Questions to ask before an equipment purchase
News | | By: IFAI
Want to avoid buyer’s remorse? Ask questions such as these before laying any money down.
By Jill C. Lafferty
- How will this purchase impact production and profitability? Keep all emotions removed from the decision!
—Christopher Whitlow, Event Resource Group
- Know your capacity to determine what type of equipment is needed … are the parts going to be manually loaded by people, or do you need more automation to get the labor out of there?
—Janice Lerow, Hall Dielectric Machinery Co. Inc.
- Who handles the tech support? How soon can it be there? Where are the parts stocked?
—Jason Bartusick, Media One Digital Imaging Solutions LLC
- What’s the overall effect to the bottom line? In the past, or prerecession, we had more wiggle room. We just don’t have that margin for error anymore. We have to be very, very sure of that purchase.
—Jeff Greene, Denver Tent Co.
- What problem are you trying to solve, and what are you potentially leaving on the table. … What additional opportunity might be there?
—Steve McLendon, Tri-D Technologies