With very few exceptions, entrepreneurs experience the pains of taking the first steps to start up their own business. These trials serve as a rite of passage, testing a prospective business owner’s resolve. These ordeals will separate the fanciful dreamers from the true visionaries and pioneers.
Most of the time, it starts with finding the initial funds and resources to get the ball rolling, usually via loans from friends and relatives, the bank, or more recently, from just about anyone who is interested in seeing your product or service happen (crowdfunding services like Kickstarter or Indiegogo make this possible).
Assuming things go well with finding capital, it’s time to start investing in the right people, facilities, and equipment. Given the title of this piece, I’m obviously going to concentrate on the equipment.
In most cases, purchasing your budding company’s tools of the trade is going to take up a lot of your seed money, regardless of the kind of business you’re getting into. The intuitive thing to do would be to buy the best equipment you can afford, right? Let me make my case for buying second-hand, pre-owned, or surplus gear for your first wave. My standpoint is from a mostly brick-and-mortar kind of venture, but with a little tweaking, this also applies to e-businesses.
Used Doesn’t Mean Inferior
It might actually be the opposite, in some cases. Some equipment is hardy enough to stand the test of time. Though a little behind in technological innovation, old equipment tends to be better in material and build quality, with planned obsolescence not even considered.
Ecto-1- Columbia Pictures
Don’t take this as a go-ahead to buy just about any mothballed tractor or truck that has been sitting in a warehouse longer than you’ve lived. You still have to do your research, consult the proper experts, and have these experts on hand when inspecting the goods. There will certainly be worn down components in used equipment, so you have to know just how much more you have to invest in them to get them in good working order.
Second-Hand Equipment Is Almost Always Cheaper
If it does the job adequately and it costs less, go for it. Always factor in the maintenance costs; older equipment may require more upkeep, but that’s not always the case. As mentioned above, research and consultation with those in the know are essential. With more affordable equipment, you can either recoup your initial investment on them faster, or if you’re a feeling a little bold, purchase more.
I cannot overstate enough that you should do your research. There are a lot of websites and forums where you can find a wealth of information about the equipment you require for your growing business. Armed with the knowledge, you can then proceed to merchant and auction sites to find the best deals.
Best of luck on your new business!
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