Starting A Restaurant? Benefits Of Equipment Leasing

12 May 2023
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If you have plans to start a restaurant, the upfront investment is often overwhelming, especially since you have no guarantee your business will be successful. Leasing equipment is a good option for getting your business off the ground.

Start With A Food Truck

If you haven't invested in a physical location, you might want to consider starting your restaurant as a food truck. This allows you to make judgments about your business without a significant investment. For example, a food truck is a good way to gauge how people respond to your cooking. If you find people aren't responding well to your food, you didn't invest a lot of money in property or equipment. Leasing a food truck is often the best approach since the monthly price is typically lower than financing and more manageable for new businesses. Depending on the outcome, you might choose to buy the truck at the end of the lease.

Keep It Small

Regardless of whether you have a food truck or a physical location, you need to start with a small menu. A big reason restaurants fail is because they want an extensive menu and focus on quantity instead of quality, or can't keep up with orders. Having a small menu will make it easier when you are selecting restaurant equipment because you will not need as many different appliances. The type of food you select will also be important. You will need foods that are quick to make and have components that can be pre-cooked.

Sandwiches and burgers are popular options because you don't need a lot of equipment. You need a griddle to fix burgers and for melting cheese on some types of sandwiches. A large griddle will allow you to fix many burgers and sandwiches at one time. You will need a large fryer if you have fries or onion rings. Keeping your menu small allows you to run a business with little more than a refrigerator, griddle, and fryer, and keeps your monthly lease payments more manageable.

Have Growth Potential

A major reason a business might lease equipment instead of renting or financing is that they have more growth potential with leasing. Assuming your business is successful, you might need a larger food truck to meet demand. At the end of your current lease, you can lease the next truck that is larger and/or has more amenities. Restaurant equipment can be the most important equipment that needs to be upgraded at the end of your lease. Generally, newer equipment helps solve problems you might encounter with more affordable equipment. For example, temperature control or wireless integration can make it easier to multitask while cooking and speed up service.

Leasing equipment, such as food trucks and appliances is often the most reasonable approach when you are starting a restaurant. You can test the waters with a new business and scale your equipment based on business growth.

Contact an industrial equipment leasing company to learn more.