The cost of strength and cardio equipment could determine whether your gym makes a profit this year. Gym equipment is 20 to 45 percent more expensive than it was just two years ago. Increasing costs for steel, rubber, and certain electronics are driving the inflation, right along with the rising price of shipping and manufacturing. The basic commercial treadmills that used to cost between $4,000 and $6,000 are now pushing $7,000 to $9,000. However, with some careful planning, a little patience, and by incorporating a few of these strategies, your modest equipment budget can still be all you need for a profitable gym.

Assess and Optimize the Current Equipment

Poor maintenance is the number one reason you are not getting the most out of your current equipment. With a little preventive servicing and immediate repair, your gym equipment could last years longer. Many gyms skip the proactive maintenance because it can get a bit pricey, but it will cost much more to fully replace a piece with something new. Contact someone who does gym equipment repair for a living and work out a deal. By having them come every three months to service equipment, they should provide a decent discount since they know they are getting stable business in return. And, as always, keep all the warranties and repair bills, as it might save you serious money down the road.

Refurbished and Used Equipment

I have never bought a piece of commercial equipment brand new. Yet almost all of the equipment I have ever owned is in great shape, with some being able to pass as straight from the factory. Just now, a quick local search on Facebook Marketplace showed that a 10-piece Paramount strength circuit package (pictured above) is selling for $5,000. There are deals to be had! The old adage that one man’s trash is another man’s treasure certainly holds true when it comes to gym equipment. (However, beware. There are scammers out there as well.)

Used equipment can save you serious money, especially when discussing strength equipment. Cardio equipment, on the other hand, with electronic components, can often be hit or miss. I’ve had refurbished treadmills last more than ten years. But I have also had refurbished ellipticals last less than one year. 

There are gyms that lease their equipment every three years, and then that used equipment gets put up for sale at a huge discount price. It is all about who you know, what you know, and luck. (Sometimes there is no substitute for just being in the right place at the right time.)  

Having brand new equipment in your gym can certainly make it look nice, but old school equipment that functions well can make a statement, too.

Always Negotiate

Don’t accept the first number that is thrown at you when purchasing gym equipment. There is always wiggle room, even if it is something as simple as free shipping. If you can bundle a few purchases together, even better. Plus, many places have end-of-year inventory clearances that will save you a bundle. There are plenty of suppliers out there, so get quotes and make them earn your business.

Not Everything Has to Be Commercial Grade

Commercial treadmills and squat racks are made to withstand a beating. It is always a good idea to spend money on these pieces that will hold up well. But other equipment around the gym could be replaced with mid-tier or direct-to-consumer brands. For example, just an ordinary commercial flat bench can cost more than a grand. However, there are numerous non-commercial flat benches that are made to withstand serious weight and abuse, and can be had for a couple of hundred dollars. 

And does it really matter much whether you have commercial dumbbells or direct-to-consumer dumbbells that cost much less? A 50-pound commercial dumbbell is no different in weight than a store-bought 50-pound dumbbell, but there can be a huge difference in price. In addition, plate-loaded machines can cost much less than those that have a weight stack attached. These are all things to consider when figuring out ways to combat rising gym equipment costs.

Planning for the Future

Very rarely do things dramatically drop in price. Brand new gym equipment is not going to magically reverse the trend and offer large price cuts. When planning to fully equip your gym, the best option is to diversify. Blend in the new when needed with the refurbished and leased. Invest in continued maintenance with a professional who can catch things before they get too expensive. 

People are coming to the gym to see results. Create a community with the right atmosphere and exceptional coaching, and oftentimes the equipment becomes secondary. Audit the equipment you currently have and ask the members what else they would like to see. With the number of refurbished suppliers currently offering equipment on Marketplace, a perfect deal could be falling in your lap soon.

We would love to hear some of the sweet gym equipment deals you have come across online! I have had a few transactions where it literally felt like I was stealing from these suppliers simply because they had to create room for more inventory. Just a couple of weeks ago, I bought an in-demand breaker bench press with new upholstery for $500, and my clients haven’t stopped raving about it. If you would be interested in hearing more about gym equipment deals, let us know.

Gym Insight

We are a one-stop gym management software company that does it all. With our fully integrated system, you may improve sales, manage members, schedule classes, process payments, offer 24/7 access, and run your club. 

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