About Paul Bosley
Paul Bosley has worked in the fitness industry for 42 years. For 30 years, Paul was an owner operator of fitness center chains including Holiday Health, Gold's Gyms and Q The Sports Clubs. Paul launched Healthclubexperts.com twelve years ago, and it specializes in providing financing to new and existing business owners. Paul is working on his Master's Degree in Accountancy with a concentration in Business Valuation at Florida Atlantic University. Paul has also served as a volunteer SCORE Counselor, a Division of the Small Business Administration, designed to counsel new business owners nationwide.
Showing 1 - 6 of 6 Articles
A Perfect Financing Combination
May 2016 - 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. It is very unusual when two financing products are complementary and can be selected to finance the same project. With the introduction of the SBA Express Loan, this is no longer the case when renovating or expanding an existing fitness center or when launching a new fitness center. An SBA Express Loan works very well with an equipment lease for financing a new project or an expansion. Read Article...
October 2016 - A lease is an agreement that the lessee, or business owner(s), agree to pay the lessor, the leasing company or manufacturer, to have use of the equipment for a specified period of time. A lease payment is recorded on the center's books as a rental payment similar to a rent payment on a building lease. Leasing enables center owners to preserve their working capital as an alternative to purchasing the equipment since a typical lease requires a relatively small upfront deposit. Centers profit from a lease transaction if the center generates revenue in excess of the monthly lease payment, thus generating positive cash flow from the use of the equipment. Lease repayment terms range from 12 to 60 months. Consequently, items that do not have a useful life of at least 12 months, such as inventory, should never be included in a lease agreement. Read Article...
Fitness Financing Available in Today's Market
December 2017 - Today's fitness centers come in all sizes with a wide variety of fitness equipment. Consequently, the appropriate financing for the diverse fitness centers varies considerably based upon the dollar amount of capital required. This article offers an overview of the best financing available based upon the amount of money required to properly capitalize any given fitness center. Read Article...
The Best Uses of the SBA Loan Types
February 2016 - 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 of the SBA loan that the SBA does not guarantee. The SBA assumes between 75% up to 90% of the SBA loan obligation, which varies depending upon the SBA loan type. Read Article...
The Most Versatile Commercial Loan Product
January 2017 - Do you own a fitness center and want to expand your business or open a new location? Do you want to refinance your existing debt to lower your monthly overhead? Are you tired of paying rent to a landlord and would rather own the real estate you operate your business? Do you want to open your first fitness center or personal training studio, but you need financing to do it? Read Article...