While the banks may still be hesitant to loan to the hospitality sector, Diane Ho, brand manager at Lec Commercial, said that sales in the sector are holding steady.
“While many businesses are finding the current economic climate challenging, the hospitality sector remains fairly buoyant,” she said.
“Lec Commercial is seeing a strong increase in sales of refrigeration products year on year, due to the quality of products and the features/choice offered that are at an affordable price for most businesses.”
And although purchasing a new piece of equipment outright can seem like a larger investment, suppliers say that over the long-term it is still more cost-effective than leasing equipment.
“Lease options are available, but while these avoid an initial outlay, they often prove more expensive when costs are compared over a longer time-frame,” said Ho.
Natalie McShane, marketing executive at Ace Refrigeration, agreed.
“It is usually better to buy this equipment as then you have total ownership and total control and can ensure it is maintained properly,” she said.
As well as offering finance through its sister company, Lenzie Finance, McShane said Ace has been able to advise customers on accessing the tax benefits of purchasing new equipment and how they can access grants.
Image – Suppliers say it’s more cost-effective to buy fridges than lease them.