Restaurant Leasing Options
Today we continue looking at the benefits of leasing restaurant equipment by looking at some of the steps that are necessary when it comes to successful kitchen equipment leasing. Through careful planning and execution of that plan, then you may be able to save a significant amount of capital through a commercial kitchen equipment lease, funds that may be used for other, equally pressing projects.
The first step is to plan for the necessary pieces of equipment that you are going to need. Proper planning goes a long way towards keeping finances and budget under some semblance of control. You will also need to visit the local environmental health office and make sure you have the correct permits and other safety measures required by law.
Begin researching the equipment you need, its availability, and the pricing. In many cases, leasing kitchen equipment will be more cost friendly than purchasing outright. Outfits that have commercial kitchen equipment for lease should be asked pointed and direct questions when it comes to delivery of the equipment, whether or not they set it up, the service plan, as well as the ability within the lease to upgrade as newer models of particular pieces come on the market. Before you sign a contract to lease commercial kitchen equipment, make sure that it is the right arrangement and the most cost effective one.
If you have questions or find yourself in a situation that you are unfamiliar with, don’t hesitate to ask other restaurant owners and managers. They can be of invaluable service to you when it comes to setting up your business, as well as advising the best channels for restaurant equipment leasing, sales, and service.
Make sure the leasing company you work with is a reputable and experienced lender with restaurant experience and offers a variety of leasing options for you to consider. LeaseQ is one of the leaders in this industry, offering options geared for both small business startups as well as Fortune 500 conglomerates. Approval is easy and can be accomplished in less than two minutes online.
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Look for options to lease kitchen equipment that are beneficial in the long run. A true lease or operating lease has lower taxes and payments, but the leasing company will have ownership of the products throughout the term of the lease, and when the lease ends, you have no choice but to return the product, or purchase it for the market value, or have the lease extended.
Finance or capital lease programs provide you with ownership of the kitchen equipment leased once the term of the lease is up. You do however, have to pay a fixed percentage of the full amount of the restaurant equipment. Also, look for added features such as maintenance plans that may go along with what your business needs. Some of these perks can be quite valuable.