The huge benefits of renting your fridge equipment
Renting fridge equipment for your restaurant, café or store is a simple decision for many business owners, particularly those who have gone through the process before and are now familiar with the benefits to be gained.
However, if this is your first time investigating commercial fridge rentals, you may be a little unsure as to whether a rental is your best option compared to purchasing and owning your equipment outright. We’ve been in the commercial fridge rental game for a long time, and we can state without bias that in 90% of cases, our customers are far better off renting than buying. To make it easier to get an understanding of the huge benefits of renting your fridge equipment, we’ve put together a quick list of the advantages below.
100% of the asset, 0% of the liability
To put it simply, renting your fridge equipment instead of buying gets you access to 100% of the benefits of having that fridge equipment with none of the liability of carrying a large, expensive, depreciating item on your books.
Rather than damaging your cash flow for a long period in order to save the money to afford a fridge (or worse, financing the fridge and damaging your cash flow for even longer into the future), you can gain access to the equipment immediately and not outlay a significant amount of the cash you have on hand.
If you want access to modern and effective equipment without dropping a load of funds that could be put to better use elsewhere, renting is your best bet.
Save Money on Repairs and Maintenance
By renting equipment rather than purchasing it outright, you’re partially shifting responsibility for the longevity of that equipment onto the shoulders of the company that leased you the equipment. You can take on standard fridge and freezer equipment rental agreements that incorporate reduced costs for standard upkeep and maintenance, usually provided by the rental company.
Further, you can also have clauses in place that can help you greatly reduce the cost of any required repairs and also ensure you have a replacement product in a short turnaround if your equipment breaks down. This can be critical for businesses who may lack the liquid capital to immediately replace faulty equipment.
No need for a Warranty – Just Trade-In
When you’re renting your equipment, warranties and lifetime depreciation aren’t your concern. When a piece of refrigeration equipment nears the end of its life, you can simply renew your rental agreement with the organisation you’re renting through and upgrade your equipment at the same time. This is one of the biggest advantages of renting fridges and freezers – you don’t need to keep an eye on that calendar and panic when something goes wrong two months outside of your warranty period.
Regain your Cash Flow
Investing a huge sum of money into refrigeration can be debilitating for the cash flow of many small businesses. It is often outright unaffordable, which is why renting fridge equipment is often the ideal solution. Rather than trying to gather the full sum for installation and equipment costs, or financing for the cost of equipment plus hefty interest charges, you can simply incorporate the rental fee into each month’s incomings and outgoings and know that you have a set number that must be serviced each month.
Gain Access to the Latest Equipment
By renting your fridge equipment, you can more easily upgrade to the latest equipment when necessary. When you purchase equipment outright, you’re often faced with the prospect of maximising that equipment’s lifetime value for as long as possible, steadily paying more and more in maintenance costs each passing year for equipment that is outdated and less efficient than that of your competitors. By renting, you can upgrade to the most modern equipment at the end of each rental period.
Grow and Expand easily
As you stock more products (or even open new locations), you’ll need more refrigeration equipment to store and display your products. By renting your fridge equipment, you can quickly and easily expand your rental agreement to include more equipment. This may be far easier and more flexible than purchasing all new equipment, and can often have a far faster turnaround.
Want to know more?
We’re here to help. We have assisted hundreds of businesses around Australia with their rental fridge equipment requirements, and we can help you. Give us a call and we can speak about your needs and what we can do to help you address them.