Restaurant Equipment - Buying vs Leasing

1. Restaurant Equipment - Buying vs. Leasing The coronavirus pandemic has changed the food and beverage industry. Around the world, hotels and restaurants are looking for different ways to encourage customers back and making strategic alterations to their businesses. Although numerous leading luxury hotel restaurants have adapted to home delivery services, something that they had never even considered before for their famous restaurants, many standalone restaurants and outlets are moving their kitchen to the open so that diners can see their meals being prepared in front of them. The essential element here is to gain trust and confidence. While many countries are opening their doors to tourists even with never-ending lists of SOPs, the F&B industry is also waiting for the business to go back to normal. A New Way of Buying: Restaurant Equipment Leasing Buying and maintaining restaurant equipment is one of the major contributors to the expenses that are involved in running a restaurant or a hotel. For most restaurant owners, leasing their equipment is the answer to cutting down the initial outlay. In restaurant equipment leasing, restaurants are allowed to pay for equipment in monthly instalments, saving cash flow and

2. making way for further investment into retaining old and drawing in new customers. But you may not want to lease everything in your restaurant. There is no doubt about that equipment are really expensive. This is why restaurant equipment financingis a feasible way to acquire everything you need for your setup. Preserve your working capital for other expenses, especially the unexpected. Although you can lease almost any type of restaurant equipment, the most popular pieces of equipment are ice machines, dishwashers, coffeemakers and computer systems. You must lease the equipment that are likely to depreciate quickly, break down a lot or become obsolete quickly. Several restaurant equipment financingoptions work well for certain circumstances and a blend of outright purchases and leasing will definitely save you a lot of money in the long run. Financial companies such as Econolease have made the offer more cost-effective by making this service almost interest free. You can lease extremely efficient smart combi-ovens at very low and fixed monthly payments. These combi-ovens are popular for their food safety standards and excellent cooking. As upkeep and maintenance are handled by the leasing company, the lease model is an absolute win-win for professional kitchens that are adapting to the new normal. Benefits Of Restaurant Equipment Leasing 1.Minimal Upfront Costs In the case of restaurant equipment leasing, you do not have to bother with hefty down payments to budget for. By reducing the amount of money required upfront to get into a leasing deal, you will be able to reserve the cash to keep the restaurant up and running smoothly. 2.Lease To Own Lease-to-own restaurant equipment is as simple as shopping, applying, and qualifying. 3.Flexibility

3. When setting up a restaurant you will need more than just one piece of heavy-duty foodservice equipment. For instance, leasing a pizza oven does not mean that you will have to jump through hoops to lease a deep fryer as well. We recommend that you add any equipment that you may need to your lease agreement without any hassle. What Happens in The Case of Buying Restaurant Equipment? A lot of restaurant owners or entrepreneurs do not have the cash flow to spend in abundance up front. Once your warranty is expired, you are on the hook for any maintenance or repairs needed. Buying may seem like a better idea initially but it comes with a lot of cons in the longer run. Since equipment are an essential necessity when setting up a new restaurant, it is advised to opt for leasing. One of the best Canadian equipment finance & leasing company, Econoleaseas it has many options to offer you, helping make your dream of starting up a really cool restaurant come true.