Restaurants, hospitals, spas, hotels, and athletic facilities are a few examples of businesses that leverage on-premise laundry capabilities. By bringing commercial laundry services in-house, companies can take advantage of many benefits, including:
- Increased efficiency and faster turnaround times,
- Flexibility to adapt to customer needs,
- Improved quality control and customer satisfaction,
- Cost-savings from bypassing delivery and service charges and reducing the number of linens to be kept on hand.
However, managing on-premise laundry requires investments in resources, including employees, time, utility costs, and most significantly, on-premise laundry equipment. A business that is considering implementing on-premise laundry systems or upgrading existing commercial laundry equipment is faced with a difficult decision: to purchase or to rent?
Buying Vs. Renting On-Premise Laundry Equipment
Buying on-premise laundry equipment is a one-time purchase, and can be claimed as a business asset and depreciated accordingly. There is less paperwork to complete, and buying may be more cost-efficient as a long-term investment than renting.
However, an upfront purchase can be expensive, as can maintenance and repairs. When deciding whether purchasing or renting laundry equipment is the best option for your business, you may want to consider:
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Depending on the size of your operation, purchasing on-premise laundry equipment may require a large capital investment to get started, but can lead to savings in the long-term. For companies where budget is a concern or cash flow is restricted, renting requires a minimal investment at the outset and a relatively small, predictable monthly payment thereafter may better suit your needs.
High-quality on-premise laundry equipment has many advantages – it lasts longer, is more energy-efficient, and provides better results than an inferior product. However, high-quality laundry machines are more expensive, so renting may maximize your ability to get the best commercial laundry equipment with easy payment options.
Renting often allows a business to replace outdated equipment with upgraded machines during the term of the rental, ensuring that your business has access to the most up-to-date and efficient equipment on the market.
4. Maintenance / Repair
With purchased on-premise laundry equipment, the owner is responsible for managing scheduled maintenance, repairs, and emergency equipment servicing. Often times, renting will include maintenance and repairs as part of the rental agreement. This works to the benefit of the equipment provider – keeping the equipment in excellent working order is in their best interests, as they maintain ownership. But it also works to the benefit of the business renting the equipment, relieving them of the burden of (potentially expensive) maintenance and repairs.
Pros and cons exist for both buying and renting on-premise laundry equipment, but your choice can depend on many factors including budget, management style, and other preferences.
For help deciding what’s best for your business, and to learn about how you can rent industry-leading laundry equipment with no upfront capital, contact Laundrylux for a consultation.
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