Uncategorized – Page 2 – Priority Leasing

Lease HVAC? Of Course We Can!

May 23 , 2018 by Deb Sands

This week, the temperature in Calgary reached 30 degrees! Is this a forecast (pun intended) of what a prairie summer is going to look like? For those of us tied to a desk and not frolicking at the beach, it might be a good time to discuss HVAC systems, and the simplicity of leasing one.

Yes, you can lease any size HVAC system!

To start this story, I would like to mention a church in southeast Calgary who was having an issue with a “hellish atmosphere” last summer. No, this wasn’t a cheesy re-make of “Angels and Demons” where a leasing agent saves the day, but rather a case of an old air conditioning unit heaving its last chilly breath.

Since holding Sunday service down by the river was not an option, and the parishioners were melting in the stifling air, the good pastor gave us a call and asked if we could lease him a new air conditioner and all the duct work that goes with it.

Perhaps you’re asking yourself, is it really possible to lease a commercial air conditioner? And the metal ductwork permanently attached to the ceiling? To arrive at an answer, credit managers will ask two simple questions. “Can they pay?” and “Will they pay?” In other words, does the church have the cash flow to make monthly payments? And, does their corporate credit bureau show that they have paid other bills on time?

In this case, both answers were YES, and within a few days the air was cooler and the congregation was enjoying a renewed belief in miracles. This added greatly to the collection plate and the monthly lease payment was easily covered.

So here’s the moral of the story. Running a business is challenging enough without having to sweat while you source all the answers to all the problems. If we can help you cool off, and enjoy your summer, give us a call and let’s figure this out together.

Stay cool this summer!

In the market for new equipment but can’t afford to buy?

Oct 2 , 2017 by Deb Sands

If you are in the market for new equipment or technology for your business, but can’t afford to buy it, leasing is an option to consider.

Instead of buying the equipment or technology outright, leasing allows you to make smaller monthly payments, typically, over a multiple-year period. At the end of the lease, you usually have the option of simply returning the equipment, or buying it for a price that factors in appreciation and how much you paid over the life of the lease.

Leasing equipment in general, however, is very common, especially when acquiring the following categories of equipment.

Here are the top 5 most popular items leased:

1. Commercial vehicles. Owning, running and maintaining a fleet of vehicles can cost you a lot of time and money. If your company uses passenger vans, delivery vans, box trucks, tractors and trailers, or any other vehicle to conduct daily business, leasing might be a solid option for you. From nursing homes that transport groups of residents to activities around town to trucking companies, commercial vehicle leasing is a popular financing option.

2. Medical and laboratory equipment. Most of us consumers have experienced the high cost of health care. Some of that cost can be attributed to the equipment that doctors and dentists need to provide effective diagnosis and treatment. It’s expensive. For many practitioners, leasing items such as X-ray machines, lasers, MRI and CT scanners, and even surgical tables enables them to keep their costs down. Medical and dental equipment leasing is very popular choice.

3. Construction equipment. Equipment leasing is often the first choice for general contractors, roofers, remodelers, home builders, and excavation companies. Heavy construction equipment can be extremely costly, so these companies often find success in leasing dump trucks, backhoes and other earth movers, survey equipment, loaders and more.

4. IT equipment. No matter what business you’re in, you will likely need an IT backbone to support your operations. So it’s no wonder that IT equipment is one of the most popular types of equipment leased. Computers, servers, software, telephone systems, networking and cabling can be leased.

5. Manufacturing and industrial plant equipment. An especially costly category of equipment is in the manufacturing and industrial sector, making it a popular equipment leasing category as well. A manufacturer can lease revenue-producing equipment such as stamping and forming machinery, forklifts, welders and conveyor systems. Leasing is a popular choice when a company does not want to use up its operating cash.

Priority Leasing has over 24 years of experience with negotiating lease financing on all of the most popularly leased items. Ask yourself the following three questions before you get started:

1. What is your monthly budget? Leasing offers substantially lower monthly payments in comparison to purchasing. But it still has to be factored into your monthly cash flow.

2. How long will the equipment be used for? For short-term use, leasing is almost always the most cost-effective way for businesses to go. But if you’re using the equipment for three years or more, a loan or standard line of credit may be more beneficial than a lease.

3. How quickly will the equipment become obsolete? Technology is more likely to become outdated more quickly than other types of equipment. Consider this before deciding whether a trade-in makes sense for you.

