Debunking Restaurant Failure Myths - Restaurant Equipment Leasing Company LeaseQ Helps Restaurants Beat the Odds and Prosper
Boston, MA (PRWEB) November 08, 2013 -- It doesn’t take a nuclear physicist to see that there is uncertainty in the universe. Restaurant owners know this kind of uncertainty. Although the commonly held myth that “90% of restaurants fail during the first year of operation” has been refuted in recent studies, the reality that a more pedestrian 25%, success rate in the restaurant business is nonetheless an enormous challenge. When the trends are extrapolated over a three-year period, studies now indicate that restaurant failure rates increase to a hefty 60%. Although a far cry from the “90% myth”, restaurant owners certainly have a challenging road ahead when they start their ventures.
For more information on restaurant equipment leasing, visit: https://www.leaseq.com/restaurant-equipment-leasing.
The National Restaurant Association estimates that the restaurant sales in 2013 will top $660 billion spread over 980,000 restaurants in the United States. This represents a 4% share of the US gross domestic product and a 3.8% increase over 2012. Although there are billions of dollars being spent in restaurants each year – as the above statistics indicate, success for a restaurant owner is anything but assured. In fact, a great deal of the success of a restaurant is contingent upon these establishments acquiring the commercial kitchen equipment they need to be able to operate efficiently and profitably.
The Nightmare of Restaurant Failure Resolved?
One of the biggest causes of restaurant failure, or at the very least causing a big delay in restaurant success, is not having enough capital to get through the startup phase. Without adequate funding and adequate cash flow, the dream of success for many restaurateurs is far too often turned into a nightmare of failure.
With equipment as one of the largest expenses in starting a restaurant, smart restaurant owners are turning to restaurant equipment leasing in increasing numbers to reduce capital expenditures and save cash. Commercial restaurant equipment leasing now plays a pivotal role when it comes to helping restaurants provide the most effective and efficient kitchen and serving operations. Restaurant and kitchen equipment leasing allows a restaurant owner to have access to a wide array of equipment, as well as being able to upgrade to newer technology as it becomes available. Restaurant equipment leasing also means less cash up front, which frees capital for other projects such as expansion, new menu items, or the hiring of additional staff.
The Many Benefits of Restaurant Equipment Leasing
Fortunately for restaurant owners, the online comparison shopping platform at LeaseQ is helping to reverse the discouraging restaurant failure trends by offering quick and easy restaurant equipment leasing and financing. As one of the most innovative leasing breakthroughs in recent history, LeaseQ’s One Touch Lease Platform factors in a restaurant owner’s true FICO score and the restaurant’s actual credit score into its calculations – using a powerful underwriting engine which is supported by the lenders themselves. Combined with a soft credit pull, LeaseQ can run real-time business credit scores and financial qualifications with zero impact to a business owner’s credit rating – making the LeaseQ One Touch Lease Platform and extremely powerful way for businesses to acquire the equipment they need fast as possible.
Restaurants who rely upon equipment leasing and financing to sustain and grow their businesses are now rapidly partnering with LeaseQ. With LeaseQ’s ability to work with a broad range of financial services partners, equipment manufacturers and business borrowers, the advantage to an equipment dealer is almost too great to resist. The LeaseQ One Touch lease platform enables businesses to immediately determine which leasing rates and plans they qualify for from leading finance companies – a huge advantage for any equipment manufacturer or dealer.
And for the restaurant owner, it’s easy to compare the best rates and terms that best fit their needs and budget. With the entire process taking only two minutes - this offers a significant time-saving advantage over traditional leasing processes offered by the majority of leasing and financing institutions.
About LeaseQ
Since its launch in late 2012, LeaseQ has quickly become the largest online network of equipment dealers and equipment finance companies - assisting businesses of all types to quickly acquire the equipment they need at the rates and terms best suited for their needs.
Based in Woburn MA, LeaseQ is one of the leading providers of equipment leasing and financing options in the country. Visit them online at LeaseQ.com.
Vernon Tirey, LeaseQ.com, +1 (781) 346-3838, [email protected]
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