A Guide to Hiring Photocopiers
Photocopiers are an important part of any business. Whether you need them to serve your company’s day-to-day clerical needs or to take on a higher volume load of printing and scanning, it is invaluable to find a use for one at your workplace.
Purchasing a photocopier, however, is only one of the ways to get your hands on such a machine. If your business cannot afford the hefty sum required to buy a new business photocopier, you may want to consider other alternatives such as Renting or Leasing.
Market Inspector has prepared a detailed guide on the photocopier rental and leasing possibilities and which option would best suit your business needs. You can find all the answers you need below.
If you are interested in finding more information on renting and leasing photocopiers, just fill in the form at the top of the page and we’ll make sure to provide you with up to four, free, non-binding quotes to help you make a well-informed decision.
Learn About Hiring a Photocopier
|Cost of Hiring a Photocopier|
|Differences Between Renting and Leasing|
|Reasons for Hiring a Photocopier|
|Should you Rent a Photocopier?|
|Should You Lease a Photocopier?|
|Hire a Photocopier for your Business Today!|
Before we discuss hiring a photocopier, it is important to understand what a photocopier costs. Depending on the size and the needs of your business, you can end up spending anywhere in the range of £100 to over £4,000. High print speed, larger paper trays, huge LCD display and high RAM are just some of the features that are usually found in high-end photocopiers.
However, all features will come at a premium and it is also possible that an office photocopier with very high print speed may be limited by other features.
Typically, any business will have specific needs and may not even use all the features they pay for. Further, with ownership, it is also essential to factor in the maintenance and supply costs. If purchasing is not your cup of tea, then take a look at the table below to find how much a photocopier hire will cost you?
|Print Volume||Copies (per month)||Renting Cost (per Month)||Leasing Cost (per Month)||Functionality|
|Low Volume||Up to 5000||2,000 – 4,500||£20 - £40||Basic Hardware|
|Mid Volume||Up to 40,000||8,000 – 9,000||£40 - £100||Advanced hardware, Faxing, Colour, Scanner/Printer etc.|
|Over 40,000||8000 – 15000||£100 - £300||State-of-the-art hardware, Faxing, Stapling, Binding, Larger paper trays, Network capability, Automatic document management etc.|
If we consider a mid-volume photocopier, we find that the photocopier rental costs (at £100 per month) can be close to £3,500 at the end of 3 years. Leasing, on the other hand, will be much cheaper - £1800 (at £50 per month).
Though leasing is cheaper in the long run, one must keep in mind that the leasing terms may not be as flexible as the rental terms. There are numerous other differences that must be taken into consideration before deciding whether to rent or lease:
|Short-term contracts (up to 3 years)||Long-term contracts (3 to 5 years)|
|More flexible contract terms||Less Flexible contract terms|
|Suitable for special events and high volume periods*||Suitable for businesses that can’t outright buy the equipment but have predictable print volumes|
|No ownership of equipment||Option of ownership of equipment at the end of contract|
|Depending on configuration, monthly cost can range from £20 to £300||Depending on configuration, monthly cost can range from £20 to £250|
|Costlier in the long run||Cheaper in the long run|
|*Special events include: trade shows, conventions, festivals, commercial fairs, exhibitions etc. High volume periods include: tax seasons, quarterly auditing, end of year reporting, legal work, contract work etc.|
Photocopiers can be hired for either short-term or long-term. Typically, short-term hiring is associated with renting, while long-term hiring is associated with leasing. Renting and leasing are two different mechanisms that allow business to meet their office needs. The following factors must be considered before choosing to hire:
1. Photocopier Usage
How often do you use a photocopier in your daily business operations? When you know the intensity and your photocopier needs, it is easy to work out how much hiring will cost over time. If after the calculation it is clear that purchasing a photocopier is cheaper in the long run, then you have the answer you are looking for.
