To grow and expand, business owners need equity in their business. However, how do you achieve this if you are financing your hospitality equipment through traditional means?
Traditional financing includes long term leases and tying up large amounts of working capital in depreciating assets.
A lease is ‘on balance sheet’ therefore reducing business owners’ equity and their ability to borrow in the future.
With The Silver Chef Rent-Try-Buy® Solution, this is no longer has to be the case. The solution offers businesses a 12 month rental contract, and because renting is ‘off balance sheet’ like salaries or electricity, business owners can now acquire the hospitality equipment they need without reducing their equity or their ability to borrow.
“We’re thinking of opening new stores,” says Rafi Jelenkerian from Pizza Plus Express in Sydney. “We currently have $120,000 worth of equipment and we are aware that if we were to have taken a lease on the equipment, when we tried to open new stores we wouldn’t have been able to get the finance.”
Whether it is opening more stores, increasing kitchen capacity, or running promotions to improve business awareness, the Silver Chef Rent-Try-Buy® Solution frees up capital for growth without reducing business equity.
“Silver Chef offered me a solution that meant I could grow my business, but the company also offered a personal touch that the banks did not,” says Rafi. “They came out and saw me personally; they looked at my business and listened to my ideas. With Silver Chef I wasn’t just another number…and being new to the industry, the personal service meant a lot.”
The Silver Chef Rent-Try-Buy® Solution is helping young hospitality start-ups across Australia to grow their businesses, maintain their equity and achieve their dreams.
When asked how Silver Chef had helped his business directly, Mr. Jelenkerian responded, “Because of the Rent-Try-Buy® Solution, we will be able to acquire the finance we need to open more stores and expand.