When you start a small business or start a new business, it is often difficult to decide whether to buy or lease critical business equipment.The photocopier is one of the most valuable and essential tools in every office and it should have all the features you need as well as be proficient in the use of ink cartridges. The decision to buy or photocopier hire is often a difficult one.Below we outline the most important issues for choosing between buying or renting a photocopier for your small business so that you can weigh it for yourself and make the right decision.
Advantages / disadvantages of buying a photocopier
- Obviously one of the main advantages of buying a photocopier is that you have to pay in advance, if you rent the same thing, you will pay less for it in the long run.
- The photocopier performs specific functions and can be used for similar functions for years to come. If you buy a quality photocopier that you can use for a specific purpose, there will be no need to upgrade its technology and so the photocopier becomes a significant investment.
- If an upgrade is required, if this is your photocopier you can modify it to suit your business needs. For example, instead of renting a whole new system and deciding which model to upgrade to, you can simply replace your current unit with more RAM or you need something else and you will only need to pay for the upgrade.
- On the other hand, if you feel that your business needs to be constantly upgraded, leasing will allow you to upgrade with a new photocopier without having to renegotiate the lease terms.
- If you have a photocopier, you can use it as needed in your business and for a variety of purposes as you see fit. If you decide to buy a new photocopier down the track, you can always sell the old one.
Advantages / disadvantages of leasing a photocopier
If you are a start-up business, it would be better for you to take photocopier on rent for cash flow reasons. That way you have a set amount to pay each week or month, with no major initial costs. This will free up your money to distribute to other areas of the business, however you will pay more for the item in the long run.
- Don’t get caught up in lease contracts that will involve you in unnecessary service contracts and the purchase of consumables by the leasing company (usually 2-3 years), at which time your photocopier will become obsolete.
- Like most modern photocopiers, service contracts are unnecessary, rarely requiring service. A manual with your photocopier will provide you with troubleshooting guidance, and the only last resort you should consider is a technician.
- Consumers shop better independently wherever you have a price choice in a high street store or through an online company. Either way the price will be more competitive – don’t agree to a deal per page.
If you are a business that needs a photocopier with the latest printing techniques, leasing can be a good solution as leasing companies allow you to upgrade the item without having to renegotiate the lease payment. Which you are leasing. This will be especially useful for businesses that need to keep up to date with photo printing and graphics printing technologies. Keep in mind that at the end of the lease you will not have the item and will have to rent another one.
If leasing is a more appropriate option for your business, the most important thing to remember is to really understand your contract. Find out how long you want to stay locked in the lease agreement and how the payment will be made. Double check any service charges or add-on costs.