When it comes to purchasing a new wide format digital printer for your business, there are a lot of options emerging in the marketplace. It has always been possible to simply buy a new device, but this approach can come with a bit of sticker shock for some businesses. Leasing a wide format printer provides an affordable alternative with the option to upgrade regularly. There is growing momentum for a new approach: cost-per-square-foot programs.
So, what are the benefits and drawbacks of each, and which is best for your company?
Buying a Wide Format Digital Printer
If your business decides to buy a new wide format digital printer, the biggest hurdle early on will be the availability of capital to invest in the new device. It is possible to buy wide format printers using various financing options, offering ownership of the machine without using cash reserves.
When you decide to purchase a new printer though, you are draining cash reserves from your business that could be used to spur growth in other areas of the company. At the same time, buying or financing your purchase provides no obsolescence protection as your devices age.
When considering the ownership benefits of purchasing a wide format printer outright, you should keep these limitations in mind.
Leasing a Wide Format Digital Printer
Leasing is a more popular option for companies with limited capital, or companies that have invested their lines of credit in business expansion. When your company leases a wide format digital printer, you enjoy a number of benefits. First among these is the preservation of capital. You don't have to invest your cash or secure financing in order to take delivery of a new wide format digital printer. Instead, you agree to a consistent monthly investment with a managed print provider that services your device over the life of its use.
With a lease agreement in place, you enjoy fixed monthly costs for your equipment and consumables into one affordable payment each month, saving more money on supplies and maintenance.
Best of all, you can refresh your equipment on a regular basis to ensure that your company has access to the best advances in wide format digital printers. Of course, this does present a minor drawback that your business will have to deal with regular changes in the devices used and adapt quickly to advances, but this is often outweighed by the many benefits of leasing a wide format digital printer.
Cost-Per-Square-Foot Programs for Wide Format Digital Printers
The wide format printing industry is shifting toward a new cost-per-square-foot program for ownership that provides a number of benefits for end-users. First and foremost, your business can have the machine it needs without worrying about how much it is used or obsolescence or maintenance issues. Use your wide format digital printer as much as you like, or as little as you like, and simplify all of the management and maintenance of your device.
With cost-per-square-foot programs, your company makes one call for service, gets supplies from that source and receives one invoice each month. Cost-per-square-foot programs offer a level of personal service that buying doesn't.
Which is Best for Your Business?
As with any other decision regarding equipment for your business, the decision to buy, lease, or engage in cost-per-square-foot for wide format printing is unique to your business. Businesses that operate with strong cash flows or those comfortable with price shopping for supplies often prefer to buy, while companies that want ease-of-use and a single resource may prefer cost-per-square-foot programs. The best option is the one that suits the purchasing preferences of your business.