Want a beautiful new office, but can’t afford everything at once? Furnishing an entire office can be expensive, especially for a new business. If your budget is tight, leasing may be an option you may want to consider so you can focus on investing in your profit centers.
There are other times when leasing your office furniture is a good idea, like if you need to keep your business operating during a move or through any kind of transition, times when you need to project a professional image, or during the recovery period from a disaster. Short-term needs like special events or training are good times to rent, because you’ll save on the cost of storing unused furniture between training sessions.
There are plenty of local, regional, and national furniture leasing providers, so you will have options to choose from — more if you are located in or near a large urban center. Local companies usually have a delivery territory. Find out about delivery, installation and pick-up at the end of your lease.
Make sure that the company you select offers lease terms that fit your budget and your timeline. Typical lease terms are between 24 and 60 months. However, some rental companies offer shorter leases, from one month to twelve or more. Some offer rent-to-own or buyout options. Find the term and the payment plan that work for your company. You can check out National Business Furniture’s leasing program here.
If you are considering leasing furniture and may want to purchase the furniture before the lease is complete, make sure to ask about repayment penalties. Some companies will penalize you if you try to pay for your furniture early. Even if you don't think buying-out your lease early will be an option for you, you should still consider this possibility up-front. Things can change quickly and you don't want to be locked into a situation that is no longer optimal.
Consult with your leasing agency about the best term for your situation. The agent will ask you questions about your furniture needs, cash flow and long-term plans to help you choose the right fit for your company and situation.
Another benefit of leasing furniture is that your payments are completely tax-deductible. Check with your accountant for more information.
Some furniture leasing companies offer additional services, like space planning, ergonomic evaluations, and project management for furniture purchases, moves, or expansions.
If you want to conserve your cash, need a quick furniture solution, or have special furniture needs, then leasing furniture is a viable option.