Investing in a high-quality commercial refrigeration unit is crucial for those in the food or catering industry. These days, renting commercial freezer and commercial fridge rental are good options especially if your budget is limited. But even well-established restaurants and food businesses, often prefer renting a commercial fridge and freezer over buying a new one because of the many benefits.
If you’re just starting to build your business and you are still undecided about whether to choose between a commercial freezer rental and commercial fridge rental or buy a new one, then comparing the costs between renting and buying can be very helpful. In fact, comparing their costs may be the strongest factor in coming up with the best outcome for your business and cash flow.
I have come up with some important steps to consider when comparing the costs of renting versus buying:
Step 1: The Commercial Refrigeration Unit Basic Information Cost
- Take note of the manufacturer, model number, the capacity or volume of the unit, motor specs, etc.
- Know the procurement cost.
- Durability is important in getting a good commercial refrigerator, so determine the unit’s estimated lifespan.
- Also take note of the expected use in hours on a monthly or annual basis.
Step 2: Determine the Overall Cost to Own
- Know the capital cost that you’ll need to access between buying a new one and renting. Study the advantages of a straight up-front payment versus the total costs of monthly instalments as stated in the contract.
- Make sure you include the costs of any pick up or delivery fees when renting or buying.
Step 3: Cost to Operate
- Part of having a commercial refrigerator is maintaining the unit. Know whether you can save on labour and maintenance costs when renting or buying.
- Also know the possible service costs and if the parts can easily be accessible in case of repairs or faults.
Step 4: Other
- Depreciation
If you’re having a hard time deciding whether to rent or buy, doing a comparison using the above checklist can help. A commercial refrigerator and freezer is the most important and perhaps biggest investment of any food business. Though both options may be good for your business, there are some things to consider that will affect whether you choose renting or buying, such as your budget, maintenance and repair costs, flexibility, and the business needs. Doing a comparison between buying or choosing a renting commercial freezer or rentingcommercial fridge can make a huge difference in your business and can free up some of that important cash.
To give you more insights about renting commercial freezer and fridges, contact us today.
