If you are considering investing in a BKI CLBKI-6E combi oven for your restaurant, but you do not have enough capital for it, then you should consider leasing. Restaurant equipment leasing is turning out to be one of the most popular options for enterprises looking to acquire new commercial equipment. Following the results of a recently concluded survey, 8 out of every ten businesses in the United States prefer leasing their machinery over procuring. Nonetheless, this is no surprise since, other than being inexpensive, restaurant equipment leasing comes with appealing tax advantages, fewer ownership responsibilities, and a string of other attractive benefits.
BKI CLBKI-6E Overview
BKI CLBKI-6E is an electric combi oven. Anything is possible in a limited space with this combislim oven. No room for a combi oven? No problem. Measuring only 20″ (51.5 cm) wide, this unit can fit in any space, making it ideal for bars and cafes. It features (4) 12″ x 20″ x 2-1/ 2″ pan capacity, two-piece rack, (five) wire shelves, touchscreen controls and program (500) recipes with up to (15) steps. It also features a (9) speed auto-reversing fan, detachable core temperature probe, detachable hand shower, halogen lights, Automated CombiWash, USB, field reversible door, 304 stainless steel interior, door, and button. It is C, ETL-Sanitation, cETLus.
Features Of BKI CLBKI-6E
- Cook the way you want – BKI oven allows you to choose which type of chef you want to be. You can cook quickly and manually and easily fine-tune your settings. Utilize pre-programmed recipes to ensure consistent results every time. Or utilize the SmartChef feature, which automatically selects the optimum settings for an effortless cooking process.
- Field reversible door makes the combi oven the perfect fit for any kitchen.
- A large view window with cleanable dual-pane glass makes sure that the temperature on the outside of the oven door remains safe.
- Rack timing enables setting individual timers for each rack.
- Removable smoker box accessible
- Stainless steel liner
- The touchscreen control stores up to 500 recipe programs with 15 cooking steps for every program
- Warranty: One-year parts and labor
What Is Oven Combi Leasing?
In a layman’s language, oven combi leasing refers to the process of obtaining a commercial combi oven such as BKI CLBKI-6E, BKI CLBKI-10E, or even BKI CLBKI-10E-H on a rental basis. It is a great way to make sure your restaurant has the necessary equipment to keep it up and running without investing capital.
How Does Combi Oven Lease Work?
When you need BKI CLBKI-6E, but you think it is not wise to invest in it or lack sufficient capital to get it, leasing is a good idea. The equipment leasing process works the same way as a rental contract. You, the lessee, and the combi oven owner, the lessor, draft a contractual contract in which they let you use the equipment for a specific period in exchange for periodic payments. During the lease duration, the lessee can utilize the equipment as though they own it, while the lessor is not allowed to repossess it till the end of the agreement. However, in some cases, it is possible to break the lease before the end of the agreed period. Today you can lease anything. Thus, if you just started a restaurant or a restaurant with bad credit and need a combi oven, but you cannot afford it, leasing is a great idea to get the job done without compromising your business plans.
Types of Combi Oven Lease
Even though there are many kinds of leasing you can use to acquire BKI CLBKI-6E, all leases fall under the two categories below:
A Capital Lease
This type of lease is usually long and non-cancellable. Restaurants taking this option are anticipated to include it in their balance sheet as it is considered a purchase.
It is favorable for businesses that need to use commercial equipment for a long time but do not have the capital to purchase it because:
- The contract contains a bargain purchase option. Thus the lessee can opt to return or buy the combi oven at a less than fair market value after the lease period is over.
- The life of the lease is usually 75-percent greater than the equipment’s useful life.
- The owner transfers ownership rights to the lease at the end of the lease period.
An Operational Lease
This is the most popular lease. Unlike the prior, it does not affect an entity’s balance sheet. It is also short term and cancellable. You are thus allowed to cancel the agreement if you finish using the machinery before the lease period is over. However, this comes with a penalty, and you also have to issue a notice. Unlike in a capital lease, the lessor bears the risks of obsolescence. Therefore, you can always request upgrades.
