Gold’s Gym Equipment is one of a growing number of companies that will sell your gym equipment as part of your medical supply chain, instead of as a piece of junk.
That’s because they can get a much higher markup over their wholesale price for medical equipment.
“It’s a lot more of a competitive price than you would normally pay for it,” said Greg Henn, an associate professor of business at Boston University who studies the health care industry.
That competitive advantage is something Henn calls a “competitive advantage.”
It means companies have to sell equipment to people who have different needs, he said.
“If you have a business that has a lot of customers with different needs and different preferences and you can compete with them at a very competitive price point, that’s an important competitive advantage,” Henn said.
In 2016, the Centers for Disease Control and Prevention estimated that more than 6 million people in the U.S. were living with chronic illnesses.
The CDC says about 4.3 million of them have health conditions that can be treated with medical equipment, like arthritis or back pain.
Henn said companies like Gold’s have a competitive advantage in the way they make their medical equipment available to patients.
They get a lower markup, which means they can offer higher-quality products at a lower cost.
The industry is also seeing an uptick in sales because people want to purchase medical equipment in the form of gold.
The prices of gold are up by about $100,000 per ounce since 2015, according to the latest data from the Gold and Silver Association of America.
“People want the best, and they’re willing to pay a lot less for it, so that makes for a very attractive opportunity,” Henna said.
Gold’s Gym, the only Gold’s gym in the country, sells its medical equipment through an online marketplace called GOG.com, which is also home to several other Gold’s gyms.GOG offers a $1,500 price guarantee on any medical equipment you purchase.
Henn says his company is selling at about 50 percent of the price it normally charges for the same medical equipment online.
“The biggest thing for us is that we’re making the best medical equipment we can,” Henny said.
“And that’s the way we’re doing it.
That makes us the most competitive.”