Breaking The Fast
Equipment Financing Breaking The Fast
Author: Stephanie Clarke
Date posted: 02.26.23

Mark and Shae own a large historic home on the coast of South Carolina which they converted to a Bed and Breakfast three years ago. As their following grows, the Bed and Breakfast is seeing an increased number of fully booked accommodations. The B&B offers a relaxed coastal vibe with a full complimentary breakfast and attracts mostly couples traveling together as well as girlfriend getaways and men’s golf trips. The location is near pristine oceanfront beaches but also wineries, microbreweries, golf courses, boutique shopping, and more.

Early on, the existing kitchen in the home was sufficient to accommodate the limited number of guests. However, as the B & B reaches capacity more often, Mark and Shae want to upgrade to a commercial kitchen. Not only will a commercial kitchen help them to better accommodate their guests, but it will also allow Shae to add additional offerings throughout the day and on weekends. Furthermore, the owners aim to collaborate with local wineries, microbreweries, and businesses to create appealing onsite events for their guests.

 

The goal is to reach near 100 percent capacity in the coming year while providing each guest with a unique, luxury experience. The addition of commercial kitchen appliances will enable the owners to provide a first-class experience. This includes offering quality meals that go beyond the traditional breakfast expected.

Breaking The Fast

Mark has a crew already working on the remodel and preparing the space for the new commercial appliances. However, finances are tight. The owners want top-of-the-line appliances that can stand the test of time. They have estimated the cost for all appliances and equipment to be around $50,000. The owners believe they could repay the needed loan amount in a short period of time. This is due to the increased revenue from a fully occupied B & B.

Mark and Shae realized that equipment financing was the most suitable choice for their needs. This option provided them with a loan that allowed them to lease the necessary appliances and equipment over a specific period. This approach ensured that their project would generate profits. Additionally, they were given the opportunity to purchase all of the equipment at the conclusion of the lease term. The owners submitted required paperwork, including bank statements, revenue reports, and credit scores, resulting in a speedy funding process within just one week. The appliances/equipment were ready to be delivered when Mark and his crew were ready.

 

Mark, Shae, their chef, and kitchen staff were delighted with the new appliances, enabling top-tier breakfast, brunch, meals, and event catering. At the end of the first year of the B & B’s kitchen upgrade, the owners neared full capacity. Additionally, they were making good progress on the equipment loan.

Breaking The Fast
About The Author | Stephanie Clarke

Stephanie has a bachelor's degree in psychology and has been a professional writer for over 15 years. Her client list includes New York Times bestselling authors, publishing houses, prominent public figures and successful business owners. She resides with her family in Florida.

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