Besides furniture, office equipment will probably be one of your most essential startup expenses.
These include a business telephone system, computers plus software, and mailing equipment. Of course, you might also need to upgrade your phone, especially if your business requires you to be online most of the time. A shredder and a multifunction printer could also be on your office equipment list if your company handles many documents.
Speaking of shredders and printers, you may be wondering if it’s more cost-effective to buy a separate copier. Perhaps your old printer is still working, and you only need a functioning copy machine for meetings, presentations, etc.
Here, we’ll talk about the pros and cons of leasing vs. buying a copier.
Why Lease a Copier?
Considering the upfront costs for new office equipment, some business owners opt to lease a new copier instead.
If your company has limited financial resources, leasing may be the best option. With a leased copier, you don’t need to worry about managing and maintaining it. After all, most contracts already include professional servicing.
Also, since it’s a leased copier, you can update your equipment once the contract ends. With purchased equipment, not only will you incur maintenance expenses, but you also need to use it until it conks out to justify the financial investment.
Why Buy a Copier?
When you purchase a copy machine, you have complete control over how to use it. Also, if you keep it long enough, recouping your investment is guaranteed. It’s like how you’ll spend less buying big-ticket items with an upfront payment rather than paying for them every month.
To save money, think hard if you need to have the latest copier. You could luck out buying from a seller who wants to clear off old inventory. Settling for an older model doesn’t mean you’ll pay more for servicing later on.
Just make sure you’re buying from a reputable vendor and that you’re getting a well-known copy machine with excellent reviews. Of course, don’t forget to check the warranties, too.
So, Is Leasing More Cost-Effective Than Buying?
Now that you understand the pros of leasing vs. buying a copier, the final decision will depend on your business needs.
Keep in mind that both options have disadvantages. If you buy a copier, maintaining it falls on your shoulders. That doesn’t mean you can’t hire a professional, but if it’s not under warranty, you’ll have to add that to your expenses.
Meanwhile, if you opt to lease a copy machine, you must pay every month or quarter. Some companies also have restrictions on how you can use the equipment.
Now, if deciding between leasing and buying a copier is giving you a headache, you can always consult with a company that offers both. For example, supremeofficetechnology.com leases, rents, and sells copy machines and other equipment at competitive prices.
Need Office Supplies? Copy That!
Starting a business comes with many expenses, which means carefully planning them out is a must.
If you need more tips and advice on buying office equipment, it helps to talk to different suppliers. You can also check our other posts about making more cost-effective business decisions.