health club financing

Financing a Gym Purchase Few people who wish to buy a gym have the kind of cash it takes to pay 100 percent of the purchase price up front. Some sort of financing is almost always necessary. The traditional path to financing the purchase of a gym involves sitting down with a banker, filling out a loan application, and waiting to see if you qualify. Once the loan is approved - assuming everything is in order - you have the funds you need to proceed. Whether you are buying an existing gym, starting one from scratch, the path to gym ownership almost always runs through some sort of financial institution, whether commercial bank, credit union, or private equity firm. But there is another route available to you, if you happen to be buying a gym that is already up and running - having the existing gym owner provide some or all of the financing. What is Seller Financing? In its simplest terms, seller financing means that the current owner of a gym offers to carry some or all of t…