Owning and operating a garage is one of those businesses that will always require significant running costs due to the specialist equipment that is required. Every piece of machinery is an investment, and many of those investments are absolutely necessary in order to run the garage in the first place.
So how can a garage owner ensure they always have enough working equipment to keep the business operational? The key is asset finance.
The garage equipment finance package offered by Prolease is specifically tailored to the garage business, with the payment options available allowing garage owners to upgrade or acquire new equipment as and when necessary to meet customer demand and continue growing the business.
How to Ease the Financial Burden
By acquiring new equipment using a Lease Finance contract, you can pay for the necessary investment gradually in smaller and much more manageable chunks. Spreading the cost out over a period of time allows the business to keep on top of the game, perhaps even expand, without taking the blow of a massive cash expenditure all in one go.
Once installed and operational, the new equipment will begin generating increased profits which will ultimately pay for the new machinery itself. Consider the increase in profits that an extra MOT lane will bring in, or the increase in performance that a new handheld diagnostic tool will produce. The increase in revenue should more than cover the payments for the new equipment, meaning the business can continue expanding without any extra significantly noticeable outgoings (aside from the usual operational costs of running the business).
Prolease Provide Investment Opportunities
Due to the large number of sole traders and partnerships in this sector, garage equipment finance deals are usually of the Lease Finance variety. This means that the garage equipment finance deals offered by asset finance specialists Prolease will be secured on the asset itself.
Prolease also operates in conjunction with a variety of different leasing sources and banks, which makes multiple lines of credit available to your business. Another benefit of this is that the asset finance deals your garage business can make with Prolease will not affect any of your other banking facilities such as overdrafts or loans, which is especially important if you use these for working capital.
Additional Benefits of Garage Equipment Finance
By taking advantage of the extensive leasing and funding sources made available by Prolease, your garage can acquire many different types of equipment whenever necessary. Whether your business is just starting out or you are looking to expand or meet a spike in demand, there are finance deals which can help you.
At the very least, upgrading to the latest technology will enable your business to remain on terms with competitors, if not steal a march on them. The fixed payments attributed to lease agreements will also remain unaffected by any changes in interest rates, which is not the case with standard bank loans. There are also certain tax advantages to be gained by using asset finance.
If you would like to learn more about the benefits of garage equipment finance, contact Prolease Finance and discuss your business needs with our friendly and personal team of asset finance experts.