How to get a new gym with no capital out-lay

Hiring and Purchasing fitness equipment with Hire Fitness

Hire Fitness has been installing school gyms across the country and in Ireland for almost 25 years and we pride ourselves on our professionalism and first class after care service. Our teams really care about and listen to your requirements and you can be confident that our service is unmatchable. We have a range of finance options to allow schools to quickly and easily acquire top quality, high end fitness equipment for staff and students to benefit from. Options include outright purchase, short or medium term monthly hires, finance leases or operating leases. We work closely with a number of finance partners to offer schools lease packages which typically run for between 3 and 5 years. The range of finance options open to schools are:

OPERATING LEASE – Department for Education approved: This type of lease is more like a long-term hire and is treated as an expense and not as an asset, resulting in no corresponding liability on your balance sheet. The equipment is never owned by your school. The usual term for an operating lease is 3 years but this can be extended in most cases up to 5 years, in a stepped profile.

FINANCE LEASE: This is a standard type of lease which is essentially a loan secured on the fitness equipment. The terms can vary from 1 to 5 years although the typical periods are often 3 or 5 years. At the end of this type of lease, you are offered the chance to buy the equipment for a nominal sum which generally just covers the cost of transferring the legal ownership to your school. This type of lease is not currently approved for state schools by the Department for Education, but changes are imminent and this lease should be allowed within the next 6 months.

SHORT/MEDIUM TERM HIRE – Department for Education approved: This option is ideal if you have experienced some equipment issues or failures and you’re awaiting funds to renew your equipment. This short to medium term hire option can help bridge the gap in this scenario to keep your existing gym operational for staff and students.

PURCHASING – Department for Education approved: This option simply involves a deposit of 30% on placement of order and the balance with 14 days of installation.

Aftersales

Whichever option suits you best, we will guide you through the entire process. We can factor in the cost of all future maintenance, servicing and regular safety inspections to ensure your facility runs smoothly. This means you’ll be able to budget in the knowledge that you have fixed costs over the term of the lease or purchase (the only exceptions being misuse or ‘wilful’ damage).

 

What are the benefits of Leasing and Hiring?

Because of the flexibility and the attractiveness of no upfront capital costs, most schools find leasing is an attractive option and is the most cost effective and suitable way of achieving a state of the art gym for staff and students. Leasing fitness equipment in the education sector, can often be the best solution for schools as it allows you to access high quality gym equipment with no large capital outlay. It’s a known fact that schools are usually not afforded the luxury of inflated budgets and so a lease plan is usually the most advantageous and sometimes, the only option available to schools. Repayments can be fixed throughout the term of the lease, so there are no financial surprises along the way. When leasing through Hire Fitness, there are options to include regular servicing and maintenance of the equipment to ensure optimum levels of operation and sustainability throughout the lifetime of the equipment. We can discuss these options with you to make sure you get exactly what you need.

How does it work?

We will guide you through the whole process from start to finish and we can advise on all important aspects such as health and safety and how to get the best out of your school gym. The process is simple – we discuss your requirements with you and advise accordingly. We design your gym based on the space you have available, using our sophisticated design software and we present you with a 3D concept video so you can visualise exactly what your gym will look like. We help you with the lease application if that’s your preferred method of finance and once that’s all approved, we deliver and install the equipment for you, as per the previously agreed designs. And perhaps most importantly, we’re here should you need us in the future.

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