You’ve just finished your mid-morning rush when you hear something you wish you hadn’t: The mixer is acting up again. As you look at the once working stand mixer you start to wonder if it’s time for restaurant equipment leasing.
“Maybe we can finally upgrade some equipment around here,” you say. If you have a restaurant and are wondering if you can upgrade your kitchen staples, read on to learn the benefits of restaurant equipment leasing.
Your Leased Equipment Might be Taxed Deductible
When you buy a piece of equipment outright you pay the taxes on that equipment then. But when you lease, you pay the taxes over time with your lease payment. These payments may be taxed deductible because they are crucial in operating your business. However, it should be noted that the equipment itself might not be deductible, so be sure to double check with your financial adviser.
It should be noted that First Capital Business Finance is not a tax expert and you should always consult with your financial adviser when dealing with tax matters, including but not limited to what can and can’t be deductible.
You Won’t Have to Worry About Repairs
Have ever wondered why certain fast food restaurants can’t serve the ice cream creations they advertise? It’s because they’re responsible for the repairs on the ice cream machines. That’s one of the drawbacks to owning restaurant equipment. Leasing doesn’t have this problem.
So if you come to work one day to find out your leased equipment is broke, no sweat. Just call the leasing company and they’ll be able to coordinate the repairs (and pay for them) so you’ll be back to business in no time.
Upgrade Your Restaurant Equipment
Get Equipment With Bad Credit
One of the biggest benefits to restaurant equipment leasing is that you don’t need good credit or capital to get started. So if you walk into your kitchen one day to discover that one of your tried and true pieces of equipment suddenly broke, you could get a replacement that’s even better than what you had without paying a large sum. The payment you’d have to worry about is your monthly payment and many financing companies can work with you to create a leasing that works with your budget.Get the equipment you need regardless of your credit history.
Your Leased Equipment Might be Taxed Deductible
When you buy a piece of equipment outright you pay the taxes on that equipment then. But when you lease, you pay the taxes over time with your lease payment. These payments may be taxed deductible because they are crucial in operating your business. However, it should be noted that the equipment itself might not be deductible, so be sure to double check with your financial adviser.
It should be noted that First Capital Business Finance is not a tax expert and you should always consult with your financial adviser when dealing with tax matters, including but not limited to what can and can’t be deductible.
Try Out New Equipment
Think about this for a moment. A restaurant employee suggests you try making an Instagram worthy dish. They think it will grab the attention of your regular restaurant goers and attract newcomers as well. There’s just one problem: it requires equipment you don’t currently have. Instead of plunking down the cold cash for equipment you’re unsure you could afford, try leasing it. This way you could test run the new food creations to see if their worth becoming a menu staple. If they are, you can decide then if you should by. If they don’t, simply don’t renew the lease and you should be fine either way. This also works if you’re using the equipment seasonally. You could lease what you need for the season and not renew the lease once the season is up.Try Out the Best Equipment Today
