Leasing restaurant equipment: worth it or not?

This topic contains 6 replies, has 5 voices, and was last updated by  Vivian 2 weeks, 5 days ago.

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  • #4617

    Jillian

    I want to start a business and am debating on whether to lease or buy kitchen equipment. I am leaning towards leasing it. Have any of you leased kitchen equipment? What were some of the benefits of doing so? Perhaps you could help me to make a decision.

    #4619

    Dawson

    I was in your position about 15 years ago. I decided to go with leasing. To be honest, I do not really think there is a right or wrong answer to this question.

    The most important consideration would be your own current situation. Whatever is right and works for you is what matters most. Just because someone leased their equipment and it worked wonders, it does not mean it is the thing for you as well.

    Think carefully about the big picture before deciding. I leased my kitchen equipment from Nella Cutlery and it was the right thing for me at the time. It worked really well. They are an experienced company and they had good options.

    #4620

    Jillian

    Oh, I know them! I used to work in a kitchen many years ago and they would come by every month or couple of weeks to give us sharp knives and take the others back. I remember we always had great knives in the kitchen because of them.

    #4621

    Sharon

    Starting this kind of business is really expensive. However, one very obvious benefit if you lease is that there are less expenses. What I did was to lease and then I poured money into other aspects of the business to gain financially and strengthen and establish my business.

    Even though I could just about afford the lump sum payment, I chose to go with a monthly payment by leasing. It was affordable and it worked out well for me.

    #4622

    Vivian

    If you invest in expensive equipment and something happens, you need to dig into your pockets to have it repaired. On the other hand, leasing it would mean that they will come and fix it as part of the deal. After all, it is their equipment, right?

    The other advantage is that these technicians will come by periodically to service and maintain their equipment so that it functions optimally. That’s great, because you need not worry.

    If you own the equipment, you are either on your own or I suppose you could arrange with the company to have this service. However, you will have to pay for it. Because it comes out of your pocket, you may decide to have it serviced as minimally as possible.

    This could also mean that you may not spot a problem that is growing. Everything appears to be fine, then one day, it dies on you. This could have been prevented with regular maintenance from the professionals.

    #4623

    Jillian

    I see your point. That could be pretty disruptive and cause the loss of business for a while until it is sorted.

    #4624

    Vivian

    That’s right. You never want to tell customers that you won’t have a certain (popular) dish for a couple of days until a problem is sorted, do you?

    You might want to consider something like lease-to-own? Get the best of both worlds.

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