Park Home Industry Continues To Lease
- Date: 04 May, 2022
Paying Monthly remains the Norm for Park Homes Industry
This could feel like the first “normal” season for the UK park home industry since 2019 with less concern about the impact of COVID following the relaxation of lockdown & social distancing rules and less disruption with bookings and reservations.
The Park & Leisure Homes industry is back and ready to make up for two years of disrupted trading. However, for many businesses looking to expand and grow, things feel far from normal.
The impact of Brexit combined with the hike in fuel and energy prices has seen park homeowners and operators suffer from an increase in the cost of materials across the board. Two years of disrupted trading means any spare cash reserves that had been accumulated for investment in the business have had to be used for daily running costs. For some, this means that no spare funds are available to invest in refurbishments, new equipment, or general expansion.
This lack of spare liquidity highlights why the industry needs, more than ever, to take advantage of Leasing and Hire Purchase.
This welcome, and established, source of equipment funding allows businesses to expand and refurbish their operations attracting holidaymakers who are again planning a staycation.
Using facilities such as Hire Purchase or Leasing means that almost any asset can be funded and paid for monthly.
This spreads the cost of new equipment over several years with, where applicable, seasonal payments linked to income. It can also enable businesses to release cash from the assets they already own should they choose to refinance them. For a full list of Assets and Equipment that can be financed read our Finance for Hospitality page.