Benefits Of Combi Oven Leasing
As noted, combi oven leasing comes with a host of benefits. Some of the most appealing ones include:
- Keeps your restaurant up and running by allowing you to get the needed combi oven even when you do not have sufficient capital.
- Allows you to channel your capital to your restaurant’s more pressing needs instead of investing it in costly machinery.
- Equipment leases come with some appealing tax incentives.
- Some leases offer an old-trade in option. Thus allowing you to exchange your old combi oven and get newer without having to spend too much of your capital.
How Restaurant Equipment Leasing Can improve Cash Flow For Your Restaurant?
When you need a new, costly combi oven, buying it outright can put a serious strain on your restaurants’ cash flow. Using a large section of your accessible capital means that you will no longer have access to that money when other expenses arise since they inevitably do in any business. Nonetheless, you can preserve your restaurant cash flow by using an operating lease to secure the machinery instead. Equipment leasing solutions can help you both preserve cash flow and grow your restaurant with the appliance you need.
Note that good cash flow can often be the difference between your restaurant’s success and failure. It might sound dramatic, but it is true. Many restaurants have experienced disaster because of cash flow challenges they failed to overcome. Anything you can do to boost your company’s cash flow affordably might be a good idea. At the very least, if it boosts cash flow and helps your balance sheet, it is worth consideration.
Equipment Leasing Calculator
It is a wise choice to calculate the full cost that a restaurant leasing and financing company or lender might charge you to spread out your payments when you are comparing combi oven leasing options- or any other kinds of equipment financing possibilities, for that matter.
Make sure you calculate the interest rate you are being charged and any extra fees (such as origination fee and more). Top Financial Resources has small business loan calculators that can help you better understand what you will be expected to pay overall for a restaurant equipment lease.
How To Apply For BKI CLBKI-6E Leasing?
At Top Financial Resources, we recommend lessees first research about the equipment they want to lease. You should have an idea of how much the combi oven costs, what maintenance you will need, and your application and approval process will be fast.
Next, evaluate your business qualifications. Lenders and restaurant equipment financing companies have their own requirements. To qualify for a lease at Top Financial Resources, you need a personal credit score of 600, one year in business, and $50,000 annual revenue. Note that those are the standard qualifications. We can tailor a leasing solution based on your qualifications. Whether you have a low credit score, tax lien, or bankruptcy on your credit history, or you have debts sent to collections, we can work with you.
Now you are ready to start your application. We have an online-based streamlined application system. All you have to do is provide basic information about yourself and your restaurant. Other documentation you will require include tax returns, bank statements, financial statements, and the equipment quote. After you have submitted your combi oven leasing application, you will receive approval feedback within 24 hours. At this point, you will receive a draft of the leasing contract for your review. After you have assessed and signed the contract, you pass it back on to us. We will work through the closing process and notify you after the lease is in effect. Generally, funding takes two to three days.
Our repayment agreements range from two to five years, and interest ranges from 6-percent to 30-percent based on your creditworthiness.
Leasing For Other BKI CLBKI Series Convection Ovens
Your options for equipment leasing are not limited. You can lease any combi oven you want, including:
- BKI CLBKI-10E CombiSlim Combi Oven
- BKI CLBKI-61E 61 Series Combi Oven
- BKI CLBKI-61E-FS 61 Series Combi Oven
- BKI CLBKI-6E-H Hoodini Combi Oven
- BKI CLBKI-61G 61 Series Combi Oven
- BKI CLBKI-61E-PT Pass-Through Combi Oven
- BKI CLBKI-62E 62 Series Combi Oven
- BKI CLBKI-101E 101 Series Combi Oven
- BKI CLBKI-10E-H Hoodini Combi Oven
- BKI CLBKI-10E-H Hoodini Combi Oven
Bottom Line: BKI CLBKI-6E Leasing
BKI CLBKI-6E leasing helps all sizes of restaurants to keep their operations up and running. It also allows them to work towards ownership without disrupting any of their objectives. It is mainly ideal if you intend to use the equipment temporarily. Contact us via 1-(800)-260-5126 for more information about combi oven leasing and how we might be able to help you.