Franchises within the hospitality industry are part of one of the fastest growing sectors in Australia today. More and more people want to be their own boss while enjoying the stability of a proven business model.
However financing your franchise can prove to be an issue, particularly if you have minimal credit history or no prior hospitality experience.
With over 25 years’ experience providing flexible equipment funding in the Australian hospitality industry, Silver Chef is passionate about offering customers an alternative to traditional finance options. They have seen rapid growth in the franchise industry and members of the dedicated franchising team have owned and operated their own franchises and understand the unique challenges that both franchisors and franchisees face.
Whether the franchise is planning a complete refurbishment, upgrading a few pieces of equipment or something has broken down and you need a replacement at short notice, funding your kitchen equipment as opposed to purchasing outright can make a huge difference. The unique Rent-Try-Buy® Solution allows you to free up your working capital and keep your money where it should be – in your pocket. Silver Chef’s Chief Executive Officer Charles Gregory said their success can be attributed to a unique alternative to traditional finance options – an offering unlike anything else currently on the market.
“Until Silver Chef’s Rent-Try-Buy model, no finance product has catered specifically for the hospitality industry.
“Our dedicated knowledge and expertise coupled with the flexibility of our offering gives us an edge over our competitors and makes us the perfect choice for those operating in the hospitality industry,” Mr Gregory said.
Franchises such as The Original California Burrito Company, The Coffee Club and Crust Gourmet Pizza have already taken advantage of Silver Chef’s offering in national equipment roll outs and with new store openings.
Jeff Moss, Director of Barrow and Hudson Limited, which is the franchisor of The Original California Burrito Company, said the fast food chain is an accredited franchise system with Silver Chef.
“This means that our franchisees are pre-approved for finance on their kitchen equipment and simply have to complete a one page application for their funding to be in place – it’s very simple,” Mr Moss said.
With 100% tax deductible repayments and off balance sheet funding, customers can preserve their much needed cash flow, which gives them the freedom to run their business the way they intended and without affecting their ability to borrow from other lenders.
Mr Moss said his business would not have been able to grow so rapidly without Silver Chef’s help.
“Silver Chef has been there for us from day one, providing finance when we had just started and didn’t have a track record to be able to secure major bank funding.
“As a start-up it is invaluable funding at a point in time that traditional finance is hard to secure and as an existing business it is a simple way to fund additional equipment if needed at short notice,” Mr Moss said.
Silver Chef caters for all hospitality ventures, from start-ups to existing businesses, including restaurants, cafés, takeaways, pubs, clubs, hotels and franchises. The Franchise Accreditation can help franchisors attract the right franchisees to their business and assist by offering pre-approved funding for all existing and prospective franchisees. The accreditation program is predicted to grow to more than 75 franchise systems in Australia in the next 12 months.
Silver Chef’s Rent-Try-Buy model offers customers a short 12 month agreement, and they can upgrade their equipment or purchase at any time. What’s more, customers are entitled to a 75% net rental rebate if they choose to purchase within the first year, so the rent money is never dead money.
Remember, it’s the use of the equipment – not the ownership of it – that makes the business successful. Build your business and achieve your potential – the smart way.