Office equipment leasing, renting office furniture, or buying outright -- it can all be confusing as you try to establish your business or update your office. Many business owners wonder if they should purchase furniture outright or go with office furniture leasing. If you are faced with this decision, look at these three options carefully.
Short Term Equipment Rental
Short term rental is often the perfect solution, especially when you only need office furniture or equipment for a short period of time. You don't have to search and hunt for something that you know will only be around for a specific amount of time and you don't have to worry about repair costs since you don't actually own the equipment.
On the other hand, it may not be best to make use of short term rentals if you plan to use the office equipment for a long period of time. Short term rental is usually only cost efficient when used for a short time. If you do decide to rent office furniture or equipment from a short term rental company, work with a reliable company. Ask for references and check them out.
Buying Used Equipment
If you are on a limited budget, the purchase of used furniture or equipment may be a great option for your company. Used equipment will require a lower initial cash outlay. If a loan is required for the purchase, you can pay off the balance quicker, freeing up cash for other business expenses.
Office furniture leasing is also available for used items in addition to new items, offering even more cost savings. An office equipment leasing company does not limit their inventory to only new items. If you shop carefully, you may be able to find items that are 'like new' and hardly used at a significant savings.
Always look beyond price alone. You need to be careful that you're not trading down, especially when it comes to electronics and computers. If you purchase an outdated computer, it may not be able to handle the software you need to run your company. The staff will become frustrated and the loss of productivity may not be worth the few dollars saved. If you buy used office furniture not in good condition, it may detract from the professional appearance of your company.
Office Equipment Leasing New Items
Working with new equipment and furniture as well as the office furniture leasing options used to purchase them can benefit a company in many ways. Many electronics, computers, and communications systems used today can be expensive and at the same time depreciate quickly. The finance options offered through various office equipment leasing companies may eliminate some of the depreciation loss, keeping your office running smoothly.
To give the appearance of looking successful, many businesses will opt for new equipment and furniture. However, this can be an expensive choice when budget constraints come into play. Office furniture leasing options may allow a company to have the latest equipment, making them more affordable than they imagined.
They may even be able to upgrade in either the quality or number of items they can afford. Office furniture leasing companies offer seasonal payments, shorter payment terms, interest only payments, or payments that will grow as your business grows. Flexibility is the key and with the right office furniture leasing company, you will have the options that allow you to have the equipment you need while still keeping your cash flow in check.
Purchasing used items, renting, or buying new with office equipment leasing programs can be a huge benefit to many companies. Just be sure to work with a reliable company. If they don't offer a program that meets your specific needs, don't be afraid to ask. Many companies will design an office furniture leasing program just for you.
Christine O'Kelly is an author for the office furniture leasing specialists at Landmark Financial Corporation, Inc. They work directly with clients to provide office equipment leasing and financing for other commercial needs with the highest level of customer service possible.