There are Multiple Choices for Acquiring Laser Equipment
When looking to further expand your cosmetic practice, you are not limited as to how to acquire an aesthetic laser. First do a cost analysis of your company to determine how much funding is available. Then take a look at renting, purchasing, or even leasing a machine. Each choice comes with its own pros and cons. It all depends on which method works best to match your company's goals.
Purchasing a Laser Device for Your Practice
Buying a new cosmetic laser device consumes a large amount of your funds. That money may be needed for purchasing a major asset when you least expect it. It also leaves you short capital when times are lean. And what if an unanticipated expense comes up in the near future? You need to keep funds in reserve for such things. These possibilities are something to consider before making a major purchase.
Renting Cosmetic Laser Machines
If you are short of funds, renting laser equipment might be the better choice. Then you are providing an additional service without putting yourself in a financial bind. Your profits remain steady while your client's satisfaction goes up. A contented customer will often refer you to their friends, which means you gain more clientele.
Choosing to Lease Laser Devices
Another option is to lease the device. This works well if you want to provide this service for a longer period of time to various customers. Since it doesn't show up in your credit history, it won't affect possible credit approvals like loans. Your reserves will remain intact and you can access your money when you need it for a new asset.
When money is tight, leasing a cosmetic laser machine is probably the best choice for you. It helps to keep your money free, which in turn contributes to your practice increasing by leasing multiple machines at one time. This way, you can offer even more services all at once.
How Buying Laser Machines are Affected by Taxes
Looking at all the options above may have helped you determine which method to choose for obtaining your laser equipment. Don't decide just yet. First, talk to a tax accountant about tax codes, as these codes change each year. Depending upon what year it is, you could deduct as much as $500,000 when purchasing a machine. Weigh all aspects of before deciding which option will best fit your needs.