Equipment for your restaurant can be purchased with old-fashioned cash or a loan from your financial institution. However, nowadays the latter option is not so easy because of the changing economic times. An option that has seen widespread appeal over the past few years is renting restaurant equipment.
Restaurant equipment leasing is the process whereby you can secure the use of any type of equipment in your establishment including refrigerators, ovens, cooking ranges, steamers, fryers, grills, food processors and more. All these items are necessary for your restaurant but they cost a lot of money. When opening a new restaurant, leasing can provide you with the financial means to get what you need. The other benefit you get from leasing is that it relieves the cash flow in your business. If you are an established business, you can use leasing to refurbish or replace your old equipment.
When you enter into a leasing contract to use equipment from a supplier for a given period, you will enjoy the benefits without injecting a lot of cash. The contract usually avails the equipment to you after you pay a down payment on the agreed amount. The balance is paid in form of monthly premiums.
Companies that offer equipment leasing services usually acquire the latest equipment on the market to keep up with technology and make them available to their customers. These items of equipment cost a fortune and as a start-up business, you may not afford to pay for them directly from your pocket. Using the latest equipment by reputable brands is an effective way to enhance the performance of your restaurant.
Many leasing companies stock equipment that is ideal for restaurants. For instance if you specialize in offering catering services, then you will get all the equipment that are specific for your business from one supplier.
One of the major advantages of renting restaurant equipment is that you do not have to worry about obsolescence. Since leasing companies acquire equipment the moment they come into the market, you have an opportunity to pick the latest equipment at no additional cost.
Over the past few years, equipment finance has greatly changed in the US. The main change as you may be aware is the lack of finance from major financial institutions! This situation has made many owners to resort to other options to get the cash they need in the restaurant. However, some of the independent financiers only provide cash advances to established restaurant owners. This is not the case with leasing, although you have to find the equipment lease that is right for you.
To get the best dealer to work with, you can consult your dealer for recommendation or go to LeaseQ and get a free instant quote. At LeaseQ, the process is simple yet the results you get are comprehensive enough to help you make a good decision. The good thing is that you can go back as many times, as you like and when you are ready to apply for renting restaurant equipment leasing, the process takes less than two minutes. To see if you qualify for renting restaurant equipment leasing, click here for a free quote. click here for a free quote.