It’s rare for an entire industry to experience what can rightfully be referred to as a “transformation.” Well, the business financing industry is one of the few exceptions to this rule. More and more sources of small business loans are appearing and growing every day. Virtually every member of the new wave of business lenders […]
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The general requirements for an SBA Loan from a bank are relatively universal. Virtually every business owner knows you need to have a perfect credit score, high revenue, strong profitability, at least two years in business, and the ability to provide collateral. These requirements are basically common sense to anyone who has done just a […]
A major hardship of running a gym or fitness center is transparency. Most of your struggles are front and center for all members to see. No, your members don’t have access to your bank account. But they can certainly tell when you don’t have the money to fix a recurring problem or maintain relevancy in […]
The fitness industry has definitely become more competitive over the past few years, and it’s not because more people have suddenly realized that exercise is good for you. Traditional gyms are stepping up their games due to the rise of boutique fitness studios, which offer a different experience than the former option.
The fitness industry is undoubtedly seasonal, but unlike most seasonal businesses, gyms and fitness centers experience not one but two busy seasons. There is a surge in memberships before the summer as well as in the middle of winter. The latter trend is due to New Year’s Resolutions, which produce a mob of new gym-goers, or “resolutioners,” every January without fail.
The popularity of gyms, health clubs, yoga studios, pilates and groups like CrossFit continues to grow. Americans are living healthier lifestyles. They want to stay in shape. Small business loans for gyms can help your fitness center keep up with growing demand. These four secrets will help you choose your business loans wisely.