If you buy a Fitness Center and the current gym owner valued the used fitness equipment at $125,000. And you find out later the fair market value was actually $68,000, you lose $57,000.
When you are refinancing your Health Club business at the bank they want to use your current gym equipment as collateral. If the bank says your gym equipment is worth $125,000 and it’s really worth $250,000 then you wont get as much of a loan as you need.
When buying Health Club Insurance you need to know the current value of what you own to purchase the correct amount of insurance coverage.
When you are buying brand new gym equipment an your sales rep tells you your trade-in equipment is only worth $20,000. And an accurate gym appraisal confirms it is really worth $60,000. What is that worth to you?
Gym Appraiser will complete an accurate current market value appraisal to make sure your gym business does not lose money.
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