If you own or operate a small business like a restaurant, bakery, or even a bed-and-breakfast or hotel, you are certainly no stranger to the world of food preparation. Guests demand quick service, impressive food, and affordable prices – all of which necessitates proper food preparation equipment in the kitchen and a highly trained staff. If you are considering upgrading your existing food prep machinery, tools, and supplies, you’ll want to seriously consider how you are going to budget for this significant expense.
Some small business owners choose to pay cash for everything – but that can leave the business in a cash poor situation that can create serious problems down the road. Other leaders choose to finance practically everything, but that isn’t the right answer either. Most experts agree that securing new or preowned equipment for a business is made much easier by using a custom tailored equipment lease. At National Funding, we offer a wide range of food preparation equipment leasing and financing programs that can help your business respond appropriately to customer demands, while preserving on hand cash.
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Benefits of Leasing or Financing Food Prep Equipment
- Keep more cash in the bank – while the goal isn’t to simply stockpile money in the business bank account, it always makes good sense to have significant reserves on hand. Leasing eliminates the need to use cash to facilitate equipment purchases, which means that you will be able to manage monthly expenses like payroll, inventory, utility bills, and more without having to second-guess whether or not you have enough cash in the bank. Plus, having access to cash means that you may be more apt to take advantage of lucrative opportunities in your industry.
- Reap serious tax benefits – most financial advisors or tax professionals will agree, a lease simply trumps almost all other business financial tools when it comes to overall tax benefits. Leasing equipment rather than purchasing it outright enables you to access advantageous tax deductions such as the Section 179 deduction. The limits tend to fluctuate from year to year, but this lucrative tax deduction can shave tens of thousands of dollars off of your company’s tax liability per year.
- Create a friendlier budget – when creating your monthly budget, consider how easy it is to simply plug in a monthly lease payment into your existing budget. There are no surprises with an equipment lease – your monthly payment stays consistent to the end of the lease term, when you have the option of either purchasing the equipment, returning it, or renewing the lease. Eliminate dangerous spikes within your budget by utilizing a predictable and safe equipment lease from National Funding.
- Obtain better equipment – one huge benefit to leasing versus purchasing using cash is that you will generally be able to afford much better equipment. This is due to the low monthly payment that is inherent to our leasing programs, a payment that fits into any budget with ease and can finance quite a lot of equipment at an affordable payment.
If you are ready to outfit your kitchen with the new equipment and tools that you’ve always wanted, contact the experts at National Funding today. We will help you by designing a lease program that will be affordable, flexible, and will work within your budget. Simply contact us directly today, complete our quick application, provide a few basic pieces of documentation, and we will then work hard to provide a loan approval in a matter of hours – not weeks or months like a bank or credit union. You’ll be one step closer to maximizing the efficiency and output of your kitchen, and that means enhanced profits and satisfied customers. Contact us today to take the first step!