The Pros and Cons of Renting Photocopiers
The office will never be complete without a photocopier. However, there is a choice between organisations buying or renting photocopier machines, each with their unique considerations to decide on which option will be best.
Apart from deciding on which option to choose, it is also important to consider how long the copier must be leased for if the business decides to get a rental. If the business does not have a flexible rental plan, it may end up with an inefficient model without the option to upgrade.
It is for this reason that businesses ensure that they have a flexible photocopier lease and that they read the fingerprint carefully.
There are many competitors in the photocopier rental field, with Copiers Africa as one of the leading providers that provide a cost-effective option for all businesses, ensuring that companies can benefit both short- and long-term regardless of their rental period.
Pros and Cons of Renting a Photocopier
Pros
- The upfront costs with leasing a photocopier are low and many rental services offer up to 3 months before the first payment is due, without additional fees.
- Rental payments are typically fixed for the duration of the lease contract. This means that even if interest rates increase, the rental price will remain the same, meaning that the real cost will reduce over time.
- Payments can be customized to meet the cash flow needs of the business. Businesses can determine their lease period as well as the rental repayments at outset.
- A finance lease is typically treated as a fixed asset on the balance sheet of the business.
- When renting a photocopier, businesses have the reassurance that it will not sit with outdated, old, or broken equipment. When the machine reaches the end of its life cycle or usable life, the business does not need to dispose of it as the leasing company handles this.
- When renting a photocopier, the company has a significant amount more free cash that can be used towards business development. As the business grows, the need for working capital will increase and leasing offers additional credit facilities that cannot be recalled if the conditions of the contract are met.
- Leasing is more tax-efficient as opposed to owning assets and businesses can offset rentals against taxable profits.
- Leasing is essential where business planning is concerned.
- The business can either add additional equipment or upgrade the current rented equipment as the business’ needs change.
- Leasing offers the perfect amount of flexibility that businesses need in a rapidly evolving and an expanding world where the needs and demands of customers are frequently changing, allowing businesses to remain a step ahead of the competition and their customers’ requirements.
- Maintenance is typically included as well as repairs, which can save the business a lot of money, especially if a faulty machine must be replaced.
Cons
- If the business is still new or has not yet built up a decent credit rating, leasing can be difficult.
- The equipment is never truly owned by the business.
- There may be hidden clauses in the lease agreement where insurance and yearly administration fees are concerned.
What to consider when you hire a photocopier
Despite whether you are a new business or a large corporation, renting an office copier can be a large investment. There are many options available on the market and it is crucial to do the necessary research before committing to a rental agreement.
Before starting to research suppliers and rental providers, it is important to consider what the business needs and why, who will be using the copier, and what are the important functions and features that the photocopier must include?
When deciding on a rental photocopier, consider these factors when comparing options.
Number of Users
It is important to consider how many people will be using the photocopier. By determining this, you will be able to determine the size and type of machine to rent.
Other considerations relate to whether everyone in a department will share one device, whether there is one device for the entire business, or whether it is necessary to rent multiple machines.
In addition to this, while the new copier can accommodate large numbers of users, it is important to consider whether it will affect daily workflow in any given way.
Needs of the Business and different departments
This relates to the purpose that the photocopier must serve, whether it will be used more by administration departments to print standard documents, or whether a large-format printer and photocopier will be needed.
Impact on Productivity
The impact that the photocopier may have on productivity, whether it will increase or decrease it, must be considered. In addition, whether there is a need for only one or multiple photocopiers to improve productivity.
Security and Privacy Needs
Whether there are any sensitive documents that must be kept confidential and whether the copier offers the security and privacy needed, especially with financial and HR departments that deal with personal records and sensitive information.
The security must ensure that hackers cannot access the photocopier and that it cannot be used by unauthorized personnel.
Maintenance
Whether the rental service that you use offers maintenance of its own and whether it is included in the rental agreement, or whether it is done at a separate fee. This is important as it may need to be included in budgets.
Upgrade Options
New technologies are being released frequently and to remain one step ahead of the competition and to streamline productivity, the business must have the option of upgrading their equipment as their needs change without much hassle.
Lifecycle versus use
The type of machine and its typical lifecycle must be considered in terms of its usage and whether its lifecycle will be shortened by consistent use. It is important to select the right machine for the purpose that it is intended to ensure that it will last.
Available space to place equipment
The available space in the office will play a great part in deciding the type and size of the machine. It is also important to consider whether there is enough space for multiple photocopiers if more than one is needed.
