Schools Can Now Lease Their Gym Equipment Easier

Schools Can Now Fund Their Training Areas Quicker

Schools in the UK now have the opportunity to finance their training spaces and other essential equipment through leasing options. This development comes as part of new accounting rules - from April 2024, ( see below documents from DfE) that allow local authority-funded schools to acquire equipment via lease finance without the need for consent from the Department for Education (DfE). Schools can lease a wide range of equipment, including IT equipment, telephony, catering and cleaning equipment, furniture, gym equipment, and even temporary classrooms. These leasing options offer fixed-term leases for stability and flexible repayment terms, empowering schools to focus on providing quality education.

Additionally, academies and sixth form colleges in England can access a multi-million-pound fund to improve and expand their facilities. This fund, which totals over £400 million, can be used for transforming facilities, upgrading sports halls or science labs, and addressing wear and tear of school buildings. The fund aims to support schools with good governance and organized finances.

Moreover, leasing modular classrooms has become a practical solution for schools needing additional space. Schools can use approved operating leases to finance these modular buildings, spreading the cost over several years and including various associated expenses like groundwork and furniture within the funding. This approach allows schools to manage budget constraints effectively while expanding their capacity to accommodate more students

 

What are the benefits of leasing equipment for schools compared to purchasing it outright

Leasing equipment for schools offers several advantages over purchasing it outright, particularly in terms of financial flexibility, technological updates, and budget management. Here are the key benefits:

1. Financial Flexibility: Leasing allows schools to avoid large upfront costs, making it easier to manage cash flow and allocate funds to other essential needs. Payments are predictable and spread over time, which helps in maintaining a stable budget.
2. Access to Up-to-Date Technology: Leasing agreements often include options for regular upgrades, ensuring that schools can keep pace with technological advancements without incurring the high costs of purchasing new equipment. This is particularly beneficial for ICT equipment, which needs frequent updates to remain effective.
3. Reduced Total Cost of Ownership (TCO): By leasing, schools can potentially lower their TCO. This is because leasing spreads the costs over the useful life of the equipment and includes maintenance, reducing the financial burden associated with owning and maintaining outdated technology.
4. Maintenance and Support: Many leasing agreements include maintenance and support services, which can alleviate the burden of repair costs and ensure that equipment remains in good working condition. This can also include warranties and next-day support, providing peace of mindfor educational institutions.
5. Budget Predictability: Leasing provides a clear and predictable financial plan, as schools know exactly what their payments will be over the lease term. This predictability helps in planning and managing school finances more effectively.
6. Flexibility in Equipment Choice: Leasing offers the flexibility to choose from a wider range of equipment, including high-end models that might otherwise be unaffordable if purchased outright.

Overall, leasing can be a cost-effective and flexible solution for schools looking to equip themselves with the latest technology while managing their budgets efficiently. However, it is important for schools to carefully evaluate the terms of the lease to ensure it aligns with their financial and educational goals.

If your ready to get started and explore how this leasing will work for your school & need a fresh gym or needing inspiration, either book in with a consultation, form at the bottom of this page or read further with our FREE school gym design service.