Business

How To Budget For Industrial Machines

The purchase of a large piece of machinery is not something to be taken lightly. It can take some serious thought and planning to decide what the best option would be for a specific company.

Below are some options available for the purchase of heavy equipment in general and tips on which would be best depending on where a company stands.

Leasing

This would be one of the better options for a just-starting-up business that doesn’t have a very substantial amount of cash handy. Since the payments don’t show up as debt, the company’s financial statement is not affected.

Getting approval for a lease is usually a pretty quick process, sometimes only requiring a few hours. And if the company so desires, maintenance can be included.

Heavy Equipment Financing

Public Banks

This would be the better option for a company that wants to actually own the piece of machinery. The best option would probably be to turn to a bank to help out, since their interest rates would most likely be the best ones you’ll find. However, pristine credit will most likely be required in order for the bank to be willing to let you borrow the money.

Private Investor

If, by chance, the bank turns you down, all hope is not lost. There is always the option for a private investor. Now, the interest rate will not be quite as good as the bank, but the investors’ helpfulness in other areas can make up for the difference.

Hard Money Lender

A third option would be a hard money lender, or an investor with a large amount of money who lives in the area of the company looking for a loan. This would be a private loan, so there aren’t any restrictions or limits on the agreement. This lender could only be interested in a short-term agreement, or they could be interested in owning a portion of the business. This option, however, would probably have the steepest interest rates.

Examples

Getting a look at actual numbers for specific machinery can help you to visualize things better. Let’s say you need to buy a plasma cutting table for your business. The prices for these usually run between seven and nine thousand dollars. So, for the sake of simple math, let’s say the one you want costs $8,000.

Suppose your good credits lands you a loan from a bank. You plan on paying the loan off in a year, so the amount you will pay each month is going to be about $667.00 plus interest. The same could go for private lenders, but as was said before, the interest will probably be higher, meaning you will end up paying more as time goes by.

Now let’s say you want to buy a hay baler for $17,000. The same concept applies. It’s a significantly larger amount of money, so let’s say you’re shooting to pay it off in two and a half years. That would be about $567 per month.  John Deere is one company in particular that offers in season cash bonuses, or 0%-3% fixed rates depending on the terms of the contract.

This time, let’s say you are working with a private investor. Your interest payment is going to be somewhat high compared to a bank, but maybe the investor has a mind for the agricultural business. The advice or opinion of this investor to help you make other decisions could make up for the interest you are paying them and help you to make wise financial decisions down the road as well.

There are many options when it comes to financing for large equipment. The company where you buy the equipment should also have financing options, so working with them can be beneficial. After all, you are buying their equipment. Who would know better than them?

In the end, the most important thing to remember is to make sure you are getting equipment of high quality. Without that, any financing you do is wasted.

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Business

Four Things To Remember For Your Next Exhibition

At the beginning of the year, it’s likely you will discuss with your company directors what your marketing budget and strategy will be for the year. There are of course a number of different ways to advertise your business from print ads to internet marketing, but a traditional form of advertising that can be put straight in front of your target market is doing exhibitions and events.

Regardless of which market you operate in, there will be an exhibition that is perfect for you; so whether you work in the hotel industry or the engineering trade, spend some time identifying the right event for you. Once you have chosen which event you would like to exhibit at, there are a number of considerations to make so your experience runs smoothly. Here are a few tips for your next exhibition:.

Be professional

It’s commonly regarded that people buy from people, so make sure that the people that you have on your exhibition stand are professional, knowledgeable and friendly. Looking for event staff? You can employ people outside of your organisation if your staff members simply don’t have the time or skills to show off your product or service in the best light. In terms of staff on your exhibition stand, it’s worth getting them all a uniform and name badge to make them easily identifiable and easier to approach for attendees.

Catch people’s attention

You’ll want people to actually come to your exhibition stand first, though so make sure it catches their attention. Many exhibitions permit you to buy “space only” instead of a shell scheme, which basically means you get allocated floor space but then it’s up to you to build your own stand. Luckily there are many exhibition stand contractors who specialize in custom-built stands; these can cost a bit more but it could be worth it if you attract more visitors to your stand, which eventually could lead to a higher number of sales.

Provide marketing collateral

Once you’ve attracted people to your exhibition stand and you’ve spoken to them, make sure you leave them with something to remember you by. When you consider that exhibition attendees will speak to many businesses throughout the day, they may not remember each and every exhibitor to exact detail. This is why you should offer some marketing collateral and branded giveaways on your stand so people can take something back to the office, or home, with them. This may be in the form of a brochure, a business card, or a simple A5 flyer. Whatever you get done, it’s advisable to have it professionally designed and printed to give the most professional appearance.

Share your knowledge

Finally, check ahead of time whether the exhibition will have any seminar sessions. You could negotiate a speaking slot in your stand space package, giving you an audience in which you can share your knowledge. It’s a time for education and not direct sales, so make sure you keep content about important industry research. Of course, you can let the audience know where they can find you in the exhibition hall to speak to you further.

About the author

Danielle Edwards is a marketing manager at a Newcastle-based hotel. When she was first looking for event staff she took to the internet to find a suitable and professional company. She now runs exhibitions for her company with ease.

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Business

Why We Need Experts For Sending Our Good Overseas

Business owners always need experts for marketing of their goods in other countries and promote it globally. Being businessmen, they want to increase sales of their products and gain maximum profit from them, so every businessman has desire not only to sell their products in the market but also trade in the foreign market.To complete this process and finding the correct shipping company, shipping Abroad becomes very important.

Given below are the reasons why one needs experts for sending their good overseas:

Legalized option

The first and the foremost reason why one needs experts for sending their goods overseas is that these experts are legalized and have genuine certifications of oversea trade in their hand. These overseas experts follow the set rules and guidelines associated with the protocols of the overseas trade in order to offer genuine overseas good export services. The business owners although can themselves carry out export of the goods overseas, but they can face tough times as they will not be familiar with the laws and rules of different countries related with goods export or student car shipping. A reputed expert dealing with good export overseas can guide the good owner in a more precise and reliable manner.

Prior expertise

The experts of good export overseas are fully trained and have years of working experience under their belt in order to offer dependable and genuine export services to the trader or good exporter. Most of the registered good exporters have years of knowledge and experience in selling off the different food items to the various nations.

Accustomed to overseas market

The other main reason why one should opt for availing the services of experts for sending their goods overseas is that these experts are fully accustomed to the rules and regulations of the different nations related to the good export or trade. In case the trader or exporter faces any problem these good exporters can offer timely and valuable legal services, related to good export to them and help them solve the given problem.

Make the task of business owners quite simple

The experts in the field of selling goods overseas or abroad make the lives of the good exporters quite simple and stress-free. The exporters or goods owners need not worry about the tough and lengthy procedure that is connected with selling the goods overseas, due to their genuine and experienced export overseas working experience. In case the owners of the goods have to sell their goods overseas personally they can face many problems in this task, but by availing of the services of trained and expert dealers or experts, they can get rid of these problems or troubles.

Reliable service

When business owners or traders sell their products overseas they try their best to ensure that their products reach its buyer or customer. In this way, these experts make the task of sending student car shipping goods overseas most appropriate and reliable, for both businessmen sending their products overseas and the customer located overseas receiving the given product.

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