Paying for Pilates Equipment: What Are Your Options?

Running a high-quality Pilates studio is a careful balancing act to make sure you have the right equipment, staff, and support you need without your overhead running over into your profit margins. When buying equipment for your Pilates studio, consider the size of the space, the number of attendees per class, and your overall budget, which can be impacted based on the financing option you choose.

Pilates Equipment Financial Options

While a conservative financial strategy might be to wait until you can buy everything with cash, more aggressive strategies harness financing and loans. Walk through the different Pilates equipment financing options to see which aligns with your business plans best.

Cash

Buying equipment with cash is one of the best ways to ensure you don’t go into debt during your purchase. Since it’s paid in full, you don’t have to worry about paying back or collecting interest over time. However, this option limits you to only purchasing equipment when you have the funds necessary. You also have to worry about equipment costs creeping up due to economics and inflation.

Small Business Loan

A small business loan is designed to help businesses grow. With this finance option, you can buy your equipment immediately and don’t have to worry about high interest rates typically found with credit cards and other loans. Keep in mind that you’ll have to pay monthly fees to avoid affecting your business’s credit.

Credit Card

Credit cards are a convenient payment option. Not only can you buy what you want without waiting for approval, but many business cards have high credit limits and rewards for big purchases. You can get a business card with valuable rewards, make a big purchase, and apply the rewards to yourself or your business. 

However, credit cards are not a good long-term strategy. They have very high interest rates, and you'll quickly amass a lot of extra costs for late payments or even for minimum on-time payments.

Financing Offered by the Seller

Many equipment sellers may offer financing through their own business or third-party partners. The advantages and drawbacks of each financing option will vary based on the exact terms. Working through your supplier can also get you discounts (as they may get profits from both the equipment and the financing). However, a unique drawback is that financing may make the equipment 'rent to own'—and you might lose it if you pay late.

Financing Considerations When Buying Pilates Equipment

Financing is an excellent option for many Pilates businesses because you don't have to wait for a bank's approval, and a lot of sellers have low or no credit requirements. If you are considering this option, make sure you get the best possible arrangement by shopping around for these factors:

• Aim to work with sellers and financiers who offer discounts for bulk purchases and provide favorable terms for financed transactions.
• See when your favorite suppliers have seasonal discounts or big promotions so you can maximize your savings.
• Buy over a period of time—start with core equipment requirements and minimal numbers before buying more and more to support your growth trajectory. Long-term supplier partners may offer you better and better terms as you both come to trust each other.

Get the Pilates Equipment You Need With the Financing Options You Want

At BASI Systems, we provide access to high-quality Pilates equipment and great financing options so you can power your business's growth. Contact us today to talk about our products and financing.