Successful financing of equipment

 

QUESTION: What advice can be shared regarding the financing of equipment so as to help prevent cash flow problems for salon owners?

LEARNING: Know your market, know your clients and cash flow problems can be sidestepped with good planning.

Daniel said you had to have a bit more of a calculated understanding, while Ben said his advice was to shop around.

Bruce said explore the options to go to besides banks, that specialise in capital equipment leasing, while Metro encouraged holding VIP nights to introduce new equipment and treatments.

Mandy said consider affordability, while Kaz said to take advantage of low interest rates.

Mathew said he makes sure a business doesn’t over commit themselves so equipment doesn’t end up on eBay, while Meredith said it was important to really know your business and your clients.

Watch the video at the top of the page for the full discussion.

FULL ROUNDTABLE 5 VIDEO LIST:
Industry Roundtable 5 – Investing In Technology
Making The Right Purchasing Decision
The Best Piece Of Technology
Dealing With Discounting
Successful Financing Of Equipment
Cheap Technology Isn’t Worth The Risk
Keeping Up With The Latest Technology
Meet Our Industry Roundtable 5 Suppliers
Meet Our Industry Roundtable 5 Salon Owners