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Financing your synthetic grass project | TurfAdvisors

Financing your synthetic grass project and the sometimes-unrealized benefits you may not be thinking about

Mike Wasko

Sales Manager and Vendor Relations Developer, North Star Leasing

Mike Wasko is a Sales Manager and Vendor Relations Developer at North Star Leasing.  Mike has been working in the synthetic turf industry for 4 years and is the owner of 2 dogs.  Mike can be reached at mwasko@northstarleasing.com

Financing your synthetic grass project and the sometimes-unrealized benefits you may not be thinking about

Did you know you can finance your synthetic grass project and installation?

It’s true.  When most businesses think of financing equipment, the purchase of synthetic grass is the last thing they would consider to be eligible.  While this is true for banks and some other lending institutions who don’t view synthetic grass as an asset, North Star Leasing not only finances it, but is also a pet friendly business who understands both the realized and unrealized value of artificial turf being implemented in the pet industry.

Almost any commercial application of synthetic grass acts as an upgrade to your facility, whether you are a doggy daycare, school, childcare facility, sports facility or any other public space. The reduction in maintenance costs are a major reason to consider making the upgrade to synthetic turf, but if you are in the pet services industry, I have found there to be many tangible and intangible benefits. A synthetic grass to upgrade your facility will keep the dogs clean, give them a safe surface to play and move, all the while saving your staff time and energy by not having to clean each pet, which means (most importantly) saving money for you as a business owner.   You can charge more per pet with the addition of a synthetic play surface, there is increased customer awareness of your facility and increased customer/pet retention rates. Facilities with play areas covered in synthetic grass experience a huge reduction of injuries, skin irritations and grass allergies to their pets. This cuts down on the large amount of medical bills and medical liability associated with the care someone’s pet. Add these benefits together with the tax benefits and the ability to finance your synthetic turf upgrade and it’s an opportunity you need to take advantage of.  Consider the sample ‘Doggy Daycare’ financial benefits analysis below:

DOGGY DAYCARE BENEFITS AFTER SYNTHETIC GRASS INSTALLATION

Benefits +/- Calculation Revenue
Justifies 10% price increase + $3/dog $3 x 30 dogs = $90 x 260 days $23,400
Attracts new customers + 5 dogs 5 x $33 = $165 x 260 days $42,900
Increased customer retention +2 dogs 2 x $33 = $66 x 260 days $17,160
Cost savings on maintenance Materials Woodchips, gravel, mowing $5,000
Reduced injuries, incidents Liability Vet bills, lawsuits $2,000

TOTAL ANNUAL SAVINGS / ADDITIONAL REVENUE: $90,460

 

The financial benefits for a doggy daycare or other pet service receive from the installation of artificial grass are clear as outlined above.  With proper planning most new grass projects end up paying for themselves in mere months from the increased revenues.  Bundle this with intangible perks like improved customer experience, limiting your liabilities as a business owner and having a safer place for pets to play and interact with staff and it’s an opportunity not to be missed.

Listed below are two case studies which demonstrate how both a doggy daycare and a pre-school each benefited from financing their synthetic grass:

A doggy daycare in Illinois was doing some major renovations to their kennels and 3-acre property. Due to the seasonal weather fluctuations in Illinois they desired a cleaner and lower maintenance solution for their large outdoor play area, of which a portion wasn’t even usable.  8245 square feet of artificial grass was the solution of choice but with so many other big projects already under way, another line of credit or bank loan wasn’t available.  They reached out to North Star Leasing for help in financing their $126,960 project. If not for the dealer proactively offering a financing option to them, this project would not have been possible.  Now actively promoting the new state-of-the-art play area on both social media and their website, the new customer growth has been

A successful pre-school in Massachusetts needed an artificial grass solution for their outdoor play area to combat mud and maintenance, but unfortunately the direct outlay of $33,000 was too cost prohibitive at first look.  By asking their turf dealer about financing options they soon discovered that financing the grass project was easier and more affordable than they ever knew.  So much so, that after the first project was completed, they immediately made plans to order additional grass to cover the outdoor play yard at their second location.

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