Lease or Buy Your New Office Furniture and Fit Out?

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Leasing office furniture and equipment is a great option for many companies depending on their office equipment and furniture needs, financial situation and line of business.

Often companies do not have or do not wish to tie up capital available to buy office furniture and equipment outright; or to finance a fit out or relocation.  Understandably companies are generally also not keen to tie up crucial bank credit lines for this type of project. Leasing allows them to spread the cost over two, three, four or five years, acquiring the solution that meets their long-term needs rather than that which their current budget and cash flow dictates. It also allows businesses to carry out refurbishments straight away. Lease payments are fixed for the term of the lease – normally 2-5 years – making it easy to budget for a monthly, quarterly or even annual payment and budget accordingly.

However, leasing office equipment and furniture ties businesses into an on-going agreement so it is therefore very important to think carefully about what the office furniture and equipment needs and also about the way the business is likely to develop in the future. Key factors to consider are how often a company relocates, how important is it to keep up with technology changes and is it important to use capital budget for R&D marketing or staff rather than office refits and refurbishments? In these cases, leasing may well be the ideal way to keep the workplace current and to ensure that upgrades can be organised with minimum hassle in the future.

Nowadays, the right workspace – including acoustics, lighting, flooring, decoration and furnishings – play an important role in attracting and retaining the right kind of staff. After all, creating an ergonomic space with appropriate tools for a person to do their job well benefits employers through increased productivity and reduced absenteeism. But innovative, creative spaces normally require new equipment and furniture. With leasing companies can create the exactly right image and environment, deciding exactly what furniture and equipment they want (including a custom build) and have it financed under a lease agreement.

When deciding whether to lease or buy, companies should review their cash reserves, cash flow and credit lines, and ensure they understand the terms and conditions of the lease, for example, what happens at the end of the lease; are upgrades included; required insurance on the equipment as well as early cancellation fees. Understanding exactly what the business needs are and what the purpose of the office equipment, furniture or refit is will help companies to make the right decision.

Download the Office Furniture and Fit Out Brochure for more information about leasing your dream office.

See here for a free Office Move Project Planning Tool

Office Furniture Equipment: Lease cost £466.37/Monthly

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WestWon provided a company based in Wokingham with a lease agreement for 2 Managers Desk 180 x 90-100cm via a WestWon Partner who supplies Managers Desk 180 x 90-100cm equipment.

Capital Cost: £21,121.98 ex. VAT

Lease Rental: £466.37 ex. VAT

Payment Frequency: Monthly
Lease Period: 5 Years

ManufacturerModelDescriptionPart No.Quantity
Managers Desk 180 x 90-100cm2
Single Wave Desk 160 x 80-90cm3
Single Wave Desk 140 x 80-903
Under Desk Mobile Pedestal8
Amia Task Adjustable Seat7
Chic Red Tub Chair6
Pass Partout Red Meeting Chair6
Silver Finish Monitor Arm8
Desk Lamp 56cm H2
Storage Run 200×47.2x220cm1
Storage Run 120×47.2x100cm1
Storage Run 200×47.2x220cm1
Storage Run 200×47.2×203.7cm1
Storage Run 200×47.2x100cm1
Storage Run 50×47.2×117.7cm1

Office Furniture & Boardroom Equipment: Lease cost £19,826.69/Monthly

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WestWon provided a company based in Slough with asset based finance for a range of Office Furniture and Boardroom equipment via a WestWon Partner who supplies Office Furniture and Boardroom equipment.

Capital Cost: £1,044,609.52 ex. VAT

Lease Rental: £19,826.69 ex. VAT

Payment Frequency: Monthly
Lease Period: 5 Years

ManufacturerModelDescriptionPart No.Quantity
As per schedule of equipment 80507211

2 Seater Club Reception & Office Furniture Equipment: Lease cost £578.14/Monthly

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WestWon provided a company based in Reading with a lease agreement for 2 2 Seater Club Reception – Black Leather via a WestWon Partner who supplies 2 Seater Club Reception – Black Leather equipment.

