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Should I Rent A Photocopier For My Office?

Small businesses are fortunate in this day and age because gadgets, electronics and office equipment are now available to them at a fraction of the cost. Renting has become a popular trend with suppliers of expensive equipment so that they can take advantage of an otherwise untapped niche of clientele.

If you are a small business, it’s easy to decide to just rent a photocopier due to budget constraints. But if you are thinking long-term and you see that the need for a photocopier will just grow even more then you should think about buying.

This article will give you an idea of the benefits of renting.

The trouble with buying

It’s great to invest in a piece of equipment that you know your company will use for a long period of time. However, there are a few cons to buying a copier. Maintenance is one big issue. It can be quite expensive if you own the unit. As the owner, you are solely responsible for your machine if it breaks down. If it is out of warranty, expect the costs of repair and maintenance to be high.

Another aspect is the ink. You should have a constant supply of it especially if you use your machine all the time. You need to purchase a replacement every time it runs out. That is an additional running cost. You may find yourself spending a significant amount of money on ink and other consumables.

Advantages of Renting

First of all, the machine will never be yours but that’s not a bad thing. If you think long term, it might be cheaper to rent as ink and maintenance are usually already included in your contract. If you experience some problems with your unit, all you need to do is report it to your supplier. They can have a technician look at it and repair it on the spot or if the problem is worse, they can pull it out and take it for repairs. When this happens, they usually give you a replacement unit until they can figure out what’s wrong with yours. This will lessen the impact on your daily operations. You don’t need to stop everything just because your equipment broke down. If you buy and your unit needs to be serviced at the repair office then you have no replacement unit to work with.

Cash flow is a very important aspect of any business. Renting will improve your cash flow as it reduces the need to pay a huge amount in one go. The expense is distributed throughout your contract in smaller values.

Owning a copier is a regular business expense so it has better tax advantages.

You can have access to the latest technology when you rent as you can easily upgrade (or downgrade) whenever you need to.

If you only need the machine for a particular length of time, you can end your contract and give it back to the supplier. There’s no need to find a buyer to recoup some of your expenses.

Cost

A mid-level black and white photocopier costs around £25 per month to rent. That already includes ink and maintenance services. On the other hand, the same model would cost around £800 to purchase. You still have to pay for the service and maintenance agreement plus other running costs associated with it. It is estimated that you will break even on the purchase cost alone in around 2 ½ years. If you include the cost of ink and repairs, that will take you to around 4 years.

Renting clearly has more advantages than purchasing. It is a good decision that will benefit your small business immensely.