Having excellent cooking skills isn’t the only requirement when building a successful catering business. In your given industry, skills go hand in hand with the right equipment. Potential clients want to be assured that you are equipped with both the expertise and tools to get the job done.
In your pursuit of the ideal equipment, decide first whether buying or renting is the more financially reasonable option.
Buying catering equipment
Buying is advantageous for many reasons. The professionals at Kent Catering agree that buying catering equipment is better than renting in the long run, especially when you have a steady stream of clients. Ownership of the equipment also gives you more freedom in terms of application, storage and maintenance. Lastly, when you purchase, you will save money from buying in bulk or from negotiating.
The major disadvantage of buying the equipment is the cost, which can go over most budgets. In most cases, the long-term financial and operational benefits of owning the equipment outweigh the procurement cost.
Renting catering equipment
There are various advantages of renting catering equipment. First, renting is affordable. If you have a limited budget, buying may not be the smartest move. Renting gives you the opportunity to use all the equipment you don’t have or can’t afford.
Second, renting allows you to manage your cash flow better.
Lastly, renting enables you to enjoy variety in your equipment. Trends come and go, and it would be too costly to constantly update your equipment to keep up with the trend.
Renting has its disadvantages, too. It can become more expensive than purchasing if you rent multiple times a month. Also, in the event of damage, you may be charged for the repair or replacement costs.
Renting is an option if you’re planning to build your inventory, while buying outright is ideal when you have the resources for it. Either way, having the right equipment contributes to the success of your catering business.