While it may seem like buying your equipment outright at the start of your new franchise or during the expansion phase is a more affordable option, in the long run this may end up costing you more if you need to finance the repair and maintenance of your equipment down the line. When you consider asset depreciation, financing your equipment instead of purchasing it outright is the smart choice.
There are a range of finance solutions available including:
- Leasing options ranging between 3, 4 or 5 year terms, where you get peace of mind knowing you own the equipment at the end of the term.
- Rental options which range from 12 to 24 months. If you don’t want to get locked into a long term contract, this is the option for you.
- Business loans that allow you to pay off your loan over 3,4 or 5 years where you own the assets from the start of the contract.
The reason commercial equipment rentals, commercial equipment leasing and business loans are smarter choices than purchasing the equipment with your own capital is because it allows you to keep your cash to operate and expand your business. This is crucial during the start-up and expansion phases of any business, when promoting the business is of utmost importance and capital would be better spent on marketing, advertising and growing your business.
These various financial solutions are available through CFI Finance, who are committed to offering the most appropriate funding solution for your franchise business.
Some of the main benefits of financing your commercial equipment through CFI Finance include:
- Excellent customer service. Friendly and experienced customer service representatives are here to assist you, 24 hours a day, 7 days a week.
- Various financing solutions are available with manageable payment options, with contract terms ranging from 12 months to 5 years.
- There is minimal asset risk.
- In most cases, no personal security is required.
- Repayments can be 100% tax deductible.
- Because this is an off-balance sheet form of funding, there is no liability to record.
- The application is simple and quick. You can complete the application at your convenience, online.
Whether you are expanding to a second or more locations or starting up your first franchise business, Cashflow It aims to take the stress out of equipment financing.
As specialists in the franchise financing industry with directors who have more than 2 decades of experience in the sector. CFI Finance aim to make the process as simple, fast and transparent as possible with an easy online application, quick service and easy to understand contract.