Restaurant Equipment Leasing
Cover all your business bases with restaurant equipment leasingTo rent or own, that is the question. Purchasing equipment for a new restaurant represents the majority of start-up capital. Stoves, POS systems, refrigeration and furniture don't come cheap. Many new restaurant owners opt to lease equipment, rather than buy it outright. Restaurant equipment leasing has many benefits, including extended warranties and upgrades. Another bonus of leasing restaurant equipment is that you can have a top-of-the-line model installed for a fraction of the retail price.
When you decide to lease restaurant equipment you will sign a contract for a certain period of time (usually monthly or yearly) and will pay a set amount for that piece of equipment each month. You can lease almost any piece of restaurant equipment available, however, certain pieces of restaurant equipment are better suited for leasing than others. Leasing restaurant equipment that typically has a short life span is the most economical choice for a new restaurant. Ideal restaurant equipment for lease include:
1. Ice makers
2. Coffee makers
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Decide if restaurant equipment for lease is really the better dealA restaurant equipment lease may cost you more money in the long run. Restaurant equipment leasing rates increase over time, so you may end up paying far more than if you bought the piece of equipment outright. Do the math and figure in yearly increases. Commercial restaurant equipment with long life spans, such as ovens and fryers may cost you less over time buying them outright.
Use in-house restaurant equipment financing to save moneyMany companies who lease restaurant equipment also offer in-house financing. This is ideal for restaurants just opening or existing restaurants who need to upgrade certain equipment. Leases vary from long-term capital leases to short-term operating leases. A capital lease is equivalent to a rent-to-own option, while a short-term lease is ideal for renting equipment you only need for a few days or weeks, such as catering equipment.
- Restaurant equipment financing is subject to credit checks. So if your credit is not up to par, then leasing restaurant equipment may not be an option.
- You can save money by purchasing used commercial kitchen equipment. However, unlike restaurant equipment for lease, these items have no warranties or guarantee that they will work for any length of time.
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