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kitchen equipment finance

two baristas working in a cafe making coffee using kitchen equipment

In the bustling world of hospitality, having the appropriate equipment is pivotal to success. 

Whether you’re a restaurant, café, bakery, or any other business with a commercial kitchen, having outdated or insufficient equipment in your business can significantly impact productivity and, consequently, profitability.

You may be considering investing in modern ovens, mixers, refrigerators, deep fryers, or coffee machines – whatever the item, obtaining the right financing is a crucial step toward realising your business objectives.

The advantages of upgrading your kitchen equipment

Investing in new kitchen equipment for your business can unlock numerous advantages:

1.  Growth opportunities

Upgrading or adding to your kitchen equipment inventory expands on your business’ capabilities. This could lead to you being able to take on larger catering contracts, or making more products, or pushing out more meals per service. Consequently, this can lead to additional revenue streams, hiring of additional staff, and overall business growth.

2.  Improved efficiency & quality

State-of-the-art kitchen equipment significantly enhances productivity within your food business. It enables certain tasks or jobs to be completed quicker, while upholding high-quality standards. By optimising your operations, you can save time, reduce food waste, and deliver exception results that will help to set your food apart from the competition.

 

3.  Enhanced profitability

Investing in better kitchen equipment can lead to cost savings, reduced labour expenses, and increased output.  With improved productivity and the ability o handle more significant projects, your business can generate higher revenue, and ultimately boost profitability. New equipment can also mean less downtime due to reduced maintenance and fewer breakdown issues, ensuring timely food service, or product delivery.

 

What to have ready for your finance broker

When seeking commercial finance for your new kitchen equipment, getting accurate information ready and sent through to a broker like Alegra Financial Solutions will expedite the process. Here are the key pieces of information to have ready for us:

  • Basic business information: Provide essential business details such as your trading name, ABN/ACN, and your operating structure (e.g. sole trader, company, trust).
  • Equipment Details: We’ll need to know what it is that you want financed. Specific information that the application needs includes the make, model and price of the piece of equipment, and also whether it’s new or used.
  • Your Financial Information: To get your finance application underway, we’ll need you to give us some financial information such as your current turnover, overheads and existing debts. Your accountant can often help us with this information quite easily.

 

Ready to get finance for your kitchen equipment?

Engaging a commercial finance broker like Alegra Financial Solutions as early as possible in the equipment purchasing process is beneficial. We work to understand your individual needs and circumstances, offering a range of financing options through our panel of 52 lenders so that we can find something that aligns with your requirements, without impacting your day-to-day cash flow.

Reach out to us today to start the conversation and we can explore the best course of action for financing your kitchen equipment  > Contact Us.