Should I purchase hair salon equipment or lease?

There are advantages to both. When you buy, it is yours to keep but you have to pay for repairs. When you lease usually the company you lease from maintains and repairs the equipment. Sometimes you can find companies where you can lease to own, the best of both worlds. Leasing/lease to own however cause you to pay way more than the cost of the equipment. Lets say you lease equipment for $250/mo. for 24 months. You most likeley could have purchased the same equipment for $2500 to $3500 instead of the $6000 you paid, and then you have no more payments so you net more profit. It is clearly a business choice that you must make, taking into account clientele, future earnings and any other payments you will have to make for electric, building lease etc. You should also check with the small business administration to see about a grant to help you purchase needed equipment. go to www.sba.gov because grants are monies you do't have to pay back, like a loan. As far as reputable leasing companies, it depends on where you live, check your local yellow pages and see what each company offers.Good luck in your endeavors, I wish you great success. Susu