A lot of individuals who are using tanning beds or running tanning salons are leasing tanning beds for their individual use or for their businesses. Why are they leasing their equipment? Leasing tanning beds for your home or your business can be a great move for your finances.
Whether your business is a sole proprietorship, a partnership or part of a larger group of companies, leasing your equipment is a smart choice. Leasing provides you with the high quality equipment needed to run and manage your business successfully, together with the flexibility of your choice of payments.
Equipment lease plans usually include the equipment itself, taxes, installation, freight, warranties and training for the staff.
Leasing frees up your capital while presenting an added benefit of significant amounts of savings when it comes to taxes since the monthly expenses covering the payments for leases are considered as operating expenses for the business.
There are other benefits to leasing tanning beds for your business or home use.
Benefits of tanning bed leasing
The payments made on your lease may actually be fully deductible. Consult your financial adviser to ascertain the most tax beneficial type of lease plan for your company.
Some companies offer 100% financing for leases without the burden of down payments.
You have the faculty to arrange for flexible terms over a long period of time, allowing for low payments per month. You can choose the type of terms and conditions to fit your specific needs.
With equipment leasing, you can conserve or free up your company’s capital and preserve your credit. Leasing also offers the advantage of an additional line for credit without typing up your source of capital.
Leasing also has the advantage of fixed payments. There will be no hassles in computing for fluctuating values of interest and additional payments to cover the floating interest.
Leasing the equipment for your tanning salon business also offers many rewards for limited liability corporations.
When your lease reaches the end of its term, some companies that offer lease programs might give you the option of selecting a fair market value and consider a buyout option.
Leasing equipment allows you to avoid having any of your equipment from becoming obsolete. Leasing provides for the option of installing new equipment at the end of your lease term.
Ideal for small or startup businesses
Companies that offer leasing for tanning beds can also give special considerations for those who are just starting up on their tanning salon business. Your debt ratio will also remain unaffected since leases typically don’t appear on balance sheets.
Leasing offers a fixed payment per month which allows you to manage your money better by enabling you to set aside a fixed budget for your equipment needs in the future.
When leasing, you get to work with financial advisors to help you design your finance program to fit your specific demands and needs.
Leasing tanning beds is an easy process
All you have to do is fill out the application forms and submit the completed form to the leasing company. Most companies will keep your credit profile on file for future leases to eliminate the need for any additional paperwork. They can also customize your lease program to fit your business’ requirements and allow it to fit your specific situation.
When choosing a lease program, gather all the information you can and consider all your options carefully. Consider the differences in the deductions between loans and lease plans.
Find a way to maximize your business’ possible deductions for every term of lease you get. This way, you make sure that your business wins.