An ice machine lease works in much the same way as a vehicle lease. You pay a much lower monthly payment than if you were to purchase, then at the end of the term you have the option to buy. There are many benefits to leasing.
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An ice machine lease program is the best option for many people because they get top of the line equipment at an affordable price. These ice machines can fit any industry you’re in, including manufacturing and industrial, medical facilities, offices, schools/colleges, retail locations, hotels/motels/inns/resorts, restaurants/bars, and gyms/health clubs/spas. They can also serve anywhere from one person to more than 150 a day.
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A Guide To Leasing Ice Makers
Keeping up with your business’ ice supply doesn’t have to require a huge expense. Consider an ice machine lease instead of buying your ice machine.
Right now, there are more than 660,000 restaurants in the U.S. Some people call this a “golden age of restaurants.” Foodie culture is trending, and there’s room for countless new restaurants from fast-casual to upscale dining.
However, if you decide to cash in on the restaurant boom, you might experience some sticker shock when it comes to choosing equipment. In addition to funding your space, hiring staff, and creating a menu, you also need to have certain industrial equipment on hand for a new or growing restaurant.
It might help to know that you can actually lease some of your equipment. An ice machine lease can be a great way to grow your restaurant (or bar or hotel) without breaking the bank. Wondering how it all works? Let’s take a closer look!
What Is an Ice Machine Lease?
An ice machine lease offers a way to get a commercial ice machine without making a large upfront purchase. It’s kind of like leasing a car. Instead of making one big payment, you get to make smaller, more manageable monthly payments.
You can choose from a few different lease terms, so you’ll have a leasing situation that works well for your needs. Most leases run for up to five years maximum. The shorter the lease, the less interest you’ll have to pay. However, with a short lease, you might pay higher monthly installments.
Leases let you give an ice machine a try before you decide to invest in it. This can help you choose the best machine for your establishment’s needs. It also doesn’t take the same big hit to your monthly profits that a one-time ice machine purchase does. For many establishments, this is the most affordable option.
Can I Lease to Own My Commercial Ice Machine?
An ice machine lease doesn’t mean you’ll never get to own the machine. In fact, many ice maker rental agreements also have a “lease to own” option.
Like the lease terms, the amount of your buyout can also vary. Sometimes, you may be able to buy your ice maker for as little as one dollar when your lease is up. And if you decide not to buy that machine at the end of the term, you can try leasing a different one instead.
What Are the Benefits of Leasing Ice Makers?
Not convinced about ice machine rental yet? Let’s take a look at some of the positive ways this option might impact your business.
1. Make a Smart Investment
Ice machines naturally don’t last a long time. If you buy a new one, you may find yourself spending more on the machine than it’s worth. But if you lease a machine that doesn’t last, you’re not on the hook for the whole sticker price.
You need free capital for many other costs of running a business. If you also have to buy a new ice machine, you can find yourself running on a tight budget for a while. This makes it hard to keep up with inventory, payroll, and other essential costs.
If you’re a new business, the capital squeeze is especially tight. It takes time for a new business to become profitable, and even longer for those profits to grow high. Don’t make a tight financial situation even tighter by buying new equipment when you don’t have to.
3. Avoid Fees
If you’re already a customer at a company, they might be willing to waive monthly lease fees when you lease their products. These incentives make leasing an ice maker even more appealing.
4. Upgrade Regularly
As your company grows, you might find that you need bigger, better machines. A lease makes those upgrades easy.
If you buy a new machine, it can be difficult to justify the cost of an upgrade, even if you need one. But you can often upgrade before your lease is over, adding more flexibility for company growth.
5. Save on Repairs
In a business setting, equipment gets lots of use and tends to break down from time to time.
It can get expensive to always pay for repairs for the equipment you own. These unexpected repair costs can completely throw off your budget. But if you’re leasing your ice machine, the cost of repairs is included in your monthly lease payment.
In fact, cleaning, new parts, new filters, and repairs might all be covered, so you won’t get hit with any surprise maintenance bills.
6. Improve Business Credit
Taking out a lease is a great way to grow better business credit. In fact, equipment leases are faster than bank loans or credit cards for building credit. Sometimes, you’ll even get tax breaks for your equipment leases.
The cost of an ice machine lease depends on the company you lease from, and the kind of machine you lease.
It’s always a good idea to contact the company and request a quote, so you can see exactly how much the lease will cost. However, you can count on the lease costing far less than a new ice machine, which can run up to thousands of dollars.
What Are the Best Ice Maker Lease Companies?
Wondering how to choose the right company to get your ice machine lease from?
The best companies to lease from will specialize in a certain kind of equipment. You should lease your ice machine from a brand that specializes in ice machine leasing since they’ll be the most knowledgeable about the equipment.
You should also check the brand’s website. The more information they make readily available, the more trustworthy the brand is. And if you have any questions about pricing or models, the company should be easy to contact.
Ice Maker Depot is one such company. We’ve got all the information you need to help you decide which lease is right for you — check out our guide to the best commercial ice machines here.