Now that you’re opening a new restaurant, how do you navigate obtaining restaurant equipment? You have the choice of either leasing or buying kitchen equipment. Just know that there are disadvantages and advantages to both. As a restaurant owner, you have the responsibility of furnishing everything in your space. This includes the commercial kitchen, the dining room, as well as any other area such as the outdoor patio if your property includes it. If you’re debating between buying vs. leasing commercial kitchen equipment, then this guide is ideal for you.
Consider the costs of leasing vs. buying restaurant equipment.
When it comes to the price breakdown, a restaurant equipment lease is more affordable than buying equipment. Startup costs for a business tend to be costly. When you lease instead of buy from The Restaurant Warehouse, you can get the restaurant equipment that you need for a low monthly payment. That way, you can earn a steady cash flow upon opening your new restaurant. It’s a great way to earn revenue sooner rather than later. Leasing kitchen equipment frees up working capital because money isn’t tied up in the equipment itself. Financing allows for more flexible cash budgeting, and you can get exact amounts for lease terms. It’s fast, easy, and there aren’t any difficult requirements.
Think about the repairs and maintenance.
Oftentimes, when you purchase restaurant equipment, you only have a limited-time warranty. It’s already costly enough to purchase the equipment, and you also have to think about repairs. The total length of the warranty will depend on the piece of equipment. When you rent it instead, you get a warranty for the length of the lease. It isn’t yours, so you don’t have the responsibility of having to fix it. Repairs are often included.
Decide if upgrades are in your future.
If you expect to upgrade equipment at some point, then you may want to consider renting kitchen appliances instead of buying them. This is because you can get a newer model at the end of the lease. You don’t have to worry about selling the equipment. This goes for anything like dishwashers, commercial freezers, refrigerators, and more. But if you’re looking to invest in a piece of equipment that you know will last for years, then buying might be a better option for you. It all depends on your business plan.
Look over the leasing options to weigh the pros and cons.
A great way to make the most well-informed decision is to look at the leasing terms available. The Restaurant Warehouse provides a lot of details on the website in order to make it easier for business owners to make the decision. With their leasing options, you can get the exact amount of financing you need. It allows for flexible cash budgeting and permits 100-percent financing options. It can be tailored to the lessee a lot easier, and there aren’t as many restrictions as bank loan agreements. If you want to check out the application process, it’s quite simple. You get an instant credit decision and have the ability to electronically sign the finance documents. Then, when the documents are complete, you can start online ordering. When you buy equipment, it’s a pretty straightforward process. You simply choose the equipment and order it. Payment can be in the form of credit or cash.
With The Restaurant Warehouse, there are financing options available anywhere from $1,000 to $100,000. It’s perfect for startups as well as small and medium businesses. Regardless of whether you have a low credit score or a high credit score, there are special options for every situation. If you’re leaning toward leasing, then The Restaurant Warehouse is a great option.