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Lease Equipment

Written by: Start Your Business

Article Overview: Sometimes leasing equipment, instead of buying it, can be the best option for your business. However, there are many variables that should be considered, including costs, use restrictions, legal parameters, and others.

Lease Equipment

Sometimes leasing equipment, instead of buying it, can be the best option for your business. However, there are many variables that should be considered, including costs, use restrictions, legal parameters, and others.

Should You Buy Or Lease Your Equipment?

* Leasing operating equipment, such as computers, vehicles, and machinery, often makes more sense than buying. However, while favorable leases are often good bets, unfavorable ones can easily sink an emerging venture. While doing your legal homework can help prevent bad deals, it's always a good idea to have a lawyer look over a lease before signing it. Investigate the Buying vs. Leasing issue.
* Is your lease likely to be deemed a purchase for tax purposes by the IRS? If so, leasing may not give you a tax advantage. If not, you may be able to deduct payments on the leased equipment. Here are some IRS Guidelines.

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Related Forum Posts
Equipment leasing - Equipment leasing has many benefits, such as tax benefits, conserving money and always having up to date equipment to stay competative to name a few. Obviously, it's partially dependent upon what type of business you have as to whether you will benefit more than someone else but... Do you think it's worth leasing your equipment rather than purchasing it? Can you think of any other reasons you can benefit from it or any reasons this is not a good idea?
The best time to open a new business - I agree. It depends on the business. However, in some cases there are ways around that if you allow yourself to open up to possibilities and get creative. For example, my husband and I are in the process of beginning a sport's store. We live in a touristy community with a lot of winter sports. There are summer sports here as well, but the winter appears to be the most lucrative. We planned on things coming together in order to take advantage of the winter sport's season, but our ideal lease space was held up by circumstances beyond our control. We are still not in. Lease space is minimal so we have some decisions to make. We could either delay everything until Fall or get very creative around our marketing for the warmer weather sports and start right away. We chose to open up to the possibility that there must be a way to succeed in the off season. Because we chose to think positively and look for solutions that fit what we want to do, all sorts of ideas started coming to us. We are now positive we have a plan that will succeed. So, the answer really depends on the business and your willingness to open up to new creative ideas around it.
I am looking for a Mentor who is a Successful Restauranteur - Hi Evans, An idea for a forum that would be niche focused. My goal is wanting to acquire the expertise of running a highly successful restaurant. Like building any great business I think it would be great if there was One Umbrella resource underwhich I could find a highly successful restauranteur who would be willing to be a Mentor for building a successful restaurant business. A lawyer who understands business and specializes in the restaurant industry and more importantly who would not charge by the hour, But instead on as per completion of a contract basis. A competent CPA/CA who specializes in restaurants and who would be able to offer the right advice in maximzing revenues within the confines of legal parameters. A competent commercial real estate agent who specializes in restaurants and who would assist and advise on acquiring the right locations and also assist in negotiating the Term of Offer Clauses in the Lease Agreement. A competent Tax professional who would advise on maximizing revenues within the confines of legal parameters.
Small Business Seminar Presenters Required Across Canada - In March 2007 BizLaunch we will start presenting small business seminars across Canada. I am in the process of recruiting experienced business owners with good presentation skills and a passion for small business to present these seminars. 1. The seminars will be 90 minutes long 2. The seminars will start at 6.30pm 3. The seminars will be held in convenient locations 4. The subjects will include business planning, marketing, sales, website marketing, taxes etc. 5. The audience will be new business owners(0 - 5 years) 6. The presenters will be supplied with the presentation slides required 7. The seminars will be free to small business owners attending 8. Presenters will be evaluated on their presentation by the audience 9. Equipment will be supplied by BizLaunch 10. Presenters will be compensated for the presentations $250 per seminar 11. Seminar marketing will be done by BizLaunch and its partners 12. These seminars will be a great addition to what is already being offered to small business If you're interested send me one page about yourself and why I should use you to andrew@bizlaunch.ca
Re: The best time to open a new business - [quote="Tami Szabo":1209ledj]I agree. It depends on the business. However, in some cases there are ways around that if you allow yourself to open up to possibilities and get creative. For example, my husband and I are in the process of beginning a sport's store. We live in a touristy community with a lot of winter sports. There are summer sports here as well, but the winter appears to be the most lucrative. We planned on things coming together in order to take advantage of the winter sport's season, but our ideal lease space was held up by circumstances beyond our control. We are still not in. Lease space is minimal so we have some decisions to make. We could either delay everything until Fall or get very creative around our marketing for the warmer weather sports and start right away. We chose to open up to the possibility that there must be a way to succeed in the off season. Because we chose to think positively and look for solutions that fit what we want to do, all sorts of ideas started coming to us. We are now positive we have a plan that will succeed. So, the answer really depends on the business and your willingness to open up to new creative ideas around it.[/quote:1209ledj] Hi Tami, I fully agree with your point of view. For instance, when I was doing research on my potential tennis shop idea, the Prince Tennis sales rep I spoke with was telling me how I would need to diversify my product line with more than just "tennis stuff". He suggested that I expand my product offering by also selling other "in-door" sport equipment for things like badminton, squash, volleyball and soccer in order to survive the winter months.


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