Almost 90 percent of startups share printing woes right in the beginning; particularly fearing the upfront costs of buying printers and its high maintenance costs.
But, can you run your business without buying a printer?
Yes and no; in other words, you can run your printing operations successfully without ‘investing in a printer’.
As an alternative, printer renting and leasing can save you from immediate down payments and high maintenance costs.
Amazingly, you can lease a considerably expensive printer of your choice at reasonable monthly charges.
Now, if you are wondering whether leasing a printer is better than buying? What’s a better option: renting or buying a printer? What about maintenance costs, ink costs, and other piling up problems? How much does it cost to lease a printer?
Here I have answered all your questions about leasing a printer for your business:
How Leasing a Printer Is Better Option for Your Business?
Leasing a printer in the UK is a perfect solution to enjoy all your printing perks without any outright down payments. A small monthly fee; and maintenance costs dealt with by the company.
Let’s first understand what are the terms and conditions of a lease agreement?
In simpler words, you sign a legal agreement agreeing to pay a fixed monthly fee. The agreement can be between 3 to 5 years.
In case of cancellation of the lease before time, you will be charged a significant amount; so, choose carefully.
The ‘service contract’ includes all the maintenance costs: the repairs, ink, and toner refill or replacement.
Lastly, you can also extend the lease or purchase the printer by the end of the contract.
By the end of the day, printer leasing is a complete package!
However, if you have a business dependent on printers and copying; then, you should preferably invest in printers.
What are the Pros and Cons of Printer Leasing?
Small businesses and startups can skip on hefty, upfront tech-purchase. Instead, you can invest the money somewhere else to increase your business success opportunities.
Many businesses make the mistake of investing in average or low-quality printers. But, then, the maintenance costs pile up and the printer’s capacity drains out.
To save time and money, printer leasing is the right solution. Once the lease ends, you can probably afford a rather new and updated model of the printer for your business.
Let’s consider some quick-fire benefits and risks of leasing a printer:
Pros of Printer Leasing:
- No Upright Down payment: Printers are pretty expensive and every startup cannot afford tons of tech-investments. Leasing reduces the burden of such hefty payments off your shoulders.
- Maintenance: Printers arrive with high maintenance costs. Leasing a printer relieves the stress of paying for ink and toner cartridges.
- Better Cash flow: Initially, businesses don’t have money in hand, but major cash flow. Leasing provides you an opportunity to invest in better opportunities.
- Service Contract: Along with leasing, you can have ink or toner replaced on a monthly basis. Make sure you can only get a fixed number of printouts per month or may have to pay for extra supplies. High maintenance costs are paid via the monthly leasing costs.
- Tax Deduction: Leasing a printer reduces the tax bills. You can claim the lease fees as a monthly business expense; thus, getting a major tax deduction.
- Updated Printers: Leasing allows you to get an updated printer at a cost that’s reasonable for you. It saves the cost of upgrading printers with technological advancements.
- Easy to Finance: Lease agreement takes place between the printer supplier and business person, so it’s a quick process. You can also compare rates and find out what suits well to your business.
- Flexible Contract Ending Option: Once the agreement expires, you can renew, upgrade the lease, or buy the printer.
Cons of Printer Leasing:
- Expensive Option: Tech equipment leasing is a profitable business; therefore, they cover all the maintenance costs and repairs through years. By the end of the lease, you pay more than the actual cost of the printer. With the maintenance cost included, you end up paying an interest rate on the ‘original value’ of the copier.
- Contract Restrictions: Monthly lease payments can become a liability for startups sometimes. Even when you aren’t utilizing full printer resources, you have to pay for it; making it an extra expense. Sometimes, when the printing needs are greater than the initial state of business, you cannot make changes, upgrade, and accommodate in the running contract. Ending the contract arrives with its own extra costs; therefore, you are trapped in a contract.
All in all, if you can afford a printer at the initial stage, go for it. If not, leasing is the right and only option. You should sign a lease contract based on realistic goals and choose reasonable options to prevent any challenging cost liabilities.
What is an Average Printer Lease per Month?
Leasing is definitely a great medium between buying and renting options.
If you are wondering how much is leasing going to cost you per month; there are certain things you need to consider:
- Printing Volume & Speed: Calculate the average demand for printing per month. A team of 10 members may require only about 500-1000 prints. But, a bigger team would have double the printing demand. Similarly, you should be specific about how many numbers of pages should get printed within an hour. It varies from printer to printer.
- Paper Size: Would an A4 paper printing be sufficient? If you mostly have to work on A5 and A6 paper, you should lease a printer accordingly.
- Connectivity Preferences: Would a USB connection suffice? Or you need wire connectivity as well as Wi-Fi option to print.
- Functionality: What printing features would be regularly in demand? Do you need a monotone printer or a color printer? You can choose between print resolutions of 600 DPI to 1200 DPI. There is a range of printers to choose from—the cheaper and the updated plus expensive ones.
How much would it cost in the UK for all these options and services? Based on the maximum printing limit, brand, features, time period of the contract; printing costs can vary.
On average, you will have to pay £20 to £500 per month. It can get costlier if you choose high volume printing options and color printing options, etc.
Renting Vs Leasing: What’s An Affordable Option?
Leasing and renting, apparently similar, are quite different options. Here’s how?
Undoubtedly, renting a printer is a cheaper option. You can access your preferred expensive tech equipment for up to 30 days via a monthly contract. Once the contract expires, the supplier can take away the equipment. So, this is a temporary yet flexible option for startups.
Also, renting allows you to end the contract after 30 days. But, it’s also a less secure option as you cannot buy the printer later on.
In comparison, leasing allows you to buy the equipment by the end of the contract. Which is not an option in case of renting printers.
Leasing Vs Buying a Printer: What’s Better for Your Business?
Now, if you are weighing the option of buying or leasing a printer; leasing is an affordable choice. No outright payments, no monthly maintenance costs, and a fixed budget to keep your business costs manageable.
With high-grade printers having over £3,000 price range, and a need for more than one printers, leasing wouldn’t intervene in your financial goals.
Grow your business, pay small monthly costs, and invest your money in better things. If, by the end of a 3 to 5 years lease, you can pay the full cost of the printer; go for it.
5 Online Businesses That Should Choose Printer Leasing:
Is printer leasing the right option for your business? To find an answer, envision the definitive printing needs you will have in the next three to five years of a contract.
Online businesses usually have limited printing needs, but if your business revolves around “printing”, then you’ll need to get printers. For a startup starting from scratch, that’s challenging.
Let’s look at what online businesses might make the printer leasing option a reasonable option for you:
- Business Cards and Marketing Solutions
Several online businesses are involved in printing business cards, brochures, pamphlets, and business profiles, etc. for companies.
So, if you are a skillful graphic designer, running a business of printing and selling marketing materials for businesses; then, printer leasing is a great option.
- Wedding Cards, Greeting Cards, Stationary Items Designer:
If you have a business related to designing, printing, and selling stationary items, greeting cards, postcards, stickers, or designing ‘on-demand wedding cards’, then leasing is a great option once again.
- Photo Printing:
Several businesses print out collages or a preferred sized photos of their own. Whether you are into wedding photography, etc. or simply into photo printing online, printer leasing is better than buying.
- Publishing Business
If you are running a publishing and printing business, once again printers are an absolute necessity. High maintenance of all the printers is quite costly. If leasing sounds an affordable option, go for it.
- Print On-Demand Services:
If you are offering print on-demand services, you are going to need a printer or more to fulfill the printing needs.
If your business set up matches with any of these business types, you should also consider leasing a printer instead of buying one.
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