How many times have you considered buying a rock or concrete crusher but don’t like the price tag? Is price your number one consideration? Do you run your business by only buying machinery at the LOWEST price? Probably NOT.
You run your business by purchasing machinery that offers the greatest value and fits your particular needs. You invest in your business wisely and make prudent decisions to minimize risk while looking at future expansion. You do it ALL!
Having said all this, many people try to get started crushing rock or crushing concrete by purchasing cheap machinery because they are either scared of spending too much money, not sure of the future, or simply can’t get access to funds. In these cases, it’s important to consider doing nothing. Buying the wrong crusher, similar to buying the wrong machinery, can have serious consequences.
Remember that you are making an investment. You should do research to ensure you are minimizing your risk. Investing in machinery that holds its value is another consideration. Buying a name brand may offer remarketing advantages in the case that things change. Consider how easy it is to transport whatever you are buying. If you’re located in New York, would a potential investor/buyer consider buying your machine or would the cost of transport be cost prohibitive?
The cheapest investment may not be the BEST investment. Understanding all of your needs and business plans are vital in determining the overall investment, and if it makes sense, Talk with experts who understand what your plans are and can help you to make an educated decision.
When in doubt, it may be best to do nothing. Do the proper research and make sure that you’re giving your investment the best opportunity to succeed. Talk to other contractors who are in a similar industry. Share stories and get comfortable with the level of investment. Always consider the downside potential risk.
If after all your research you are confident the investment makes sense, GO FOR IT! There’s probably no way to eliminate all risk but educating yourself and understanding the size of the investment necessary to ensure success is vital. Don’t short change yourself. You could minimize your risk by choosing equipment that is medium-sized. Most likely medium-sized machinery will span a mid-sized market and allow you to bid most work. Let the little guys buy little equipment and the big guys make big investments. Knowing what level you’re at will pay dividends and ensure you don’t make the wrong decision.
Again, it may be best to wait and not buy on price only.