2. Equipment Upgrades
Even though purchasing might seem like the better option in some circumstances, you should keep in mind that renting has a specific advantage to it that leasing does not provide. For example, in the case of purchasing a photocopier (during leasing), you need to pay a fee when upgrading the equipment, whereas renting a photocopier secures you free access to the best equipment every time you need it.
3. Access and Installation
Time and effort should be taken into consideration when making the choice between renting or leasing a photocopier. Consider if you are ready to sacrifice the time and energy you need to put into installing a photocopier every time you hire one.
Companies that offer photocopier rental deals usually refer to a mid-term agreement ranging anywhere between a few months to a few years.
One of the reasons to consider photocopier rental is that it provides more flexibility in the form of a month-to-month agreement, which can be terminated quickly (generally by giving a 30 days notice to the supplier).
Another reason is that the monthly hiring fee is based on a predetermined number of pages or a general copy volume. Renting a photocopier often involves an agreement on maintenance and repairs (parts, labour etc.). Additionally, your supplier may also cover the replenishment of consumables such as toner and ink (paper, however, is almost never included).
An advantage of renting is the option to upgrade your equipment. This way you are ensured a top-quality machine whenever a new one becomes available. Unlike owning the unit, you would have the freedom to upgrade without having to dispose off the old one and re-invest in a new machine.
There are some disadvantages associated with renting a photocopier too. First, when it comes to monthly fees, renting a photocopier machine is, in general, more expensive than leasing. Second, if your work requires intensive photocopying, it can be more reasonable to buy or lease a photocopier. Otherwise, in the long run, you can end up paying more in rent than the actual cost of the photocopier.
Types of Photocopier Rental
Photocopier Rental will vary according to not only the type of the photocopier but also the usage volume.
Most suppliers will let you choose from a range of MFPs (multifunction printers), fax machines, and copiers in desktop or high-volume format, complete with delivery, removal, full user training, supplies, and support.
When to Rent a Photocopier
Renting a photocopier is suitable for companies that need a machine for more than a couple of weeks, but less than a couple of years. Typically, photocopier rentals are associated with projects with high volume print periods such as tax season, auditing etc.
For new businesses, renting may be the only option. With limited capital, startups may need to invest elsewhere to survive and grow, therefore buying a photocopier would be terribly taxing on the budget. Renting one, however, would allow them to acquire a better and more sophisticated machine than what they can afford. That way the company can enjoy the benefits of owning a top-shelf model with all its advantages at a minimum risk and expense.
Pros and Cons of Renting
|Advantages of Renting a Photocopier|
|Flexibility in rental time||Flexibility in upgrading/downsizing|
|Lower risk/ 30 days notice period||Up-to-date technology|
|Disadvantages of Leasing a Photocopier|
|Higher payment terms than leasing||Higher total ownership cost|
If you are interested in finding more information on renting and leasing photocopiers, just fill in the form at the top of the page and we’ll make sure to provide you with up to four, free, non-binding quotes to help you make a well-informed decision
Photocopier lease period typically spans anywhere from three to five years. It usually involves paying a fixed monthly fee. However, since one does not own the photocopier machine, the leasing fee paid to the supplier could be as much as 100% tax deductible.
One of the advantages of leasing is that it doesn’t tie up capital and is cheaper than renting in the long run. If one is confident about covering the monthly lease fee on time for the entire duration of the contract, then photocopier leasing is the way to go.
Before leasing a photocopier, one must be familiar with the different options and conditions of the leasing agreements. Normally, those options are provided by the photocopier supplier or a third-party company, which eases the process of leasing.
Another thing to be aware of is that the payment of the service contract goes together with the lease agreement. The service contract covers services such as regular maintenance, repairs, and toner replacements. Ensure the service contract covers not only the mentioned services but also includes parts and labour as well.
