Expanding Your Business: 3 Ways How to Obtain Commercial Equipment the Smart Way

Expanding Your Business: 3 Ways How to Obtain Commercial Equipment the Smart Way

Profitable business

Travelers take maps with them to ensure they get where they are going and that know where they are at all times. Similarly, business owners guide their companies with business plans. One of the things that any sound, thoughtful, well-designed business plan provides for is necessary commercial equipment purchases. Balancing the equipment quality with anticipated longevity and cost is important.The best choice for one business owner’s circumstance might not necessarily be the right choice for another’s. However, there are three primary ways for most business owners to profit when making such purchases for their businesses.

Buy It New

A business owner’s obvious first option is to purchase what he needs new from the manufacturer. This isn’t a bad way to go if you have plenty of startup capital, and are careful to purchase exactly what you need. Rebates may be available on specific equipment. By buying new, you eliminate concerns about wear-related breakdowns. However, the inconvenience of working out the kinks from that new equipment falls to you. Depending upon the type of equipment required, such interruptions may range from mild to extensive. The good news? You’re under warranty, and you have a team of professionals at your beck and call.

Buy It Used

Some but not all manufacturers of commercial equipment offer selected used equipment for sale throughout the year, at advertised sales or as a service for clients swapping out used equipment. There are pros and cons to used equipment purchases. On the positive side, you stand to save a lot of money by buying used. Buyers who purchase used receive a faster return on their investment. There are many good deals to be found, particularly in situations where the former owner is going out of business, or when the equipment was lightly used, say as a prototype. Bankruptcy sales often offer great opportunities to pick up affordable used equipment. Negatives include considerations such as potential reliability issues, limited or no warranty and higher finance rates.

Buy at an Auction

A third, and popular option, is to frequent local and online auctions in search of available commercial equipment. This is an excellent way to be sure you’re paying fair market value for what you buy. If you’ve never participated in an auction before then be sure to educate yourself in advance as to how auctions work in general and about the specific procedures and requirements that govern any auctions that interest you. Online you’ll find various guides packed with general knowledge as well as industry-specific tips and tricks that will enhance your auction buying experience. Take advantage of the opportunity to preview the equipment that interests you and remember that all auction sales are final – there are no returns.

The wise consumer recognizes that things are not always as they seem. New equipment comes with a warranty, but won’t necessarily perform any better or last any longer than the same piece of used equipment. Used equipment may have been better made and might last longer than something new. Ultimately, it’s up to the buyer to educate himself and to make the decision that best suits his individual equipment needs.