The significance of critical assets and appliances in the day-to-day operations cannot be overstated, including HVAC systems, commercial laundry equipment and catering appliances.
Here at JLA, we have outlined various strategies for funding critical assets, and assess the associated costs such as servicing, maintenance, energy consumption, and utilities to help you decide which option works best for your business.
Outright Purchases
One common method of acquiring critical assets is through outright purchases. While this approach provides immediate ownership and control over the asset, it comes with its own set of drawbacks, particularly the substantial upfront cost of purchasing the equipment.
Additionally, outright purchases typically require a significant capital outlay, which may not be feasible for all businesses, especially smaller ones.
Leasing and equipment subscriptions
An alternative to outright purchases is leasing or subscription packages, which offers several advantages for businesses looking to acquire critical assets without the financial burden of upfront costs.
One notable option is Total Care by JLA, an all-inclusive equipment and support package that eliminates the need for upfront payments on commercial laundry equipment, HVAC appliances and catering appliances. With Total Care, businesses gain access to essential assets along with free installation, 24/7 emergency support, remote equipment monitoring, and proactive maintenance, all for a simple monthly fee.
Costs Associated with Critical Assets
In addition to the acquisition costs, it is important to consider the costs for operating equipment in your organisation, including maintenance and energy.
Servicing and Maintenance
Ensuring the reliability and efficiency of critical assets requires regular servicing and maintenance. Neglecting this can lead to costly breakdowns and downtime and disrupting business operations. By investing in routine servicing and maintenance, businesses can prolong the lifespan of their assets to reduce disruption.
Service contracts provide consistent monthly payments and reassurance that any problems can be taken care of effectively.
Energy Costs
Energy consumption is a significant factor to consider when funding critical assets, particularly with the current high gas and electricity prices. upgrading to modern equipment like Smart washing machines can hep to minimise energy costs.
Exploring emerging technologies such as heat pump dryers or hybrid heating systems can offer cost savings and reduce the carbon footprint of your business.
Other utilities
Certain critical assets, such as commercial washing machines, may consume other utilities like water. Investing in energy-efficient equipment can help businesses mitigate these expenses while reducing their environmental footprint.
Overall, funding critical assets requires careful consideration of various factors, including upfront costs, ongoing expenses, and long-term sustainability. Overall operating costs should be taken into account along with maintenance efficiency, sustainability and energy usage.
