If you have a small business with high volume printing needs, you would have to have a printer on the premises, whether you’re operating from home or from an office. It’s best to buy multi-functional printers which can both print and copy. But these models are quite expensive, so you might be thinking whether you should invest in a printer or not. You can rent a printer too, which would help to fulfill the printing demand of your company. Take a look at the pros and cons of buying and renting printers which we have outlined below to help you make the right decision for your company.
Pros renting a printer
Lower upfront costs
The main advantage of renting is saving on the upfront costs. You can use the saved money as capital to meet other pressing business needs. Small businesses have limited credit access so renting a printer by the month might be cheaper for you. For example, this is the lowest priced Konica we could find in the UK, which costs at least fifteen hundred pounds. For a small business, hundreds and thousands of pounds would make a huge dent on the capital. As far as upfront costs go, renting is the best option.
Availing new models/technology
When you rent a printer, you can upgrade to a new one with better technology, which might be faster and more economical to run, after your lease is over. You can always use the latest printers which are specialized and have hi-tech features which might benefit your work immensely.
Maintenance is hassle-free
When you rent a printer the maintaining it is not your responsibility. Equipment providers will have several maintenance plans which you can choose from, according to your budget. Maintenance charges are sometimes included in the rent/lease agreement or charged separately.
Cons of renting a printer
Renting a printer might be more expensive for you in the long run, as you end up paying more than the cost of the printer. Along with the maintenance charges, the amount of money you pay in total at the end of your contract would be much higher than buying one.
When you rent, you are locked into the contract for a certain amount of time. If you rented a printer which sufficed for a 10 employee set up, and suddenly there was a business growth, then you might have to rent another printer. Sometimes, business owners overestimate their requirement and buy an unnecessarily expensive printer, and have to pay the high monthly charges till the end of contract.
Pros of buying a printer
Buying a printer is less expensive as you save on the interest amount and high maintenance cost. Also, you are not locked into a contract you can’t get out of.
Even though printers are depreciating assets, you can still sell your printer at a good price if you want to buy another model. So part of the money invested is recouped.
Cons of buying a printer
If the printer you bought malfunctions for any reason, you will have to replace it. This leads to unexpected business expenditure which you can avoid by renting.
Renting and buying a printer both have their advantages and disadvantages. You can decide to buy or rent depending on your business capital and immediate business needs and priorities.
Article Submitted By Community Writer