Taking a risk in Personal Training

[Aleksandra fitness]

Hi,

I currently run my own personal training business. I have a few clients who I work with continuously, I also work freelance around London in fitness studios.

One of the studios I work with use EMS machines (electro muscle stimulation) I receive continuous great feedback on how I train the clients and I have worked with various types of machine. I figure why not start my own venture and buy a machine, train my current clients possibly make it a focus for my own business and bring the equipment to the client or even professional athlete.

Currently the studios I work with cover their over heads (+) they can afford to pay me and other PTs (+) it's a new form of training (+) but doesn't have many people aware of the training (-) the equipment is very expensive - £10-16k (-) and no production in the UK of equipment so repairs and additional needs expensive (-) the form of training so very popular in Germany (+) but has a lot of negativity in the US (-).

I have been looking for a forum (mainly in health & fitness to discuss with fellow PTs) from what I have briefly wrote above if the risk of buying one of these machines is worth it? I have my doubts, what if the technology advances before I have earned back what I put into the machine? That's the main thing going around in my head what if I lose my savings on thinking this is a good idea?

Any advice is appreciated, anyone with a good head for business who can sum up the risks of investment or can give ideas of what I could do if the machine doesn't make the income required etc

Thank you!

 

[Mr D]

The machines must be purchased? Or can they be leased perhaps with option later to upgrade as machines improve?

 

[Aleksandra fitness]

The machines must be purchased? Or can they be leased perhaps with option later to upgrade as machines improve?

Not from what I've found as of yet, they are built to order mainly in Hungary. They pop up on eBay and other sites but they're similar in price to buying from the production company.

The 2 studios I have worked with bought them outright so they're under warranty ect.....
They are a specialist piece of equipment. Both studios have older models they use which are being used to the max (lots of wear on the equipment ) I have savings I could use to buy the machine outright and don't want to get a loan and fiance isn't a option with the companies who produce the machine.

 

[Gordon - Commercial Finance]

Is there a distributor in the UK? Or any kind of rep.
Machines could indeed be financed or leased as @Mr D suggests above so that could be an option.

 

[Gordon - Commercial Finance]

fiance isn't a option with the companies who produce the machine.

I find that hard to believe - surely they just want paid for the machine?
They may not offer their own finance arrangements, but that doesn't mean the asset can't be financed. Almost all assets can be financed and you can approach a company selling something with your finance already in place.

 

[Mark T Jones]

I find that hard to believe - surely they just want paid for the machine?
They may not offer their own finance arrangements, but that doesn't mean the asset can't be financed. Almost all assets can be financed and you can approach a company selling something with your finance already in place.

This. You can even pay the supplier & arrange the finance afterwards. Speak to Gordon about it

 

[Aleksandra fitness]

I think this might have gone off what I was intending. I could buy outright the machine, it then would be custom built to my needs. If I do go to the companies in Hungary (I can name them but from reading the site rules links to products etc aren't permitted).
If finance were an option. I'm still putting down a lot of money I might not see back for a long time if at all.
I am worried that if I do go for it here in the UK it might be a venture that doesn't see a return.

I suppose what I was looking for is a logical "yes, I'd risk it..." or "No, not if there's any chance of not seeing a return on your investment " I'm nervous as I haven't been in the boat where if it works I earn, if not I lose my savings.

 

[Nico Albrecht]

To be honest you didn't provide us with any relevant information to give you any idea if it would be business viable. What can you charge per hour etc... Also if it would be any good big gym chains would have picked up on it and test trialed it in some locations

 

[Gordon - Commercial Finance]

Yes to answer the question you’re asking we need more information about how the machines generate revenue and what research you’ve done about the market etc.

We started talking about finance because it’s a reasonable way to risk less of your own money on it.

 

[Eugene Hill]

Hi,
if the risk of buying one of these machines is worth it? I have my doubts, what if the technology advances before I have earned back what I put into the machine? That's the main thing going around in my head what if I lose my savings?

Any advice is appreciated, anyone with a good head for business who can sum up the risks of investment or can give ideas of what I could do if the machine doesn't make the income required etc

Thank you!

Exactly! The technology is going to evolve each and every year! So you are right when you say that what if the technology advances!
My advice will be that you should only invest in things which will surely give good ROI (Return on Investment).

 

[website-designer]

Can you not lease the machine? Or rent in the short term to see it's viability?