It can be difficult to find the funds to invest in necessary office equipment, especially when your business is relatively new and your funds are already stretched. It’s a situation that can leave you tearing your hair out, especially if you end up choosing cheaper models that then break down and need repairing. Stop stressing because we have a secret for you. You don’t need to break the bank when choosing the best office equipment! Don’t believe us? Read on for our 5 tips that all small businesses should know.
When it comes to office furniture and equipment, the options are literally endless. There are comparison sites and simple quote requests available at every turn, utilize this! Use it to your benefit by checking out different suppliers to see what they can offer you. It may take you a little bit longer to decide which supplier to go with or which model to buy but it is well worth it because you’ll have a good idea of the average asking price and you’ll be able to spot great deals with ease. Remember it’s not just price that you need to take into consideration, also consider the services that are included as well as the supplier reputation and reviews.
Overall Running Cost VS Product Price
It can be easy to get caught up only looking at the price of the equipment but this can leave you with finance issues later down the line thanks to the long-term costs. Remember the deal may seem fantastic at first glance but you could be left digging deep for the supplies and actual running of the equipment.
Choose A Financing Plan That Works For You
There are a few different options available when looking at office equipment, these are; buying, leasing or renting. Take a look at each one and weigh up the pros and cons in relation to your business and financial status. Here’s a quick lowdown on each one:
Buying – you pay outright to own the equipment from the beginning. This also means you will be covering all the costs of running and maintaining the equipment.
Renting – when renting you pay relatively low costs for short term usage of the equipment, you do not own it and there is no option to own it making this a good choice for office equipment that becomes quickly outdated or is only used every so often for particular projects. Renting tends to be a month to month agreement meaning you can easily end the rental contract if necessary.
Leasing – the payments you make are usually lower than the cost of purchasing the equipment outright but you do not own the equipment. Instead, you are leasing equipment for your business. However, you will have the option to buy the equipment at the end of the lease if you wish.
Photocopiers are a key example of the financial plans available. To give you an idea of the options, photocopier rental is available from around £20 per month for basic low volume models to upwards of £200 per month for sophisticated high volume models. Buying a small desktop photocopier outright will cost anything from £200 up and to buy a higher volume multi-function copier will likely cost thousands of pounds, this is why many businesses opt for rental or leasing options. Photocopier rental prices have changed from the previous year according to photocopiercompare.
Energy efficiency is a frequent talking point, but many still don’t realize the potential savings that await from a simple switch to being more environmentally friendly. Producing energy efficient equipment is fast becoming a top priority for many manufacturers so keep an eye out for great deals on eco-friendly equipment.
Remember Training May Be Necessary
When buying new equipment, many businesses overlook the need for necessary training that ensures staff can use the equipment properly and efficiently. Without showing your staff how to use the equipment there will be a noticeable drop in productivity due to too much time being spent trying to adapt to the new system. Take this into account and you’ll make sure the new equipment is put to good use from the start.
These 5 tips will help you make your money go further when it comes to equipping your office. With these in mind you can move forward with confidence in your decisions and have peace of mind knowing you are helping your business grow. A bad decision on something as crucial and necessary as equipment can cause you problems down the line, we recommend taking your time to weigh up the options while thinking about both the short and long-term.