BUYING EQUIPMENT; WHAT TO CONSIDER

Posted on 29th June 2018 by EquipDom


A handy guide



Every business well managed will sooner than later be on the rise, growth, and with that will come more demand from clients, and more needs for you. So, it’s about time you consider cutting out renting and just getting your own equipment, and while choice is power, making the right choice is profit, so the right equipment will go a long way in doing a nifty job of satisfying clients, raking in profit and giving you a great ROI.


Here’s what to consider when you get to that point where you decide to finally buy your own equipment;


Need vs. Want


While it is true that your venture may be on the rise, sometimes it serves greatly to not just consider a sticky situation as one of the reasons for getting your own equipment, because certain equipment are better off rented than owned at certain times.


Make sure you think objectively about the pros and cons before coming to a decision, else you may confuse your WANTING your own equipment with NEEDING it, and in business it is the needs that count.


Cost


The bank account may be filling up a little faster and the clients may be more regular now, but before buying your equipment, think of costs; the cost of quality equipment (whether used or brand new), the maintenance cost, if contractors/clients will be able to pay the for their services, and everything in between from insurance to fuel.


Purchasing has a price tag, so does ownership.


Support


John Deere, CAT, Liebherr, and BOSCH (to name a few) are well known names in the industry whether it be in construction, trucks, agriculture, etc.


Buying equipment from well-known manufacturers or trusted brands means a few good things;


·         Easy maintenance because you can be sure most mechanics will be well versed with the systems and components of those well-known brands.


·         Parts and components will be easily available.


·         You’ll get a warranty or guaranty.


 


Other things that can, and should be considered…


A few other things like how often that particular equipment will be used is important. What equipment do your clients (regular clients) usually need most for their projects or when they contact you, that is the equipment you should aim for.


Knowing your working environment and conditions will also go a long way in making sure you don’t spend unwisely on equipment acquisition. The terrain and under what conditions (weather, climate, season) your clients or contractors work should be one of your considerations when thinking about buying equipment.


Research is also important, knowing the full range of specs and use of the equipment you are buying will be most definitely a plus.


 


 


Many personal, and general factors go into making a decision such as buying equipment but whatever the case, owning your own equipment is a telltale sign of your dedication to work and will always be part of a long-term strategy that most often than not pays off.


So, now that you’ve gotten the key basics on what to consider when planning to buy your equipment, all you need is a trusted dealer or the right market


That’s where we come in! peruse our all-in-one online marketplace for all your equipment needs; get brand new or used equipment at unbeatable prices, from trusted and verified sellers, hire a technician for quick repair or maintenance, or get a quality control test and review done on an equipment you like or would like to put on the market.


Topics: Equipdom, Finance,

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