How to Get Quick Funding for a Gym Business With RevenueNow
For most gym owners and operators, running a gym is often a passion for fitness come to life. The ability to guide people toward the best versions of themselves through exercise, nutrition, and healthy habits while also building a profitable business is a win-win!
However like any other business, fitness clubs and gyms have financial matters to consider and tough decisions to make. If you’re a gym/club owner, you definitely know the drill.
You’re also probably hyper-aware of your daily financial operations and how they impact your plans for growth and success. And let’s admit it, sometimes the reality of cash-on-hand does not match your immediate needs, goals, or desires.
What is RevenueNow?
RevenueNow is a service specifically built for ABC Ignite customers to provide quick, accessible funding to fuel their growth and meet cash flow needs.
Often in less than 72 hours, and with very minimal paperwork, direct funds are provided to your club to use as needed, with an automatic and seamless plan to fulfill your RevenueNow obligations worked into the ABC Ignite club billing system.
That means your business can immediately get cash for whatever you may need. All of this with the convenience of a payment plan we’ve built together through the existing financial platform and reporting you’re already using!
How does the process work?
First, you tell us how much money you need. We then look at your monthly member dues receivables to determine available funding. We’ll provide any possible options, and once you’ve determined which works best – you’ll have the money in your account in less than 3 days.
Here’s a quick break down of the whole process:
The advantages of using RevenueNow
If you’ve reached this point, you’ve probably already asked yourself: Ok, what’s the difference between RevenueNow and a classic bank loan?
Let us tell you right off the bat: RevenueNow isn’t a loan, it’s an account purchase system. So that means it often comes faster and with less hassle than any bank credit!
On top of that, here are the three main benefits you’ll get using RevenueNow:
- Convenience. The process is based on your monthly receivables, uses the tools and systems you’re already familiar with, and requires minimal paperwork.
- Speed. You get the money within 24-72 hours upon execution of the agreement.
- Flexibility. Funds are distributed to you automatically and your RevenueNow obligations are satisfied automatically with a seamless integration into the ABC Ignite billing system according to a plan we decide together.
How can you use the funding for a gym business?
This is the exciting part?the sky is the limit! We asked some of our customers how they have used RevenueNow funds in the past and we were surprised by all the ways their clubs have been able to take advantage of the service:
- Purchasing gym equipment and updating facilities. Incorporating fitness trends and upgrading to the latest technology and equipment is a key differentiator and main driver for business growth among clubs, so this made perfect sense to us.
- Investing in their future success. Some clubs made use of the immediate cash to move quickly to acquire a competitor location or open net-new facilities of their own. With others spending the money in marketing, promotion, or sales activations to grow membership for maximum return on investment.
- Creating memorable integrated experiences for members. To bring a total fitness experience to their members, many used the funding to build unique offerings such as saunas, spas, tanning beds, or massage centers, to help their club more fully become a pillar of their members’ lives.
- Maintaining the normal needs of their business. Some of the less glamorous, but just as important, usages of RevenueNow included parking lots, exterior lighting, and other maintenance. Despite the mundane nature, these types of improvements can make all the difference when it comes to your members’ experience and strengthening the trust in your club as a safe, clean, and reliable place to pursue their fitness goals.
And that’s just some of the use cases! The decision on how to use RevenueNow funds is up to you and the needs of your business.
What do ABC Ignite customers say about RevenueNow?
One of the fitness center owners we work with said that RevenueNow was: “The easiest process and fast funding! It helped us with cash flow and paying off bills.”
Another client, owner of a franchise location, said: “The best service that I have ever been involved in to help grow my business! I was very impressed with the professionalism and quick turnaround.”
We’d love to add your feedback to our growing, glowing reviews.
So if funding for a gym business is something you’ve been looking for, we’re here and ready to help. This service was created to support our customers and provide the resources needed to fuel growth. Connect with us to take advantage of the opportunity to make some (or all) of your (business) dreams come true!
The RevenueNow program is based on account purchase transactions, also known merchant cash advances and is not a loan program. This is not an offer to provide financing, which can only be done through the formal application process. Terms and conditions apply and this program may not be available in all jurisdictions.
Serving more than 24,000 clubs and studios in 94 countries with 34.9 million active members, we know the business of fitness and what it takes to be successful.
That’s why our RevenueNow service has been so popular among our customers. We?d love the opportunity to get to know your unique club and show you how RevenueNow can help you meet your goals and accelerate growth.