Consumers and business owners alike understand that it’s imperative to keep a hotel, bar or restaurant looking its absolute best in order to gain repeat custom, receive recommendations, and keep the food and drinks flowing. In the digital age we currently live in, it’s even more important to ensure that the interior of an establishment is well kept, as a poor review mentioning ‘shabby’ (minus the chic), ‘tired’ or ‘outdated’ furniture can be catastrophic. Returning from comments such as this can be a struggle, for both small and large businesses, as reputation is key.
So, you are faced with a number of considerations; the need to keep your establishment and furnishings in excellent condition, whilst keeping up with the latest trends, all while having the available funds to invest in a refurbishment project. What do you do?
The answer is simple, contract furniture leasing. In this fast-paced, competitive world where it’s so easy to fall behind, leasing contract furniture is a fantastic and sustainable solution that both independent hotels and restaurants can benefit from.
Here are some of the reasons why contract furniture hire could make a positive impact to your hotel, restaurant or bar:
1. Spread the Cost of Hiring Furniture
High-quality contract furniture is not cheap. Choosing cheap alternatives is a false economy as you will only find yourself with tired looking furniture that will need replacing much quicker than you had bargained for.
By leasing, you are able to spread the cost, obtain excellent high-quality and purpose-built furniture at your finger-tips.
2. Conserve Capital Through Contract Furniture Hire
Spreading the cost creates an immediate cash flow benefit. Furniture leasing rather than paying out a large sum of money at once means you can conserve your capital for unavoidable expenses that may crop up, which gives peace of mind that these unpredictable costs are taken care of.
3. No Need to Wait, Get it Now - Quick Delivery of Contract Furniture
Are you putting off refurbishing your establishment due to the cost? There is no need to put off your refurbishment any longer, hiring furniture means you don’t have to wait for next year’s budget, you can have your new contract furniture delivered now. By deferring payments for up to six months you can enjoy the benefits of new furniture today. Also, by entering into a leasing agreement rather than utilising loans or overdraft facilities, these other lines of credit remain available, should you need them for other expenses.
4. Leasing Furniture to Keep up With the Latest Design Trends
As with everything in life, styles work in cycles, trends come and go, and the same can be said for interiors. We live in a digital age, where a quick snap of a restaurant or hotel on Instagram can go viral and increase footfall tenfold. This is the reason why keeping up to date with the latest design trends can be crucial for some hospitality establishments. By choosing furniture leasing you are able to update your furniture more frequently, before it starts showing excessive signs of wear and can be adjusted to stay in line with trends. Contract furniture hire can allow you to be that local venue that is consistently fresh and on trend.
5. Set Monthly Payments for Your Contract Furniture Hire
While many outgoings and costs can vary with monthly payments, the charges will be outlined in your leasing agreement for your contract furniture leasing, ensuring that you will always know exactly what your monthly cost will be. By entering into a fixed term agreement, you can be certain that you won’t receive any unexpected bills, even if the bank rates fluctuate, you will pay the agreed fixed amount for the duration of your term.
6. Happy Stakeholders - Hiring Furniture Equals ROI
Not only is leasing furniture a benefit to you, but can also benefit your investors, directors and stakeholders. You are able to demonstrate a return on your investment (ROI) from the very beginning, as the furniture within your establishment is paid for regularly. Happy stakeholders and happy customers mean a happy you!
7. Payments Tailored to You
Seasonality is a huge factor in the hospitality sector, so when you’re organising leasing contract furniture it’s an important thing to consider. Terms can be adjusted in line with busier or quieter times of revenue for your business, and seasonal repayment holidays can be incorporated in line with your income profile.
8. Tax Benefits of Furniture Leasing
The payments you make as part of your lease agreement for your contract furniture are 100% allowable expenses, reducing your taxable profit.
So, whether your hotel, bar or restaurant needs a full refurbishment, freshening up or modernising, opting to lease restaurant furniture or other contract furniture may well be the best decision you make.
Contact us to discuss your contract furniture requirements, chat to our friendly team who would be happy to discuss your options of furniture leasing for your hotel, bar or restaurant.