When people plan to buy some equipment for their business purpose, they always compare the pros and cons of buying versus renting. Because the ultimate intention of any business is profit making and therefore drain of money should be minimized and judiciously done. Buying has the benefit that the money spent is utilized towards capital investment and the equipment procured can be used for many years to come. But when something is hired for temporary use the expense is little, but it is a waste as it cannot be used again and again. In this article I am going to discuss whether to buy or rent additional equipment’s needed for caterers equipment rentals.
When you have to meet an important order like a wedding reception you may find short of some catering equipments which can be bought as brand new one after paying a good some of money. You can also rent out some such equipment from chafing dishes rentals for a few days or weeks. After successfully managing the wedding party if it seems that you are likely to get continued orders from similar customers, you can decide whether to buy new ones or continue the method of renting out which you have already tried out. In both the cases you are the person responsible to take the proper decision.
If the need is occasional
If you think that there will be programs like a wedding function like only once in a while as you are new in the field and has not established enough good will yet, and if you don’t have enough money to buy new equipments, it is better you continues the process of renting out the necessary things form some rentals around the corner.
Test and consider various brands in the market
If you are financially sound and is confident of getting more functions then it is better to buy new equipments. But before buying you need to conduct a thorough study about the various brands available in the open market as well as online shops. Compare their functionalities and prices and decide which one will be the most economical one for your purpose.
The business scenario
Catering business require some minimum equipments and personals and office cum garage to start with. If you do not have much capital you can start buying some tables, chairs, linen and tents rentals va, balloons, flowers, decoration items, catering items etc and renting out some area. it will always better to hire out costly equipments in the initial days as it involves huge capital.