5 Benefits of Restaurant Equipment Financing
Posted by Sean Kearney on
Restaurant Equipment Financing
You've dreamed of opening a restaurant for a long time. You have a passion for food and for serving your community in unique ways. You're excited to open your startup and officially become a restaurant owner. No matter what kind of establishment you are opening, from an Asian fusion grill to a local sports bar, you're going to need some general tools and equipment for your restaurant. Building the location from scratch means you'll need dining furniture, great decor, and, perhaps most importantly, kitchen equipment.
Without a working refrigerator, freezer, oven, grill, prep table, and more, you won't be able to get food out to the guests that come to your restaurant. This should be one of your first priorities as a new business. However, it can be incredibly expensive to open a restaurant and pay for every piece of equipment upfront. The restaurant industry is already notorious for being a financial gamble. You need to look for a way to afford your down payments on the building and other costs while you find new ways to afford your commercial kitchen equipment.
This is why restaurant equipment financing may be the best decision for your business long term. Rather than paying an astronomical amount upfront, you can get gently used and new equipment from a lender that you'll pay back with monthly payments as your cash flow starts to become steadier. There are a number of benefits to this equipment financing. Here are some of the perks of equipment leasing or financing that you can enjoy as a restaurateur.
- Get your restaurant open more quickly. Trying to officially open your business can be a stressful time. You are paying staff and footing the bill even though you don't have any working capital yet. Especially in a restaurant business, you are worried about equipment purchases, getting your food from vendors, and paying to train your staff, all before you've made a dime. The more quickly you can open your venue, the more quickly you can start making profits. This is one of the first perks of using equipment financing for your new restaurant. Rather than having to save up more money and delay opening because you can't afford a stove, freezer, or refrigerator, you can get any type of equipment with a lease agreement. This way you can open, start hitting your bottom line, and make affordable monthly payments that are spread out over a manageable period of time.
- Pay for your restaurant equipment over time. If you have a mortgage or finance a car, you're probably familiar with how financing solutions work. It is the same with your restaurant equipment. Essentially, this means that you take out a restaurant equipment loan and make low monthly payments over time rather than buying right away. While this financing option may come with a small interest rate, your equipment will be working for you to help make the restaurant money as you pay it off. This is a good option to balance out your financial situation while paying for your essential restaurant equipment over time.
- Spend your capital on other priorities. Running a small business or restaurant is all about balance. Your monthly revenue needs to stretch to cover a lot of different areas. You need to pay for staffing, food orders, marketing, and building costs. Clearly, you can't be spending a huge amount on your restaurant equipment alone. A successful restaurant will spread out its capital to fit all its priorities. With the right financing, you can keep your balance sheet working for you. Operate a commercial kitchen while still being able to afford everything else you need.
- Lease-to-own options offer flexibility. Many restaurant equipment financing options would be considered an operating lease. You are paying back a lender on a monthly basis in order to eventually own your restaurant equipment. Depending on the terms of the lease, your credit score, and the attitude of the lender, you can usually enjoy some flexibility with an equipment leasing option. If necessary, you'll be able to refinance your loan or adjust what type of financing will help you pay off the amount of money in the best way. Work with your equipment financiers to take your restaurant to the next level in a way that fits you.
- Find more affordable rates overall. Equipment financing is a great option if you're looking for lower costs on a regular basis. One of the benefits is the protection against inflation. Even if the cost goes up over time for your commercial restaurant equipment, you have a deal that locks you into a certain price. Finding finance companies that are willing to work with you will also help you find more affordable rates rather than overspending on your new restaurant equipment.
New Restaurant Equipment at Used Prices Restaurant Equipment PricesThe Restaurant Warehouse sells Atosa USA, the leading brand NSF rated in commercial refrigeration and cookware. Atosa USA offer a highly durable and efficient performance in any commercial environment.
- Free delivery in the continental United States
- No lift gate fees
- Available financing for purchases over $1,000
- No lofty down payments required (so you can start cooking today)
- And no overhead or middleman to cut into your savings
Always remember that the menu should influence your restaurant equipment needs.
NSF Rated for restaurant equipment sanitation is awarded to Atosa USA
All propane and natural gas powered Char-Broilers, Griddles, Hot Plates Deep Fat Fryers One year parts and labor warranty. Deep Fryer oil drums Five year warranty. The Commercial Refrigerators, Commercial Freezers, Sandwich Prep Tables, and Pizza Prep Tables come with a two year parts and labor warranty. Plus you get a Five year compressor warranty. We offer the option is to finance restaurant equipment. Finance your restaurant and have cash on hand. Budget your payments over several years making less expensive.
My name is Sean Kearney and I own and operate The Restaurant Warehouse my cell/text 206-419-5801 or email firstname.lastname@example.org. I answer emails, phone calls, or texts morning, noon or night.