Fitness Equipment Hire is making waves in the Commercial Fitness and Leisure industry, logging strong performance since its founding in 2012.
Owner Debra Cooper has 15 years of experience the industry, which she brings with her to create a strong young business that supplies fitness equipment to sports teams and fitness centres throughout the UK and Ireland. She and her team hope to expand the company's desirability by adding customisation of equipment to their portfolio of services. With this loan, they plan to purchase and customise equipment to supply an existing client's 50-plus locations on hire
"We found there was definitely a gap in the market, particularly in budget facilities to allow them to have good equipment, with a manageable monthly outgoing," says Esther Hughes, finance manager for the company. "Customisation is an added extra that really does create a polished look to a commercial facility."
Minimizing Risk
Fitness Equipment Hire has taken measures to reduce risk to lenders in this venture. Although the 50 sites are under one brand, they are essentially franchised sites, creating negligible risk of an overall failure of the venture, Hughes explains. And, the director of each site will sign a guarantee over the debt. In addition, there are 25 clients unconnected to that brand participating in the hire program, which began in April.
"Aside from the hire section of the business, our commercial sales division is still going strong and as you can see from our previous accounts and managements the net profit is strong," she added. "I do not anticipate any reduction to commercial sales."
Long-term goals
The plan provides some long-term security for the company, as it will create a steady source of income for the business because the equipment will be hired out to the gyms.
"At the end of the term of rental, the cycles go back out on rent and have an income attached to them with no connected outgoing. To have set flow of income for several years into the future is something that is very rare."
It's a sensible plan for a company with a strong track record in the fitness and leisure industry and solid financial records.
Owner Debra Cooper has 15 years of experience the industry, which she brings with her to create a strong young business that supplies fitness equipment to sports teams and fitness centres throughout the UK and Ireland. She and her team hope to expand the company's desirability by adding customisation of equipment to their portfolio of services. With this loan, they plan to purchase and customise equipment to supply an existing client's 50-plus locations on hire
"We found there was definitely a gap in the market, particularly in budget facilities to allow them to have good equipment, with a manageable monthly outgoing," says Esther Hughes, finance manager for the company. "Customisation is an added extra that really does create a polished look to a commercial facility."
Minimizing Risk
Fitness Equipment Hire has taken measures to reduce risk to lenders in this venture. Although the 50 sites are under one brand, they are essentially franchised sites, creating negligible risk of an overall failure of the venture, Hughes explains. And, the director of each site will sign a guarantee over the debt. In addition, there are 25 clients unconnected to that brand participating in the hire program, which began in April.
"Aside from the hire section of the business, our commercial sales division is still going strong and as you can see from our previous accounts and managements the net profit is strong," she added. "I do not anticipate any reduction to commercial sales."
Long-term goals
The plan provides some long-term security for the company, as it will create a steady source of income for the business because the equipment will be hired out to the gyms.
"At the end of the term of rental, the cycles go back out on rent and have an income attached to them with no connected outgoing. To have set flow of income for several years into the future is something that is very rare."
It's a sensible plan for a company with a strong track record in the fitness and leisure industry and solid financial records.
