What equipment in a personal training studio is usually leased rather than owned?

Request a complete list of equipment, with a column showing how each item is held: owned outright, leased, financed or on loan from a supplier. Match it to the fixed assets in the books, and compare it with what you see on the floor. Items that appear on the floor but not in the books deserve a question. Ask whether any equipment belongs to a member, a trainer or a supplier who lent it, since that will not be part of the sale.

Then read the leases. Look at the remaining term, the payment, the end-of-lease terms, who handles repairs and whether the lessor must approve a new owner. Some leases transfer easily, and others need a new application or a buyout. Ask early so it does not delay closing. Check when each lease ends and what it costs to buy out, because a lease ending soon may mean a purchase or replacement decision for you.

Finally, ask about liens. A lender may hold a claim on financed equipment, which your lawyer can check through a search. Consider the studio’s dependence on each leased item: a studio built around one signature machine is a different matter from one with simple free weights. Your accountant can help you weigh the commitments. Walk the floor with the list in hand and tick off every item, so nothing important is left uncertain at closing.

Key takeaways

• Get a list showing whether each item is owned, leased or financed.
• Read every lease for term, repairs and transfer approval.
• Have your lawyer search for liens on financed equipment.