With the high costs of starting up a new business, many business-owners choose to lease or rent the equipment that they need to help them get started. The bakery industry can be particularly expensive, with a wide variety of machines from mixers to scales to ovens. As a result, it can make good financial sense to look into both bakery equipment for lease and bakery equipment for rent. Even established bakery businesses often have a need for bakery equipment leasing as new technology enters the field often, making it difficult sometimes for business owners to keep up with the latest models.
The best sources of information on bakery equipment leasing and bakery equipment rental are the companies that sell such equipment directly to businesses. There are several companies specializing in bakery equipment, and most of them offer leasing options. Keep in mind, however, that you will need to qualify for a bakery equipment lease with a reputable lender in order to take advantage of this option. The equipment merchants typically work in concert with a bank or other lender to offer favorable bakery equipment financing to financially-secure businesses.
Keep the following in mind when renting or leasing bakery equipment:
1. Lease bakery equipment only from reputable vendors.
2. Know what equipment you need before applying for a bakery equipment lease.
3. Compare equipment rental and leasing companies in order to get the best deals for your needs.
Action Steps
The best contacts and resources to help you get it done
Research different bakery equipment leasing providers
There are many reputable leasing providers available, so shop around in order to find the provider that offers the best rates for your financial position and needs.
I recommend: General equipment leasing providers, such as Buyer Zone, offer free financing quotes for leasing, purchase loans and other business loans. They offer a
customizable loan request online.
Keystone Leasing, Inc. also offers an
online application and is a large enough company to handle all leasing paperwork without involving an outside company.
Watch out for bakery equipment leasing scams
With so many companies offering leasing options, it's important to make sure that your lease is valid. Especially look out for offers of pre-approved credit, unsecured pricing and any deals that are too good to be true.
I recommend: Keystone Leasing offers advice on
how to avoid scams when leasing bakery equipment.
Determine the equipment you need by consulting bakery equipment retailers
The larger equipment retail and rental companies carry most required products and partner with bakery equipment leasing providers to make their equipment available.
I recommend: Bakery.com,
Bakery Equipment.com, Inc. and
Bakery Equipment Services all offer a wide selection of bakery equipment as well as partnerships with financial institutions for bakery equipment leasing.
Consider bakery equipment rental for short term needs or in cases of poor credit
Leases are only given to companies with good credit ratings, so it might be necessary to rent baking equipment. In addition, some baking needs are temporary, making long-term leases less desirable.
I recommend: Bakery Service offers a listing of
local bakery equipment providers in the US and Canada. Along with companies offering leasing as well, local providers are a good source for equipment rentals.
The official source of Bakery Equipment Leasing is
the Bakery Equipment Leasing page at Business.com
Related Resources from Business.com
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