The buy vs. rent conundrum isn’t just for property. It’s something that business owners will be faced with at different points, like when setting up a workspace. So you’re probably wondering, should I buy or lease? Read our blog post to find out the pros and cons of both.
The buy vs. rent conundrum isn’t just for property. It’s something that business owners will be faced with at different points, like when setting up a workspace. Do you buy your office furniture or rent it?
In today’s instant gratification, ‘I don’t want to wait for anything’ world, it’s understandable why renting is tempting. But it’s important to understand the pros and cons of both sides of the rent/buy coin.
Equipment and furniture financing is excellent if you don’t have a large amount of capital to spend on quality pieces. That’s why bulk store purchase stores like Ikea are popular. But, as you now know, the thought given to each piece in relation to health is lacking.
With renting, you don’t have to find extra money from the get-go. This is really attractive, especially for start-ups. It’s easier to stay present with the latest technologies and product updates – out with the old and in with the new.
In the long run, buying your furniture is cheaper. By paying for something up front, you won’t spend anything on interest (that’s how they make their money). Also, there’s less stress each month because you don’t have to worry about that recurring bill. Just like buying a house, paying for furniture outright means you own it. You have an asset. With this comes flexibility. You can sell your items then upgrade. With leasing, you will be locked into a contract that you have to honour. Owning something adds value to your business. You can also claim the furniture as a tax deduction because it’s a business expense.
So, which one is best for you? When it comes to making that decision, focus on the piece of furniture itself. With office desks, office chairs and office tables, they usually have a longer ‘shelf life’, as opposed to technology equipment (that’s also often leased).
If you plan to keep something for a long time, buying it will give you a new asset. And this is really what business is about – building assets and creating wealth.
Creating a healthy work environment first requires an understanding of what your people need, then, an investment to create that reality. The best way to do this isn’t to rent furniture but instead, invest in ergonomic furniture that’s flexible and can cater to the person who’s using the chair or desk. We can take it one step further and custom design pieces for your team, so your suite of furniture is made just for you. This way, you’re maximising the value behind each chair, desk, and workstation.
Let us create furniture that’s 100% customisable to you – and will grow with the needs of your team into the future.
With over 30 years’ experience, we offer Australia’s best range of office furniture. With our user friendly online ordering capabilities through to complete design & construction we remain committed to exceed your expectations. Whether you’re an aspiring start-up company or one of the world’s best known blue-chip corporations, we have the solutions and options to suit your work-style and your budget, just contact us on 1300 734 105.