Benefits of Leasing
Leasing restaurant equipment has several benefits including:
- • Saving you a lot of start up cash when you are getting ready to open. Instead of paying three thousand dollars for a dishwasher, you could use that money toward your first food order, or your first payroll.
• A leased piece of equipment may be free (as in no monthly lease fee) if you are already buying the companies product, such as dishwashing chemicals or coffeemakers.
• If the equipment breaks, you don’t have to spring for repairs.
• When the lease is up, you can get a new model if you choose to renew.
Certain pieces of restaurant equipment are better suited to leasing, because of their short life span. They wouldn’t be worth the investment to buy new. These items include:
- • Ice Machines
Other items that are ideal for a lease include table linens, cooks uniforms, floor mats and dishrags. Many companies specialize in restaurant linens, and it is often cheaper to send the laundry out than pay your staff to do it.
What to Know Before Your Lease
Of course, with any lease, you don’t own of the equipment and you will have a weekly or monthly bill. You will also need to sign a contract, which you should review (or have your lawyer review) very carefully, to ensure you understand it and agree to the terms.