If you need to lease any of the above equipment, contact us to see how we can help you get started!

The price of oil is the focus of much attention these days.

Sep 18 , 2017 by Deb Sands

Recently Premier Rachel Notley expressed optimism about the Alberta economy “We have a way to go but I am pleased to say that we are making progress,” she said. “Since last year’s Stampede Investment Forum, the Alberta economy has added more than 47,000 new full-time jobs. When people get back to work our entire economy sees the benefits.”

On the subject of energy, Notley made a strong case for pipelines to tidewater ports for oil and natural gas exports and stressed Alberta is an environmental leader with a Climate Leadership Plan that “is the most forward looking and aggressive of any jurisdiction in North America.”

The price of oil is the focus of much attention these days. It’s been a tough few years with weak demand and low prices. For many oil and gas companies, both large and small, it has been difficult to make strategic decisions and plan for the future.
A number of important global commodity research groups, including Commerzbank, Goldman Sachs, Morgan Stanley, PVM Oil Associates, IHS, and BNP Paribas have issued recent reports touting what has been very strong oil demand growth in 2017. According to Alberta Oil and Gas Industry Quarterly Update…” Alberta’s vast crude oil and natural gas resources are the backbone of the provincial economy and a vital element of Canada’s economy. In fact, energy development is the largest contributor to the province’s gross domestic product, capital investments and exports.”

With that in mind, a lot of small Oil and Gas companies are emerging, and many without the capital to buy the equipment they need. Many energy companies have to adjust their business models to re-build in a period of recovery. In Alberta, the advanced drilling and hydraulic fracturing technology is being used in an increasing number of oil plays, so newer equipment is needed.
These days, just about anything can be leased–from drilling equipment to compressor systems to fuel storage tanks to complete offices. The kind of business you’re in and the type of equipment you’re considering are major factors in determining whether to lease or buy. Leasing equipment gives you more flexibility; lease and pay for the oil and gas equipment only when you need it.

Leasing advantages include: making lower monthly payments than you’d have with a loan, getting a fixed financing rate instead of a floating rate, benefiting from tax advantages, conserving working capital and avoiding cash-devouring down payments, and gaining immediate access to the most up-to-date business tools.
The oil and gas pipeline industry is a specialized field and trying to find financing for the heavy equipment needed on the job can be complex. That’s why it’s important to find a lessor that has experience in the industry. The right finance expert will provide personal service that will be invaluable when navigating the often treacherous financing waters.

We at Priority Leasing understand that oil and gas is a very specialized industry, and as such, it can be tough to finance such unique equipment through a standard banking institution. As a direct lender and finance solution provider who specializes in the oil and gas industry, Priority Leasing can recommend all the best practices for securing heavy equipment financing and finding the right finance partner for this specialized business. Contact us today to discuss your needs!

Romancing The Copier

Jul 1 , 2017 by Deb Sands

To operate successfully in today’s competitive market, especially during this recession, businesses need to have the most up to date equipment.

For instance, your copier has finally given up the ghost… and as you know, office equipment can be extremely costly and many businesses simply couldn’t afford to buy printing or computing devices if they had to purchase outright.

Leasing contracts for office printers enable businesses to use exactly what they need, but at prices that are easy to budget for, along with substantial tax benefits. When you take out a leasing contract, the equipment is delivered and installed. You then simply pay the agreed monthly or annual fee for the duration of the agreement (usually somewhere between 1-5 years).

Servicing, maintenance and even consumables can be added, although the equipment remains the property of the provider throughout. Once the contract ends, the equipment is returned, upgraded or sometimes purchased at a substantial discount.

Whether you are buying or selling business equipment, leasing makes investment easy and quick…. for you and your customers.

Minimise risk – protect yourself from depreciating technology costs
Release cash – free up your money in other areas to drive growth
Eliminate uncertainty – fixed rental payments help you budget and plan

Deciding whether you should rent or purchase a printer, photocopier or multifunction device will come down to the volume of your printing needs and how much budget there is for an initial outlay. It may be that you only need a low cost, low volume device, which would probably work out cheaper to buy.

However, for more expensive and higher volume machines, the initial cost may be too great, or you may wish to spread out the costs of servicing and consumables. In which case, renting your printing equipment could be the perfect solution. Before you decide, make sure you work out the cost per page of each option.

Keeping your Eye on the Bottom Line.

