Opening a restaurant can be a dream come true, but getting into the restaurant business is often more akin to a nightmare. One of the largest challenges facing aspiring restaurateurs is acquiring financing for equipment. The vast array of professional equipment that is necessary to open up a restaurant is staggering. From stoves and ovens to fryers and grills, there are many items that your business will need before even leaving the kitchen. Chairs, tables, silverware, and computer systems are all absolute necessities for your restaurant. Unless you have an extremely large amount of cash in hand, you will need to finance all of this equipment. One excellent solution is equipment leasing. By using equipment leasing, you can have a well-equipped restaurant without having to use all your precious cash.
Loans are hard to come by, especially in a high risk industry like the restaurant business. Additionally, there are many other necessary items that must be paid for in addition to equipment like marketing, labor, supplies, and rent. This is why leasing equipment is an attractive option for a new restaurant. Leasing your restaurant equipment has many advantages, the most important of which is that you can free up your working capital for other purposes while also acquiring the equipment that you need. With a low monthly payment that is tax deductible, equipment leasing is an excellent option for your new restaurant.
Another advantage of equipment leasing is that it protects you from obsolescence. Rather than locking in on purchasing expensive equipment that will be obsolete by the time you are finished paying for it, you can be continually upgrading your leased equipment as your needs change, without being locked into the old model.
Here are some considerations to keep in mind in leasing your restaurant equipment. Make sure that your equipment is approved by the National Sanitation Foundation to avoid getting into trouble with the health department. Also, keep in mind to buy only what you need for your current operations, as it is easy for eager entrepreneurs to get ahead of themselves. Lastly, make sure that you shop around with several different vendors and get quotes that are easily comparable to each other.