Regulation crowdfunding (Reg CF) was the final step in the implementation of the Jumpstart Our Businesses Startups Act (JOBS Act) that President Obama signed into law in 2012. Reg CF means that for the first time, anyone over 18 years of age can invest in private securities offered by startups seeking equity capital and/or loan
Do you own a fitness center and want to expand your business or open a new location? Do you want to refinance your existing debt to lower your monthly overhead? Are you tired of paying rent to a landlord and would rather own the real estate you operate your business? Do you want to open
Introduction – What is a Lease? A lease is an agreement that the lessee, or business owner(s), agree to pay the lessor, the leasing company or manufacturer, to have use of the equipment for a specified period of time. A lease payment is recorded on the center’s books as a rental payment similar to a
Introduction You have successfully launched your first Studio and it is profitable. What is your next step? Sit back and enjoy the fruits of your labor or build another studio? Whether it’s a barre, yoga, or cycle studio, most new studio owners pay the costs for their first studio from their personal resources. When it
You have successfully launched your first CrossFit Box and it is profitable. What is your next step? Sit back and enjoy the fruits of your labor or build another Box? Most new gym owners pay the costs for their first Box from their personal resources. When it comes time to launch another Box, that same game plan
When an entrepreneur is first considering a new project, various financing options are usually considered and the most appropriate financing product is chosen. For example, an equipment lease is often chosen for financing new fitness equipment. Another example is when an entire new club is financed using a bank loan or an SBA 7(a) loan.
Webinar recast on the different loan products available to secure business funding with Michael Scott Scudder.
Are you considering opening your 1st or 2nd CrossFit studio? If so, often the biggest fear is “How do I pay for this?” “Can I afford to purchase equipment and rent a space?” “How do I pay a staff and purchase CrossFit license to make this possible?” This short article describes 2 complementary financing products
Business owners have a time-sensitive incentive to secure long-term financing because interest rates are near an all-time low, and it is predicted that rates will slowly rise over time. The Small Business Administration (SBA), a division of the Federal Government, guarantees a percentage of all SBA loans to reduce the lender’s risk to the portion
Small Business Administration (SBA) loans have been a consistent source of financing for the fitness industry over the years, even during our country’s recent financial crisis. In fact, the fitness industry has received $44,267,700 in SBA loan financing since 2011, including 2015 year-to-date. The following is a breakdown of SBA loans made to the fitness