How to Lease Tanning Equipment
New tanning salon business owners have the choice of renting or buying their tanning equipment in the beginning to reduce start-up expenses. If you properly maintain the equipment, renting can be a better option, especially if you are starting an independent tanning salon. If business is good, you can eventually purchase your own equipment. But in the beginning renting is often a better choice, at least until you get on your feet as a business and establish a client base.
Instructions
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Submit a credit application to a tanning equipment leasing company. The leasing company will check your credit, but if you've received a business loan for your company, chances are you will be approved for the tanning equipment, according to Money Source Inc.
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Sign a contract with the leasing company and decide how long of a leasing period you want. These can range from two to five years. For new businesses, shorter is better. No need to lease away the next five years of your life if you can sign up for a two-year contract.
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Put down the deposit and whatever other deposits the leasing company requires. Often, the company will require the first month's payment in addition to the security deposit.
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Use the tanning equipment for the amount of time on the contract, then decide if you want to go ahead and buy out the equipment from the leasing office. If you don't want to purchase the equipment, you can renew the lease and upgrade your equipment, according to Pinnacle Funding.
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Tips & Warnings
Besides normal wear and tear on the equipment, be sure to keep the equipment in relatively good shape. The leasing companies will inspect it and charge you if it isn't up to par.
