Many businesses face large expenses and limited choices when needing essential audiovisual production equipment and technology. Whether your business is adding live music capabilities, streaming services or needs a technology facelift, it doesn’t have to keep you sitting on the fence long. There are options with financial advantages.
However, one option makes it easy for organizations to add professional-level production equipment without the heavy expense, maintenance responsibilities and constant pressure to upgrade.
There are four key reasons why leasing could make perfect “cents.”
No heavy capital expenditure
Equipment leasing makes it affordable for businesses to obtain business-essential equipment and technology without the upfront expenditure. With a leasing agreement, production technology like lights, cameras and sound systems become operational expenses rather than capital expenses. It also spreads out the cost, making forecasting and budgeting easier.
Leasing helps organizations preserve cash flow and put their cash toward profitable uses, such as investments, hiring sales staff and marketing.
In addition to being an operational expense, leasing has tax benefits. Some choose to upgrade their equipment with a leasing agreement because it offers tax advantages over buying equipment outright. A pure lease rental agreement is tax-deductible because it draws from an operating budget.
Save on maintenance costs
Signing a lease agreement is almost like buying an insurance policy. If your leased technology breaks, a support team responds to get your business-essential gadgets up and running again.
And because you don’t own the equipment (yet), the team’s responsibility is to replace various parts to keep your audience seeing, hearing and engaging with your message.
Stay relevant without extra costs
You can get the best and stay relevant without pouring money into your production equipment by leasing. Signing an agreement with renewal options makes it easy to afford the best without high costs. Organizations can upgrade, make additions, or settle the finance agreement at any point.
This is especially relevant for entertainment spaces like clubs, music venues, comedy clubs and places where talent can come with riders and specifications that keep shows exciting and audiences engaged.