Examining options for your new restaurant, how much does it cost to lease restaurant equipment?
If there’s any challenging business to start up and run, it’s a restaurant: there are many factors that go into making sure that every customer gets the best experience visiting your place of work as possible. From the appearance of your restaurant to advertising to the customer service and quality of your kitchen and workers, making sure that every detail is perfect is costly, but also very rewarding if done right.
Good restaurants do very well in building themselves a successful setup, following all of the tips of professionals and using a good research base and experienced chefs and marketing pros to get themselves in a position of success. However, many business owners find themselves in the constant situation of trying to be as fiscally intelligent as possible, and that’s where the controversy over leasing or purchasing equipment comes into play.
Business owners don’t want to pay a ridiculously high price just to get all of the equipment they need up front, and neither do they want to get a bank loan, but ownership is important to business owners.
Plus, many have heard bad stories about leasing and don’t exactly know answers to questions like how much does it cost to lease restaurant equipment? Is there interest? What are the advantages and disadvantages to leasing versus purchasing?
The Restaurant Cycle and why Good Equipment is a Necessity
A restaurant is all about appearance, service, and quality, making sure that customers enjoy being in your restaurant from the second they are greeted to the second they leave and are wished a good day. Advertising and getting the word out on your restaurant is a fantastic start to sparking curiosity and putting customers in your restaurant, but making sure that the overall experience lives up to the advertising is a necessity.
When they walk in, an upbeat greeting from a hostess and a warm, welcoming environment is a great start, letting people know you take service, quality, and cleanliness seriously. Keeping that friendly service up throughout the duration of the time is the waiters and waitresses, offering customers drinks, giving advice on meal selections, and more.
However, the behind the scenes work is done by the kitchen, from the bussers that cleaned the table the customers use to the dishwashers who cleaned their utensils. No matter how charming the servers are, they can’t keep the entire building clean and prepare excellent food in a timely manner along with their duties, which is why a good kitchen is essential.
Food service has to be both quick and efficient, and the kitchen is where good equipment is most necessary. When customers leave, bussers reset tables, completing the cycle of restaurant customers, and making sure this cycle moves as smoothly as possible is vital to a restaurant’s success.
Good equipment in the kitchen accomplishes this, from having the best dishwashing system possible to having enough good working ovens to get all the food prepared.
How much does it Cost to Lease Restaurant Equipment versus Buying Restaurant Equipment?
The trouble with purchasing is that every business owner forgets about the two major downsides of owning hardware that come back to haunt you over time: technological advance and malfunctioning. It’s a guarantee that, at some point, the piece of equipment you buy will either break to the point where repair is pointless or become outdated to the point where your business needs an upgrade to keep up with the competition.
Fact of the matter is, with the technological advances we experience nowadays, outdating equipment occurs regularly, and it’s becoming more fiscally wise to just buy new equipment versus repair, because repairs are still tricky and costly. Therefore, when you spend a giant chunk of your spending money on hardware that either breaks or becomes outdated within a few short years, buying suddenly becomes that much less feasible.
The trick determining how much does it cost to lease restaurant equipment is simply by knowing what leases are and finding a good one. A lease is a contract stating that you pay a flat, monthly rate in exchange for equipment being loaned to you.
Repairs and upgrades are normally covered in leases, giving you an edge versus purchasing equipment. In addition, you pay low monthly rates versus spending a percentage of your startup money on half the equipment. With leases, you can get all the hardware you need at a decent rate and still get good equipment for your company; the trick is exploring for the best lease.
Some leases are designed to be too costly over time or are just set up in a way that works better for other businesses, so knowing what you want out of a lease will eventually put the best possible leasing deal in your lap, bettering your company. To learn more about how much does it cost to lease restaurant equipment, click here.