5 Ways To Save Money On Business Machinery
Machinery can be a big expense for many businesses. Whether you’re buying office computers or forklift trucks, here are five ways in which you can cut costs.
Know your needs
You don’t want to waste your money on machinery that is beyond your needs – or that you’re unlikely to use at all. A heavy duty industrial printer capable of printing thirty sheets per minute isn’t necessary if you’re not going to print more than ten sheets per day. Assess your needs before buying machinery so that you’re not overspending on gimmicks.
Look for gently-used machinery
Used machinery can be a lot cheaper than brand new machinery. However, you don’t want to buy machinery that is too used – you could find yourself splashing out on more frequent repairs or even an imminent replacement. Machinery that is advertised as ‘gently-used’ is your best option. Such machinery is cheaper than brand new machinery but also not very worn.
Look out for coupons and discounts
If you’d prefer to buy brand new machinery, you can still save money by looking out for coupons and discounts. Business machinery traders will often have sales in which prices on certain machinery is reduced. You may also find coupons for machines like office PCs on coupon sites. January is a good time to find discounts on machinery – the reduced demand during this period of the year causes many traders to lower their prices.
Lease, hire or outsource
Buying isn’t the only way to acquire machinery. It could work out more affordable to lease, hire or outsource machinery in some cases. Leasing involves paying a monthly rental payment – it’s cheaper up front and you have the option to upgrade once the lease is up, however you may pay more in the long run than buying. Hiring machinery is useful for single-use equipment – if you own a cleaning company and need a floor-scrubbing machine for a single job, you can pay a single fee to hire it for the duration that you need it. Meanwhile, you may be able to outsource entire services to other companies to save money on certain machinery. For instance, rather than buying a laser cutter, you can look into outsourcing laser cutting services. This is useful if you don’t have the space for the machine or if you don’t have the skills to operate it.
Keep on top of maintenanceKeeping machinery maintained will prevent it from getting damaged. This could mean spending less money in repairs in the future. Make sure that you keep machinery serviced so that you can spot any problems early. Certain machinery may also need to be cleaned and lubricated regularly to keep it fully-functioning. You’ll usually be able to do this maintenance yourself, however more complex machinery may require hiring a professional to service and clean it (such as laboratory equipment).
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