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Suggest You - 7 Advantages to Leasing Equipment for Your Cleaning Business
If you want to start a successful home business, keep in mind that it is not unlike any other business. In order to become successful YOU will need a system and ultimately YOU will be required to follow it!There are so many opportunities to consider, and it can be tempting to take a look at a number of other systems because you think that it may be easier or faster than what you are already doing. But don’t, you could be making a big mistake! The last thing that you want to do is become distracted. You want to find a system that works and then
Before Leasing:
1. How am I planning to use this equipment?
2. Does the leasing representative understand my business and how this transaction helps me to do business?
During
3. What is the total lease payment and are there any other costs that I could incur before the lease ends?
4. What happens if I want to change this lease or end the lease early?
5. How am I responsible if the equipment is damaged or destroyed?
6. What are my obligations for the equipment (such as insurance, taxes and maintenance) during the lease?
7. Can I upgrade the equipment or add e
Last week my husband and I attended an awesome 4 day work conference! I decided to sit in on both days of business presentations hoping there would be a nugget or two I could share with you.Presenting to an audience of 100 to 300 top producers were executives of a large company. While overall the presentations were good, three pet peeves of mine were running wild at times. I bring them to your attention in hopes that you won't hold your audiences of any size, whether 3 or 3,000, hostage to these presentation blunders, my top pet pee
What is a lease? A lease is an agreement in which you have the use of a piece of equipment, but you do not own it. The user (the lessee) makes payments to the owner of the equipment (the lessor). Leasing has become a common business practice. The U.S. Small Business Administration (SBA) reports that equipment leasing has risen about 20 percent over the past two years. And, according to the Equipment Leasing Association, 8 out of 10 U.S. businesses lease all or part of their equipment.
There are several advantages to leasing equipment:
1. Leasing is flexible. As your business grows your needs may change. Leasing allows you to add or upgrade equipment. Lease terms vary from 12 months to 60 months. You may even be able to upgrade your equipment during the original lease period.
2. Capital conservation. In today's financial environment, you can lease equipment with little or even no money down. If you have to borrow money to buy a piece of equipment you may have to put money down that you could have used in other areas of your business, such as marketing or wages. Leases generally require little or no down payment so it is likely you may be able to get more equipment or higher quality equipment than you could by buying.
3. Fixed predictable payments. When structuring the payments of a lease, look for fixed, monthly payments. This will protect you against rising interest rates and help you to project your cash flow outlays.
4. Leasing is cost-effective. Equipment in itself is costly and can also incur unexpected breakdown or repair costs. Most leased equipment is maintained and repaired by the owner of the equipment.
5. Tax advantages. Operating leases are generally 100 percent tax deductible as a business expense and are paid out of pre-tax earnings instead of after-tax profits.
6. Not having to deal with obsolete equipment. In today's business society, manufacturers constantly upgrade equipment and add new features. By leasing you can always be using the most up-to-date equipment. You also are relieved of the problem of getting rid of an outdated piece of equipment.
7. Convenience. Applying for a lease is generally easier than applying for a loan. Loans generally require large amounts of paperwork and copies of financial reports or tax returns. A lease agreement typically involves a brief application form and may not require supporting financial documents.
Before leasing, go through the following list of questions from the Equipment Leasing Association:
Before Leasing:
1. How am I planning to use this equipment?
2. Does the leasing representative understand my business and how this transaction helps me to do business?
During
3. What is the total lease payment and are there any other costs that I could incur before the lease ends?
4. What happens if I want to change this lease or end the lease early?
5. How am I responsible if the equipment is damaged or destroyed?
6. What are my obligations for the equipment (such as insurance, taxes and maintenance) during the lease?
7. Can I upgrade the equipment or add eq
5 Easy Ways to Boost Business ProfitabilityI hear it almost everyday, "Sherese, can you help me come up with some great ideas to make more money?" Making more money is wonderful, but what about making a profit? Maybe this is what entrepreneurs are really thinking but the word profit is not used very often so I'm not convinced. It's time to change your mindset from making money to making profits! Listed below are some quick ways to boost your profitability which will definitely lead to more money.1. Set the Right Price<
There are several advantages to leasing equipment:
1. Leasing is flexible. As your business grows your needs may change. Leasing allows you to add or upgrade equipment. Lease terms vary from 12 months to 60 months. You may even be able to upgrade your equipment during the original lease period.
2. Capital conservation. In today's financial environment, you can lease equipment with little or even no money down. If you have to borrow money to buy a piece of equipment you may have to put money down that you could have used in other areas of your business, such as marketing or wages. Leases generally require little or no down payment so it is likely you may be able to get more equipment or higher quality equipment than you could by buying.
3. Fixed predictable payments. When structuring the payments of a lease, look for fixed, monthly payments. This will protect you against rising interest rates and help you to project your cash flow outlays.
4. Leasing is cost-effective. Equipment in itself is costly and can also incur unexpected breakdown or repair costs. Most leased equipment is maintained and repaired by the owner of the equipment.
5. Tax advantages. Operating leases are generally 100 percent tax deductible as a business expense and are paid out of pre-tax earnings instead of after-tax profits.
6. Not having to deal with obsolete equipment. In today's business society, manufacturers constantly upgrade equipment and add new features. By leasing you can always be using the most up-to-date equipment. You also are relieved of the problem of getting rid of an outdated piece of equipment.