Jan 27 , 2017 by Deb Sands

Whether you are in your last year of optometry school, or already practicing, opening your own optometry practice may be on your mind.

Fast facts*

The average Canadian optometrist in practice earns $70,000 to $80,000 per year, excluding benefits;
How long does an optometrist stay in the career? Typically life-long, until retirement;
There are approximately 3,000 practising optometrists in Canada.
Building an Optometric practice from the ground up can be the challenge of a lifetime. You’ll most likely have to borrow capital in order to start your new practice. This includes funding for build-out construction, equipment, inventory and working capital. The true cost of opening an optometry practice varies tremendously, usually equipment costs will be higher, depends on new vs used, purchase vs lease. Some costs to consider are:
size of your venture
number of exam lanes
equipment needed
inventory
number of employees and much more!

Starting your own practice can seem like a daunting feat. While there is no handbook that guarantees you success, there’s no shame in starting with less than what you may imagine for your ideal practice. Diagnostic technology can and should be added over time, based on your patient volume.

Many pitfalls can take a new business owner by surprise. Regardless of how long you’ve been in practice, recognizing and avoiding potentially costly errors is essential to laying a strong foundation for financial success.

Buying Too Much Too Soon

When setting up shop, it can be tough to resist going on a shopping spree for the latest equipment, especially with the number of advances in eye care technology over the past decade. You’ve just finished studying about what equipment is out there, including:

· Autorefractors

· Fundus cameras

· Tonometers

· OCT Imaging systems

· Digital test charts

· Topographer

· Keratometer

· Lasers

· Combi units

· and Blocking / Edging equipment.

As a start-up business, which (if any) of these expensive pieces of equipment is needed in your new practice? Overspending on equipment is probably the biggest draw on start-up capital.

Start-Up and Overhead Costs: When starting up a new practice, usually start-up costs include: capital costs for equipment and leasehold improvements. The majority of overhead costs arise from the inventory of lenses, frames, contact lenses and lens solutions.

Revenue Sources: Optometrists are paid at the time services are provided. An optometrist’s earnings are determined by several factors including: coverage under provincial medical programs, fee schedules, hours worked, practice location, services provided and patient population.

Based on initial patient volume, what is the cost vs. return and will it justify the expense? Will delaying the purchase of such equipment impact the long-term success of your practice?

Overspending on equipment is probably the biggest draw on start-up capital.

In fact, adding more equipment as the practice progresses may provide a great opportunity to reconnect with your returning patients. However, it’s also important that you don’t go to the other extreme by investing as little as possible in frame inventory. It may lower your start-up costs, but it could also affect how patients perceive your practice and stunt your revenue growth.

As a growing company I’m sure you are constantly investing in new technology and equipment, but do you have an ongoing refurbishment program?

As a practice owner, you are essentially an entrepreneur. You need to take care of managing and marketing your business in addition to practicing optometry and maintaining good relationships with your patients.

The best businesses are usually run by people who are innovative, entrepreneurial and also have a keen understanding of how to look after their money and how to make it work for them with as little risk to them and their businesses as possible.

Buying vs. Leasing – What’s right for your Practice?

It is as crucial to understand both when to invest and when to save, as how to invest and how to save. Study your options. Purchase vs. Leasing?

Obtaining state-of-the-art retinal imaging devices to incorporate into your practice sounds like a no-brainer. Right? Wrong. While it’s true most eye care professionals (ECPs) want to keep up with the latest technology and offer their patients the very best in diagnostics, it’s also true that these machines can be expensive. All of which begs the question: Is it worth buying or leasing?

If you are in the market for new retinal imaging devices you need to be careful with your selection. Does your purchase have trade-in value if newer technology arrives? Are there maintenance costs? Will you obtain enough return on investment and improve efficiency with this new technology? These are important questions to ask yourself before you invest your capital.

Devices that are likely to become outdated or that have poor software upgrades are not ones you want to purchase. Ranging from the acquisition or relocation of a practice, a shop fitting revamp, new technological equipment, or simply a loan to meet your tax demand we have a solution to help. Contact us today to discuss how you can keep your “Eye” on the bottom line by learning which option is the best for you!

*Source: http://uwaterloo.ca/optometry

Should You Buy or Lease Heavy Equipment?

Jan 10 , 2017 by Deb Sands

New assets are an essential part of business growth. But finding money to acquire them can impact other areas of your operation. There is no need to sacrifice your company’s image or increase insurance liability and costs by utilizing the wrong equipment for the job.

