Buying vs Leasing Kitchen Equipment

Buying vs Leasing Kitchen Equipment

To buy or to lease: that is the question! With many things in life, we can either choose to buy or lease them. Houses, cars, machinery “ and now, kitchen equipment. There are perks to both options of securing high quality equipment for your kitchen: leasing comes with a lower upfront cost, whereas buying might save you more money in the long run. Let's go through everything you need to know about buying vs leasing your kitchen equipment, brought to you by the kitchen financiers at Flexikitch.

Buying your kitchen equipment
The traditional method of setting up your kitchen, buying your equipment is still the preferred method of many restaurateurs. Here are some of the benefits of buying your equipment outright:

• You save money in the long run
  Generally, you'll save money in the long run when you buy your equipment outright. This is because you have the option of purchasing second-hand goods and won't have to make monthly payments on your equipment.
• Increased flexibility
  When you own your equipment, you can use it however you like without worrying about warranties and breaching contracts. You might like to get experimental in the kitchen and create unique flavours which wouldn't be possible if you were leasing equipment.
• More autonomy in product choice
  Leasing equipment generally means you'll have to stick to what's available to you, whereas buying equipment broadens your product choice.
• Problem resolving
  If something goes wrong with a particular piece of equipment, you can easily and quickly solve the problem if you own it. Leasing equipment might come with the extra hurdle of informing your leasing company “ just like when you rent a house, versus owning it yourself.

Leasing your kitchen equipment
There are also plenty of perks to leasing your equipment:

• Use new equipment
  Using new equipment is a priority for many restaurateurs, due to the increased reliability and functionality that comes with new gear. Leasing your equipment gives you access to the latest models of products.
• Lower upfront cost
  Outlaying your kitchen comes with a lower upfront cost when you lease rather than buy your equipment. This is particularly handy for large, expensive pieces of equipment, where you'd have to spend tens of thousands of dollars upfront if you were to buy them. Leasing equipment is less daunting in this manner and allows better cashflow in the early days of your business.
• Repairs are often included
  Repairs are often included in your monthly payments, so you'll save a fair chunk of money if you ever need to pay for large equipment repairs.
• Easy to upgrade
  Upgrading is also very easy when you lease your equipment, meaning it's more adaptable as your business takes off.

The trick when choosing between buying or leasing your equipment, is to find a financier who does both! That's where the team at Flexikitch step in. We offer premium kitchen equipment solutions with both buying and leasing options for new businesses.

Register for our Mega Moving Sale below to get 5% off the sale price of all items - both ex rental and new!