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Tips for Leasing Shop Equipment

Tips for Leasing Shop Equipment

Author: Lindsay Merwald/Wednesday, May 25, 2016/Categories: Industry News - Textile

(Quoted from Steve Gluskin and Printwear Magazine. Full article here.)

While owning your shop's equipment outright can be beneficial, it can be a major investment to start out with. As an alternative, some business owners and start-up entrepreneurs are choosing equipment leasing as their choice for financing their equipment. 

A statement once uttered by J. Paul Getty was “If it appreciates in value, buy it. If it depreciates in value, lease it.” This information still holds true today. While leasing your equipment may be more convenient than buying machines outright, the financing used to acquire the essential equipment could have a dramatic effect on your company’s bottom line, so it's good to be aware of the pros and cons. 

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