Equipment Leasing Used for Expansion, Remodeling, or a New Start Up
The largest restaurant in the world seats about 6,014 people, cost $40,000,000 to build and has over 1,800 employees! Maybe your restaurant isn’t exactly the Bawabet Dimashq located in Syria, but you are trying to expand and get your restaurant headed in the next direction. For starters, in order to expand you need some things:
- And Equipment
As a restaurant owner you always want the best for your business and it’s important to consider your options. The foundation of a restaurant should be a couple of things; however one of those should include your equipment. This way the employees have what they need to work and your customers have what they need to eat! Restaurant equipment leasing may not only be used for expansion but it could be used for a new start up, or remodeling old machinery.
Greg Bourdon discusses the benefits of restaurant equipment leasing:
It’s time to get rid of that old freezer or oven and time to upgrade through a restaurant equipment leasing company. Not all owners know exactly what their options are when it comes to getting new equipment for their restaurant. Always consider the possibilities for your restaurant equipment, whether it be upgrading your kitchen or investing in a new POS system. Don’t let the funds you have now dictate what you could be making in the future, especially if you were able to get another oven or more tables, for example.
A new point of sale system (POS) is crucial in order to track funds, make it so customers can pay with things other than cash, but most importantly it makes everything so simple. Things like interpreting balance sheets, freeing up lines of credit, and saving money on taxes become even easier through this equipment lease for your restaurant. With today’s new technology it would be a massive loss in revenue if you could not take credit, debit, or gift cards. This type of equipment leasing technology is a way to get up to date while staying relevant to your competition, and with flexible options that initial start-up cost doesn’t come out of your budget immediately.
Picture your financial scenario; with a second register and new POS system your projections have you doubling your revenue. You might not be able to afford buying it outright, but that is where your restaurant equipment financing options come into play. You get your equipment, with no money needed, overtime as you make these projected profits you can slowly pay it off with the agreed upon payments, and by the end of the term you can pay the rest to own it or upgrade it. Upgrading it will only require a new lease agreement and your restaurant will have the latest technology at all times.
Financing restaurant equipment will allow you to acquire things you need in order to earn profit through your company, without paying that lump sum for equipment.
If you are ready to take that next step Direct Capital would be glad to help your restaurant finance the equipment you need!