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Office equipment – Maximizing Your Office Equipment Dollar

Office equipment can be a hefty investment, especially for start ups. However these initial investments can be greatly minimized. Even if your business is reliant on image as a means of attracting and maintaining clientele and you feel you need top of the line furnishings, savings can probably be had. Image is important; and correctly or incorrectly, psychologically it reflects how the organization is run.

If you buy top of the line to create an image of success and are not well funded, you have fabricated a lie to your customer base. You or your company is pretending to be something you are not. Some PR firms might disagree with this, but image is not everything, it is only part of doing business. The quality of your service or product, the integrity you bring to the table, your management skill set and business plan area just as important. For most start ups, even those who have been around for a few years, lavish furniture or expensive technology will not be needed to have success. Doing it right does not mean rushing out and purchasing the best of everything. More often than not this is the wrong approach. Getting quality employees or out sourcing important functions to quality professionals will be a better investment

Psychologically, quality furniture can affect employees and customers. Unfortunately through savvy advertising, our country is deeply in debt due to generations of people who now feel they deserve the latest and greatest gadgets to survive, even if they can’t afford it. The country spends more than it makes. This mentality often spills into the workplace. It is not sound economics. Today we are paying for the reckless spending habits of the past decades. Start out buying within budgetary constraints (there is a budget, isn’t there?). As the corporation grows, as it begins building equity, a brand name, a customer base and stability, it begins upgrading. Again, different industries have different needs, but wise spending is always part of a sustained and healthy business.

What are some of the alternative choices any business can use and save up to 90% of retail?

Auctions

In the old days, auctions were usually limited to bankruptcy houses. Even though times have changed, it is still a place to find bargains. It is a great place to pick up desks, display fixtures, computers, chairs, decorations, etc. You can often pick up quality furniture from companies that went out of business because they made unwise investments or because they did not find a way to complete in the current economic environment

These days, online auctions such as E-bay offer additional venues for great bargains. Since furniture is bulky, your search may be limited to your local area. Yet, there are many dealers selling new items through auction sites and even with shipping costs, you can get a price checking out. These online auction sites are perfect for small start ups.

With any auction, always look to get the highest quality furniture being offered. Hopefully you are already saving a bundle and those few extra dollars will not only make you and your employees feel better about your purchases, it will impress customers.

Liquidators

Many large corporations dispose of furnishings through office liquidators. These liquidators negotiate buying the entire lot of unwanted, no longer desirable furniture which they sell it off in smaller lots to other businesses. Even though prices tend to be higher than auctions, the selection is usually broader and merchandise guarantees are often provided.

Leasing

Not every item can be found everywhere and if you have particular tastes, you may want to check out leasing your office equipment and furnishing. In the long run, you aren’t saving money, but if you need furnishings for the short term or you have no credit history, leasing may be the way to go. It allows you to use start money in other important places and allows you to use the equipment to make money along the way. Monthly payments may offer a larger tax break than equipment depreciation. Leasing is not for everyone. Keep in mind leasing is a form of borrowing, and interest rates may be higher than commercial banks, so if you are considering this as an option, sit down and do the math.

Other

Want ads in local papers and back pages of business magazines are quickly becoming a thing of the past, since they always take a few days to weeks before they get published. The internet offers real time opportunities with sites such as ‘Craigslist’. However, be careful, as you never know who are buying from. Quicker is not always better, so do your homework.

Remember, cash in hand is almost always better than an expensive fixture at the expense of a worrisome payroll. Have a plan and open communications with your staff. Get feedback and outside opinions. When the time is right, you can afford an interior decorator, but that will come in time, when you have already establish some level of success. Your ability to negotiate and be in a mind set that will sell the price you are willing to pay can come in quite handy at these times.

Last Update: July 18, 2011

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