Your business requires only the best equipment in order to run properly, but sometimes the best equipment is financially out of reach. Heavy equipment is expensive to buy new, and used equipment may be affordable but not reliable. When you’re buying or selling, there’s more to consider than just age and condition.

If you’ve ever bought or sold heavy equipment, you know there’s a lot at stake – even if it’s just one excavator, a bulldozer, or a dump truck.

Why chose equipment Leasing?

 A new credit line, not affecting bank overdrafts
 Keeps your working capital for day to day requirements and needs.
 Spreads the cost of the equipment over the life of the equipment.

Here in Alberta, we may not be out of the downturn just yet, so why tie up valuable cash reserves in costly construction equipment acquisitions?

Equipment leasing is much more than a form of financing. It should be seen as an overall strategy for managing your equipment.

Although leasing for tax purposes is different when the lessee is in the US, there are still many other compelling reasons to look at different financing options. The link below takes you to a great article I came across entitled “Should You Buy or Lease Heavy Equipment?” The article is written by Dallin Hawkins from Integrity Financial Groups, LLC”.

Priority Leasing also offers creative equipment financing, complete with skips, steps and balloons. Whatever you are looking for, in either equipment leasing or business finance, we have both the experience and knowledge to help you. Feel free to contact us: https://priorityleasing.net/

Moving the Dial Forward – Checking your Goals…

Dec 21 , 2016 by Deb Sands

In honour of the fact the year is almost over I thought I would ask you this question:

How have you done over 2016 on accomplishing your one thing for the year? Your one great priority? Have you moved the dial forward this year?

Setting goals gives you long-term vision and short-term motivation. But what is your Priority -your “One Thing”? Many people have “Priorities” – but what is your “One Thing?”

It’s interesting to note that the word priority came into the English language in the 1400’s. It was singular. It meant “the very first or prior thing.”

Only in the 1900’s did we pluralize “Priority” thus giving us the false idea that all of a sudden we have the ability to multiply “first things” thus leading to a lack of focus and clarity.. No wonder we are confused and overwhelmed with “priorities” instead of “one thing”. With this in mind, search within yourself for the answer to what is your “One Thing”.

Goal setting is a powerful process for thinking about your ideal future, and for motivating yourself to turn your vision of this future into reality. – We all know this, yet many of us have not seriously written down or measured our Goals. Many people feel life is too unpredictable to make plans beyond this year’s holiday, and even that’s a bit of a stretch. Most people have general intentions – but many don’t have goals. It’s great to have intentions and goals… but it is integral to commit to ONE THING being the priority for the quarter or year. Think about it… when you begin to work on Quarterly Priorities and have more than three, many times by the time a quarterly review comes around, the leadership team has lost sight of what that One Thing is. How do you move the dial forward?

Ask yourself this question: “would you set out on a major journey with no real idea of your destination?”

SMART Goals

A useful way of making goals more powerful is to use the SMART mnemonic. Ensure that your goals are attainable: Don’t set yourself up for failure by aiming for out-of-sight goals. Choose smaller goals that you can use as stepping stones toward a bigger, long-term achievement. For example, a runner might dream of completing a marathon, but set a short-term goal of running 10 miles a week for two months.

Ask yourself whether or not the activities that you choose to support your priority are 90% or more on target of attaining that measurement?

Make sure your priority has a metric to measure and answer the following questions:

“HOW WILL WE KNOW WHEN WE’RE DONE?”
“How will we know when we have succeeded?”

You achieved a Goal… Now What?

It’s important that when you’ve achieved one of your goals, take the time to enjoy the satisfaction of having done so. Absorb the implications of the goal achievement, and observe the progress that you’ve made towards your other goals.

If the goal was a significant one, reward yourself appropriately. All of this helps you build the self-confidence you deserve. You have indeed moved the dial forward.

With the experience of having achieved this goal, review the rest of your goal plans:

If you achieved the goal too easily, make your next goal harder.
If the goal took a dispiriting length of time to achieve, make the next goal a little easier.
If you learned something that would lead you to change other goals, do so.
If you noticed a deficit in your skills despite achieving the goal, decide whether to set goals to fix this.

And more importantly, know that failing to meet goals does not matter much, just as long as you learn from the experience.

