Certain piece of restaurant machines and supplies are better off leased or financed than purchased outright. Global restaurant equipment leasing and financing can help you overcome budgetary limitations that your business might be facing. Before you look for the equipment you need, it is best that you review your options. Find out how you can better manage your cash flow through equipment leasing and financing through LeaseQ. Here, you will have access to a long list of dealers who are more than happy to provide you with the services you need to run a smooth business.
Buying new global restaurant equipment isn't always the best option. This takes out a large chunk off your capital which can be used for other financial obligations. Restaurant machine ownership also leaves you tied down with certain pieces of equipment. After about a year or two, you will be left with old, worn out equipment. You'll have to options: either get rid of it, or sell it. However, not a lot of restaurant owners are looking to purchase broken or very old piece of equipment. Purchasing new machines that are prone to obsolescence is not a good choice to make.
There are many reasons why global restaurant equipment leasing is better for you. Leased equipment is considered an operational expense. This means that you can benefit from higher deductibles on your income tax. Here are steps in entering the lease contract that is best suited for your business:
1. Get to know the restaurant industry by doing research on equipment and supplies
2. Find out what machines you need and the models or brands you want to acquire
3. Look for dealers in that niche who can supply you with this equipment
4. Ask for leasing quotes by contacting the dealers or suppliers
5. Read the fine print on the lease contracts and compare each dealer according to their monthly fees and interest rates
6. Choose the contract that can help keep your monthly costs low
When looking at global restaurant equipment financing, you have two options - you either lease the equipment you need or take out a loan in order to finance it. These options are a lot better than purchasing new equipment, used equipment and taking out a bank loan. Banks usually have high interest rates and often times require you to put up collateral for a loan. You will also need to shell out cash for a down payment which will set you back in terms of your budget.
Choose to lease or finance your equipment instead and learn about how you can keep money in the bank by doing so. LeaseQ can provide you all the information you need on dealers, suppliers and stores that have the equipment you need as well as how the financing or leasing process works. To pre-qualify for a lease, you just need to undergo the leasing process which takes a quick two minutes. To see if you qualify for global restaurant equipment leasing, click here for a free quote.