How much can I borrow to buy a gym?

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Otto Dargan
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Re: How much can I borrow to buy a gym?

Post by Otto Dargan »

Hi surfer,

You probably already know that Anytime Fitness is one of the largest gym operators in Australia, with more than 2800 clubs nation-wide. Well, you may be able to qualify for Anytime Fitness finance.

Depending on the strength of your case, you may qualify for the following with some of our commercial lenders:
  • You can borrow up to 50% of total business costs or 100% with an existing residential property as security to buy a new or an existing gym.
  • The loan term is typically 10 years or the length of franchise agreement, however, with property as security, the loan term is 25 to 30 years (standard loan term).
  • Interest rate discounts are available.
Please note that low doc options aren't available and refinance of an existing site is accepted only on a case by case basis.

Partnerships can actually be a risk for not only you and your business but franchisors are generally wary of them as well. Please speak with a solicitor about putting a partnership agreement in place that sets out the rights, duties and obligations of each partner.

It may be that you provide the majority of the investment capital but don’t invest much in the way of daily operations. You can also ask yourself other questions such as "How will profits be shared? How will disputes over important business decisions be settled? What if one of the partners wants to leave the arrangement or unfortunately passes away?" etc.

We have mortgage brokers who are commercial property loan experts and can help you find the right lender for your situation and loan needs. You can speak with one of us by calling 1300 889 743 or by enquiring online.

Cheers,
Otto
Otto Dargan
Mortgage Broker
P | 1300 889 743
Home Loan Experts

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