A burger restaurant has become one of the first in the UK to install a kitchen on a hire basis with the option of buying it, extending the hire or handing it back after 12 months.
Burgers@N8, which is based in London’s Crouch End, has made use of a new service called U-Select offered by PKL, the UK’s largest catering equipment hire firm.
The restaurant is housed in former shipping containers and the businessmen behind the concept had very specific ideas of what they needed in terms of catering equipment. However, they also wanted to remain independently owned so were looking for a solution to allow them to procure the equipment they needed without searching for further capital.
After assessing Burger@N8’s requirements, PKL recommended the U-Select ‘Try It, Buy It’ option, which means that U-Select buys the equipment and then hires it back for a weekly payment.
When the minimum 12-month contract ends, there is the option for the caterer to purchase the equipment at a reduced rate, carry on hiring it, or simply hand it back. This means that as a start-up company no capital outlay is required and cash flow can be planned, making the first year of trading much easier.
Speaking about the concept, Burgers@N8’S co-founder Ali Mehmet said: “U-Select provided us with a flexible funding option which meant we were able to retain full control of our business but without compromising our catering needs. I’d definitely advise anyone starting up a company in the catering sector to speak to U-Select and look at the various options available as there is something to suit most types of businesses.”
Cheltenham-based PKL is positioning U-Select as a unique new way for businesses, from start-ups through to large organisations, to seek advice and procure commercial catering equipment via a suite of different options.
The U-Select website uses graphics to enable caterers to see at a glance what type of catering equipment a typical café or sandwich bar, for example, may need and the various hire pricing options available for them.
Once a business has an idea of what they need, they can choose from a range of flexible procurement options which includes rental, hire and lease purchase and a choice of new or U-Select stock equipment.