From time to time, there comes an idea that sets tongues waggling. There was Facebook and Twitter in social networking and Groupon in discount deals in the recent past. Nowadays, it is the concept of equipment leasing. The idea has been around for quite some time but it has recently caught the fancy of small and medium businesses.
So, let understand why all the hype around a concept which has been sticking around from quite some time now.
Probably everyone knows what equipment leasing is but still for the sake of those scratching their heads, Equipment Leasing is the concept in which the user of the service leases the equipment from a service provider after entering into an agreement which mentions monthly fee being charged and other related details.
What made the concept grab eyeballs out of a sudden was the way Northern Leasing, a firm operating in the same business, marketed themselves.
The firm emphasized on the points which were downplayed by other players and the same caught the attention of entrepreneurs. One of the mentioned features is that in equipment leasing, one doesn’t have to make a mindboggling down payment as in case of purchasing.
Also emphasized by the Northern Leasing is the option of Skip Lease. By availing the feature, one can delay or skip the pending fee if the business is going through a slowdown. And guess what? The client is not charged plenty for the same!
The fact that applying for a loan involves a lot of hassles and paperwork was also put forward. No such thing is required in case of leasing, retorted Northern Leasing. In fact, the process of leasing could be undertaken online and most of the work, including the installations, is taken care of within half a month.
From the angle of tax too, leasing is a money saving factor. By focusing in the discussed points, Northern Leasing won the race by a horse which people thought had a broken leg. Well, this is how bright firms distinguish themselves from their rivals in the market. Don’t they?
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