Hospitality Financier Silver Chef Reports Record NZ Growth

MEDIA RELEASE 02 APRIL 2013

Hospitality Financier Silver Chef reports record growth in the New Zealand market

Hospitality Equipment Financier Silver Chef today announced strong, solid growth in the recent November to March period on last year’s results in the New Zealand market.

With over 25 years’ experience providing flexible equipment funding in the Australian hospitality industry, Silver Chef launched in New Zealand in October 2011.

Chief Executive Officer Charles Gregory said Silver Chef’s success can be attributed to their unique alternative to traditional finance options – an offering unlike anything else currently on the market.

“Until Silver Chef’s Rent-Try-Buy model, no finance product has catered specifically for the hospitality industry.

“Our dedicated knowledge and expertise coupled with the flexibility of our offering gives us an edge over our competitors and makes us the perfect choice for those operating in the hospitality industry,” Mr Gregory said.

Franchises such as The Original California Burrito Company, The Coffee Club and Crust Gourmet Pizza have already taken advantage of Silver Chef’s offering in national equipment roll outs and with new store openings.

Jeff Moss, Director of Barrow and Hudson Limited, which is the franchisor of The Original California Burrito Company, said the fast food chain is an accredited franchise system with Silver Chef.

“This means that our franchisees are pre-approved for finance on their kitchen equipment and simply have to complete a one page application for their funding to be in place – it’s very simple,” Mr Moss said.

With 100% tax deductible repayments and off balance sheet funding, customers can preserve their much needed cash flow, which gives them the freedom to run their business the way they intended and without affecting their ability to borrow from other lenders.

Mr Moss said his business would not have been able to grow so rapidly without Silver Chef’s help.

“Silver Chef has been there for us from day one, providing finance when we had just started and didn't have a track record to be able to secure major bank funding.

“As a start-up it is invaluable funding at a point in time when traditional finance is hard to secure, and as an existing business it is a simple way to fund additional equipment if needed at short notice,” Mr Moss said.

Silver Chef’s Rent-Try-Buy model offers customers a short 12 month agreement, and they can upgrade their equipment or purchase at any time.

What’s more, customers are entitled to a 50% net rental rebate if they choose to purchase within the first year, so the rent money is never dead money.

Silver Chef’s flexible finance option caters for both start-up businesses of people with no hospitality experience, and existing businesses, including restaurants, cafés, takeaways, pubs, clubs and hotels.

--

About Silver Chef
Silver Chef was established in 1986 to help businesses fund their equipment needs through its Rent-Try-Buy Solution. This keeps their options open and preserves their cash to grow their business. Silver Chef Limited is an Australian Securities Exchange-listed company (ASC Code: SIV) focused on long term rentals of commercial equipment to small-to-medium enterprises. The company has nation-wide operations and operates under two brands: Silver Chef – hospitality assets; and GoGetta – broader commercial equipment.

ENDS

© Scoop Media