Kitchens moving off gas want induction for the heat, the speed and the electricity bill, and the switch is far easier to justify when it is spread.
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Yes. Commercial induction hobs are funded as ordinary equipment on hire purchase or lease, either as countertop units or as induction modules within a cookline. Used units from trade dealers are fundable, though the market is thinner than for gas because induction is newer. The detail that catches people out is the electrical supply. Swapping a gas suite for induction often needs a bigger incoming supply, a new distribution board or a DNO application, and that work is a building cost with no resale value, so funders will fund the hobs and leave the electrics to you.
Used kit: Yes, though more cautiously than gas equipment. Dealers do supply refurbished induction units and funders accept them, typically at a lower age limit because the electronics date faster than a cast-iron burner.
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Business asset finance is quoted on a flat rate, so that is what this shows — with the equivalent APR underneath, because the two are not the same number. A quick guide only; your actual rate depends on the asset, term, deposit and lender.
Representative example: on Hire Purchase, borrowing £25,000 over 48 months at a 6.0% flat rate (equivalent to 11.5% APR representative), you would repay around £646 a month; total amount repayable approximately £31,000, of which £6,000 is the cost of finance. This calculator is for illustration only — it is not a quote or an offer of finance, and the rate and repayments you are offered will depend on the asset, term, deposit and your circumstances. CW Asset Finance is a credit broker, not a lender, and may receive a commission from the lender that funds your agreement. All finance is subject to status, affordability and lender approval. CW Asset Finance is an Appointed Representative of Rural Finance Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 630701).
Induction units are branded, serial numbered and portable, which makes them easier to recover than almost anything else in a kitchen, so funders are comfortable with the asset itself. Resale values are reasonable but not spectacular, partly because glass tops chip and partly because the used market is still shallow. As ever in hospitality, the credit decision is about the operator rather than the hob: length of trading, accounts, bank conduct, whether the site is a first venture. The electrical infrastructure is the part to watch. Supply upgrades and board work are classed as soft, non-recoverable cost, and where they outweigh the equipment itself a funder may prefer to write the whole thing as an unsecured business loan instead.
Examples of the machines we are asked to fund. This is not an exhaustive list — if what you are buying is not here, it does not mean we cannot fund it. Your supplier quote is what the agreement is written against.
| Machine | What it is |
|---|---|
| Falcon Dominator Plus induction hob | Heavy-duty four-zone induction top |
| Lincat Opus 800 induction hob | Modular induction top for cooking suites |
| Blue Seal Evolution induction range | Induction cooking module with oven base |
| Adventys induction hobs | French-built countertop induction tops |
| Target Catering Equipment induction suites | Bespoke British-built induction suites |
| Roller Grill induction hobs | Countertop single and twin induction units |
| Buffalo induction hobs | Entry-level countertop induction hobs |
| Electrolux Professional thermaline induction tops | Induction modules for bespoke suites |
| Zanussi Professional induction tops | Modular induction cooking tops |
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Restaurants and hotels moving off gas for energy cost or for kitchen comfort, dark kitchens and delivery-only sites where there is no gas supply at all, and hotels running live cooking stations in a breakfast room or at events. There is also a steady flow from care homes and schools where open flame is unwelcome. The trigger is usually a refurbishment, a landlord withdrawing gas, or a chef who has cooked on induction elsewhere and will not go back.
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Bought on hire purchase, business plant and machinery normally qualifies for capital allowances on the full cost even though you pay for it monthly, which is a large part of why hire purchase is the common structure. On a finance lease you generally set the rentals against profit instead. The rules change between budgets and your position depends on how you trade, so treat this as the direction of travel and get your accountant to confirm the detail before you commit.
Sometimes a proportion, rarely all of it. Cabling, boards and a DNO supply increase are works on the building, not equipment, so most funders exclude them. Where the hobs make up the bulk of the invoice and the business is well established, some will allow the installation as a minor soft cost. Get it quoted as a separate line either way.
Ferrous pans are a real cost and worth budgeting for, but they are consumables rather than assets, so they will not go on an asset agreement. What some operators do is fund the hobs and put the pan replacement on a short working capital facility, or simply absorb the pans and fund the hardware that has a serial number.
Yes, and delivery-only kitchens are a growing part of this market. The funder will want to understand the site: who your landlord is, whether you hold a licence or a lease, and how long you have been trading. Short licence agreements in shared kitchen facilities can be a sticking point, so have your paperwork ready.
Reasonably, but not as well as heavy cast cooking equipment. The electronics and the ceramic top age, and the second-hand market is smaller than for a Falcon gas range. That means the funder leans more heavily on your accounts than on the kit, so a strong trading record matters more than which brand you specify.
Yes. A mixed cookline with induction zones, a gas range and a chargrill goes onto a single schedule perfectly happily, and funders prefer it because a bigger, varied asset list is easier to place than one small hob. It also leaves you with one payment and one end date rather than three.
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