9 Small Business Office Equipment Money Saving Tips

"If you can, you will quickly find that the greatest rate of return you will earn is on your own personal spending. Being a smart shopper is the first step to getting rich." ~ Mark Cuban

If you're a small business or a home business owner with a short supply of money, the thought of buying new office equipment can be intimidating. Nonetheless, as an entrepreneur, working out solutions to tough business problems is part of your job. Whether you supply cosmetic and personal care products or deal in handicrafts, the following tips will help you procure office equipment at low cost.

1. Buy from bankruptcy and liquidation sales – When a company is winding-up, liquidators are appointed to collect all of its assets and settle all claims against it. You can find some useful websites selling a range of office products in bankruptcy sales e.g. liquidation.com. Refer to your local newspaper and yellow page listings for finding details of these opportunities. However, be careful about buying products online and always verify the credentials of a company before you place your order.

2. Buy from used goods shops – You can find a variety of used equipment from outlets selling second-hand supplies. However, you need to shop around for good outlets. You should be able to trust the sellers, and their knowledge of office equipment before reaching out for your wallet. It's always a good idea to check for references.

3. Buy from auctions – Purchasing office equipment from auctions can get you a good value for money in terms of quality, newness of products, and of course the price. You can either source office items from conventional auction events, or auction websites, which is a lot more convenient. Refer to your local newspaper for auction listings. As for online shopping, there are several good office supply auction websites on the Internet such as eBay, eBids, OnlineAuction, etc that you can bank upon. However, do check the help and support, reliability/security, fees, reviews, terms of service, etc of these sites before making a purchase.

4. Consider purchasing refurbished equipment - Buying refurbished equipment can help you save a lot of money, while providing you a good quality supplies. But in order to make the best of refurbished products you will need to carefully assess your purchase on different aspects such as, whether you're dealing with a qualified refurbisher or not? What's the warranty and the return policy like? What are the refurbisher’s fail and return rates? etc.

5. Consider leasing of office equipment - Leasing of office equipment can help if you have limited capital, and you need to upgrade your office equipment often viz. computer systems. Since there are advantages as well as demerits of leasing, you need to carefully assess these, and then decide between purchasing and leasing. Both you and your accountant can sit together and discuss whether it's a suitable option for you or not.

6. Purchase items in wholesale – If you need a particular set of items in large quantities, consider wholesale purchases. You'll be able get a good deal if you've shopped well for wholesale suppliers. At the same time, remember that if you don't need as much as is available at bulk prices, don't waste money ordering in bulk just because it's cheaper.

7. Be on the lookout for clearance, discounts, special offers – If you're alert about such offers, you might eventually get your hands on a completely new set of office equipment that's better than some of the used items you'll get at that price.

8. Just buy what you need – While you may have a wish list of office equipment items you want, you may postpone the purchase of non-essential items to save money. This is especially useful when you are setting up your business, and you're already burdened with other capital investments, business cash flow, etc. In addition, technology products such as computer systems, peripherals and other items can quickly become obsolete. So when you postpone purchasing non-essential items, you'll also get the benefit of purchasing the latest when the need actually arises.

9. Choose substance over style – If you plan to purchase new equipment, choose equipment that offer you the functionality you need, but don't include extra embellishments, which would send their prices soaring (just as you would purchase accounting software). At the same time, ensure that these products aren't too short on features to become obsolete in a short time, and as your business grows.