Should Your Company Lease Or Buy Fitness Equipment?
Should Your Company Lease Or Buy Fitness Equipment?
Article by Lee Piel
As a country, Americans eat more junk food than any other nation. In fact, we eat so much that a random observer might believe that Americans are not really interested in being healthy. But the record sales of exercise and fitness equipment and the annual sales of health foods would belie that belief. Taking note of this fact, many employers, in an attempt to attract new employees, have installed gyms on their premises.
Installing a gym can be a daunting task, especially if you are the one in charge of implementing it. You have to find an appropriate space, ensure that you have the right kinds of flooring, provide facilities for changing and possibly showering, and you have to worry about liability issues. But, most of all, you have to think about what types of equipment you want to install in the gym.
One of the ways that you can make things easier on yourself is to outsource equipment decisions to one of the many companies that lease gym equipment. Gym equipment leasing companies are up to date on the latest types of fitness machines and equipment around and can consult with you in choosing the right types and quantities of equipment for your exercise space.
Leasing exercise equipment helps to resolve a couple of other issues as well. The first is the issue of cash flow. To purchase enough machines to furnish your gym would cut deeply into the company’s cash. Cash that can be used for other purposes. Secondly, buying good quality exercise equipment is expensive. But, in the long run, it is less expensive than all of the repairs and breakdowns that you will experience if you opt to buy the cheaper machines.
Leasing helps to get you around both of these problems. Because you don’t have to outlay a bundle of upfront cash to buy exercise machines, your cash flow situation is improved. And, by leasing, you can get afford to install some of the better quality machines without having to worry about cost.
Finally, at the end of the lease, you can either renew the equipment for another period of time or replace it with brand new equipment. Or, if you choose, most contracts will also offer a buy out option. This allows the company to purchase the equipment at the current fair market value.
With leasing, your boss will, most likely, be pleased with your solution for furnishing the gym. Leasing provides a ton of tax advantages for a corporation which will help to greatly offset the entire expense of the employee gym.
Most companies will have a variety of leasing programs. If you are leasing a large number of fitness machines, they will undoubtedly offer you a quantity discount. If you are a non-profit organization, ask if they offer special rates for non-profits or charitable groups.
You can also lease for various periods of time. For example, if you simply want to try out a certain model of machines before a making a long term commitment, you can simply lease a few for three or four months. If you like them, you can extend the lease for a longer period of time. The key thing is that leasing offers a great deal of flexibility in allowing you to furnish your gym.
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