(613) 518-1520 info@accessmoney.ca


Gym or Fitness Centers Loan Purposes

  1. Home
  2.  » 
  3. Industries
  4.  » 
  5. Gyms and Fitness Clubs
  6.  » Gym or Fitness Centers Loan Purposes

Gym or Fitness Centers Loan Purposes

Franchise Fees

Franchise fees are a common cost for many gyms and fitness clubs and may require huge capital spending. To successfully make the franchising step, gym owners can take loans to finance their franchise costs.

New Equipment

Gyms require expensive equipment from time to time and may necessitate that you take out business loans to financing the purchase of new equipment.

Legal Costs

Legal costs are a major cost in running a gym and can prove to be the largest cost. Some licenses and contracts are critical to the running of a gym or fitness center. The most important contract is that with members of the gym. Contracts are important since on-site injuries may lead to sudden and large expenses.

Staff Costs

Payroll is a recurring expense in any business and especially in gyms and fitness clubs. Business loans can help to finance payroll to ensure you do not fail to pay staff.


Rent is yet another major and regular expense for the gym which can be covered using a business loan. Rent will fall under the category of working capital which can be covered using working capital loans and lines of credit.

Liquid Assets

Gyms and fitness clubs are required to have liquid assets captured in their franchising agreements. The liquid assets are worth hundreds of thousands of dollars and may require a business loan to financing their acquisition.

New Location

Gyms may also require loans to finance expansion costs and increase profitability. The loans can be used to pay for a new location or extending an existing building.

Working Capital

The day to day operations of a gym can rise and add up significantly. Business loans such as revolving lines of credit can be used to finance the operations especially when the gyms or fitness club’s cash conversion cycle is poor.

Advertising and Marketing

Marketing expenses, when used appropriately, can lead to huge returns on a small investment. There are gym and fitness club loans that can be used for advertising and marketing budgets.