Finance, Lease, Rentals
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If you are interested in catering equipment hire, finance or rentals, there are now many types of finance products and solutions available. Selecting the right solution can save you money and help your business grow faster.
Prestige Products can arrange a very competitive finance solution such as leasing or a commercial hire purchase to help you free up your cashflow for running your business. Silver Chef can help you secure the catering equipment you need through their unique Rent-Try-Buy finance solution.
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You can apply for Silver Chef funding in one of the following ways: ► Download the application form and send completed form back to Silver Chef:
► Apply Online ► Apply over the phone (FREE call): 1800 337 153 |
Silver Chef's Rent-Try-Buy is a premier rental solution perfect for cafe owners, restaurateurs and caterers who want to keep their options open. With the Rent-Try-Buy solution, you are not locked into a long term contract. Your commitment is only a 12 months agreement which gives your business the flexibility to:
2. Return the catering equipment at the end of the 12 Months agreement if you decide it is no longer required
3. Continue to rent the catering equipment and reduce your rental repayments and the purchase price
4. Upgrade if you decide your business has outgrown the original catering equipment
► Requires no director's guarantees (don't have to put your house on the line!)
► Rental payments are 100% tax-deductible for business use
► Renting is off Balance Sheet (it doesn't affect your capacity to borrow for future expansion)
| Franchise Accreditation: | ||
| Silver Chef has recently launched Franchise Accreditation to help franchised businesses in Australia: |
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Franchise Accreditation allows franchisors and franchisees to fund their equipment and store fit-out requirements without putting their personal assets on the line. This process can help franchisors attract the right franchisees to their business and assist by offering pre-approved funding for all existing and prospective franchisees.
Franchisees will have access to additional benefits over and above the standard Rent-Try-Buy solution:
► Pre-Approval - you need to complete a one page application form and you have pre-approved funding up to the accreditation limit.
► Reduced Bond - the standard Rent-Try-Buy agreement requires a 13 week security bond to be paid. For accredited franchise groups, this is more than halved to just 6 weeks.
► Rental Discounts - if you decide to continue renting your equipment for more than 24 months, your weekly payments will be reduced by 25%.
► Dedicated Franchising Team - accredited franchises have access to a dedicated team of professionals at Silver Chef's Franchising Department, so you know you will get the best service every time.
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Related Downloads: ► To learn more about franchising Rent-Try-Buy, please download:
► To apply for franchise rental, please complete the Franchise Rental Application Form and return to Silver Chef:
► To learn more about Franchise Accreditation, please download:
► To apply for Accreditation, simply complete the application form and return to Silver Chef:
► To ensure you haven't missed anything, please see the Franchise Accreditation Checklist:
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Rental |
Lease or Commercial Hire Purchase |
Outright Purchase |
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Needs to be shown on the balance sheet as both an asset and liability |
Needs to be shown on the balance sheet as both an asset showing the reduction in cash reserves or increase in liability in overdraft |
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Simple accounting if the equipment is used for business use then the payment is tax deductible |
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Yearly accounting requirements of calculating asset depreciation and relative balance sheet adjustment will be required |
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Preserves working capital. Monthly/Quarterly rental expense matches the useful life of the asset as it is used to earn income |
Preserves working capital. Paying a fixed lease commitment on the asset as it is used to earn income |
Reduces working capital. Having to pay completely for the asset upfront |
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No residual value liability |
Residual value liability |
No residual value liability |
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Flexibility to upgrade to new technology anytime during the contract (certain criteria applies) through a simple variation of the contract |
Contract has to be paid in full to upgrade to new equipment |
To upgrade to new technology old equipment needs to be traded in or written off and additional funds are required to purchase new equipment |
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Flexibility to add on options and/or upgrade components of the equipment during the contract through a variation of the contract |
Not flexible. Any additions have to be financed or paid for separately from the contract with possible complications of ownership. To upgrade a component, the entire lease need to be paid out |
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Maintenance, installation and other intangible items can usually be included |
Normally for tangible items only. Intangible items like maintenance and installation must be paid for separately |
Maintenance and installation needs to be paid in full, reducing working capital |
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No risk of equipment becoming obsolete with ability to upgrade |
Risk of equipment becoming obsolete |
Risk of equipment becoming obsolete |
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Flexible end of term options, minimal disposal cost |
Minimal end of term alternatives with residual liability |
N/A |
