Business owners know the value of purchasing equipment that is invaluable for their core business. This is why many business owners think nothing of purchasing the relevant machines and equipment that enable them to churn out an endless supply of products. At the same time, leasing equipment offers a number of advantages as well. For instance, you could avail deductions for legitimate business expenses for equipment taken on lease for your commercial bars or kitchens. In addition, many lessors offer upgrades to the latest models on kitchen equipment at nominal rates. Thus, you could get attractive bargains without having to purchase commercial catering equipment that might be quite costly.
When you’re wondering which of the two alternatives would be best for you, consider the following parameters:
- Your Budget: Small businesses do not have large budgets. As such, they might not be able to afford high-end products such as the Baron combination ovens range. In this scenario, it might be best for them to purchase the equipment that is most essential for them. Thereafter, they could simply take other cooking appliances on lease. Your budget will enable you to determine whether you can pay for the appliances in question. It would also enable you to assess how long you would be able to pay for them.
- The Size of Your Business: If you’re just starting your business and have a small target market, it follows that you’ll have a small budget. As such, you might not have the finances necessary for purchasing commercial kitchen appliances outright. Each additional expense could derail your finances. Even worse, these purchases could push you further into debt. In this scenario, it makes sense to rent equipment that you cannot afford. Alternatively, if you regularly cater to hundreds of guests each day, then you would be better off purchasing your kitchen equipment.
- The Duration of Use: If you’re only going to use the kitchen equipment for a short duration, avoid purchasing it. Purchasing the Austune Turbo Air Refrigeration range of products for some months could be counterproductive. You might plummet into debt and find it hard to recover control of your finances. Similarly, if you’re going to use these items for lengthy durations, consider purchasing them.