What is the fee associated with Guidant Financial securing equipment leasing for a Basecamp Fitness franchisee?
Basecamp_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
utilization among other factors. Minimum credit score of 680 is required. The fee for this service varies depending on the loan used.
Guidant can also secure equipment leasing for you. New locations require 10% down. Interest rates vary from 6.99 to 13.90% depending on credit score and other factors. Lease term up to 60 months. New business requires a credit score of 700 or higher while exis
Source: Item 10 — FINANCING (FDD pages 33–35)
What This Means (2025 FDD)
According to Basecamp Fitness's 2025 Franchise Disclosure Document, Guidant Financial can assist prospective franchisees in securing equipment leasing. The fee for this service ranges from $250 to $500. This fee is in addition to the requirement that new Basecamp Fitness locations must provide a 10% down payment.
The interest rates on these leases can vary significantly, ranging from 6.99% to 13.90%, depending on factors such as the franchisee's credit score. The lease term can extend up to 60 months, providing some flexibility in repayment. To qualify for equipment leasing for a new business, a credit score of 700 or higher is required, while existing businesses need a credit score of 650 or higher.
It is important for potential Basecamp Fitness franchisees to carefully consider these costs and requirements when planning their initial investment. The variability in interest rates and the specific fee charged by Guidant Financial could significantly impact the overall cost of leasing equipment. Franchisees should also be aware of the credit score requirements and ensure they meet the necessary criteria to secure the lease.