By Sarah Miller
The food business is a challenging one. Catering, in particular, has unique needs and progresses differently from other hospitality businesses. Nonetheless, it is also as fast-moving as the others, so you need the right tools to be able to cope with the momentum.
Whether your company is in the start-up stage or farther along, you’ll need to keep on investing in equipment as it grows. If you’re expanding your café or restaurant, consider catering equipment finance for either purchasing or leasing. You also have the option of investing in new or used equipment. There’s always a financing options that suit your needs best. The important thing is for you to be allowed to access what you need without having to dole out the cash to make large deposits up front.
Often, you want to focus on growing the business, but the lack of sufficient funds for doing so hinders your progress. It’s good to know that you can take advantage of catering equipment finance to be allowed the freedom to move forward. Why should you choose to take this route?
- You get immediate access to the equipment you want. There’s no need to wait while you save up.
- There are no deposits required and the VAT is spread over a period of up to three years.
- This is a tax-efficient option. You get to make tax deductible payments.
- This doesn’t tie up your capital so that you have the cash to use for other areas of your business.
- This gives you the freedom to get the machinery you truly want and not have to settle for what you can afford for the time being. Eventually, you are also allowed upgrade options to suit your needs.
- With fixed payments over a fixed period, you’ll have an easier time budgeting.
By going to the right financial institution, you can expect to get the best finance option available. There are programs that match your requirements with the different lending criteria available so you get financing that truly suits your situation. Frequently, the answer is in leasing.
The goal is to avoid the high set up costs of expanding your business. By choosing to lease, you can spread the cost of catering supplies over a few years. Doing this leaves you with the capital to invest in other aspects of your business, from marketing to payroll, allowing you to excel in the catering industry.
About the author: Sarah Miller is a business consultant by profession and a content creator, writer and blogger by passion. She frequently does research on useful information regarding the different methods and techniques to further improve business marketing, sales, performance and shares her passion of business management through blog/content writing. She visits sites like http://www.portmanassetfinance.co.uk.
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