Restaurant Equipment Leasing: Points to Consider
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Starting or Renovating
If you are starting a restaurant or you?re a seasoned restaurant owner, you need restaurant equipment. If you?re thinking of buying concerns come to your mind like cost, terms, quality, and convenience. Health and sanitation are at the forefront of keeping your restaurant open and in compliance with the health regulations of the health department. This means using better quality restaurant equipment.
Lower Initial Costs and Other Benefits
The capital you would invest without leasing your restaurant equipment can throw you off balance. But leasing lets you reduce your initial investment. When you start or renovate a restaurant there are other big expenses. But leasing restaurant equipment won?t affect your banking lines, thus, most of your money is useable for the other expenses. Another good point about leasing is that though your equipment will depreciate, you can lease new equipment and the leasing company will move the old equipment for you at no cost and you don?t have to buy any new equipment, which would be more expensive than leasing the newer items.
Restaurant Equipment
This is some of the restaurant equipment you can lease: griddles, grills, microwaves, ice machines, food warmers, fryers, bar equipment, furniture, electric slicers, paging systems and so on. The commercial ice machines, coffee makers, and dishwashers are three of the most leased items of restaurant equipment because they are considered more suited for leasing. Other items that are perfect for leasing are: towels, uniforms, floor mats, and linens.
What To Do When Leasing
* Get several quotes on pricing. What does the quote include? Monthly payments? Which services are included? How frequently will the leasing company service or clean the equipment? Do they deliver and assemble the equipment like the majority of companies?
* Check out if leasing is cheaper than buying new equipment; used equipment would be cheaper, but you normally won?t get a warranty; leased equipment includes maintenance
* Reading the fine print is important; a lot of new restaurants go under in three years; a five year lease would hurt in this case
* Leasing restaurant equipment requires a credit check
* Look for coffee and beverage distributors that let you use the coffee maker, cooler or freezer for free, some do if you purchase their supplies
When you lease restaurant equipment and items you will have a bill, either weekly or monthly. You?ll also be under contract, which you should carefully go over the contract and having your attorney review it with you before you sign is a good way to make sure you understand the terms of the equipment lease. Then you?ll know if you want to agree to the terms or not.
Leasing restaurant equipment for your startup or for renovation of your existing establishment can be a good way to have the equipment you need. Just be careful, read the fine print, make comparisons of leasing offers, and you?ll find the deal that you like and can agree to make.
Jay Murton is a well-known business writer who has been active in the business community for more than thirty years. He is currently exploring Equipment leasing opportunities . See more articles about Restaurant Equipment Leasing.
