Purchasing new restaurant supplies and machines is not always the best decision to make. Instead of looking for restaurants equipment for sale, search for leasing or financing programs for your business. You can learn about different dealers and manufacturers who offer services that can benefit your restaurant. It is important that you find ways to lower your monthly costs and better manage your finances. Cash purchases for new restaurant equipment can take up a large chunk off your starting capital. Find out why it is better to lease or finance your machines and supplies.
There are a lot of stores and warehouses that offer restaurant equipment. It is possible to purchase new or old machines that you can use for your restaurant. New equipment usually lasts longer and is sometimes on warranty. However, these are too expensive, not to mention they are still prone to wear and tear. Used equipment is unpredictable. These require more maintenance and can break down on you any time. This will force you to spring cash for costly repairs. Ownership may look attractive, but it does have a lot of disadvantages.
There are a lot of benefits that come with restaurant equipment leasing. Unlike purchasing equipment, you don't have to use a large chunk of your starting capital. Here are some of the benefits of leasing equipment:
1. Fixed monthly rates - a lease contract has fixed rates, so you won't have any unpredictable payments to worry about. This can help you lower your costs and better manage your cash flow.
2. Tax deductibles - leased equipment falls under the operational expese category. This means that you will receive higher deductibles on your income tax.
3. Regular servicing - dealers offer regular servicing. If a machine is not functioning as it should, your dealer can repair or replace the unit.
4. Upgrading - once a contract ends, you can upgrade to a newer piece of equipment. This can help you stay ahead.
5. More options - at the end of a lease contract, you have more options. You can renew the lease or even choose to buyout the equipment.
Purchasing equipment can set you back a couple of months. There are a lot of disadvantages to equipment ownership that you can avoid if you choose to lease or finance your machines. LeaseQ can help you know and understand your options so that you can decide on what is best for your business. Restaurant equipment financing through LeaseQ is a simple process that takes just a couple of minutes. You have the choice of taking out a loan or leasing the equipment you need. Once a lease contract has ended, you can choose to buyout the equipment after your final payment. There are options that include buyouts as low as $1.
Pre-qualifying for a lease is only a few clicks away. Your credit score will not be affected as only a soft credit pull is involved. To see if you qualify for restaurant equipment leasing, click here for a free quote.