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Other finance solutions
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About SilverChef
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Other finance solutions
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About SilverChef
Equipment finance solutions that help franchisees conserve the cash they need to set up, run and grow their business.
The price of a hospitality franchise can run into six figures, and then there’s the cost of setting up, running and maintaining the store, all of which can put pressure on a franchisee’s cash flow.
By financing your equipment, SilverChef can minimise your upfront costs when you’re fitting out or refurbishing your store or replacing equipment — freeing up cash to pay for wages, rent, stock, franchise fees, business expansion, and unexpected surprises.
We provide equipment finance for new stores being established by either existing, multi-unit franchisees or new-ABN franchisees.
We’re one of the few lenders who provide finance to franchisees setting up stores in greenfield locations.
If your equipment needs to be replaced because it’s reached the end of its useful life, we can finance the replacement equipment for you.
We also finance national equipment rollouts, which
can speed up the adoption of new technology among franchisees or enable them to introduce new product lines to boost sales.
Accredited franchise systems can fund the cost of refurbishments over 1–5 years at an interest rate that reflects their business circumstances.
We’ll finance not only your commercial kitchen equipment, but also any signage, painting, cabinetry, tiling, or new bulkheads that you require.
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Please note that accredited franchise systems get a 20% discount on the weekly rental amount.
Franchise systems accredited with SilverChef are allocated specific amounts of equipment funding, making it quicker and easier for their existing and prospective franchisees to access the funding.
Whether the franchisee is applying for funding for a new store, a scheduled refurbishment, or a national equipment rollout, they can expect a seamless and hassle-free experience.
Accredited franchise systems enjoy the following benefits:
Easy access to funding for all current and prospective franchisees
Eligibility for larger funding amounts
Discounted rates across both our franchise financing solutions (Rent–Try–Buy and Lease-to-Keep)
Extended 12-month warranty on ‘Certified Used’ equipment (normally 3 months)
Dedicated relationship manager for head office and franchisees
Marketing assistance to communicate the offer to your franchise partners.
If you’re unsure whether your franchise system is already accredited with SilverChef, please contact us.
We’ll finance virtually any type of commercial kitchen equipment that helps your business make a profit.
The equipment must have an invoice value of $1,000 or more (Rent–Try–Buy) or $10,000 or more (Lease-to-Keep).
As Rent–Try–Buy is a rental agreement, there is no interest rate.
However, you can use our online rental calculator to find out how much it would cost to own the equipment if you rented it for 12 months before buying it from us.
As the calculator reveals, the net cost of owning the equipment would be 10% (after taking into account tax deductions and the rental rebate).
In addition, accredited franchise systems receive a 20% discount on their weekly rental payments.
The Lease-to-Keep interest rate is based on your business circumstances.
Depending on the amount you borrow, how long your business has been trading, whether it has enough cash to service the lease, and its creditworthiness, you may be charged less than our official rate.
To find out the rate that would apply to you, please call us on 1800 337 153.
A director’s guarantee is typically not required for Rent–Try–Buy funding amounts under $100,000.
This funding is secured using the rented equipment as collateral. So, if your financial circumstances change and/or you no longer need the equipment, you simply return it to us.
A director’s guarantee is required for all Lease-to-Keep agreements (regardless of the lease equipment’s value).
Franchisees are responsible for arranging and paying for maintenance and repairs to their rented or leased equipment.
(If the equipment is under warranty when it breaks down, we’ll help you organise a free repair, replacement, or refund.)
While Rent–Try–Buy is a 12-month agreement, you can buy your rental equipment at any time — you won’t be penalised.
You’ll just need to give us four weeks’ notice of your intention to buy (or ‘pay out’) the equipment.
If you buy the equipment, you’ll get back 75% of the net rent you paid in the first year (and — if applicable — 25% of the net rent you paid thereafter). You can put this money towards the purchase price.
You can pay out your leased equipment before the end of the 1–5-year finance term (whichever applies), however you’ll be required to pay a $300 early-termination fee.
To confirm what your payout amount is, please contact us.
If you sell your store while renting or leasing equipment from SilverChef, you can ask us to assign, or transfer, the rental or lease agreement to the new franchisee (with their consent).
The agreement will be assigned to the new franchisee only if they meet our standard credit-assessment criteria (otherwise, you’ll remain liable for the rental or lease payments).
If it’s a rental agreement that’s assigned to them, the new franchisee can use the rental equipment for the remainder of the agreement and is entitled to all the mid- and end-of-term options you were.
If it’s a lease agreement that’s assigned to them, the new franchisee can continue paying for and using the equipment for the remainder of the agreement, before taking ownership of it.