Capital Cost: £23,955.44 ex. VAT

Lease Rental: £578.14 ex. VAT

Payment Frequency: Monthly
Lease Period: 5 Years

ManufacturerModelDescriptionPart No.Quantity
2 Seater Club Reception – Black Leather2
4 Person Bench Desk 280 x 163cm2
4 Person Bench Desk 240 x 163cm1
Under desk mobile pedestal 42 x 59 x 60cm12
Acrylic Screen frosted white 140 x 38cm4
Acrylic Screen frosted white 120 x 38cm2
Task Exec Chair Mesh Back Black Gloss12
Oval Meeting Table 200 x 110cm1
Meeting Room Chair, black Mesh & fabric6
6 Person Bench Desk 420 x 163cm1
2 Person Bench Desk 140 x 163cm3
L Shaped Desk 160 x 160cm incl modesty panel2
Under desk mobile pedestal 42 x 59 x 60cm14
Acrylic Screens frosted white 140 x 38cm5
Task Exec Chair Mesh back, black gloss14
Flip Top Meeting Table 460 x 140cm1
Meeting Room Credenza 160 x 48cm1
Meeting Room Chair black mesh, black fabric12

2 Seater Club Reception & Office Furniture Equipment: Lease cost £578.14/Monthly

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WestWon provided a company based in Reading with a lease agreement for 2 2 Seater Club Reception – Black Leather via a WestWon Partner who supplies 2 Seater Club Reception – Black Leather equipment.

Capital Cost: £23,955.44 ex. VAT

Lease Rental: £578.14 ex. VAT

Payment Frequency: Monthly
Lease Period: 5 Years

ManufacturerModelDescriptionPart No.Quantity
2 Seater Club Reception – Black Leather2
4 Person Bench Desk 280 x 163cm2
4 Person Bench Desk 240 x 163cm1
Under desk mobile pedestal 42 x 59 x 60cm12
Acrylic Screen frosted white 140 x 38cm4
Acrylic Screen frosted white 120 x 38cm2
Task Exec Chair Mesh Back Black Gloss12
Oval Meeting Table 200 x 110cm1
Meeting Room Chair, black Mesh & fabric6
6 Person Bench Desk 420 x 163cm1
2 Person Bench Desk 140 x 163cm3
L Shaped Desk 160 x 160cm incl modesty panel2
Under desk mobile pedestal 42 x 59 x 60cm14
Acrylic Screens frosted white 140 x 38cm5
Task Exec Chair Mesh back, black gloss14
Flip Top Meeting Table 460 x 140cm1
Meeting Room Credenza 160 x 48cm1
Meeting Room Chair black mesh, black fabric12

Opus & Opula Office Furniture Equipment: Lease cost £1,319.54/Monthly

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WestWon provided a company based in Stratford-upon-Avon with a lease agreement for 1 Modular Reception Desk via a WestWon Partner who supplies Modular Reception Desk equipment.

Capital Cost: £60,280.34 ex. VAT

Lease Rental: £1,319.54 ex. VAT

Payment Frequency: Monthly
Lease Period: 5 Years

ManufacturerModelDescriptionPart No.Quantity
Modular Reception Desk1
600mm Diameter Poseur Table3
800mm Diameter Mid Height Coffee Table7
White Bar Stool Seat9
Break Out Seating Two Tone28
900mm Wide Training Room Tabls incl Modesty Panels47
Barrel Shape Meeting Table incl Flip Top Socket Housing & Cable Tray2
Opula Meetin Chair in Black Leather24
Opus Operator Chairs126
Storagewall Run 02 light grey 1000x472x2700mm6
Storagewall Run 03 light grey 1000x472x2700mm4
Storagewall Run 04 light grey 1000x472x2700mm5

Tips For Start Up Businesses Thinking About Leasing Office Equipment, Office Furniture & Fit Out

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For new start ups financing the cost of launching a new enterprise can be a huge challenge in today’s economy. Office equipment, office furniture and office fit out, for example, is one expense that most new companies incur and it can be quite costly depending on the type of business you are starting. Leasing office equipment is therefore a great alternative to purchasing because it offers many advantages such as the ability to pay for the items required over their useful lifespan.

