Leasing equipment can help salons to manage their cash flow and budgeting. It allows them to acquire the equipment they need and pay for it while earning money from it at the same time. This method is becoming more and and more popular in the hair salon and barber industry every day!
Benefits of Leasing
There are tax benefits to the salon as all payments made under a lease agreement reduce the taxable profit of the business by 100% of the charges – effectively reducing the net cost of the leasing package to the end user.
Leasing can also help salons to protect and reserve other lines of credit (such as loans and overdrafts) and offers a viable, cost effective alternative to these funding methods.
It also allows you to choose the perfect equipment and furniture for your individual salon instead of compromising on something to suit your budget.
You can keep more of your profit within the business and support future growth.
You are the owner of the furniture when you reach the end of the agreed time-frame.