Tanning Bed Financing
All lease payments on your new equipment can be written off against your revenue so you will show a lower profit and thus receive tax benefits. Constantly updating your salon is important if you want to keep yourself established as the best salon in your given area. Tanners often get bored using the same equipment, so introducing new units helps to gain their interest back and can increase the amount your charge per session.
Opening a tanning salon can require a lot of up front capital. One way to overcome this financial hurdle is to finance tanning equipment. The cost of some of the newer high end tanning beds can exceed $40,000. Don?t wait to save up enough money so you can buy new equipment outright when you can benefit from having updated, new equipment right now and still maintain healthy cash reserves. One of the most important reasons that you should consider leasing tanning equipment instead of paying cash is the tax benefits that can be gained.
Look to get deals including free lamps or lotion wrapped up in the leasing agreement. This can sweeten the deal and help you to make the deal even better. In a dynamic industry those who stay static are the ones who disappear. Word of mouth is your cheapest form and most successful form of advertising, so keep it going by having your customers talk about the amazing new equipment you just put in.
Some manufactures offer a unique tanning booth financing system that allows you to pay for your tanning booths on a pay-per-use basis. Instead of the normal lease configuration that has set monthly payments you only pay a set fee when the unit is used. Usually this value is between $4 and $8 depending on the price of the tanning bed and the length of the tanning bed lease. The rest of the money you collect from that session is yours. This system allows you to profit off your new booth from the very beginning. These plans are especially beneficial in the off-season when revenue is low. Since the payments are directly related to the revenue you are receiving you never have to be concerned about your cash-flow situation.
If you are going to put in new equipment it is important that you get the best, so do not accept sub-par tanning beds simply because one company is offering you lower monthly payments. It may appear appealing to go this route,Sac Tod?s, but in the long run you need to consider it from an investment stand-point. Tanning beds last for years and the higher-end units will generate more profit for you in the long-run although you may instill slightly higher costs upfront.
A final option when looking for tanning bed financing is to go to a bank and use personal property as collateral on a loan. If you need to finance an entire salon this is often the route you must take as most manufacturers are unwilling to take on the large amount of risk associated with outfitting an entire salon with tanning beds. A hybrid of both systems can also be used if it fits your needs.Sac Tod?s
Source: http://www.medicaltravelclub.com/qa/2012/08/tods-soldes-tanning-bed-financing/
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