An equipment lease is basically a rental agreement where a leasing company (the lessor) maintains ownership of the equipment and the business (the lessee) uses it in its business operation.  Leasing for office desks, computers, hardware, printers, IT infrastructure or copiers- or even an entire office fit out including partitions, acoustics, flooring, lighting etc –  can generally be arranged quickly and simply in a few easy steps. But what are some of the questions business owners need to consider when arranging a lease agreement?

What equipment can I lease?

There are generally few limitations on the types of products that a leasing company can arrange leasing for, although there are variations between different leasing companies. Some leasing companies have particular expertise in a sector and may be able to recommend suppliers as well as help you select the best product based on use and potential upgrades. In addition, installation costs and maintenance agreements can sometimes be included in a lease agreement.

What kind of leasing payment options are available?

If, for example, you run a seasonal business it may be possible to arrange a lease payment plan that suits your market.  It is a good idea to ask your chosen leasing company what flexibility there is in this regard.

What kind of support does a leasing company provide?

It is always preferable to work with a company that has support and resources readily available. Ask yourself how easy it is to contact the company, for example, phone, email, instant online chat, etc. What type of resources do they make available for you online? If the company web site offers articles, videos, FAQ section and a lease cost calculator and a blog about leasing consider it a major plus.

What about my credit score?

It is a good idea to compare leasing companies to find one that meets your needs, but it is not advisable to submit multiple lease applications as it may adversely affect your credit score. While the assets being leased serve as collateral, the credit standing of the business owner can form an important part of the approval process. For more information about equipment leasing and office furniture leasing, call WestWon on Tel: 01494 611 456 or download the Free Guide To Business Leasing For Start Ups

Download the Office Furniture and Fit Out brochure HERE

Free Office Move Planning tool HERE

A Wonderland World Of Connection Furniture At Clerkenwell

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Reflecting on 2 days well spent at Clerkenwell Design Week 2014 visiting over 60 showrooms open to the trade and public, one display that really stood apart was that of Connection.

Not only was the Connection showroom in a beautiful location, it was staffed by extremely well-informed and enthusiastic staff, who guided visitors ‘Down the rabbit hole’ into a mystical story full of life and wonder (and quirky ‘Eat me, Drink me’ delicacies to sample on the way round).

First there were the ‘Queen of Heart Chairs’ – three chairs set out in a podium manner.  The red ‘queen chair’ – to fit the Queen of Hearts theme –  was the centre piece and was also decorated with a golden crown for added dramatic effect.

Round the corner was the ‘Mad Hatters Tea Party’, highlighting Connection’s new range of breakout furniture. With hats hanging from the ceiling, a vintage tea pot and sweets galore, the showroom definitely gave the Mad Hatter a run for his money

Next came the enchanted garden complete with giant multi-coloured spotted mushrooms, and also the place where the Cubbi’ and ‘Why S’ systems were on display. These systems have been created for short period breakout sessions for one or two people only and come with cushions created out of a material which was still comfortable but not as luxurious as the ‘Thynk back high chair’. The systems allow users to sit in comfort but not for an extended period of time, have in-built acoustics and cater for Skype calls.

Emerging from ‘the rabbit hole, visitors could then view the Hive break out systems and the ‘Xpresso one’ casual meeting range, which were also on show.

In terms of experience and imagination, Connection put on a wonderful display that was hard to beat. And the same could certainly be said of their furniture range!

For more information about leasing Connection furniture as seen at Clerkenwell, call the WestWon Office Furniture and Fit Out team on Tel: 01494 611 456 or download our latest Office Furniture Leasing Brochure.

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