One of the current dilemmas when purchasing vending equipment is whether to buy new machines or to rent them. Either is acceptable, but choosing which is right for you should be a carefully made decision. Having all the facts and doing good research will help you make the right decision for your business. This post will look at the benefits of either renting or buying vending machines for your laundromat. Do you need laundry equipment in Greensboro, NC? T & L can help you save time and money. Call us today to learn more.
Having full-service vending machines is a great choice as they are totally owned and serviced by the vendor. This means there is no cost to you because the machines are free. All responsibility is on the vendor. This also means that the vendor will keep the machines stocked and collect the money. They also keep the profit. If you are a smaller operation, there may be advantages to renting. Often renting is available from the vendor but the cost of the machines is inflated. Another factor is your credit worthiness. Vendors will conduct a credit check and if you have a low credit score you may pay more per month.
Buying your machines is an upfront and higher cost venture. The cost per machine can be thousands of dollars. However, purchasing your equipment means you are in total control. You choose what to purchase and when to purchase. Buying means you can get wholesale pricing, and this can save you a lot of money. It can also mean that you will be responsible for the maintenance costs as well.
To avoid confusion let’s recap the pros of each:
To buy your own machines means:
- You choose your products
- You set your own pricing
- You can service your machines yourself
- The profit margin is much higher
The disadvantages are:
- You must maintain your machines and do the repairs
- You will be responsible for stocking the machine
- Your startup costs will be larger as you need upfront money for purchasing
- Upfront costs are much lower
- Repair and maintenance costs are usually to the vendor
- Products may be limited to vendors' choices
Keep in mind that most companies can offer you many different options for your vending needs. Buying or renting and a hybrid of both are all good choices. Do your research so you will be ready to make the right decision for all your business needs.
Affordable Laundry Equipment in Greensboro, NC
If your 2019 plan for your business includes reducing costs and linen loss by bringing the laundering of your sheets, tablecloths, towels, and napkins onsite talk with a T & L Laundry Equipment representative today. For the last 40 years, T & L has helped business owners select the right laundry equipment in Greensboro, NC to meet their business' needs. We proudly offer the complete product line from both Speed Queen and Continental and can make getting the equipment you need easy with our in-house financing. Call today and schedule your complimentary onsite appointment with one of our laundry experts and see what a difference your own onsite laundry could make to your bottom line.