Starting up a business entails a lot of costs that pile up. The purchasing of office equipment is quite costly, and the amount for this may be too much, especially for a business that is still in its beginning stages. Particularly if you are starting a business in the printing industry, this is an expense that you cannot merely forego.
To lower the expense, printer leasing is made available as an option as opposed to buying one. What are its benefits? Read through below.
1. You waste no time and effort
The process of starting a business is often a time-consuming one, which also needs a lot of effort. Before you can immediately jump into the decision of buying a printer, you will have to do a thorough research of what is best for your business. If you do not have any background knowledge about this matter, this decision-making process can often be a difficult one to make.
With printer leasing, this burden of decision-making is lifted off your shoulders, as the printer leasing company helps you decide what the best option for your business is.
2. You can save on costs
Buying an office printer is expensive. Depending on the size and features that you need, the price can quickly escalate from a few hundred dollars per printer to thousands of dollars. If you are limited in the budget department, this can only mean an added financial burden for you to think about.
A solution for you to take is to go for printer leasing instead. Not only do you get to save on the procurement cost of your printer, but you get to save on the following expenses as well:
- Maintenance
- Repair
- Other necessary equipment or supplies for your printer
For instance, after initially using your printer, you realize that it isn’t the right one for you. You then have no way of recovering this cost, and it becomes a wasted asset for your business. Through printer leasing, you do not incur this costly mistake, plus you can save on many other expenses as well.
3. You are avoiding obsolescence
Technology is moving at a very fast pace. What may have been relevant and highly useful in past years may already be considered obsolete in a year or two. For businesses, this can mean a very costly downfall. If you had already spent thousands of dollars on your printers, and two years from now, they are no longer up-to-date with technology, you have no choice but to repurchase. This situation is particularly true especially if you are in the business of printing.
If your printers are still functioning well and have not yet depreciated, being forced to buy new ones because the current ones you have aren’t useful and relevant anymore means you are wasting an asset, as you haven’t maximized their use and value. With printer leasing, you can successfully avoid obsolescence, as you aren’t risking purchasing an asset that may only be wasted later on. Each time you renew your lease contract, you are also presented with new and up-to-date printer options.
4. You are not wasting on depreciation
Like any other asset, printers also depreciate yearly. In fact, by the time that you take it out of the store, it is already considered a second-hand asset to potential buyers should you decide to resale. Hence, right then and there, you are wasting a percentage of its value all on depreciation. If you think about it, this amount spent on depreciation multiplied by all the printers that you have accounts for large losses to your business, which is only just starting.
Had you gone for a printer lease instead, you will no longer have to account for this depreciation. This depreciated amount can be then used for other expenses for your business, or those that you have no choice but to purchase.
5. You can easily upgrade your models
If you will want to upgrade, one option that you can have instead of buying another one is to trade in. However, this means it is still costly for your business because you will have to pay for the remainder of the price, which can always be a staggering amount. Most trade in values are often meager, and even then, you are already losing thousands of dollars.
When you go for a print lease, you can easily trade in or replace your leased unit, even within the same period. In this manner, the costs are lesser, and you also wouldn’t have to worry about paying for the remainder of the cost of a new printer. In essence, you have more freedom to upgrade to better models, so that you will also be more relevant and up-to-date as a business.
Conclusion
Now that you have this list of advantages with you, perhaps this can make you reconsider your decision of buying a printer right then and there. Whether you have the capital for it or not, it is always good to go for ways that present a more economical option for your business. To maximize profits, you should save on costs as well. This and many more are achieved through printer leasing instead of purchasing.