Fintech consumer lending bnpl

4 minute 18 Aug, 2022

How To Easily Offer Fitness Equipment Financing To Your Customers

Fitness equipment can be expensive, but with so many consumers getting used to doing more from the comfort of their homes, demand is still high. One of the major obstacles for these consumers is their ability to afford the upfront cost of home gym equipment, and merchants that do the best job of mitigating this obstacle set themselves apart from the competition.

How To Easily Offer Fitness Equipment Financing To Your Customers

The most effective way to do so is to offer fitness equipment financing. Flexible payment options give consumers the buying power they need to make larger purchases right away, spreading the bill into smaller payments they can make over time. While this seems like a no-brainer option, many business owners don’t know how to get involved.

So, we are going to go over the three simple steps to offer financing to customers, which are:

  1. Decide which financing options to offer.
  2. Find a quality software platform that offers them.
Reach out for a demo and deploy.

Decide Which Fitness Equipment Financing Options to Offer

Depending on the industry, different financing options can be more effective than others. So, it is vital that fitness equipment sellers identify the best financing options for the industry.

These are the fitness equipment financing options that all sellers should offer:

  • Buy now, pay later (BNPL) payment plans
  • Store credit cards
  • Consumer loans

We’ll explain each of them and in what circumstance they are most helpful.


BNPL payment programs are essentially loans, but without the credit impact or even the interest charges in many cases. This is because BNPL payment plans aren’t reported to credit bureaus unless payments aren’t made on time, so customers don’t have to worry about their credit score dropping when they receive funding.

The interest charges are more case-by-case. For BNPL plans with four-or-fewer payments, there is usually no interest at all. For longer plans or for buyers with lower credit, interest can be added to ensure that consumers can get the perfect program length for them. Even in these cases, the BNPL plan will still not be reported on their credit profile unless they fail to make timely payments.

These plans work best for customers making one-time purchases that they want to break up into a few payments. Since they have a predetermined funding amount and payment schedule, they are simple and predictable, making the process frictionless.

Store Credit Cards

Credit cards are a fitness equipment financing tool that will be more familiar to most consumers. Put simply, store credit cards are just like regular cards, except they offer rewards or discounted interest rates on purchases made at the store through which they are provided. Naturally, this encourages repeat business, as it wouldn’t be worth opening a credit card for a given store unless one plans to shop there pretty often.

Store cards work best for coaches, gym owners, or serious athletes looking to make frequent purchases with the same supplier. This is because they will benefit most from continuous rewards or discounted rates, and the credit line is always left open for future purchases.

Consumer Loans

Consumer loans are useful in the same ways as BNPL but are a bit less desirable due to their credit impact and interest rates. Nonetheless, any retailer that offers one should also offer the other, as consumer loans are a great backup plan for those who don’t apply for BNPL or ones that need a payment schedule that is too long for a BNPL plan.

Find a Quality Financing Software Platform

There are quite a few fintech providers out there, and many of them offer all three of the financing options discussed here. However, that doesn’t mean every platform is created equal. In fact, there are a few things that set apart premium platforms from their competition, which include:

  • Quick and versatile implementation.
  • Omnichannel integration so that financing is available through any app, website, or billing platform a business uses.
  • Customizable dashboards with in-depth analytics to help businesses keep track of their program’s success.
  • A network of lending partners with versatile product libraries and underwriting requirements, as opposed to a single funding source.

Luckily, Skeps offers all of these cutting-edge features, and more.

Implement Fitness Equipment Financing With Skeps

Skeps offers a comprehensive, end-to-end consumer financing program that helps businesses modernize their entire payment process. We go above and beyond one-click payment, also offering a one-click application process for several different types of consumer financing, including:

  • BNPL
  • Consumer loans and leases
  • Branded credit cards

If you’re looking to partner with a forward-thinking fintech company that will keep consumers' eyes on the purchase while offering best-in-class financing, Skeps is the perfect fit.

Do you have more questions about how to implement fitness equipment financing?

Request a demo or contact us at support@skeps.com!

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Fitness equipment can be expensive, but with so many consumers getting used to doing more from the ...


Skeps has a solution to improve your results—whether you are comfortably established or just beginning your point of sale lending journey. We are proud to provide a frictionless end-to-end financing experience through our next-gen point of sale financing platform. Give your business the Skeps advantage and reach out today.

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