The latest and greatest kitchen equipment isn’t cheap.
So, if you don’t have a bank account full of money you’re out of luck. Right?
As a business owner, there are many ways to get the equipment you need!
You want your business to have the best start possible.
Business owners want to free up their expenses and pay for everything in their restaurant. That is why looking into equipment leasing can be beneficial in many different cases. So, the question is, should you purchase your equipment or lease it?
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Option #1: Purchase Equipment
Lots of business owners like the idea of owning their equipment. But, most business owners have a budget they stick to. While, you may be able to purchase your equipment, can you afford to fix it when it breaks or replace it when it’s too old?
Keep that in mind before you run out and buy any type of equipment for your restaurant and consider these two important factors:
- net price
Buying equipment will not only have a price tag, but also a life expectancy, and this is important to remember.
You may be able to afford the equipment now, but can you afford to replace it if it breaks down within a couple years? There are ways to get around this, but, do you really want to be stuck in that situation?
I didn’t think so.
Option #2: Equipment Leasing
You probably didn’t know but, most businesses in the United States lease equipment. Many business owners find that it’s the best option for them and enjoy the many benefits that come with it.
Leasing expensive kitchen equipment is a great way for owners to get the equipment they need fast while conserving cash. With leasing, you pay a flat monthly rate to get kitchen equipment into your business.
There are two fundamental advantages to leasing your equipment:
- No repair costs
- Conserve cash
If your equipment breaks down, you don’t have to pay an additional fee to replace or repair the equipment.
The second advantage is saving cash. Instead of paying a huge chunk of your capital upfront or having to deal with paying it off later with an interest rate, you pay a monthly rate. This is much easier to handle and allows you to spend your cash on the rest of your business.
Leasing is a great way to put equipment in your business and is much easier to manage financially. Especially when it comes to more expensive kitchen equipment. To learn more about leasing kitchen cooking equipment for your restaurant, click here.