Buying vs. Leasing Salon Equipment

When updating salon equipment or starting a new business you have to decide which financing option is best for you. Depending on your budget, you have a decision to make; do I lease of finance my new salon equipment? Here at Keller International we get asked all the time about the pros and cons of buying and leasing salon equipment.

Commonly Asked Questions about Leasing Salon Equipment:

What is the difference between leasing or financing (through a bank) for purchasing my styling chairs and equipment?
What are the advantages to leasing vs. a bank loan?
Who do I turn to for leasing equipment and how does it work?

Leasing Salon Equipment is Easy and Affordable

Leasing is not a new option for salon businesses; in fact a lot of salons lease their equipment instead of financing it through a bank. The advantages of leasing are many. Leasing is quicker and easier for most business owners who have limited capital or who need equipment that must be upgraded every few years, while purchasing equipment can be a better option for established businesses or for equipment that has a long usable life.

Advantages of Leasing Salon Equipment

The primary advantage of leasing salon equipment is that it allows you to acquire salon furniture and supplies with minimal initial expenditures and allows you to finance 100% of the equipment costs, shipping costs, taxes, etc. This frees up your cash and other credit for other purposes.

Another financial benefit of leasing salon equipment is that your lease payments can usually be tax deductible, thus reducing the net cost of your lease. In addition, leases are usually easier to obtain. The lease applications are just one page and approvals are usually within 24 hours.

Leases also have more flexible terms and payment structures than bank loans for buying salon equipment. This can be a significant advantage if you have bad credit or need to negotiate a longer payment plan to lower your costs.

We at Keller International, work with several financing institutions that can finance all your salon equipment needs. Highland Financial Group, Quest Resources, Bank of Cardiff and Beneficial Capital are a few that offer great service and an understanding of the salon and barbershop community.

Credit Repair- Beware The Scam Artists!

Credit repair seems to be the buzzword today. With our economy taking a long ride on the recession train, it seems that dozens of new credit repair companies spring up every week. This leaves the consumer with a sometimes terrorizing ordeal of trying to make the right decision concerning having an outside source repair their credit.

You obviously must be very careful when choosing the right company to help you improve your credit. Let’s look at some of the warning signs to help you avoid the scam artists who are prevalent in this industry.

Number One- If a company or individual wants a large fee upfront before any work has been done, run, don’t walk to the next exit. Many of these predators charge $500-$2500 upfront and are making a very good living doing absolutely nothing! Buyer beware.

Number Two- Avoid the pushy salesman who wants to rush you into a decision. Legitimate credit repair companies already understand the pressures that are on consumers today and our respectful of the individual making an informed decision when they are ready.

Number Three- Do your homework! Check them out on the Better Business Bureau’s website to see if there is any derogatory or negative information on the company. Many times I’ve discovered several complaints lodged against a company and gone elsewhere with my business. Also be aware that not every business will be listed in the BBB’s database. You can check out a business at .

Number Four- Go to Google.com and do a search for that company to see if there is any negative information floating around cyberspace. Many times you will find great information about a company to help you make your decision.

Number Five- Ask the credit repair company if they have any referrals of people that don’t mind being contacted to see if they were satisfied with their services. Most of them won’t give you any because they keep their customers private, however listen to the way they respond to you. Sometimes their tone and demeanor will reveal a whole lot about the company.

In my experience, the legitimate companies that are doing great work for people to improve their credit are extremely hard to find. Years ago, I personally went from enjoying an 824 FICO score down to below the 500s because I lost my business. I was determined to restore my credit, so I will went about educating myself on the credit industry. I have since restored my credit and enjoy helping other people do the same without being ripped off.
One company that can help you tremendously in helping to restore your credit is CreditMac.com . I have found them to be honest and reputable and incredibly reasonable in their pricing. In fact, they dont charge people without providing professional services, they dont charge flat monthly fees or large up-front fees. Additionally, CreditMac.com does not lock you into long-term contracts.
I give them my highest recommendation.