To be able to operate successfully, your new startup or franchise might need to acquire assets or capital equipment such as computers and cash registers, machinery, furniture or vehicles, that you may not want to purchase outright. The option to lease this equipment is an often overlooked, yet prudent way for new businesses to afford the equipment they need to open their doors and make their business a success. By leasing equipment rather than buying it outright, you have less or no cash outlay, as well as more predictable payments. Leasing is a terrific strategy for many startup small business owners and franchisees.
The best way to ensure your success is to choose an option that suits your needs exactly. Many small business owners and franchisees don’t realize that they have several options when it comes to equipment financing. The following are just some of the options available to you.
- Equipment Leasing – It may be better for you to lease your equipment instead of purchasing it. You can still gain all the benefits of purchasing equipment with a leaseback program. Ownership can be transferred to you once payments are complete.
- Start-up Equipment – Special programs are available for a new business or franchise that needs to acquire the necessary equipment to open its doors for the first time. Get your business started on the right foot.
- 100% financing – no down payment required
- Conserve capital
- Leased equipment is the collateral so no additional collateral required
- Quick approvals
- Potential tax benefits
- Improved cash flow
- Fixed payments
- Doesn’t count as debt on your balance sheet
- No costly repairs