Adam Sturm, a co-founder and the CEO of CrossFit Outbreak in New York, shares his experience of partnering with Rigquipment Finance to accelerate the growth of his business.
AS: It starts with the people, and the team at Rigquipment Finance is wonderful to work with. They have a great understanding of the business-side of the Affiliate model. They provided valuable guidance and support in building financial projections as we started, and grew, our business. From a financing perspective, Rigquipment provided a variety options and allowed us to select terms best suited to our strategy – not to mention, the tax advantages provided by the equipment lease saved us a ton of money at the year’s end.
AS: In opening CrossFit Outbreak Clinton Hill, our first location, we had planned on having enough cash on hand to open a second location within a year. But by working with Rigquipment to finance the cost of our equipment, we have been able grow faster than even we had expected – opening four Boxes in only three years. A big driver of our growth has been the ability to free up cash that would otherwise have gone toward equipment purchases. By avoiding the large expenses up-front, we had more room in our budget for marketing and investing in systems to accelerate our growth.
AS: Apart from opening with a fully-equipped facility, we’ve been able to invest heavily in the member experience. This goes beyond the aesthetics and equipment offering that helps get people initially in the door, as we have been able to devote more resources to keeping them around, such as hiring and developing our coaching staff.
AS: How responsive and caring they are. I think it’s rare to think of a finance company as being caring, but they actually do. We’ve been working with the same people for over three years now – just paid off our first equipment lease. Not only have they helped us open all four CrossFit Outbreak locations, but we have developed a great, long-term relationship with the team at Rigquipment.
AS: There’s not a reason to not use them. If you are seeking financing, you want to work with a company that actually understands your business – just like you would any other service provider. Plus, the application process is easy and they offer competitive rates and flexible terms.
For more information, visit rigquipment.com.