What Can Be Financed? Restaurant Fit Outs, Commercial Kitchen Catering Equipment & More
Opening new restaurants or commercial kitchens for catering (or food manufacturing) are not cheap endeavours. We have financed these commercial projects for years in Sydney and across Australia. Finance is smart because it allows business owners to keep their working capital in reserve for other costs. We offer all our clients a straightforward, fast, and affordable financing process. Ready to learn more about the restaurant and commercial kitchen catering finance and loans?
In today’s blog, we discuss:
• What can be financed?
• Tailored loans specifically for restaurants and commercial kitchens.
• Latest restaurant industry data and trends.
• Food safety standards.
Why is Tailored Finance Important for Commercial Kitchens and Restaurants?
Mark explains that financing over the longer term was (and is) recommended for a client who needed an equipment loan for their new restaurant. This was because the outlay for commercial equipment is significant while the value of the items themselves depletes quickly.
For other businesses, Trans Pacific Finance Group would recommend other types of finance, including short-term loans. As every business, their cash flow and equipment needs differ – so must their financing.
As always, Trans Pacific Finance Group had a confidential discussion with this client, compiled the best finance options and delivered approval and financing in record time.
What Can Be Financed? Restaurant Fit Outs, Commercial Kitchen Catering Equipment & More
Kitchens are the heart of restaurant and catering businesses. As such, they must be fitted out with a range of equipment types(*1) to ensure they:
• Satisfy food safety standards.
• Can handle the high demands of commercial food settings.
• Are efficient, easy to maintain and keep clean.
• Will be in good working order for as long as possible. More on this and why tailored loans are essential are below.
Anything core to either opening or upgrading a restaurant or commercial kitchen can generally be financed. In addition to basic fit-out needs, commercial equipment loans can also cover front-of-house set-up costs.
Commercial Kitchen Equipment (Examples of What Can be Financed)
• Ovens.
• Refrigerators and cold rooms.
• Commercial dishwashers.
• Commercial sinks.
• Mixers.
• Display cabinets.
• Pots, pans, and utensils.
• Safety equipment, i.e., fire extinguishers and blankets.
• Additional hand-washing stations.
• Stainless steel benchtops.
• Storage rooms including shelving.
Restaurant Front of House Equipment (What Can be Financed samples)
• Cutlery.
• Glassware.
• Serving ware such as plates, bowls, and cups.
• Fit outs and Furniture including tables and chairs.
• Telephone, networking and security systems.
• Signage (electric or printed). Read about a start-up in regional Australia and the unexpected popularity of their new neon sign.
How is the Restaurant Industry Recovering?
By investing in kitchen equipment and expansions, financiers are putting money where their mouth is. Outside of recent COVID shutdowns, the restaurant industry is seeing huge trends in:
• Wellbeing and healthy eating.
• Intimate dining experiences (due to Covid-related limited capacities).
• Online bookings and ordering(*2).
Between May 2019 and May 2022, the Australian restaurant sector has experienced 167% growth(*3).
Food Safety Standards and Compliance for Restaurants and Commercial Kitchens
If you are not sure what equipment you should purchase for your commercial kitchen, we recommend starting with the following:
• Australia New Zealand Food Standards Code (Chapter 3).
• NSW Food Authority.
Call Trans Pacific Finance on 0433 899 790 for straightforward, fast, and affordable restaurant and commercial kitchen catering fit-out and equipment finance.
References
*1. Nisbets. Fitting Out a Commercial Kitchen – A Starter’s Guide. N.d.
*2. Open Table. Australia’s restaurant industry trends for 2022. 2022.
*3. Open Table. Seated Diners from Online, Phone, and Walk-In Reservations (Table): The Restaurant Industry in Recovery. 2022.
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