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Adverti$$er
July 2023 #15288 Page #17
When is a Smart Time to Buy Machinery? etermining the smartest time to buy machinery depends on various factors, including your specific needs, budget, market conditions, and the nature of machinery itself. When we have a conversation with our customers to help them determine their machinery requirements and decide whether it is time to buy, these are the factors we suggest that they consider.
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By Wendy Boyd Chief Customer Officer Machinery Group Spida Machinery
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Product age and condition: Consider the lifespan, depreciation, and expected uplift in your market share when considering new machinery. If your existing equipment is approaching the end of its useful life or has become obsolete due to technology or safety, it may be a good time to buy.
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Cost and budget: Your financial situation and budget are certainly a factor. Evaluate your financial position and any budgetary constraints and always consider any tax incentives or financing options, as they can impact the overall affordability of the machinery. • Market conditions: Keep an eye on market conditions and, of course, supply and demand. As a supplier to your industry for frames, trusses, floors, and other components, it is too easy to miss out on gaining market share in your area, or supplying your builder with the whole house package, just because you haven’t considered investing in new machinery. • Production needs and capacity: Analyze your current and projected production needs. If you anticipate increased demand or changes in your supply arrangements, or if your current machinery is becoming a bottleneck in your operation, it may be a good time to invest in new equipment to enhance productivity, expand capacity, or branch into a new area of supply.
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