U.S. offices use more than 12 trillion sheets of paper every single year. Even though many businesses dream of going paperless, there’s still a big need for printers, copiers, scanners, and physical documents. And when it comes to printing equipment, you can either buy a printer outright or rent one instead. This guide will introduce the concept of printer rental and highlight five big benefits of renting printers for growing firms.
How Does Printer Rental Work?
With printer rental, you don’t buy and own a printer outright. Instead, you simply rent it from a provider. Typically, you’ll sign a lease contract with the provider, agreeing to rent the printer for a set period of time (typically 3-5 years).
With the contract signed, the company will send the printer out to your office and set it up. You can then use it as if it was your own, paying a monthly fee for the privilege. With some leases, you may even be able to officially buy and own the printer once the rental contract ends.
It’s also common for maintenance agreements to be included with printer rental. This means that the provider will cover any repairs that the printer needs during the time you’re using it. However, contracts can vary from firm to firm, so it’s always important to read the small print and know exactly what the lease entails before signing.
5 Big Benefits of Printer Rental vs Purchase
If you’re not sure whether printer rental is right for you, here are some of the main advantages of this option:
A Cost-Effective Choice
Statistics show that printing is often the third highest business expense, behind only payroll and rent. Many companies spend huge amounts on printing, and new printers can cost thousands of dollars each, eating a huge chunk of your business budget.
For growing firms, budget management is crucial. That’s why printer rental might be the better choice. With rentals, you get to avoid the big one-off payments and up-front costs. Instead, all you have to worry about are the much more manageable monthly installments of your rental agreement. You can also save a lot of money on maintenance.
Flexible to Match Your Business Needs
Another big advantage of printer rentals is that the contracts are often quite flexible. You can negotiate to get a good deal if you find a good firm to rent from. They may even offer a range of different contracts and rental types.
For instance, some firms may offer $1 rental agreements. With these rentals, you’ll basically pay off the entire value of the printer during the lease period. Then, at the end of the contract, you can pay a token dollar to own the printer outright. Other firms let you upgrade to new models once your initial contract expires, which can be beneficial for companies that are growing larger and have higher printing needs.
Less Stress About Maintenance and Repairs
As your business grows, you’ll have a lot of new things to worry about. There will be more employees to manage, a larger payroll, more clients to satisfy, and so on. On top of all that, you won’t want to deal with tiresome printing problems and costly hardware failures.
Investing in a printer rental agreement can save you a lot of hassle and headaches. The renting company will take care of all maintenance for you. This means that you won’t have to hire your own printing repair specialists, nor will you need to worry about expensive periods of downtime when the printer stops working.
Affordable Access to High-End Models
There are lots of different printer models out there. Some are basic and budget-friendly, with only the simplest functions, like black-and-white printing. Others are much more advanced, with many different functions and powerful levels of performance.
Those high-end models might be out of your price range. However, by renting a printer and paying a much smaller monthly fee, those top-level printers become much more accessible. In many cases, renting is the only way to get the best possible printer to meet your business needs as it grows without spending a fortune.
Unique Tax Advantages
As businesses get larger, so do their tax bills. However, there are lots of different ways to minimize your business taxes. One of the lesser-known methods to reduce business tax is to rent office equipment rather than buying it.
Renting a printer could help you avoid the Alternative Minimum Tax (AMT). Not only that, but you can also deduct printer rental payments from your taxable income. The rental fees can be classed as business expenses, saving you even more money.
The Drawbacks of Printer Rental
Despite all of its advantages, printer rental isn’t perfect. It’s important for any business owners considering this option to be aware of the downsides as well as the benefits. For example, even though you’ll save money on the up-front costs, you’ll usually end up spending a bit more in the long run on a rented machine compared to buying one outright.
In addition, contracts can vary from provider to provider. Some firms are quite generous with their maintenance agreements and allowances. However, others can be much more restrictive with their small print. So, even though rental seems easier and more convenient, you’ll still need to put time and effort into finding the right provider and negotiating a fair deal.
Despite these drawbacks, renting a printer can be lucrative if you want to scale and don’t want to keep tabs on the printing budget.
Get the Right Printing Equipment From a Firm You Can Trust
Overall, printer rental can be a great choice for some businesses, especially smaller companies, startups, and those that are in the process of growing larger. However, it also has some drawbacks. This might leave you unsure about the best option between renting a printer or simply buying one.
If you’re not sure what to do, get expert advice from the team at Docutrend. With years of experience in printing equipment, we can help you decide on the most cost effective and efficient option, whether that be rental or purchase. We can also assist you in choosing the best possible printing equipment to meet your business needs.
So, for printing help in New York, Totowa, Pennsauken, Edison, or Ft. Washington, contact Docutrend today.