Struggling to come up with the cash for your catering equipment? Consider leasing it.June 10, 2016
Whether you’re a high-end restaurant in the heart of London, a quirky high street patisserie, or the local cafe, you’re going to need catering equipment, and you’re going to have to pay for it.
Catering is an ever-expanding industry, full of people with a sincere desire to serve their customers great food. Yet whilst there are thousands of entrepreneurs hoping to open up shop each week, it’s no secret that high-quality catering equipment, especially the more specialist kind, is a huge cost for small to medium-sized businesses.
With so many other costs to consider in running your catering business, it may be wise to consider an alternative to scraping and saving for that ice cream maker, or settling for the cheaper – and low-quality – pizza oven. Although there are many financing options available, the best alternative to finance your equipment is a leasing agreement.
A lease offers your catering business the ability to retain its flexibility by paying manageable monthly payments. This means you’ll be paying out from your monthly earning rather than out of your capital. Lenders also tend to favour leases as they are secured by the piece of equipment involved. Leasing is also one of the most tax-effective ways to finance the equipment you need, as these payments can be deducted from your taxable profits.
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