Purchasing technical or specialised equipment can be a bit overwhelming if you have many options. Here are some things to consider when making purchases for your company.
Know Your Business
Before getting started with researching a product, find out all of the business requirements you have. How heavy is the load capacity you require now and in the foreseeable future? How quickly do you need it to arrive? What is your budget? Could you rent one or do you need to keep it? Do you have any company initiatives you want to follow, such as ecofriendly directives?
Do the Research
Once you establish that you need a particular type of equipment, research that one specifically. Find out who sells it near you, if there are other options online, what the range of size and power is, etc. This often just takes a good Google search to do some preliminary research. Sometimes, you’ll know of retailers or wholesalers directly who aren’t online and you should examine their options in person. Are there second hand or rental options available? Come up with a shortlist of possible purchases.
Rank Your Options
Once you have a shortlist of items for sale, rank them with some of the following.
This is obviously one of the biggest factors. If it’s out of your price range, see if you can find a used one instead.
How long is it going to last? What is the warranty on the equipment? Does it have a workmanship guarantee? Does it include materials like plastic or iron that will be worn or corroded over a shorter period of time?
Look at the quality of the parts, especially the ones that cost the most to maintain, like the engine. Where is it made? Are the materials durable and high quality, or cheaper plastics? How efficient is it? Is it the latest performance technology?
Always take into account maintenance costs, so that you know what the total ownership cost is over the equipment’s lifetime, rather than just upfront costs. You can usually search for what other owners say it costs them by looking at reviews. Also consider the cost of fuel or other regular purchases associated with using your equipment.
One consideration for many people is how quickly do you need it? If you’re in a real pinch, this might be the determining factor. See what the shipping, delivery, or waiting times are. Often you’ll get the most accurate estimate by calling and speaking to someone.
Looking at what others have said about the equipment is a step not to be missed. A seller may write a wonderful description, but looking at reviews is a good way to authenticate them. Some websites are made specifically for reviewing industrial products. Remember that these are usually user-generated, meaning that you should consider them but take them with a grain of salt.
Always check the warranty to see what is covered. If there are any extended warranty options, consider whether a break in five years would mean it would break the bank without that protection.