Pros & Cons Of Buying New, Old & Refurbished Shop Equipment
The type of shop equipment you need will depend almost entirely on the type of business you have. An apparel store will need certain types of shop equipment which will be completely different from what a pharmacy would need. There are some basic tools and shop equipment that all stores will need but we are not talking about those handheld or semiautomatic tools.
There are three choices at your discretion when you buy shop equipment. You can buy them new, old or used or pre-owned and you can buy refurbished ones. The eventual decision is entirely your prerogative but knowing and weighing the pros and cons of each choice is a rational thing to do.
Here are the pros and cons of buying new, used or old and refurbished shop equipment.
- The biggest advantage of buying new equipment is that it is new. It has never been used or owned by anyone. The equipment is in factory condition and is thus in the best of shape and function than it will ever be. New equipment has a degree of visual appeal that would impress almost anyone. But the biggest disadvantage of new equipment is the cost. Whether it is a startup business or a storeowner has to buy some equipment all of a sudden without much financial planning going into it, the cost of new shop equipment will always have a bearing on the company’s finances. Not every storeowner will have the financial luxury to invest in new shop equipment all the time.
- The biggest advantage of buying used equipment is that it is affordable. Depending on the type of equipment you need, the cost of used ones can be half as that of new ones. At times, the cost could be less than half of new ones. The disadvantage of used equipment is they are pre-owned and thus old. They may not be in perfect condition, aesthetically or functionally. However, buying from a good store will ensure that the used shop equipment is functional and safe as the store would have checked that before selling.
- The biggest advantage of refurbished shop equipment is the cost and the fact that it can be as good as new. Refurbished shop equipment costs a little more than used ones but much less than new ones and they look much better than used stuff, considerably close to being in factory condition. But there are two types of refurbished shop equipment you would come across, one that is refurbished by the manufacturer and the other that’s refurbished by the seller. Manufacturer refurbishment attends to technicalities and functions whereas seller refurbishing may only attend to the aesthetics.