It looks like the perfect deal: a slightly used scissor lift that gets the job done. And besides, a used one costs less than a new one, right? You have been renting out a scissor lift for quite a while and feel like more work requiring this exceptional piece of equipment is just around the corner.
Here are a number of things you need to consider:
If you own and operate small business, the scissor lift might eat up a large chunk off your profit until it really pays for itself.
Are you sure that the volume of business needed for the lift to pay for itself will be here next year, or the next five years? If you can’t point out a good track record of business or if you don’t have a contract with the client whose work requires the lift, sticking with renting might be a good option.
Even though from a business standpoint, purchasing a scissor lift is a good option but make sure you enough business for it to pay for it later.
Transportation and Storage
Another important factor to consider is storage space. Apart from ensuring that you have ample free space to park and store the scissor, you may also need to arrange a truck for transporting the lift.
If you unsure about these two things, a $20,000 lift could end up costing you way more than you expect.
Beyond Breaking Even
If you are a smart business owner, before investing in equipment or anything else you may wonder how long it would take it to pay for itself. However, considering the break even is only one part of this thought process.
Any piece of equipment should be considered a revenue generation platform. What new things can you do with the scissor lift that you were unable to do in the past? Will you be able to dramatically boost productivity now that you have purchased the lift? If you are planning to purchase a scissor lift, these revenues should be able to outnumber your costs within a realistic time frame.
At Industrial Man Lifts we offer a broad collection of scissor man lifts. You can also buy articulating lifts from our collection and customize them according to your own needs. Get in touch with us to learn more.