Star Mfg 301HLF Leasing

Leasing is an excellent means of obtaining the Star Mfg 301HLF commercial countertop fryer since it allows you to add needed equipment right away. This indicates your restaurant can make excessive use of the latest technology and allows you to remain competitive in the industry. For the borrower, costs are spread over multiple-year term matching benefits received from the countertop fryer. In other words, the restaurant can let the equipment solution pay for itself over the duration of the loan or lease, which keeps more of your working capital liquid to fund investments like additional payroll or facility expansion.

Even for a restaurant with huge cash reserves, leasing is the right choice when accounting for equipment acquisition” off the balance sheet” is important. Moreover, preserving working capital and business credit lines, a restaurant can often receive the go-ahead to start a lease immediately even if the present capital budget does not offer sufficient cash for the countertop fryer. Let us face it- when dollars of new equipment are lacking, everybody suffers. In fact, the only people who benefit from you using a broken or outdated machine are your competitors, who will happily accept a modernization advantage. Keep reading to learn how to lease Star Mfg 301HLF.

Star Mfg 301HLF Description

Star Mfg 301HLF is built for maximum efficiency and quick product turn-around. These units come in various sizes and are designed for countertop operation for a variety of operations and locations.

Star Mfg 301HLF specifications

Star Mfg 301HLF electric fryer is constructed with a stainless steel body and has a nickel-plated steel kettle on a 530FF model or a stainless steel kettle. It uses immersion heating elements, which swing up for easy cleaning. The 301HLF has a removable stainless steel kettle for easy straining of fat/oil. It uses a snap-action thermostat that enables temperature. 

Range of 200°F (93°C) to 375°F (191°C). This model is supplied with two baskets. It also comes with an appropriate plug based on the model’s power ratings and certification qualifications. Star Mfg 301HLF is single phase and has a built-in high safety thermostat. Moreover, the Mfg 301HLF model is UL and cUL certified.

The basics of commercial countertop fryers leasing

A commercial countertop fryer lease is a contractual contract between the owner of the fryer (the lessor) and the user of the appliance (the lessee) for the right to utilize the appliance in exchange for payments made over time. Even though you might have the option to purchase the countertop fryer eventually, you do not legally own it while it is being leased. The dealer or equipment manufacturer, or leasing company, funds the lease.

Is it better for your restaurant to lease or to buy the Star Mfg 301HLF fryer?

The short answer is, it depends. It depends on if your need for the flyer is short or long-term, your available business credit line, your cash flow, and your tax situation. If you have limited capital or need Star Mfg 301HLF but intend to upgrade it in a few years, then a lease could be a better option than a purchase, which is more ideal for established restaurants. In simple words, leasing restaurant equipment for business requires less of an upfront financial commitment than buying and little to no security. It also allows you to acquire new equipment and relatively and easily dispose of equipment when it becomes obsolete.

There are tax benefits and drawbacks to commercial countertop fryers. It is always best to talk to an accountant to figure out if leasing is beneficial in your particular business situation. Generally, restaurant equipment leases can range in length from one to ten years, based on the equipment’s usage. Payments can be made quarterly, monthly, annually, or semiannually. You can also be able to obtain payment arrangements depending on your cash flow or other financial requirements.

Types of restaurant equipment leasing

Typically there are two kinds of leases: Finance Lease – Also known as a conditional sale or capital lease, requires a full payout of the equipment cost plus all remaining finance charges at the end of the lease terms. There are many types of purchase options:

  1. $1 Option: Lease payments at the end of the term completely fund the cost of the appliance and finance charges. Ownership is then transferred for a nominal $1 fee.
  2. Fixed price: The appliance is bought at the end of the lease for a fixed percentage of its initial cost, generally 5, 10, or 15 percent.
  3. Fair market price: The purchase price is the commercial countertop fryer’s fair market value at the end of the initial lease term as figured out by an independent appraiser.
  4. Prepaid: The anticipated fair market value at the end of the lease or a fixed percentage of the current equipment cost is paid upfront before the lease inception.

The second type of lease is the true lease, which does not require full payout of the appliance cost and finance charges at the end of the lease, and generally, there is no purchase option (even though some variations do allow for a fair market option). This is also known as an operating lease since you can not classify a true lease as an operating expense for tax purposes because it is technically not an owned asset.

There are tax advantages to both kinds of leases. As you might anticipate, in any tax situation, it can get sophisticated. It is always best to consult your accountant. Generally, however, a finance lease is suitable if you want to own the Star Mfg 301HLF.

Why commercial countertop fryers leasing can be a smart option?

Commercial countertop fryers leasing and financing are more than a line on your credit report: It is a smart investment in your restaurant’s future. There are many advantages to getting a restaurant equipment leasing for your restaurant today. The best equipment leases fuel growth for your restaurant without any hassle. Whether you need to finance or lease commercial equipment, Top Financial Resources can help you get the right financing solution for your restaurant and enjoy the following benefits:

  • You get the countertop fryer you need, at the terms you want: and other traditional lenders have many restrictions, and if the equipment is used, they might not finance or fund the lease. Top Financial Resources has no such limitations. Besides, we provide the terms you are looking for on both new or used commercial countertop fryers.
  • There are no end-of-lease surprises: You can get a guaranteed purchase option without any surprising charges.
  • Because we provide the financing, your cash flow is improved: As you can see, we will provide leasing and financing in cases where restaurants thought it was impossible. Your cash is not tied up; rather, it is accessible for other business-growing endeavors.
  • The application process is simple: You provide some really straightforward information to get started. You do not need to have to find a bunch of staff to get started.
  • Your data is safe. At Top Financial Resources, customer data is protected at all times. Our system protects your information while we provide you with the funds you need.

Picking a restaurant equipment leasing company

Ideally, you should make sure you work with a company that understands your firm as well as the type of equipment you are looking to use. Under your contract, the lessor will have to set a value for the asset, so they should understand the restaurant industry standards. Ensure their leasing terms and fees are clear, so you know exactly what your restaurant will pay, both during the agreement and at the end. You should also negotiate responsibilities such as repair and maintenance.

Note that with a traditional lender, you usually have to wait weeks for your lease application process. And if you are approved, you will possibly wait another several weeks for your loan funds to come through. Thus it is good to seek financing from alternative lenders such as Top Financial Resources. Top Financial Resources is an alternative lender, which indicates we work with you, the small restaurant owner. Our procedure works to reduce the amount of time it takes to assess your small restaurant lease application.

When you apply for a lease, our team reviews it rather than sending it to a third party. We will help you find the right leasing or financing for your restaurant. If approved, we will get your funds to you fast in as few as 24 hours. We pride ourselves on giving you a fast lease decision on your application. When it comes to providing leasing to restaurants with bad credit, we understand that your business is more than your credit rating; however, sometimes, it seems like many traditional lenders do not see it this way. We have financing and leasing programs for bad credit so you can fund the things your restaurant needs and improve your credit to help you get better terms in the future.

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