If you are in the market for your next business equipment, you would know that there are plenty of options out there. Buying new equipment requires time, research, finances and so much more. To ensure that you get the best out of your buck, we have put together a few simple tips which will bring you closer to the right equipment for your business. We have done the research to empower you to make well-informed decisions.
Here’s a look at 5 things to consider when getting new equipment for your business.
Assess The Needs Of Your Business
Before you actually start looking into the available options for a piece of equipment, consider an assessment of your current business needs. As a business owner, you would want to upgrade your equipment or get an efficient one. However, it’s also important to have a discussion with your on-ground team to understand more about operational ease, equipment safety, current problems and how to solve them. By taking a microscopic approach, you can arrive at a better conclusion on what equipment to buy as you have a better understanding of what you are trying to solve.
Buying V/S Renting – What To Choose?
When it comes to getting equipment for your business, you can consider buying (old or new) equipment or simply renting one for the season. Depending on your assessment of the business, you can arrive at a conclusion about whether you need the equipment for the long-term or short-term. If it’s seasonal equipment, you can always rent it out for the season.
Another thing to consider when thinking about buying or renting is storage space. If you have a dedicated space, it can accommodate many things. However, if the equipment is too big and needs extra storage, you can consider rental options that also provide storage. If you are considering buying old equipment, look into the working conditions, maintenance and how frequently it has been used to make sure you make the most of the deal.
Consider Going Green
Given the climate changes that affected Canada and everyone becoming more conscious of eco-friendly choices, it would be worthwhile to consider a greener option for your equipment. Choosing a greener option can also be more energy efficient which can save you more in the longer run. Some programs also offer benefits to people who choose greener alternatives. You can also showcase that you are a responsible pro on your HomeStars profile, so people who are focussing on going green, can reach out to you.
How Will You Finance It?
Another factor which will help you decide on the right equipment is the method of financing. Depending on your budget, and the financing options available, you can choose the equipment that fits your budget. If you have assessed the business requirements, you would understand the equipment that is absolutely necessary and the ones which can be rented or postponed for another time. When you are looking into finances, also consider the costs for storage, annual maintenance, energy bills etc. Having your finances in place, before exploring the market, gives you a better idea of what to look at when buying.
Look Into Licenses For Equipment Handling
Certain equipment may require a license for handling and operating. If you need to get a license for your business or for your operator, find out more about licensing in the province or line of work. As these licenses can require some time and money, it’s best to get them out of the way before you start looking at buying or renting equipment.
As we are in the business of growing yours, we are always looking for ways to help you in your business endeavours. By utilizing these tips, you can make a well-informed decision about the equipment your business needs. If you would like to know more about how HomeStars empowers its pros, get in touch with your dedicated Customer Success Manager!
