Catering Equipment Hire

If you are interested in catering equipment hire , finance or rentals, there are now many types of finance products available. Selecting the right solution can save you money and help your business grow faster. Elan Catering Equipment 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.

Silver Chef

How much is my rental repayment?
You can easily work out your repayments using the Rental Calculator.

You can apply for Silver Chef funding in one of the following ways:

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:

  1. Purchase the catering equipment at anytime during the first 12 months and receive a 75% rental rebate
  2. Return 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

The other benefits of Rent-Try-Buy are many and include:

Franchise Accreditation:

Silver Chef has recently launched Franchise Accreditation to help franchised businesses in Australia:

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:

Related Downloads:

Should you require Elan Catering Equipment to help you arrange finance, please contact us to discuss your requirements with your Prestige sales consultant. Alternatively, you can arrange your own finance with your bank or financial institution of choice. If you are not certain which finance product is right for you, please consult with your accountant or financial advisor and make an informed decision. Here are some of the major differences between renting, leasing and outright purchase:

Rental

Lease or Commercial Hire Purchase

Outright Purchase

May qualify for off balance sheet reporting

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

Simple accounting if the equipment is used for business use then the payment is tax deductible

More complex equity accounting may be required

Yearly accounting requirements of calculating asset depreciation and relative balance sheet adjustment will be required

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

No residual value liability

Residual value liability

No residual value liability

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

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

Additions and upgrades need to be paid in full, reducing working capital

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

No risk of equipment becoming obsolete with ability to upgrade

Risk of equipment becoming obsolete

Risk of equipment becoming obsolete

Flexible end of term options, minimal disposal cost

Minimal end of term alternatives with residual liability

N/A