You have poured your heart and soul into your catering business, and it is starting to really take off! Ensure that you compete as effectively as possible with the other caterers in the area by upgrading or replacing your existing catering supplies. From cooking equipment to utensils, tables and chairs to uniforms, you’ll want to ensure that your equipment and supplies reflect the high-quality nature of your company. While you certainly understand that having exceptional equipment at the ready and the appropriate supplies on hand is crucial, the last thing you will want to do is spend all of your hard earned money on equipment. Catering equipment leasing or financing through National Funding will enable you to gear up appropriately, without sacrificing your on hand business capital.
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Benefits of Leasing or Financing Catering Equipment
Leasing or financing catering equipment makes a lot of sense for the modern business owner, and some of the key benefits are:
- Significant tax savings – you will certainly want to consult with your tax advisor to determine the specific financial benefits for your business, but most business owners see a generous reduction in taxes owed to the government by leasing equipment versus purchasing it outright. The Section 179 deduction is one of the most prevalent tax deductions today, and it can significantly improve your company’s financial performance by preserving income and reducing the tax burden.
- Preserve on hand cash – sure, you will need to use cash in the bank for a variety of purposes, but securing new or preowned equipment should not be one of them. Businesses that do not have a reliable pool of business capital are often at risk of default when unexpected expenses pop up. Plus, having cash on hand enables you to react proactively when faced with lucrative business opportunities. Keep the money in the bank where it can help you manage payroll, recurring expenses, tax bills, and other basic operating expenses.
- Budget wisely – by taking a large, expensive item and creating a customized equipment lease for your business, we will help you to more easily budget for new or improved catering equipment. Simply pay affordable monthly payments towards your catering equipment lease and you will be able to easily integrate the costs associated with your new equipment into your budget. Large, one time equipment purchases can be quite detrimental to the monthly budget and makes planning for the future quite difficult.
- Get the latest and greatest equipment – when you purchase equipment outright there is a tendency to want to hang on to the equipment as long as possible. The problem is, your catering business will be perceived as behind the times when it comes to the equipment being used. When you lease catering equipment, you are often able to simply return the equipment at the end of the lease term – or you can buy what you want to keep. This flexible arrangement enables you to outfit your business with efficient, effective, and attractive equipment that will give you a leg up on your competition.
To get started, simply complete the form above or give us a call and one of our friendly lending specialists will help you to create a custom tailored catering equipment lease or financing plan that will fit your budget and meet your needs. Applying takes only minutes, a lending decision is almost instantaneous, and we are often able to fund a catering equipment lease in a matter of days – not weeks or months like a bank, credit union, or the SBA. Add to that our flexible payment terms and lease programs, and our legendary customer service, and you have a winning combination that will help you to gain market share and attract new clients. Contact us today and we will start cooking up a catering equipment lease or finance program for your unique business.