Work–life balance is a concept including proper prioritizing between “work” (career and ambition) and “lifestyle” (health, pleasure, leisure, family and spiritual development/meditation). This is related to the idea of lifestyle choice.

Of course everyone’s priorities change depending on a range of factors. For example, age can make your balance very different.

If you’re in your twenties or thirties, you may have strong commitments to building a family life whilst, at the same time, focus on growing your career.

If you’re in your fifties and sixties, on the other hand, your focus may be on more personally meaningful and purposeful activities, which may not have been present earlier in life.

Whatever you do to establish your work/life balance, it’s vital to create it and keep to it whenever possible.

Moving the dial at home, too

Achieving the balance between work and personal life is becoming increasingly difficult due to the pressure current society has placed on individuals.

Now that you know the best practices for goal setting, it’s time to start thinking about your family’s hopes and dreams. Could your family find ways to spend more time together? Family goals focus on achieving accomplishments agreed upon by the family. The family individuals need to work as a team to collectively identify and establish goals for the family unit… Setting family goals helps you to focus on the family and achieve work life balance. It’s all about balance!

We at Priority Leasing are wishing you all great success in work and life and in finding the right balance for you and in setting your goals and moving the dial forward in 2017.

Deb Sands

President

P: 403-216-1930

C: 403-703-7301

E: debbie@priorityleasing.net

W: https://priorityleasing.net

Ca.linkedin.com/in/debsands/

Is Live Tradeshow Marketing a Thing of the Past?

Nov 30 , 2016 by Deb Sands

Advancements in technology have created a new type of virtual relationship with exhibiting your products and services to your target market with “virtual events.” This however poses the following questions:

Are Live Tradeshows a Thing of the Past? … Is there still value in human interaction?

Can we form the same type of relationships virtually as we can in-person? Of course not! Let’s face it, we all prefer to work with vendors and business partners we trust and with whom we share something in common. With that said my colleague and I recently attended a Tradeshow and were impressed with not just the quality of the display booths but with the opportunity to speak directly with experienced staff that were at their booths. The Tradeshow was a success indicated merely by the number of people who attended.

However, as with any marketing campaign you have to examine both the benefits and the risks of exhibits at trade shows, conferences and exhibitions and of course keeping your eye on the ultimate ROI.

Consider the benefits and risks to your business when deciding to exhibit your product or service. These will be different for each event; however, there can be a lot to gain from promoting your product in person within a different environment.

Benefits:

There are many benefits to marketing your business or service at a Tradeshow, Conference or an Exhibition. Did you know there is a difference between a Tradeshow and an Exhibition and a Conference?

· Tradeshows are generally targeted at an industry and people involved or interested in that industry. Exhibiting at a trade show can be a great way to advertise to a target market and create brand awareness!

· Exhibitions are open to a large and sometimes diverse range of audiences (usually the general public). This provides you with a platform to promote your product or service to a broader group that may have little or no knowledge of your products and services.

· Conferences are industry specific and more of a niche venue. Its benefit is that it always have key industry speakers, break out session of various experts that provide their experience and knowledge or specific training sessions. In addition there are always networking events that enable attendees to build relationships.

Depending on your type of business, and/or product or service offering, all of the above can provide viable and cost effective market testing can be carried out at all three venues to gain industry buy-in or general opinion about your offering. Being involved in a tradeshow or exhibition can provide you with opportunities to branch out to business-to-business trading and create a customer database from the visitors to your display booth.

Trade shows offer big benefits to businesses of any size. By combining exposure to a large number of potential leads with the ability to interact personally, trade shows offer an experience for both the business and attendee that other forms of marketing cannot. Though virtual events and other technologies are slowly gaining popularity, few marketing methods compete with the potential of trade shows.

And to top it off… exhibiting at an event is one of the most cost-effective ways for your company to reach qualified audiences…. According to a US study by Exhibit Surveys Inc., the average cost per visitor reached at a trade show is US$150, while the average cost of a field sales call is US$240. You do the math – you definitely get more bang for your buckat a tradeshow or an exhibition.

With a well-designed trade show booth that draws attendees’ attention, a few promotional items, a contest opportunity with giveaways and sales collateral, you have a well-rounded booth experience that leaves an impression with a prospective customer for months!

Risks:

It is also important to ensure that you have thoroughly researched attending a trade show or exhibition. There are some risks involved and you need to be aware of them in the planning stages:

· Trade shows require at least a day and probably more of your time.

· Travelling to trade shows can be costly.

