Machinery, electronics trucks and other forms of equipment form the physical operating foundation of many businesses. Naturally, you want these items to perform efficiently and to last a long time with few breakdowns along the way; you can meet this end by creating and following an equipment-maintenance plan. If you are not sure why this strategy can be effective, consider the reasons outlined below to justify these actions.
Reduces Breakdowns
If your multi-use copier printer shudders to a halt just as you near a presentation deadline, its value is momentarily nonexistent. Your business can not operate efficiently stocked with unreliable equipment. To increase the odds that your copier or delivery truck will perform when most needed, even under a heavy workload, generate and follow through with a routine maintenance plan.
Enhances Performance
Dedicated maintenance will not only boost your equipment’s ultimate reliability, it will also enhance its day-to-day operating efficiency. Because most business equipment comprises many moving parts, any single malfunctioning part can cause performance issues. For example, a misaligned part in a copier can cause printouts to streak; even a dirty glass plate may produce unwanted images on a photocopy.
Puts More Money in Your Pocket
Spending on upfront maintenance, such as performing engine tuneups, can save significantly down the road. If your delivery truck breaks down, you have to find a way to get goods to their destination or forgo the delivery. You can, for example, rent a temporary vehicle. However, losing the delivery or scrambling to substitute a delivery vehicle will cost you in either lost revenues or increased expenditures.
Extends Equipment Life
Unless you plan to turn over your equipment annually, you will want it to perform for an expected lengthy ownership or rental period. Solid maintenance will add years of life to a piece of equipment; any productivity you get out of it beyond its equipment financing payoff will go to cash flow and profits.
Increases Long-Term Value
When you stock your company using equipment financing, lenders and lessors may look at the depreciation value of your equipment to determining a loan; this will be the case when your equipment is used as collateral for the financing. Obviously, the better you maintain your equipment, the stronger your loan position will be.
The phrase, long-term, is key when rationalizing equipment maintenance. If you want your business equipment to hum without hiccups and contribute to long-term company profits, you can ensure that outcome by taking care of every piece of equipment consistently from day one.
