Nisbets earned £791,000 from the leasing of catering equipment last year, analysis of its latest financial accounts reveals.
The figure is an incredibly small part of Nisbets’ £380m turnover – less than 1% in fact – but it is significant for the fact that it’s up 82% on the £434,000 it booked the previous year and comes after the company pinpointed leasing as a potential growth area.
Last year it launched a programme to finance large-ticket catering items through Chef Leasing Ltd, a wholly-owned Nisbets subsidiary that was incorporated 14 years ago.
Nisbets’ initial leasing offer has focused on its Polar refrigeration line and Thor heavy duty cooking equipment products.
Earlier this year, group CEO, Klaus Goeldenbot, told FEJ that leasing was an area he planned to monitor closely going forward.
“We are spending more time to understand our customer requirements, using data to find out what customers really need and then basing our decisions on that,” he explained. “At this point in time I think we need more insight from the customer so that we can prioritise because there are so many ideas floating around. But certainly the development of financial products is an interesting area.”
Asked whether his instinct tells him that the catering equipment market will move more towards leasing in future, Mr Goeldenbot responded: “How big it will become, I don’t really know at the moment to be honest. But I think you need to give the customer choice and then we will see how far it goes. It is a bit like the e-commerce discussion — how big will that be one day? If you don’t offer ecommerce then you are gone, I’m not sure that leasing is of the same importance but what we have picked up from customers is that there is a need for it, which is why we launched it.
“The market will decide whether it becomes a bigger element of the offering for us, but it is becoming a part of the menu in the current climate because people are finding it difficult to secure funding for capital equipment.”