If you are planning to apply for a franchise but are quite problematic because you don’t have enough funds to get the needed equipment, you can apply for an equipment financing. There are plenty of companies that offer this kind of financing and in fact, Cashflow It is one of them.
It is not a common situation and it is known to be advantageous. Check out the most notable benefits of this system:
- More affordable option
We all know that most equipments these days are really pricey though of course, the extent will depend on the kind of franchise business. However, knowing that there are so many things to deal with when starting a business, might as well always have money for emergency situations and just avail it for the things your business needs.
- A chance to upgrade
Another good thing with equipment financing is the chance to upgrade the equipments. Because on this financing, you are basically just renting the item, you can also trade it for something better if the need arises. This is one of the best features companies can have.
- Possible tax benefits
This might not be part of the benefits you expected but still, this is one of the most notable and appreciated benefits when you go for equipment financing. There is now a tax law that leased equipment will not be taxed thus you are free of any tax obligations for them.
- Repairs might be shouldered by the finance company
This will vary on the companies though. Thus this should be checked first before finalising everything. You see, no matter how well-trained your staff is, there will always be a chance that accidents may happen and your leased equipment might be part of it. This is why you should ask upfront is your financing company will shoulder for repairs in the future.
This option is indeed beneficial. However, this will also depend on the kind of equipment financing you end up with. So make sure you do your research and visit http://www.cashflowit.com.au/.