.

Her gym now offers state-of-the-art equipment that has improved the overall experience for her clients. She has seen an increase in memberships and revenue due to the upgrade. She also has peace of mind knowing that she can upgrade at the end of her equipment's life cycle.

The fitness industry moves fast, but financing with GRENKE means your clients always stay caught up. With our affordable asset financing options, you can ensure their gym is fully equipped with state of the art in fitness equipment and an experience so smooth they'll come back to you for every refurbishment.