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Should I Rent or Buy the Technology Hardware for My Store?

EPOS Systems
Martina Mercer
May03/ 2017

Technology hardware can present a large outlay for your your store or business. EPOS systems and staff technology can be one of the biggest outlays your business can make. A good EPOS system will ensure you please the consumer. As consumers expect speedy transactions, complete security and high quality hardware as standard.

A glitch in a EPOS system can leave a consumer disgruntled, with contactless payments and quicker ways to pay, consumers don’t deal well with delays, no matter how small. Sticky buttons, and clunky dial ups can impact on consumer loyalty, while leaving a cashier red-faced.

The quality of EPOS systems used for your business should not be underestimated. As we’ve discussed previously, when visiting the RBTE and reporting on the new EPOS systems from Verifone, Epsom and Samsung, intuitive systems can actually grow the bond between a consumer and a store.

You already know how important it is to use a failsafe EPOS system that gets the job done, extra features are a bonus, you need reliability, strength and security. These assets are not inexpensive, to benefit from brilliant technology hardware you do need to invest heavily.

That’s why we ask the question of “Should I Rent or Buy the Technology Hardware for My Store?”

There are pros and cons to each, for example:

The Benefits of Buying EPOS Systems

If you buy Epos systems, always choose a reputable technology hardware sourcing service, such as PLM Global,  who can keep your costs down while meeting all of your business needs. A service like this will remove any guesswork and will ensure you receive the best deals on the latest technology. You can relay the information they need, such as the training level of staff and the current speed of checkout. The product sourcing service will then secure hardware completely bespoke to your business.

  • Another benefit if you buy technology hardware you can benefit from Capital Gains tax allowances by using good accountancy services.
  • You can sell the hardware when you’re ready to upgrade which will give your business a good cash injection.
  • Your hardware, if new, should come with a warranty and service guarantee should anything go wrong with the system.
  • If the technology you buy, is top of the range, you may be entitled to free staff training as a result.
  • You pay once, with no rolling fees and no interest

The Benefits of Leasing Technology Hardware

Leasing technology hardware is a sound solution for many stores and businesses. There are many benefits to leasing hardware rather than buying outright.

Some of these include:

  • You can pay a monthly fee that’s synonymous with your profits and what you need in the way of EPOS systems
  • You will benefit from regular maintenance and upgrades
  • You may be able to afford more up to date technology than you would should you buy outright
  • You will always have the latest technology
  • You can return the EPOS systems easily should the business be sold, should it expand or contract.
  • You may still be entitled to tax breaks, when using high quality tax return services.

Whether you decide to buy or lease technology hardware, one fact remains the same. You need the best EPOS systems in order to please your customers and to serve the most people in the least time possible. A store cannot operate without a good EPOS system in this day and age.

 

Martina Mercer

Martina Mercer is an award winning copywriter and digital marketer. She specialises in psychology delivering marketing that identifies consumer profiles and connects customers with brands. As an expert in proximity marketing, Martina is one of the only experienced beacon marketers in the UK highlighting her commitment to developing her skills in an ever changing consumer focused world.