Top 10 questions to ask when purchasing or leasing equipment
News | | By: IFAI
Several business owners contributed to this list of crucial questions to consider.
By Maura Keller
- Do you intend to use it yourself or have someone else do it for you?
- What are the learning curves involved with the new or upgraded equipment?
- What are the power demands of the equipment and will it require you to reconfigure any of your existing or complementary equipment?
- Financially, once your shop can master this kind of tool, will it be worth the money? Does it expedite production? Will you be able to offer services, such as cutting, for other types of businesses?
- Determine the quality of the source from whom you are purchasing. What type of support and backup assistance is offered after the sale? Is this a quality source that will react when you have problems or issues?
- What equipment will give you the most value as a small business and make you unique and diverse across markets?
- Does the equipment enable you to do unique, artistic work?
- Is the equipment a good fit for present or future markets?
- Does the equipment add value to your product and capability?
- Does the equipment keep you on the cutting edge or allow you to collaborate more effectively with new possibilities?
Maura Keller is a freelance writer based in Plymouth, Minn.