When is the Best Time to Purchase New Equipment?
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Transcript of When is the Best Time to Purchase New Equipment?
When Is The Best Time to
Purchase New Equipment?
Every business owner knows that cash flow is king. Therefore, WHEN you purchase is just as
important as WHAT you purchase.
When you see a competitor’s new piece of equipment, or something new at a trade show,
often it’s tempting to purchase one of your own.
That’s almost always a bad idea!
Why December is a Good Month for Buying Equipment
My advice? Wait till December.Why?
4 Reasons why December can be a good time for your equipment
purchases.
#1: It’s the end of the year and
you can group all of your equipment
purchases into one time period.
#2: You can negotiate your purchase more easily with dealers.
More volume = More buying
power = A better deal for
you
#3: Think Depreciation! You can write the expense off on your taxes for the current year.
When you buy in December, you get the deduction now. If you buy in
January or February, you will not get the tax benefits until March of the
following year.
How to Get the Biggest Benefit From Depreciation
#4: It forces you to plan ahead. Smart Planning For Your Business
Ask yourself:
A. What has happened in
the last couple of
years?
B. What do you expect will
happen next year?
Be sure to consider your marketing strategy and if your marketing is ready to compliment your new capabilities.
Bonus Tip: Buy local! You need to be able to get parts overnight and get your equipment fixed immediately.
Resist the temptation to buy the “cool, new lawnmower everyone is talking about” if
you can’t get it serviced locally.Why the Cool Equipment Isn't Always The Best Equipment For Your Business.
You can feel good about lowering your tax bill for the
year.
You will also have more money in your pocket that you can reinvest into your
business next year!
Service Autopilot has the critical features that will help you manage your time and maximize the ROI
of your lawn care business!