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How to Lease Dry Cleaning Equipment

In this modern time which requires everyone to work all day long, it seems like everyone don’t have time to clean or wash his clothes anymore.

But because of this business, some people are able to make money out of it by venturing into the dry cleaning business.

But if a certain business does not have any credit history, buying equipments for dry cleaning can be a tough challenge. In order for a business to be successfully approved there are criteria that are needed to be met.

The very first thing that you need to do in leasing dry cleaning equipment is to evaluate on how long you have been operating your business. Most companies in dry cleaning request for your business to be 2-3 in operation before they lease the dry cleaning equipment. But what if you are just starting your operation in this kind of business? There are other options that will be required of you for approval. One example of these is having your business savings.

Tips to Lease Dry Cleaning Equipment

Next, you have to contact manufacturers that offer the exact dry cleaning equipment you have always been looking for. In order for you to discover the special programs offered by manufacturers for a business like you having little credit, you must go straight to your source. You can also request for quotes and brochures from the sales representative of your chosen manufacturing company. This will provide you a good idea of the most effective and best equipment needed.

Your business plan is also a very helpful tool for your business. Since you just have a limited credit, you should prove your chosen leasing company that you have the capability to generate profit and pay the amount of the lease on a monthly basis. In the business plan, the following variable must be included: success of the present dry cleaning industry, the time you expect to generate profit and the target market. Are you not that skilled in making a business plan? Then you can ask assistance from a reliable expert.

After that, you must also get a copy of the credit score and the credit report. The range of the credit score is from 300-800 points. The following are some of the most reliable sites where you can get your credit report and score: Experian.com, Equifax.com and Transunion.com. By checking them, informing the salesperson of the status of the credit score will be easier.

You also need to have a savings type. This will also pave the way for your business to be provided with leasing options of leasing companies since this can pay for your lease payments. With the help of an expert accountant, you need to have a draft of loss statement and balance sheet as well. Print out copies of them and keep them for future references.

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2 Comments

  • zanele said on March 27, 2013
    I am in Paarl and planning this laundry business but no wing to flt were to start and how
  • Grace said on February 14, 2017
    Hi, I wanted to start dry cleaning business but don't know how much do I need and about the equipment and do I need to get approved by certain criteria? Tq, Grace

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