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How to Lease Your Restaurant Equipment: A Guide

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Leasing your restaurant equipment instead of buying it can have many advantages. There are many costs associated with opening a new restaurant, and leasing some equipment will help you save some money. You will also not have to bother with paying for repairs if your leased restaurant equipment breaks down.

If you are planning to open your own restaurant, here is how you can lease your restaurant equipment.

1. Decide which restaurant equipment you want to lease

While some pieces of restaurant equipment should be purchased new, others are ideal candidates for a lease. You should consider leasing coolers, dishwashers, coffee makers, and ice machines.

It could also be a good idea to lease dishrags, cook uniforms, and table linens, as the company leasing them to you will be responsible for cleaning these items that get dirty all the time. Not having to clean them yourself will be a great advantage.

2. Shop around and ask for quotes

Once you have decided what your kitchen needs and what you want to lease, shop around. Ask other restaurant owners if they have a restaurant equipment company to recommend you, or go online to search for options in your area.

Request quotes from a few different companies, and compare the monthly or weekly fees you would have to pay to lease the restaurant equipment you are interested in. Since you will save money by leasing this equipment, you might as well choose the best brands on the market.

3. Ask about the services provided with the lease

Before you choose the company you want to lease your equipment with, ask about the services that will be included in your lease. The company should clean and service your leased restaurant equipment, but how often they do it might vary from one company to the other.

Most companies will also deliver your equipment and install it for you, but you should make sure this is the case with the company you choose. Try to find a company that will offer you outstanding customer service.

4. Read the details of the lease contract

Now that you have found the company with the best quote and the best services, you should make sure to read all the fine print of the contract before applying for a lease.

Figure out how long the lease will last, and what will happen if ever you need to terminate it before it ends. If you don’t feel at ease with the terms of the contract, it might be best for you to search for another lease company.

5. Apply for a lease

If everything looks fine to you, go ahead and apply for your lease. Keep in mind that the restaurant equipment company will have to perform a credit check to decide if they can approve you for the lease you want.

This might take some time, so don’t wait until your restaurant is ready to open to apply for a lease. If your credit isn’t too good, you might not get approved for your lease, or you might simply have to pay higher interest rates.

6. Get some free equipment

In some cases, leasing restaurant equipment can be free. A coffee distributor, for example, might be interested in giving you a free coffee machine, as long as you commit to purchasing their products.

This can be a good option for you, especially if you are a fan of their coffee and want to serve it to your clients. You are going to buy coffee anyway, so you might as well get a free coffee maker to complement your restaurant kitchen.