Rent or Buy a Money Machine?
As the new year approaches and your new marketing budget becomes available, you’ve made the decision to utilize event attractions such as a Money Machine Cash Cube. Perhaps you’re looking to increase sales or membership signups. Maybe you’ve got some big events coming up, you’re looking to expand your company’s outreach capabilities, perhaps you just need to replace your current event attraction. How do you decide whether it’s best to buy a Money Machine Cash Cube or rent when you need to?
There are pros and cons to both buying and renting. It is best to evaluate your company’s current status and capabilities (financial, etc.), what you plan to do in the future, then consider whether buying or renting is better suited for your brand. Most importantly, which option will be easier for you in the long run? If you’re reading this article you already know that cost is a major factor and quite possibly the most important factor. Here’s an overview of some things to consider when making your decision to buy or rent a Money Machine Cash Cube.
Current financial situation
Probably the most obvious factor: Do you have enough money to purchase a Money Machine Cash Cube now, or is renting more affordable? I want you to look further down your marketing journey and calculate your costs over several months or even years. Sure, outright purchasing a piece of equipment like a Money Machine Cash Cube may be a larger one-time financial investment, the cost of rentals can add up quick. Deciding to rent over a long period of time or even multiple short periods of time can end up costing you significantly more. The best part of purchasing, should you choose to sell your Money Machine Cash Cube in the future, there is a strong possibility you can make a real return on your investment.
It is important to consider the cost of ownership vs. the cost of renting. When you own a Money Machine Cash Cube, you’ll want to consider maintenance, storage and operating costs. The costs associated with renting are a bit more inclusive. Consider though, the rental company has to make profit and rental fees will include the cost of ownership and the purchase price, both marked up. When you purchase your Money Machine Cash Cube, you’ll be paying to ship the equipment one time. When renting, you’re paying for round trip shipping every time. If you’re feeling advantageous however, you could consider renting your Money Machine Cash Cube to other businesses when you’re not using it.
3. Length of campaign
Above all, perhaps the most important thing to consider is how long you expect your marketing campaign to last. If it’s a short term marketing strategy, such as a trade show or grand opening, renting is probably the better option. Especially if you don’t forsee utilizing the Money Machine Cash Cube again and again. The risk, of course, is that if the Money Machine Cash Cube isn’t being used for the entire time it’s being rented, then you’re spending money on something that is just sitting there. On the other hand, if your company is participating in multiple trade shows or events, purchasing is probably a better option. While there are many financial scenarios based on the type of Money Machine Cash Cube, it’s reasonable to consider that a week long rental of a high end model could equate to the purchase price of a more basic model.
About the author: William Hall is a seasoned business coach specializing in branding, social media and promotional events. William has spent his career teaching businesses of all sizes how to stand out in the crowd while using marketing dollars most effectively. His clients are continuously thankful for his out-of-the-box ideas that lead to increased revenue, more clicks and a bigger online presence.
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