What’s Better – Rental or Purchase?
FreshGround | May 10, 2016
Every single office in the country relies on equipment and technology for its daily functions. From photocopiers and printers to specialised, industry specific pieces of kit, every business needs high quality accessories to help it run.
For the people in charge of company equipment, deciding whether to buy or rent the machines and accessories they need is one of the main financial dilemmas they’ll face. Both renting and buying have their own pros and cons, so it’s up to each facilities manager, office manager, catering manager or designated individual to decide which is right for their business.
Cost
Cost is obviously a major consideration when it comes to deciding whether to rent or buy. Short term, renting is generally the more affordable option as it requires minimal initial outlay. However, if a company is going to need the piece of equipment in the long term, buying it may be more financially viable.
A lot of company owners recommend buying a piece of equipment when the cumulative cost of renting it is more than half the purchase price. As companies that own their own equipment will be able to sell it on when they upgrade or change practices, they’ll be able to make back some of their initial investment, making purchasing even more affordable.
Convenience
When renting equipment from a company, they’ll often deliver it to your door at a time convenient to you and collect it from you at the end of the rental period. This can make renting very convenient, especially as the provider will offer support and advice throughout the rental period.
As buying a new piece of equipment involves a larger initial investment, companies will often need to do more research before making a purchase. Though this can be time consuming, it’s essential if you want to get the best deal and the best quality tools.
Maintenance
When it comes to maintaining and caring for your equipment, rented products generally come out trumps. As long as you use reputable companies with good customer service records, they’ll be able to rely on their supplier to perform all necessary maintenance work and to save the day if disaster strikes and the equipment breaks down completely.
Updates
If businesses rent their equipment, they should be able to upgrade their product periodically over time. This will help to ensure the company always has the most up to date tools at its fingertips and can stay ahead of the competition.
Though companies who buy their products can update whenever they want, the expense of selling old equipment and purchasing new products can be prohibitive.
As every company is different, FreshGround have a range of rental and purchase options to choose from. Making life that little bit easier for hard working facilities managers, office managers and catering managers, our high quality coffee machines and faultless customer service will help to ensure you find the perfect set up for your business. You can get all of your drinks provisions from one company (bean to cup coffee, filter coffee, boiling and chilled taps, water coolers, boilers), ensuring efficiency and cutting down on the time you spend dealing with different providers. Add to that fully inclusive servicing and maintenance, FreshGround makes your life that much easier.