The Dollar improves against the Euro, but competition and surplus supply has led to a fitness industry “perfect storm,” that is if you’re a European in the market for commercial grade used gym equipment.
(IJRnews 9/19/2011) 2004-2006 were booming years in the U.S. and for most of the world. During that time, fitness gyms popped up all around the U.S. Then as quick as a sunrise on a November night in Thule, Greenland, the real estate industry basically bombed. However, the fallout in this instance, is music to the ears when your country’s dollar exceeds the country in which something you want is in robust supply and not as much demand.
Because the U.S. economy is turning around, the supply and demand, for used gym equipment might have a shorter window then one thought. This is greatly do to Europe’s recent thirst for commercial grade gym equipment.
International Journalism Review (IJR) www.IJRnews.com asked a remanufactured and used gym equipment expert, Max Laney, from Fitness Equipment King, why do Europeans have such a demand for our products? “The demand doesn’t surprise me, they are smart. Americans too often want new, new cars, new houses, etc. Depending on who you order refurbished gym equipment through, you’re getting basically new without the price tag, in fact sometimes 80% less then retail. Take that coupled with a stronger Euro and why wouldn’t they order from us.”
Laney cautions people and gym owners against ordering gym equipment that is used, remanufactured, or refurbished from a dealer based on how pretty their website is or without doing proper research. The Fitness King owner has been in business for over 10 years and still picks up his telephone for every customer. He told us that he only picks up equipment that is in excellent shape with low hours and that he doesn’t sacrifice that rule for the bigger dollar and profit. Many of the “Used Gym Equipment” outlets don’t see it that way and is why they are getting gym equipment much less expensive. An example explained to us is a piece of equipment that has been sitting in a health club for ten years and is on its last leg. The health club needs new equipment and they must sell to these outlets that are willing to buy such battered stuff and attempt refurbish. It’s a win for the health club because they already depreciated it and get extra money and these outlets make huge profits.
Laney said, “That kind of equipment costs much less then the pre owned gym equipment in which I buy and refinish. I hand select, test, and verify the stuff I choose to makeover. I know it would make business sense to get the cheaper stuff, but I couldn’t put the Fitness Equipment King name on it and be confident it would be a good piece of equipment for more than a few months. Most of my customers are repeat customers because I value my company and work. I personally invite all the Europeans to call me.”
IJR found several hundred internet results of places to get and order pre-owned gym equipment, we researched blogs and forums to get a feel of the competition and demand. eBay seemed to be a frequent avenue for the individual consumers on many fronts and craigslist to some extent. Most of the dealers that have been around for more than ten years are far and few between so IJR would recommend researching the dealer before commitment. This has become an industry much like the automobile industry in that when something is made so well you can count on that investment to hold its value if properly maintained, especially if you back it by a warranty. WCS Fitness and Fitness Equipment King were two of the very few companies that will actually give a warranty to clients on the equipment they sell and price guarantee as well.
Kelly Holt, Fitness Trainer & Journalist
Muscle and Fitness advisor / In Shape Magazine columnist
International Journalism Review / http://www.InternationalJournalismReview.com
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