Renting an IPL machine can be a risky business, so let's examine this and look at both the upside and the potential pitfalls.
Renting an IPL machine comes in many forms.
There is leasing, Lease Purchase, outright finance and straight forward renting.
Looking at these options, what is best for your business? When considering this you need to think about your finances and how you will pay for the equipment.
It's no secret that it is better to pay for capital equipment out of income than capital, especially with equipment that generates it's own income stream the way an IPL system does.
In fact, an IPL system offers more n terms of revenue per square foot than any other beauty equipment, so having one makes good commercial sense.
Leasing has its pitfalls, the main one being that you are generally tied into a long financial contract with huge penalties if for some reason you miss a payment or cannot pay.
There is also an issue of ongoing support.
If you lease, it is like a loan and generally, the warranty is a separate provision, usually from the main vendor.
If that vendor ceases trading or runs into difficulties, you can be left high and dry with equipment that doesn't work and a few years left to pay on it.
Refusing to pay unless you receive support is unwise as the lender will sue and most likely win, leaving you with a huge legal bill.
The reason for this is that the lease contact does not relate to the service contract.
it is a separate stand alone agreement and stopping payments will destroy your credit rating.
So, what do you look for? It makes sense to find a rental system that has the warranty support tied into it.
Or, that the company renting to you is the same company that provides support.
This type of agreement works well for you because whilst ever you make your payments, you are more likely to receive support.
It is in the vendors interests to look after you.
It is still unwise to with hold payment, as you could still be sued and it will always cost you something.
The best solution is a short, no commitment rental service.
Rent for as long as you want, and if you don't want it, send it back without penalty.
Whilst ever you are paying, you get service.
Don't want it? Send it back.
This makes most commercial sense as you can return the equipment without cost or risk to you or your credit rating.
The system still pays for itself out of income, so if income is low and does not justify the rental, return it without financial penalty.
It's always sensible to do your research before entering into any finance or rental agreement.
Some are very one sided and you need to make sure that you are no penalized if things do work out.
The last thing any business needs is pressure from lease companies, especially for equipment that has broken down and the vendor does not exist to fix it.
You still have to pay.
Mitigate that risk with due diligence and make the right choice for your business