Tanning bed leasing
Is everyone in your salon leaving for the beach to get a tan leaving you with no customers? Well then, we've got the answer for you. You can now turn your customers into bronze gods or goddesses right in the comfort of your own salon through leasing your own tanning beds.
What is this tanning bed leasing?
Leasing is just a simple process of creating a legal contract which states that you will rent a certain piece of equipment and pay a specific monthly fee for an agreed number of months. Most tanning bed leasing contracts, when they expire, allow you to either buy the equipment or return it to the lessor.
Why is tanning bed leasing better than buying?
There are two main reasons why you should start leasing tanning beds for your salon.
First, it is a sound financial decision. Tanning bed leasing allows you to conserve as much of your working capital as you can because your money does not get tied up in equipment. Many lessors only require you to pay a minimum initial outlay, usually equivalent to two months of lease. This means you can use your cash on hand for other more proactive ways of earning money. Also, most tanning bed leasing companies have fixed interest rates, so you do not have to worry about inflation. Best of all, you can deduct your tanning bed leasing expenses from your taxes. The new tax laws are actually very friendly to entrepreneurs.
Tanning bed leasing allows you to fix up a lease term that is optimum for your business' expansion pace and present financial position, so that you never have to deal with very stressful, piled-up bills. Your payments can be scheduled either monthly, every other month, or quarterly. The rate is dependent on by the total price of the tanning bed or beds that you choose to lease, your credit worthiness, and other related factors.
Second, tanning bed leasing is fast. You can immediately start using your equipment once your lease starts. Once your first payment comes through, the lessors send your bed right away. There are no pesky financing forms to fill and no lengthy application periods. Because of tanning bed leasing, your tanning salon business never has to wait.
Am I qualified for tanning bed leasing?
Most tanning bed leasing companies require lessee tanning salons to be at least two years old. They need a business history especially if you intend to borrow more than $30,000. Older businesses usually enjoy special repayment plans – in fact, some tanning bed leasing firms allow very established tanning salons to qualify for leasing by giving only as lithe as $20 to $30 in advance.
If you are a start-up, though, do not worry – there are many tanning bed leasing companies willing to take your business, too. They may ask for a slightly heftier advance, but it's usually nothing that will dent your capital. Many tanning bed leasing companies are willing to study the feasibility and future profitability of your business. If your tanning salon meets their expectations, you can avail of startup lease programs and borrow as much as $75,000.