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