The Restaurant Equipment Leasing Dilemma
When starting or upgrading your restaurant, badly needed equipment may be purchased outright through cash, credit, or bank loans, and if these options are not available to you, then many times you have the options of restaurant equipment leasing. Leasing kitchen equipment can be thought of much the same way you would lease a new car. When you lease commercial kitchen equipment, it is delivered to your location and you make monthly payments for the duration of the term. At the end you can return or purchase the equipment.
Of course there are pros and cons to leasing kitchen equipment, all of which should be taken into consideration. Some of the pros are:
Keeping Cash In The Bank: Most business startups do not have a lot of cash laying around, and leasing restaurant equipment is a great way to get what you need without burning capital.
Getting Through A Bad Economy: When times are tough, many restaurants prefer to lease kitchen equipment rather than buy, since it helps preserve cash for other projects.
Fixed Payments: For a restaurant leasing equipment, having those fixed payments are great when it comes to making out the monthly budget. It also minimizes incidental expenses.
Maintaining Seaonal Business Budgets: Some restaurants are not year round projects, and a kitchen equipment lease for a limited time may provide the equipment they need for the duration of their season.
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Ability To Obtain Expensive Equipment: Kitchen equipment leasing offers a way by which a restaurant can obtain new equipment regardless of how great their credit rating is.
The Solution For You
There are also a few drawbacks to consider. A commercial kitchen equipment lease may come with a minimum required amount, and that may be more than you want to commit to. And restaurant equipment for lease is usually confined to commonly used items as opposed to custom built units or smallware. The equipment can also not be used as collateral on future bank loans.
In the end, it is up to you, the business owner, to determine which leasing options are the best for you and your specific and unique situation. LeaseQ offers a number of restaurant equipment leasing options for restaurant owners looking to lease their equipment, and the approval process may be completed online in a matter of a few minutes. Visit their website at LeaseQ.com and see what leasing and financing options are available to you, that work within your budget, and will allow you to continue growing and expanding your restaurant business.