Is financing provided?
If your club is already up-and-running, it’s doubtful you’ll need any financial assistance because our fees are very affordable and are among, if not, the LOWEST in the industry. But for those that do or those starting from scratch, we have access to a vast source of venture capital.
Through our third party financing you’ll receive extremely competitive rates or you can simply use your own source. The same holds true for equipment leasing. Either we can hook you up with the most reputable leasing companies or you can find them on your own.
Either way, you’re ensured that on paper, as a dealer, you own your establishment, and NOT us. Thus, you can rest comfortably knowing that you’re in complete control of all managerial and financial functions, including revenue, both membership and profit center.
There are two reasons why we don’t provide, nor do we endorse direct financing. This is where corporate is either the source or acts as the source of your loan.
The first reason is because this method forces the dealer to relinquish ownership and financial control. Corporate, to ensure loan repayment, strips revenue collection from the dealer, taking control of it by forcing membership revenue to bypass the dealer and be directly funneled into corporate’s bank account. So in essence, until the loan is repaid, corporate owns your facility, with all of the benefits of your hard work going to them.
The second reason is that when corporate directly provides the financing, you become locked into their system for an incredibly long period of time. Thus, if the term of the loan is 20 years, that’s how long you’re locked in for. An escape clause might not even be enough to get you out. If for any reason should you decide you want to part ways, your only hope could ride on their good graces of granting you an unconditional release from your contract. If you’re lucky enough to get that, you won’t be so lucky, when in consideration for it, they force you to sell your interest for pennies on the dollar. Thus, you’ll LOSE and LOSE BIG, when all of your hard work and equity goes right back into their pocket!