How To Finance Kitchen Equipment For Franchise Businesses
Getting kitchen equipment financing for franchise businesses is one of those things that can be really stressful for business owners, especially during the crucial start-up or expansion phases of the business, when there are so many other things to worry about.
Getting simple, convenient financing with manageable repayments will really help alleviate a lot of the stress associated with starting a hospitality business or expanding to a second or more locations.
Making the Best Choice for Your Kitchen Equipment Financing
For franchise businesses, one of the biggest concerns is acquiring the equipment needed for your restaurant, bakery or other small franchise business to operate successfully. When it comes to a hospitality business, your kitchen equipment is basically your business, but it can also be notoriously expensive.
You can either spend all your capital at the start and purchase the equipment outright or approach investors to help fund your equipment, however this will mean parting with some of your business as most investors will require shares in the business.
There is another option which allows you to keep your capital and avoid giving away chunks of your business, debt financing.
Many people have concerns about debt financing, probably because it is associated with banks, retailers and suppliers who usually require mountains of paperwork, and it usually takes a long time.
If you are concerned about the traditional problems associated with debt financing, there is a more convenient alternative – business loans, rentals or leasing solutions available through Cashflow It®.
Here’s what the Western Australian government says are the main disadvantages of debt financing,
- The loan must be paid back within a fixed time period.
- Loan repayments will commence shortly after the loan is approved.
- The loan is often secured against collateral which may include assets of the business or the owner’s property.
- It can be difficult to grow the business because of the cash drain of repaying the loan.
What Cashflow It® Can Offer You
At Cashflow It® we do away with the usual concerns by offering,
- Flexible payment options.
- We offer rental, leasing and business loans, depending on your needs.
- In most cases we don’t require any personal security.
- Repayments are manageable.
Most Convenient Way to Equip Your Kitchen Franchise
The entire process couldn’t be simpler than it is through Cashflow It®. After sourcing the commercial equipment needed, apply on our website. We usually have you approved within 24 hours and email the contract to you. The equipment supplier is paid and the equipment is delivered to start work.