· Displaying at a trade show can also be costly if not managed properly.

· There will probably be quite a bit of competition at all shows, therefore your Brand must make an impact.

Choosing the wrong trade show to exhibit your business’s products or services can result in displaying to the wrong audience. A poorly executed promotion or campaign can mean the costs of attending the trade show outweigh any revenue you gain.

First Impressions

We all know that “first impressions” are integral. It takes just three seconds for someone to observe and evaluate you and your company. A first impression can be nearly impossible to reverse or undo, making those first encounters extremely important, for they set the tone for all the relationships that follow.

After all, your Display is a direct invitation to say “Come on in!” Therefore it’s vital to make sure your objective for the show – selling, marketing or corporate image – determines the look and feel of your stand. Choose the overall design graphics and enhancements to your display to boost the image you want to create. Trade shows are a great place to get your business noticed.

Trade shows are a great place to get your business noticed. However, if you really want to stand out, using a custom designed trade show booth design is key. There are many businesses at a trade show, so in order to get noticed, you must stand out from the crowd. Benefits to having a custom designed trade show booth design are as follows:

1. Stand Out: trade shows have hundreds, sometimes thousands, of booths. If your booth looks like all the rest, chances are, your business will get lost in the crowd.

2. Unique & Versatility: choosing a custom booth design that is flexible for either a Conference or Tradeshow will not only show your uniqueness but enable you to invest into the future with a display that is flexible for various booth sizes. If it can expand from 10’ x 10’ to a 10’ x 120’ or even a 20’ x 20’ booth space, what a great time to invest into the growth of your company and brand!

The amazing team we spoke to at Nexus Displays gave us an education on Successful Displays and I am happy to report – Gone are the days of needing a semi-truck to transport your exhibit. After speaking with the team at Nexus Exhibits I quickly learned that deciding on a space that will suit your objective can be challenging; all too often, people get carried away with the idea that size is better than focus. Small stands can work well. These amazing stands, tables and backdrops are folding up into small packages that anyone can carry. And graphics! Well. Graphics on any medium have come so far. And it’s very cool to see them on large exhibits.

Priority Leasing has made it easier than ever to find the exhibit rental that meets your aesthetic, functional, and budgetary requirements. Below are three examples of some great signage from an 8’ Instant Pop Up Display to more substantial displays for your business and the cost to lease!

8’ Instant Pop Up Display

– $137.00 plus GST

20’ – $534.00 plus GST

Fuller Display – $2411.00

plus GST.

They are all based on a 36 month term with a $10.00 buyout at the end of the lease.

For more information contact us today!

P: 403-216-1930

C: 403-703-7301

E: debbie@priorityleasing.net

W: https://priorityleasing.net

Is Your Equipment Holding You Back?

Nov 9 , 2016 by Deb Sands

Whether you’re just starting out, needing to upgrade to the latest gym, spa or office equipment or are looking to extend your range of technology – affording the commercial equipment you need to grow your business can be challenging.

The primary reason for running your own business is to make a profit – this requires strategy and planning to achieve a targeted return for your efforts. Is your “equipment” holding you back?

Upgrading an office system can be quite an expensive proposition. However, there are a number of important reasons why it is necessary for companies to do so. Most importantly – if a company fails to keep their systems up to date, it won’t be long before they are not getting access to new services and features that can offer value and add productivity to their organization.

You’re on a tight budget. You can’t afford to replace your existing equipment with brand-new models…or can you? Here’s how to decide when–and if–it’s time to upgrade, and how to save money doing it.

When Is the Right Time to Upgrade?

Chances are things have changed in your business since you first acquired your equipment. Your equipment could be out-dated, PC’s running slow, or newer and better cardio, strength and group training equipment is now on the market.

Other Key determining factors may include:

· Increased employee productivity with updated and faster PC’s;
· Improves security;
· Motivating new clients with upgraded equipment at the gym;
· Attracting new clients with professional skin care equipment; and
· With the impending Carbon Tax – you need to upgrade to remain energy efficient.

In many cases, upgrading may make financial sense. No longer is the cost associated with new equipment purely monetary.

Your next question may be “Should I buy or should I Lease?”

There are pros and cons to both, which makes the decision to buy or lease even more challenging. Leasing helps you avoid the high set-up costs of opening a new facility and it does help you to spread the cost of essential equipment over a period of up to 5 years.

