Tips for Buying Used Industrial Equipment
For industrial businesses, buying used equipment can be a great way to purchase what your business needs — at a much lower cost — without compromising quality. It’s important to source used equipment from reputable sources, as well as consider how you’ll properly maintain and protect the used equipment on your job site.
Sourcing Used Equipment
Small business owners know the importance of being thrifty; every dollar is important, and choosing when and how to spend your capital requires careful decision-making. One excellent way to save money is by purchasing used equipment for your job sites. While it’s tempting to jump right in, your time will be better spent by researching reputable used equipment dealers.
If you’ve found a dealer who has the equipment you need, take time to consider a few things such as the reputation of the seller and the age of the machinery you plan to buy. If possible, ask to see the equipment in person, and ask for maintenance records. Be sure to inspect and test out any equipment before you purchase, and look for signs of wear and tear.
Buying equipment online is tempting, but there are some downsides: You won’t be able to inspect the equipment in-person, and you may have to deal with slow delivery time. However, you can often find better prices online, which could be crucial for a cash-strapped business.
Another option for buying used equipment is through auctions. Industrial auctions happen both online and in-person, and buyers can often find high-quality used equipment at a price much lower than retail. Of course, you should research the seller and conduct the same equipment checks for signs of wear, such as cracks, rust, and leaks.
Maintaining Used Equipment
After you’ve purchased the used equipment you need for your business, the next step is vigilant maintenance. Learn what you can about its service and maintenance history, and make a plan for keeping it in top shape. Some general tips from Machine Design include regular lubrication and cleaning, as well as routine inspections to monitor wear and tear. Research and follow the equipment’s performance specifications, and be sure you train your employees to follow those specifications and maintenance requirements. Get the equipment serviced at regular intervals, and learn about potential causes of machinery breakdown. By identifying these potential causes, you might be saving yourself money from costly repairs and lost work.
Protecting Used Equipment
Along with regular maintenance and inspections, there are additional steps you can take to protect your new used equipment. One option is durable paneling for your equipment that will shield it from harm. Panels are multipurpose and can protect equipment from inclement weather, hazardous chemicals, and cleaning products. Both front and back panels are available, made from different materials depending on your needs and how the equipment is used.
A common way that equipment can deteriorate is due to corrosion, which is a degradation of a material due to a reaction with its environment. The best way to prevent corrosion is by applying a protective layer to your equipment, such as corrosion-inhibiting paint, which can be low-cost and reapplied when needed.
As you begin the process of finding used equipment for your business, take your time and do plenty of research before you buy. If you’re buying in-person, make a checklist of what to inspect before you visit the dealer, and ask to test out the equipment. Make a plan for maintenance, and protect the longevity of your equipment by installing durable panels or coating it with corrosion-blocking paint. As a small business owner, the research and care you put into your equipment will mean more money in your pocket in the long run.
If you’re ready to do more than buy equipment and a new business is on your mind, contact Ivan Lilov today. Ivan can help you buy a business or sell the one you have.