It is difficult to acquire all of the required equipment to keep your kitchen running smoothly. The costs associated with this type of equipment are usually quite high, and the amount of equipment needed can overwhelm anyone. However, there are a number of restaurant equipment financing options that can allow you to supply your kitchen without going broke in the process.
Financing options for your restaurant equipment can allow you to own your restaurant's equipment without the financial hardships associated with such a large cash purchase. Instead of requiring cash on delivery, equipment financing options allow you to make a low monthly payment. The monthly payment is a manageable, consistent expense that is easily incorporated into your operating budget. Best of all, when the payment schedule ends you get to keep the equipment.
With proper maintenance, this equipment can add value to your kitchen by providing the utility it always has without the monthly payment. If the equipment is not the type of equipment that will become obsolete, or if it is equipment that is easily maintained, ownership through financing options is an intelligent choice.
The equipment needed to run an efficient and effective kitchen is variable. Depending on the type of kitchen you operate and your volume of food preparation, a great deal of specific equipment is necessary. All kitchens will need refrigeration and ice machines for food storage and beverage service. Kitchens that support a bar will need much more of this type of equipment, along with specialty beverage preparation equipment as well.
If your kitchen supplies a buffet environment, a great deal of warming and holding pans is required. Every kitchen will need ranges and microwaves, but the number of them required can vary depending on the purpose of the kitchen. High volume kitchens will need multiple accessories and storage options to allow for preparation of specific and complicated menu items.
All of these items have an associated cost. Often, that cost is substantial. Fortunately, there are financing options available that can keep your initial and monthly costs low while you develop your kitchen.
In certain situations, a lease could be a great option for you. With a lease, monthly payments are kept low just as with purchase financing options. However, a lease gives you a lot of flexibility. For example, a lease can be structured so that a final payment of one dollar allows you to purchase the equipment. If the equipment becomes outdated by the end of the lease, or if you would prefer new equipment, the purchase option does not need to be exercised.
The application process for restaurant equipment leasing is free, and while there is a credit pull with the application, it will not impact your credit rating in any way. Expert advice is available to you, and the process can be completed in two minutes.
To see if you qualify for restaurant equipment financing and leasing, click here for a free quote.
© 2023 TimePayment Corporation. all rights reserved