NEW SERVICE SPOTLIGHT: Furniture Purchase-Leaseback Program
Organizations may be able to free up cash for strategic investments and flexibly manage furniture inventory to meet their needs using a recently launched Furniture Purchase-Leaseback Program from CORT, a national furniture rental provider. Through this program, CORT will buy used office furniture from qualifying companies and lease it back to the company over 36 months or longer. Small to medium-sized businesses with more than 100 employees are the primary candidates for this Purchase-Leaseback Program, although transactions are evaluated on a case-by-case basis.
Under the program, facilities have no maintenance costs; CORT assumes responsibility for maintaining the furniture. And there are multiple options at the end of the lease term through CORT’s range of leasing, rental, and retail programs.
Companies of all sizes, from Fortune 500 businesses to initial start-ups, are investing significant time and resources in maintaining, redeploying, and storing office furniture. And many of these organizations use off-site storage facilities to help manage their office furniture inventory. When these hidden costs of ownership are tabulated (facilities, staffing and manpower, logistics and delivery, as well as the ongoing depreciation of unused assets) the total dollars expended can be significant.
“Wise use of capital is a requirement, especially in today’s economy,” said Larry Shapiro, who leads Strategic Client Services for CORT. “Most companies consider office furniture as a cost of doing business and fail to consider the alternative of renting furniture. CORT’s purchase-leaseback program enables companies to transform office furniture into cash for strategic, growth based business investments.”