The UK’s fitness industry is in amazing shape, and you may want to capitalise on that by becoming a PT. But there are a few financial hurdles to cross first. You need the kit, cash and confidence to make the most of your skill set from the start.
Unfortunately, many banks and traditional lenders see a one-man PT business as too much of a risk. That’s why alternative routes to finance are better and more flexible.
Here, we explain the perks of fast, no-nonsense financing for a personal trainer just starting out…
Invest in unique equipment
The fitness industry moves quickly. And if you don’t have the latest standout equipment, you risk falling behind competitors. But how you afford top-notch machinery is another story. With specialist lending, you can sign leasing agreements that divide the cost of a new machine over several years.
Johnson Reed, for example, have a great relationship with InBody, a supplier of medical-grade body sensors. We’ve helped them offer flexible payment terms which fit the needs of their clients, whether they’re a large multi-site gym operator or new personal training studio.
These machines can quickly pay for themselves once they are in the hands of a great personal trainer. As you cover a three or five-year lease, the cost is never too much, whilst you retain a key asset for a competitive service.
Cover gaps in your cash flow
Common sense lending must be receptive to the realities of your job. For PTs, this includes the fact that some clients are going to cancel – perhaps one or two hours a week.
Such cancellations can eat into your profit margin and disrupt other, organic investments. An alternative finance loan can plug the missing cash until business becomes more reliable. Similarly, it can soften the blow of a few outstanding invoices.
Market your business with extra impetus
Marketing is one of the core challenges that await any young brand. From your website to printed material, there’s lots of paths to explore. Again, alternative lenders recognise the expense of growing your profile. They are willing to assist you in doing more now to harbour a successful future.
Consider a loan for promotional strategies. Hiring a good web developer may cost thousands of pounds, but the results are worth it. You could also use the additional funding for local SEO and ads on approved fitness resources, or branded vehicle graphics to spread your name around the area.
At Johnson Reed, we’re happy to discuss any ideas you have, whatever stage your business is at. With dozens of specialist fitness lenders on hand, we are the adviser and facilitator you’ve been waiting for. Learn what’s possible when you speak to us.