A screen printing business can be a lucrative one. With an average cost of just $10 a day, and a high level of demand, screen printing us one of the most profitable businesses to own. Overhead is low, allowing you to create product as customers order it, rather than keeping a large inventory in house.
Like any business, knowing how to get started can be tough. What equipment should you choose? How much of an initial investment do you need to make? These decisions are ones you need to carefully weigh.
Leasing Vs. Buying: Make an Informed Decision
With rapidly changing technology, equipment you purchased just 3 years ago can be outdated, leaving you vulnerable to losing business to your competitors. On the other hand, owning your equipment outright frees you up to invest in other areas of your business, while leasing means you don’t actually own it. Leasing and buying bring different challenges, good and bad in different ways. So how do you know which one is right for you?
Depending on the volume of your business, buying may be right for you. If you’re planning on opening a small operation that you’ll run yourself, a manually-operated press is all you need. However, if you have a larger operation with even 1 employee other than you, an automatic press will be necessary.
Benefits of Buying
- Tax advantages
- Ability to resell equipment
- Higher valuation of your business
- Actually owning your equipment when it’s paid for
Before you decide to purchase screen printing equipment, consider leasing it.
Why Leasing May Be Right for You
- Ability to upgrade to newer equipment more frequently
- More liquid assets on hand as it’s not tied up in equipment costs
- Increased flexibility
- No cost maintenance
Whether you decide to lease or to buy your screen printing equipment, financing is available. You can discuss your individual business needs to find terms that work best for you. Before you do anything, start with a plan and carefully weigh the pros and cons. Always consult an expert before making any financial decisions. Wishing you continued success in your business endeavors.