Does your business manufacture anything? If so, you will be aware of how much machinery will cost for your production areas. It’s no secret that manufacturing businesses cost a lot of money to set up.
During such austere times, all startup businesses need to keep their spending down as much as possible. Your business will cost more money to set up than most. But did you know that one way you can reduce your startup costs is to buy used machinery?
Today’s handy guide will show you how you can save money by buying used machinery. It will also give you some tips on how to avoid ending up with unreliable or broken equipment.
The first step is to do some thorough research. You need to know what machinery you need to buy. There’s no point buying used machinery that won’t get the job done for you; it’ll just be a waste of your time and money otherwise!
Once you know what machinery your new startup business needs, the next step is to see who’s got some for sale. There are plenty of places where other companies will sell their old machinery.
You might think that the best places to check out are eBay and Craigslist. But where heavy machinery is involved, it’s best to contact companies that buy and sell such equipment. Industrial machinery is often specialist. That means you need to find the right broker that sells the machinery your new business needs.
It’s likely the machinery you want to buy will have a four to six-figure price tag attached to it. Before you spend any money on used machinery, you need the opportunity to go and inspect it first.
At this point, I recommend taking an engineer or machinery expert with you. By doing that, you can have them inspect the machinery and identify any common faults.
Some machinery might need new bearings. In those cases, companies like Statewide Machinery Bearings can help. You will then get an accurate idea of how much it will cost to recondition any used machinery. That way, the machinery will be as reliable for your business as possible.
Don’t get scammed
The sad truth is that there are a few “rotten apples” out there. They spoil the party and make life a misery – at your expense.
When buying used machinery, please use common sense and follow your gut instinct if you feel something is fishy with the deal.
Some of the common tactics scammers use include asking for deposits before seeing the machinery. Others might try to sell you stolen machinery at knock-down prices. To avoid the latter happening to you, check the serial numbers with the manufacturers.
Be flexible with your negotiation
Some folks are terrible negotiators. They might refuse to meet a seller “halfway” in a financial sense.
Let’s say that some machinery you want to buy is up for sale at $1,000. You offer $500, but the seller will take nothing less than $750. You are saving $250 on the deal already!
If you and the seller know that is the best price for the machinery you want to buy, don’t insult them with lower offers or threats of walking away from the deal. You both know it’s a good deal, so just take it!
If you use this guide to buy used machinery, feel free to let us know how you got on!