Things to Consider When Acquiring Industrial Machines

Most businesses occasionally find companies in need of industrial equipment. Small construction businesses, especially, may frequently need to acquire various types of heavy machinery for larger projects. Getting an industrial-grade machine is markedly different from buying a household tool. Here are some of the things companies and individuals need to keep in mind when buying industrial equipment:

Decide between Buying and Renting

Buying machinery can be quite expensive. Smaller businesses may need to enter into lengthy contracts to pay for the purchase in instalments. Therefore, it’s worthwhile considering whether you or your business should rent the equipment, rather than buy it. Both have its merits.

If the machinery is required on a regular basis, then it makes most sense to purchase it right away. If it’s only a one or two time job, it might be more cost effective to rent. For example, buying a fork truck is a cumbersome process. In addition to choosing the right product, you will have to pay for transportation as well. If the fork truck is required for on a non-regular basis, it will more sense to try an option like forklifts hire from Damoli.

In any case, weigh in the benefits of buying versus renting to make the best decision for your purchases.

Buying a New or a Used Product

Once you decide to buy, there’s another important factor to take into consideration: whether to buy new or used. Used products cost less, but there might be some major drawbacks. Used machines may require maintenance and most likely won’t last as long as a new machine.

Buying new means you can benefit from a shiny new warranty. Also, newer models for certain machines are more energy efficient and safer to use. Most businesses prefer to purchase machinery new. But if the company is cash strapped, it’s worthwhile to consider a used machine, particularly if it comes with a warranty.

Compare Prices

As with most household machines, industrial machines require a price comparison as well. It’s common to find the same machine being offered at different prices. The prices may differ based on the condition of the machine and the warranty on offer. Some supplier may throw in perks like lifetime tech support for a higher price tag. It’s very important to compare prices across as many suppliers as possible to get the best value for the machine.

Calculate Manual Labour Costs

Machinery is supposed to reduce manual labour costs, but it may not always do so. Businesses must calculate how much it would cost to hire people to maintain and operate the machine. Most industrial machinery requires special technical skills or licenses to operate. Therefore, companies should calculate whether the production output of the machine justifies the labour cost.

Estimate Power Consumption

Most people don’t think about the power consumption a large machine will require at a worksite. The office or the facilities you have must be able to support the power supply to the machine you require. Owning a machine spikes the energy bill, so that should be calculated carefully as well.

Once you take the above into consideration, you will be better prepared to purchase an industrial machine. Don’t obsess over just the specs; what’s mentioned above matters a lot too.

 

 

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