When you’re looking to purchase a new piece of construction equipment, you want to make an investment. While you want to get the most bang for your buck, you also want a piece of equipment that will get the job done both efficiently and effectively, and, most importantly, you want a piece of equipment that will last — because when it comes to construction equipment, there’s not much room for mistakes.
Today, navigating the equipment landscape has become even more complicated. The wealth of information that the internet offers business owners can be both equally empowering and overwhelming. If you don’t know what you’re looking for, it can be easy to get lost in the vast amount of information available. At Small Business Growth Partners, we’re here to help guide you through this complicated process.
Check the Specs — and the Reviews
Investing in a new machine always starts in the same place — the online specs. The safest bet on equipment specs is to get the numbers directly from the manufacturer, and the internet truly speeds up this process. Most original equipment manufacturers, or OEMs, allow you to download digital brochures or even compare models side-by-side on their website. When comparing equipment, narrow your search down to three or four models that may suit your company’s needs.
Once you’ve narrowed down your choices, dive into reviews. Just like anything else you shop for online, unfiltered reviews will give you the most honest look at a product. Search for reviews outside of OEM sites; online industry forums will offer an unfiltered look at each product. When evaluating reviews, see what other contractors have to say about both the machine’s performance and the relationship with the dealer. Just be sure to take these reviews with a grain of salt; just like a bad meal, customers are more likely to share negative experiences over positive ones.
Partner with a Dealer
While the machine needs to fit the bill, you also want to work with a reputable dealer. Both the machine and the dealer’s service capabilities need to be a perfect match for your needs. A good dealer will be able to partner with you, becoming your first point of contact for maintenance, telematics, and more. It’s important to evaluate the scope of your project when considering a dealer. Consider which dealers are able to support you and your business’ needs best. Be sure to factor in the location. For example, regional contractors will need multi–state support that only enterprise dealers can provide. Vet your dealer by asking them about telematics, dealer support, and the different payment options they offer.
It’s the Cost that Counts
A machine is more than its price; you have to factor in the costs that come with it. When you’re considering a new piece of equipment, ask yourself the actual value of ownership. Factor in fixed costs, such as monthly payments/insurance and operation costs, including operator, fuel, and maintenance. A reputable dealer will be able to help you determine the true value of ownership.
When you’re looking to invest in a new piece of equipment, it’s crucial to work with a partner who can support both you and your business’ needs. Small Business Growth Partners is here to help your organization embrace the future through our strategic approach to small business coaching. From reviewing and analyzing your financial information to helping you better leverage your time, we help you save time and money while creating a highly profitable business. To learn more about our services, request some free information on our BPA process.
