Ways to Save Money on FF&E

One mistake that many new sports facilities make when running their business is overpaying for FF&E (furniture, fixtures, and equipment). Many business owners believe that if they spend big on FF&E that they will be more likely to attract customers. That isn’t necessarily the case; while you do want quality equipment, the more you can save on the costs of FF&E, the better your bottom line and ability to re-invest in your business. Today, Sports Facility Management will discuss a few ways that you can save on FF&E to help your new sports business succeed.

Assess Your Needs

It certainly feels nice to have all the bells and whistles for your sports facility but try not to upgrade or buy the most expensive FF&E just for the sake of having it. Especially when it comes to workout and fitness equipment, the most expensive option is often not the best choice for your facility. While having dozens of squat racks may seem like a great idea, be more conservative with your purchases, at least at first. You can always reinvest once your business becomes financially stable.

Consider Leasing FF&E Instead of Buying

Many FF&E providers offer leasing options for sports facilities. If you really want to have the latest and greatest equipment, leasing allows you to stay current without needing to buy new equipment and scrap replacements.

You Do Not Have to Buy All at Once

Instead of buying every piece of FF&E that your facility could possibly want, purchase the necessities and keep an eye out for deals and discounts. Many sports facilities will look for other business liquidations and pick up quality FF&E at unbeatable prices. If you do need to make a large order, check with the supplier for bulk discounts. Oftentimes, ordering a lot of FF&E will open up some savings from the supplier.

Consider Tax Savings

Don’t overlook the tax savings you can receive for investing in your business. While your upfront costs will be higher, as long as you remain financially solid until tax season comes around you may find some major savings for your FF&E purchase through deductions and business tax credits. It may be worth investing in more equipment early to save money at tax time.

Contact Sports Facility Management Today

If you are looking for an expert team to help your sports facility get started, SFM is for you. We have helped hundreds of businesses become financially viable through our management assistance. Contact us today at 727-877-1791 to learn more.