Since ancient times, restaurants, or small food counters as they were, filled the streets with pre prepared food ready for purchase. Considered to be an important part of socializing, eating out today is no different. With the restaurant business on the rise, many of us have embraced this popular activity and chosen to make it a part of our lives.
Starting a business can be challenging and managing your cash flow is not easy. Every business concept is unique. Finding the money to start a business is tough but it doesn’t have to be. Today many financial institutions offer flexible solutions that can see you save you on your capital and keep your options open. Whist purchasing outright can be costly and loans difficult to obtain, businesses are often seen renting or leasing their equipment. In such instances, what owners need to consider is which will be most beneficial to their business.
For any start up or small to medium established business flexibility is key. Choosing to rent your equipment can give you the great head start you need. For little or no upfront cost you can obtain all the equipment you are looking for straight away. Renting has no directors guarantees, this means little paperwork and 10minute over-the-phone approval. Its low weekly repayments also free up your valuable working capital enabling you to spend your time and money on the growth of the business and other important expenses.
Tip: Renting equipment does not lock you in any long-term contract. In time you can upgrade your equipment or purchase should you wish to own it.
Alternatively, if you are an organisation looking to purchase equipment totaling over $30,000, leasing is a great way to start making money. In most instances, the price of purchasing leased equipment is lower allowing you to make residual payments over the length of your lease term. In time, as your business evolves you can add new equipment, at any stage of your lease, and benefit by including it to your existing monthly payment.
Tip: Leasing is a fully deductible operating expense for tax purposes. What’s more you are the owner of your goods.
If you are looking to grow a successful business, Cafeideas is here to help by offering a number of finance solutions to suit your needs. To find out more click here.