The ins and outs of Equipment Leasing can be somewhat daunting, so that is why I wrote the book “Equipment Leasing “Essential Facts for Canadian Business” in order to help you to understand how to invest your hard earned profits.

Why read a book about Equipment Leasing?

Simple! Leasing is an industry with myths and misunderstandings that often leave business people confused.

As the founder and president of Priority Leasing Inc., I have successfully combined vision with integrity, as well as leadership and have over 26 years of leasing experience. With that sort of insight, I wrote this book in order to debunk the myths and to arm you with competitive strategies only leasing can give your business.

This book covers financing facts, tips and strategies at a time when economic uncertainty dictates the need for creative financing options.

Some of the take-a-ways you will understand after reading this great book include:

· How to make a profit from your equipment – IMMEDIATELY!
· What you should – and should not Lease;
· How to avoid – or reduce taxes;
· The best way to maximize the return on your equipment AND optimize the value of your business;
· How to better leverage your available credit; and
· How to AVOID making costly mistakes.

You don’t need to wait until the first of January to make a new beginning. Every moment and every hour opens the door to the rest of your life.

For more information on how you can obtain a copy of Equipment Leasing Essential Facts for Canadian Business please click here.

Strategic Considerations 2017: Next Year’s Budget Planning

Oct 13 , 2016 by Deb Sands

The year is coming to a close. There were good times and bad times. Face it – the end of the year is always a challenging time for businesses – it is a look at the past year and forecasting for the next year. Your annual performance should provide the baseline by which to assess your year-over-year performance.

The planning and budgeting process for the coming year sneaks up on all of us, it seems. Most people’s minds are on getting ready for the holidays but as the New Year approaches, it’s time to start thinking about how you want to do things differently next year.

When you are running your business, it’s easy to get bogged down in day-to-day problems and forget about the bigger picture – “The Budget”.

Once your business is operational, it’s essential to plan and tightly manage its financial performance by creating a focus for the direction of your business that provides targets that will help your business grow.

Budgets are about preparing for the expected and putting yourself in position to survive the unexpected.

If unexpected events set you way off course this past year, you should consider building more safeguards into your 2017 budget. Look at your main objectives for the coming year and change or re-establish your longer term planning. This is the time of year to ready your business for the coming year. Is your team silently putting up with poor or out of date equipment which could actually be affecting their productivity? Even something as simple as new computer keyboards can do wonders for productivity.

As we mentioned – Budgets are about preparing for the expected and putting yourself in a position to survive the unexpected. A capital budget analyzes potential capital expenditures and helps determine where your company should invest their resources. This is vital for success because a company’s growth as well as its ability to stay competitive depends on its ideas for new products, new equipment and new – or improved facilities.

For instance, suppose you want to purchase a new $10,000 large-format color printer for your printing or graphic design company – first off, you would estimate the cost of the capital asset, then get bids from several vendors and come up with a likely total cost for the hardware, software, installation and maintenance.

But wait, there’s more – next you need to estimate the cash flow for the project, including the cost of the asset, working costs for supplies and maintenance, tax deductions for depreciation, a disposal date and a salvage value!

And most importantly – how much extra cash flow will come from the increased capacity of your new printer – and when?

What’s the chance that the new large format color printer will not generate additional revenue until say – Year 3? You should take that into account as you make your decision and recognize the risk inherent in your assumptions.

When doing your “Budget” research – you should also look into the cost of leasing and the benefits of a three year lease.

Equipment leases enable businesses to obtain equipment and machinery that has a high dollar value. This ranges from costly single items like heart monitors and extraction machinery to smaller items needed in bulk like kiosks, software licenses, chiropractic equipment, telephone systems and even coffeemakers.

Equipment leasing is a popular way for businesses of all sizes to affordably keep technology and equipment up to date.

Because most leases do not require a substantial down payment, leasing enables you to hold on to your cash and invest it in other areas of your business. Leasing offers substantially lower monthly payments in comparison to purchasing. But it still has to be factored into your monthly cash flow.

And more good news – Some equipment leases also qualify you for tax credits. Here is a great article that will show you some great tax write offs for Small Business in Canada:

http://madanca.com/blog/tax-write-offs-for-small-business-in-canada-by-accountant-toronto/

Considering an equipment leases for your business? If you’re looking for information to help you choose the one that’s right for you please contact us today and we will be happy to go through different leasing plans that suit your needs and most importantly – your 2017 Budget!