A Success Story – SilverChef Group
SilverChef started as a failed attempt to supply Pizza Hut with innovative pizza ovens – now it’s a whole new way for kitchen equipment dealers to secure and support customers.
Starting a restaurant is tough and can be financially intimidating. In America, about 30 percent of restaurants close in the first year, and roughly 80 percent close within five years.
SilverChef Group have helped almost 100,000 hospitality operators start and grow their business globally.
One of the biggest financial drains – equipment.
Why the kitchen equipment financing industry remains stagnant
The solutions to the costly equipment problem often include purchasing second-hand equipment or turning to kitchen equipment leasing. For decades, the hospitality industry has been solely dominated by financing, lease, or lease-to-own models. With such high restaurant attrition rates, these options can often apply more pressure than relief.
In the 1980s, Allan English was working as a hospitality equipment dealer in Australia. After acquiring a large number of pizza ovens in the hopes of making a Pizza Hut deal, English learned the deal wasn’t going through. Stuck with so many ovens and financiers to pay back, he was forced to come up with a solution, and that solution was Rent-Try-Buy.
Operators require ease, affordability, and flexibility – so why not offer an opportunity for financially-strapped operators to rent now with the option of swapping out the equipment or buying later? After receiving feedback from restaurateurs, the Rent-Try-Buy model evolved to include a rebate toward purchase and more.
What this means for dealers
For dealers, SilverChef offers them a new conversion driver and opportunity to create long-term value for customers. For mom and pop restaurants, it is a way to afford kitchen equipment without breaking the bank.
Rent-Try-Buy, championed by SilverChef Group, has supported nearly 100,000 customers globally since the 1980’s. Now, SilverChef USA, part of the Australian-founded hospitality equipment financier SilverChef Group, is available in the U.S. – led by President of U.S. Operations Jon Jacobs.
Jacobs himself knows exactly what operators need, having started as a restaurant owner himself. Now, after more than 25 years of foodservice equipment industry experience, he understands the realities hospitality operators face. Flexibility and freedom are decisive advantages in today’s market. Rent-Try-Buy connects dealers with operators to offer smarter growth without compromising cash flow which ultimately leads to a healthier, more resilient business and hospitality industry overall.
The hospitality industry right now is tough. Between declining margins, inventory management, and shifting customer demands, offering flexible financing via Rent-Try-Buy can support business growth and end user satisfaction.
SilverChef customer Screenhouse BBQ used Rent-Try-Buy to grow their Atlanta based BBQ business.
Key Takeaways:
- Competitive pressures require innovative solutions
- Operators are looking for more flexibility in equipment financing
- Rent-Try-Buy model can diversify dealers’ ability to secure customers
- A new tried and tested finance model for financing restaurant equipment has been brought into the US
Bring SilverChef into your dealership today to learn how Rent-Try-Buy can support your customers to grow smarter. Bring SilverChef into your dealership today to learn how to sell more!
