The pumps, shears, electromagnets, and construction tools that make up the broad field of industrial equipment aren’t cheap. Given their importance, you don’t want them to be. That doesn’t mean you can’t save a few bucks without sacrificing performance. Here are five ways to save money on your industrial equipment to keep costs in check as you manage your facility.
Don’t Buy More Than You Need
An electromagnet that can lift five times what you’re used to lifting? Not if it costs five times more. Resist the urge to fall in love with super specifications. It’s easy to convince yourself to buy machinery and tools that exceed your needs. While it’s important to think of your future, some extravagant purchases never end up justifying themselves. Try to keep your expectations modest and don’t splurge.
Make Occasional Pre-Owned Purchases
You know what they say about new cars: they lose half their value the moment they drive off the lot. That’s why you can save a lot of money with even a lightly pre-owned vehicle. The same holds true for excavators and other big-ticket tools of the trade. While you should strive for brand-new equipment and machinery in many instances, there are times when budgetary concerns can make pre-owned items worth exploring. Look for a used excavator to outfit with new attachments.
Ask What You Can Rent
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Perform Regular Checks on Existing Equipment
There’s yet another way to avoid buying new equipment: take care of what you already have. Performing regular equipment safety checks on your industrial machinery and tools can help you intercept issues before they get out of hand and cause a costly breakdown. That means repairs instead of replacements—and that means big savings on your business’s ledger.
Don’t Call a Repairman
Industrial equipment works as hard as its operators do. Even if you keep up that maintenance schedule, you’ll likely run into necessary repairs. One of the best ways to save money on your industrial equipment is to keep maintenance in-house. Explore whether you can train employees to make these repairs rather than contracting with outside vendors to make these fixes. You don’t want to call a plumber when you can fix your own toilet. The same goes for your equipment.
