Having the right commercial equipment is key to increasing productivity and expanding business operations. Investing major capital into commercial equipment isn’t always easy for business owners. Failing to invest enough to upgrade essential equipment can make a business less competitive and restrict growth. The good news is that investing in commercial equipment doesn’t have to cost a lot if you know how to find it.
Assessing Your Needs
Before deciding on any new purchase, it’s important to assess your business needs. Take a look at your production process and your business goals, and make a realistic analysis of how you can reach those goals. Consider whether investing in new equipment will support these goals and future growth and if the investment will help your business maintain a competitive advantage. Never wait until the last minute to upgrade your equipment. Waiting until the last minute is the best way to incur unplanned expenses and experience a loss in production. Investing in new equipment out of necessity can risk paying more than you should.
A great example of staying ahead of the curve and maintaining a competitive advantage is Zach Mottl. He’s the fourth generation of his family to own and operate Atlas Tool & Die Works, a world-class precision manufacturing facility that offers a broad array of metal manufacturing services. Zach Mottl works to continuously improve business with new and existing customers, as well as engage in outreach, development strategy and finding operational improvements in both Atlas and his family’s related businesses.
Used or Refurbished
Business owners can find great deals on new equipment online provided the equipment has manufacturer support, spare parts, and accessories available. It’s important to compare used or refurbished equipment with new options to determine the best investment to suit your needs. You may find that paying for the latest features isn’t necessary for the growth of your business operations.
Purchasing the right quality products for a commercial kitchen requires a lot of capital. Whether opening a new restaurant or upgrading an existing kitchen, restaurant owners can avoid paying the full purchase price by taking advantage of restaurant equipment leasing. Equipment finance makes it possible to pay smaller monthly payments as restaurant equipment is used. Having the right kitchen equipment is key to positive cash flow and new business opportunities. When restaurant owners search for ‘lease restaurant equipment near me,’ they will find quality products with The Restaurant Warehouse.
The kitchen equipment supplier offers restaurant equipment financing on all the essential equipment for any foodservice operation. Business owners can find pieces of equipment from major brands like Atosa and True including freezers, refrigerators, ovens, grills, ice machines, prep tables, mixers, and other essential appliances.
Consider Finances
Coming up with the capital for new equipment can be challenging, especially with COVID-19. Business owners can find plenty of financing options if they are willing to shop around. Equipment financing is a smart way to free up cash flow for daily or unexpected expenses. While it’s important to pay attention to interest rates when financing, you should also consider factors such as the cost of shipping, installation, and training workers on how to use the equipment.
Always take the time to research the type and quality of the equipment you need. Read reviews, check the reputation of retailers, and find out how the after-sales service is. Most equipment, especially new equipment, comes with a manufacturer’s warranty. Adding an extended warranty can increase the cost of a lease or purchase, and it’s not always necessary for all products.
Investing in the right equipment is key to driving business growth, taking advantage of new business opportunities, and maintaining a competitive advantage.