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Should I Rent or Buy Restaurant Equipment?

Restaurant Equipment | August 26, 2021

If you are considering opening a restaurant or renovating your existing space, you are going to need to make several important decisions. One of the largest decisions you will make involves your restaurant equipment and how you will acquire it. While renting and purchasing are equally viable choices, some restaurants may be better suited for one option over another. As leading providers of restaurant equipment and supplies, the team at Raimac Industries understands the importance of choosing the right purchasing option. That is why we have provided some information to help you determine if you should rent or buy restaurant equipment.

Learn about the benefits of refurbished food equipment.

Renting

Renting is a great solution for restaurants that do not have access to sufficient capital for purchasing. Renting can offer the following benefits:

1. Lower Initial Investment

By renting equipment, you eliminate a high initial purchase cost or down payment in favour of a reduced monthly fee. This is ideal for restaurants that do not have access to large amounts of capital or savings. The reduced initial investment makes renting a more accessible option with a much lower entry barrier.

2. No Repair Costs

Ovens, flat tops, freezers, and refrigeration units are all subject to extensive use throughout a typical day. This heavy usage can cause wear and damage that can require costly repairs. With most equipment rentals, these repair costs come out of the owner’s pocket, not yours.

3. Fixed Monthly Costs

By choosing to rent your restaurant equipment, you are choosing an option with a fixed monthly cost that is easy to track and budget for. This minimizes the potential for any surprise repair costs and other fees, making it easy to allocate funds to other areas of your operation.

Purchasing

Purchasing is a great solution for restaurants that wish to own their equipment. Purchasing can offer the following benefits:

1. Building Equity

By purchasing a freezer, oven, or grill, you are building equity with every payment you make. Though these payments tend to be higher than rent payments, your money goes into paying off the unit. This allows you to maximize the value of your equipment and make money when it comes time to sell it.

2. More Freedom of Choice

The rental market is limited based on what other restaurants and companies have purchased. When you choose to purchase a unit, you have your pick from any option that is currently available on the market. This allows you to choose the perfect unit for your needs instead of settling for something that is close enough.

3. Access to Newer Equipment

Purchasing allows you to get brand-new equipment with modern features and performance. With renting, you will likely need to choose between older equipment options.

To learn more about our selection of restaurant equipment and to see which financing option is right for you, get in touch with Raimac Industries. Our team can be reached through our online contact form and will work with you to determine the ideal solution for your needs.


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