Naturally, you have ambitious goals for your business as the year unfolds. Depending on the industry you’re in—retail, restaurant, salon, auto repair, etc.—your business equipment may play an essential role in your productivity and profitability. In this case, is the equipment that runs your business up to the task?
When should you consider taking out business loans for inventory and when should you make do with what you’re using right now? In addition, once you’ve got the funding, should you buy brand new equipment or consider using thrift-savvy techniques like repairing equipment, buying used equipment or buying refurbished equipment?
The best way to answer these and other questions you might have about equipment is to get a big picture perspective of your situation. Once you can analyze your current equipment needs, you’ll know what to do to fulfill them.
With that in mind, let’s review 6 questions you can ask to stimulate new ideas and a better understanding of your current equipment inventory.Read More