7. Convenience. Applying for a lease is generally easier than applying for a loan. Loans generally require large amounts of paperwork and copies of financial reports or tax returns. A lease agreement typically involves a brief application form and may not require supporting financial documents.
Before leasing, go through the following list of questions from the Equipment Leasing Association:
Before Leasing:
1. How am I planning to use this equipment?
2. Does the leasing representative understand my business and how this transaction helps me to do business?
During
3. What is the total lease payment and are there any other costs that I could incur before the lease ends?
4. What happens if I want to change this lease or end the lease early?
5. How am I responsible if the equipment is damaged or destroyed?
6. What are my obligations for the equipment (such as insurance, taxes and maintenance) during the lease?
7. Can I upgrade the equipment or add e
Many consultants and business owners of today’s Small Business IT companies understand the importance of growing quality relationships with their client base however it is equally important to create strong relationships with your vendors and other partners. A successful, positive relationship with vendors and partners is just as critical as obtaining quality clients to today’s Small Business computer consulting firm.Why is it important to master the “vendor factor?” Vendors and partners can become a lifeline to your small business consulting
3. Fixed predictable payments. When structuring the payments of a lease, look for fixed, monthly payments. This will protect you against rising interest rates and help you to project your cash flow outlays.
4. Leasing is cost-effective. Equipment in itself is costly and can also incur unexpected breakdown or repair costs. Most leased equipment is maintained and repaired by the owner of the equipment.
5. Tax advantages. Operating leases are generally 100 percent tax deductible as a business expense and are paid out of pre-tax earnings instead of after-tax profits.
6. Not having to deal with obsolete equipment. In today's business society, manufacturers constantly upgrade equipment and add new features. By leasing you can always be using the most up-to-date equipment. You also are relieved of the problem of getting rid of an outdated piece of equipment.
7. Convenience. Applying for a lease is generally easier than applying for a loan. Loans generally require large amounts of paperwork and copies of financial reports or tax returns. A lease agreement typically involves a brief application form and may not require supporting financial documents.
Before leasing, go through the following list of questions from the Equipment Leasing Association:
Before Leasing:
1. How am I planning to use this equipment?
2. Does the leasing representative understand my business and how this transaction helps me to do business?
During
3. What is the total lease payment and are there any other costs that I could incur before the lease ends?
4. What happens if I want to change this lease or end the lease early?
5. How am I responsible if the equipment is damaged or destroyed?
6. What are my obligations for the equipment (such as insurance, taxes and maintenance) during the lease?
7. Can I upgrade the equipment or add e
If you as a small business owner have a web site and need to deal on a regular basis with a web hosting provider, web development company or a web site design vendor, you may have experienced less than stellar customer service. During the last week, I have engaged in 5 very long detailed conversations about the poor customer service being delivered by web developers and web site hosting companies. All of these conversations shared exactly the same complaints and what’s even more interesting in the exact same order.Complaint #1: Poor communicat
6. Not having to deal with obsolete equipment. In today's business society, manufacturers constantly upgrade equipment and add new features. By leasing you can always be using the most up-to-date equipment. You also are relieved of the problem of getting rid of an outdated piece of equipment.
7. Convenience. Applying for a lease is generally easier than applying for a loan. Loans generally require large amounts of paperwork and copies of financial reports or tax returns. A lease agreement typically involves a brief application form and may not require supporting financial documents.
Before leasing, go through the following list of questions from the Equipment Leasing Association:
Before Leasing:
1. How am I planning to use this equipment?
2. Does the leasing representative understand my business and how this transaction helps me to do business?
During
3. What is the total lease payment and are there any other costs that I could incur before the lease ends?
4. What happens if I want to change this lease or end the lease early?
5. How am I responsible if the equipment is damaged or destroyed?
6. What are my obligations for the equipment (such as insurance, taxes and maintenance) during the lease?
7. Can I upgrade the equipment or add e
As a manager you have a juggling act to perform, one which balances different points of view, and often requires considerable diplomacy.Classically these are the viewpoints of:• Yourself• The organisation• Your department (or division, section)• Your people• External contacts (e.g. customers or suppliers)Sometimes (regularly?) conflicts arise: something is right for the department and the people, but not for either the organisation or you. On occasions you will find yourself disagreeing with a company p
Before Leasing:
1. How am I planning to use this equipment?
2. Does the leasing representative understand my business and how this transaction helps me to do business?
During
3. What is the total lease payment and are there any other costs that I could incur before the lease ends?
4. What happens if I want to change this lease or end the lease early?
5. How am I responsible if the equipment is damaged or destroyed?
6. What are my obligations for the equipment (such as insurance, taxes and maintenance) during the lease?
7. Can I upgrade the equipment or add equipment under this lease?
After
8. What are my options at the end of the lease?
9. What are the procedures I must follow if I choose to return the equipment?
10. Are there any extra costs at the end of the lease?
When leasing equipment it is important to understand the terms of the lease. Getting answers to the above questions will help you get all the information you need about your lease and avoid surprises or hidden costs after you sign the lease.
With leasing you do not own the equipment, but your cleaning business has the advantage of using the latest equipment and staying on top of technological advances. With the many benefits of leasing, it may be a better choice for your company than the outright purchase of an expensive machine.
If you would like to compare the costs of buying as opposed to leasing, use the "Buy or Lease Calculator" found here.
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