When looking for salon equipment, you’re looking at several things: appearance, costs, and features. Once you’ve figured out what fits your budget and aesthetic, the following steps include budgeting and purchasing. But when it comes to beauty salon equipment, should you rent, buy, or finance? In this article, you’ll explore the benefits of each option to help facilitate your decision-making.
Benefits of Renting
Renting beauty salon equipment is common among business owners who are working with a limited budget. Although rentals are not for everyone, leasing equipment can benefit small businesses in more ways than one you would think, including:
- There is no need to worry about paying for furniture upfront, as a monthly payment allows you to pay off expenses over time.
- Low maintenance costs.
- You can replace or upgrade equipment in between contracts.
- Payments can qualify as tax deductibles.
Benefits of Buying
Buying salon equipment is considered the most cost-effective option, as transactions are quick and final. Other benefits include:
- Once you purchase equipment, it’s yours to keep, and you maintain all selling rights.
- If you’re moving locations, you can sell equipment without repercussion.
- You won’t have to worry about making additional payments, allowing you to focus on other areas of your salon.
Benefits of Financing
When financing your salon, you can choose to apply for a lease-to-own program. Some of these programs do not limit how much you buy, so you have the freedom to acquire all the furniture and tools you need. Most of these finance options come with some benefits, including:
- Flexible Plans: With flexible payment options, you can accommodate payments and terms to what’s comfortable for your budget.
- Save Money: Having an accommodating payment plan allows you to save money and allocate funds toward different areas of your business.
- Tax Deductible: Your lease payment could be eligible as a tax deductible.
So, if you’re thinking about renting, buying, or financing beauty salon equipment, your final decision comes down to your budget. If your budget is limited, you might want to consider renting or financing, as these options involve monthly payments that accommodate any budget. However, if you have more freedom within your expenses, buying your equipment is your best bet.
For all your furnishing needs, consider browsing our website at Salon Equipment Center! We supply discount salon equipment with a gracious three or five-year warranty that will fit your salon’s vision.