Unlike the monthly fixed lease, the service contract payments can either be fixed or be based on monthly usage. Some contracts even include elements of both. Therefore, getting to know the different options, suppliers, and agreements is a necessity, and careful consideration is highly recommended
When the agreement period comes to an end, you will have several choices:
- Purchase the machine
- Return it to the supplier
- Sign a new lease (for the same copier or upgrade to a new machine)
This of course does not mean that upgrading of the machine cannot happen during the leasing period. However, you will be charged an additional fee for doing so.
Types of Photocopier Lease
Lease agreement differentiate broadly, but basically, we can put them in two big groups:
Practically, this type includes a fixed period of time (usually more than a year), that is mentioned in the lease agreement, where you pay a specific fee. Those agreements however do not give you the freedom to back out earlier than the established time frame, and if you do you will have to pay the remaining instalments up front.
An essential side of this type of lease contract is the ownership of the machine, which remains with the leasing company at the end of the contract. Be aware when signing your leasing contract in order to avoid any misunderstandings and regrets.
An advantage here is the fact that your business does not pay a big amount of money at once, and lease rental agreements usually cover maintenance services. Moreover, signing this agreement entitles you to free upgrading opportunities.
Lease purchase contracts have the same pattern as the lease rental, the only difference is that when the established agreement period expires, you are entitled to the ownership of the machine.
Because of all the conditions and specifics that each lease agreement contains, you need to thoughtfully check it before signing. Make sure to get to know, in detail, the terms of the contract during the leasing period, but do not forget to also carefully study what happens at the end of the agreement and after. In some cases, the lease period will run beyond the minimum period you have agreed upon unless you clearly do not end the contract.
When to Lease a Photocopier
Leasing is a more suitable option for businesses which have have mid to high volume usage of photocopiers. Further, new businesses should refrain from leasing unless they have predictable and stable cash flows.
If your business ticks both these boxes then it may be a good idea to lease a photocopier and let the suppliers take care of the repairs, maintenance and the essential supplies. Businesses that can stick to the lease period will be the ones that will make the most of their contracts.
Pros and Cons of Leasing
|Advantages of Leasing a Photocopier|
|Lower fees and total ownership cost||Possibility of ownership of equipment at end of contract|
|Tax deductions||Flexibility in managing cash flow|
|Disadvantages of Leasing a Photocopier|
|Longer contracts (3 - 5 yrs) than renting||Upon mid-way termination, full contract fee has to be paid|
|Fee when upgrading/downsizing||Inflexible contract terms/ higher risk|
Nowadays, it’s really easy to hire photocopiers. Further, irrespective of the price range one can expect to find certain functionalities such as copying, scanning and faxing to be present. Connectivity options, Duplex printing, and good output resolution are again standard to a good extent.
Yet, with price range some features do change. The following table gives an approximation of what features to expect at different price points.
|Photocopier Features||Small Scale Business||Medium Scale Business||Large Scale Business|
|Purchase Price||Up to £200||Up to £500||Up to £4000|
|RAM||Up to 1GB RAM||Up to 2GB RAM||Up to 4GB RAM|
|Monthly Duty Cycle||Up to 150,000 Pages||Up to 200,000 Pages||Up to 300,000 Pages|
|Paper Capacity||250 - 550 Sheets||550 Sheets||Multiple 550 Sheets|
|Print Speed||Up to 60 ppm||Up to 75 ppm||Up to 100 ppm|
|LCD Display||Up to 5” touchscreen||Up to 7” touchscreen||Up to 10” touchscreen|
The purchase price here refers to the outright expenditure and full ownership of the product –excluding the supplies, and maintenance costs. However, it is possible to find many of these features on the photocopiers that are widely available for hire. Keep in mind that this table represents data for A4 photocopiers. A3 printers and Industrial printers are a separate category.
Finally, if you are convinced that hiring a photocopier is the right decision for your business needs, you can fill a quick form to get free quotes from various suppliers in your region. Market Inspector can provide you with up to four free quotes. This service is free and there are no hidden charges. Click the button below to hire photocopiers today!