If you feel that you need more cosmetic lasers to treat your patients, you have a few different aesthetic laser rental options. One is that you can simply buy them, another is that you could rent them, and finally you could lease them. When you are figuring out which option to go with, it's important to consider what you need right now, as well as what your future plans for your practice are. You also need to think about your current financial situation, of course.
Purchasing Laser Hair Removal Machines Outright
When you choose to purchase a laser hair removal machine, or any other item for that matter, it means spending the money that your company has in reserve. That reserve stash, the company's capital, might be better spent on other items, or simply saved in case you happen to have a a dry period. The more capital you have, the easier it will be for you to invest in new opportunities as well. So, those are all important things to consider.
Renting Laser Hair Removal Machines
An alternative to buying a laser hair removal machine is renting one. However, rental is really only a good short-term solution. Nevertheless, it's perfect if you are just trying to keep a loyal client happy by offering them a procedure that you don't usually offer. Since your rental cost will be lower than the price that you charge to the client, you won't be losing any money. Even though you might not make a lot on the individual procedure, your happy client is likely to keep coming back and even recommend your practice to others.
Leasing Laser Hair Removal Machines
The third and final option is to lease. Leasing a laser hair removal machine is great if you want long-term use of it to help multiple clients. The nice thing about leasing is that it won't show up on your credit report. If you have plans to buy your building or expand your business and might need to apply for a bank loan, your odds of being approved won't be worsened by the lease. Leasing also means that you will still have access to your money. You won't be leaving your companies reserves drained.
If you have budget constraints, leasing is the perfect option for you. It will allow you to get all the equipment you need to help your business flourish. Conversely, maybe your business is already thriving. If so, you might still want to lease some equipment, since you can get a 100% tax deduction for it.
Taxes as They Relate to Renting, Leasing, or Buying Business Equipment
Before you decide whether to do aesthetic laser rental or outright purchase a machine, it might be a good idea to ask for your accountant's input. The tax code is different each year. Some years you may be able to deduct as much as $500,000 in purchase costs for your business. At times when that rule is applicable, purchasing your laser machine may be a better option. So, be sure to take the time to consider all of your options prior to making a final decision.