Just about every small business out there, at some point during their operation, will have a need for an equipment lease. After all, an equipment lease can be used to finance a whole host of different equipment types – both used and new – all of which have a major impact on business operations.
Here are some big ways that financing a new piece of equipment can positively impact your small business:
Increased efficiencies. A brand new piece of equipment can speed up your production and make your entire production line run smoother. Not only will you be churning out product faster, giving you a shot to sell more, but the new machine will like be more energy efficient too, likely taking a dent out of your utility bills.
New product offerings. A new piece of equipment could even allow you to branch out into new product offerings and expand your product line – allowing you to tap into an entirely new revenue stream. If you’re running a franchise business, getting the equipment and adopting the product early on could put you in your franchisor’s good graces and give you an extra boost of traffic due to the new product buzz and excitement.
Safer operations. Running seriously out of date equipment at your small business can put your business and employees at risk. One piece of equipment with faulty wiring, sharp corners, or lacking a safety shut-off switch could mean fines, lawsuits, or worse – serious bodily injury. It’s imperative to ensure all of your machinery is up-to-date and complies with current safety regulations.
Marketing opportunities. Adding on new equipment at your small business almost certainly presents a marketing opportunity. Your prospects and current customers would probably love to know that your new POS system has cut the wait time in half or that you’ve added a milkshake machine to your ice cream shop. Positioned correctly, that new piece of equipment could mean new faces in the door at your small business.
Are you in need of equipment financing? Be sure to check out what Direct Capital has to offer.
Direct Capital is a leading nationwide provider of equipment leasing, business loans, and working capital.*
*Working capital not available in the following states: AK, DE, ND, VT