Photocopier: Lease Or Buy
Not many people know that you actually have two options when it comes to getting a photocopier for your company. You can either engage in a photocopier lease or you can buy your very own photocopier. Both tactics have got their own individual set of pros and cons. Let us take a look.
If you decide to buy a photocopier then you are going to have to find the money for the initial capital outlay. You are also going to have to make sure that you maintain and service the photocopier on a regular basis and will have to buy supplies for the photocopier. All of these things do cost you extra money each month. However, you do have an asset on your asset register to show for all the expenses.
If you choose to go the photocopier lease route, then things look a little different. You do not have to worry about maintenance. That will be taken care of by the company that you lease the copier from. You will most likely need to buy supplies on a monthly basis and you will have to pay a small fee each month to keep the copier. Of course, if you find that the copier is no longer necessary or that it no longer meets your needs then you just give it back and get a different one. This can save you a lot of money in the long run. You will not have an asset to show for the money you are spending however and this can make a difference to your liquidity statistics.
As you can surely see, there are benefits to both the photocopier lease and the buying a photocopier option. The one that you end up deciding on will depend a great deal on what you would like the copier for and how quickly you expect your company to expand. A quickly growing company will most likely need larger and larger copiers as time passes and so leasing the copier that works at the moment is a good idea. Think about it carefully before you commit to a contract or a purchase.