Myths When Buying Aesthetic Equipment; Used or New

When considering a purchase of a piece of equipment, there are two basic options. You can either purchase a new machine from the manufacture/distributor or you can experience significant cost savings buying pre-owned. Each have their advantages but it is worth taking a look at some of the myths surrounding each option. Below we will highlight 4 myths surrounding aesthetic capital equipment purchases:

Let’s begin.

1)    Purchasing Pre-owned is Riskier than Buying New:

If you have been in the industry long enough, surely you have heard less than ideal stories surrounding the purchase of used equipment. Make no mistake about it, the addition of a new piece of equipment to your current lineup is always going to be a risk whether you buy new or used, that’s the part of it being an investment. The risk you assume when purchasing new equipment is that you will be spending more capital for the same technology you can get elsewhere. This effects multiple facets of your business. It takes away from your budget to market all your services, delays improvement to décor or the physical layout of your space, or creates a heftier financial burden in monthly payments. It creates a situation where the sole focus of your business revolves around 1 or 2 pieces of equipment when you have so much more to offer. You also need to consider the depreciation that occurs when buying a new asset. The way this industry has evolved, the moment you take receipt of your new purchase, you can expect it to depreciate 30-50% off your original purchase price and that is without even using it once! Conversely, when you purchase pre-owned, that initial hit in depreciation has already occurred so in terms of resell value you are already at a significantly higher return rate.

Purchasing pre-owned is meant to be a way for you to supplement your already existing business and improve upon your offerings. It allows you to test your local market without tethering your livelihood to the success of a single purchase. It is a great way to establish a new business with already existing and proven technology. So from this perspective, you actually assume much less risk when purchasing pre-owned versus new.

2)    Manufacture have a plan for successful device implementation:

While sales reps will show up to your doorstep with a breakdown on how much money you can make on a device and how much better theirs is compared to the competition, know that they do not have the success of your business truly at heart. Their job is to sell you a specific set of equipment from a portfolio without taking into account whether your business can support it or not. They will tell you that it only takes a certain number clients to turn a profit on a machine and it is presented in a way that makes it look easy. The manufacture does not know the ins and outs or the vitality of your business as well as you do. They don’t take into account the extended cost and overhead to operate. Are you paying someone to run the machine? How much time and extra effort will you and your staff have to spend to sell treatment? There is a lot more that goes into implementing a new purchase than just installing the equipment and putting it up on your website. At the end of the day, you are best served to know that as the operator of your business, your own plan of how and when to add equipment and taking the steps necessary to do so in a healthy way is what will create success. You know your business and clientele the best, so be confident in your choices as to how you can improve.

3)    Support from the Manufacture is Better:

There is a common misconception that the support you receive for a specific device will always be better from the manufacture. While in the past that may have been true, it is not the case any longer. Our time spent being a leader in this industry has allowed us to build a network of trusted partners. Our network allows us to provide support that is on par, and in many cases, better than what the manufacture provides. When considering support, there are three main areas of concern. These include warranty/service, consumable supply, and training.

a) Warranty/Service:

Gone are the days where the manufacture holds all the keys in terms of service. Our years of experience with all devices have given us the ability to support the majority of what is sold in the second hand market. Service begins with knowledge; and we work with many of the most knowledgeable service technicians available on a multitude of respective technologies. A good majority of a manufacturer or distributor’s revenue is through the annual service warranty they sell to you in the case something may, or may not happen on the machine. What they typically forgo telling you is that in some circumstances, you can save yourself money in the long run by dealing with service issues as isolated instead of pre-investing in a 1, 2, 3+ year warranty; depending upon the device, we will point you in the right direction on whether to protect yourself with an extended warranty or save your money.

b) Consumable Supply:

One of the major arguments a manufacture’s rep has against purchasing that same device pre-owned is that you don’t get support in consumable sells.  There are too many resources available now days for this to be a true statement. We are always up front and clear about what we can provide with the purchase of a piece of equipment. If the device utilizes a consumable model, we can offer support for the continued use of that system by selling OEM parts. In many cases we can order directly from the manufacture ourselves so supply chain is not an issue. Many people also take advantage of surplus inventory in order to purchase those same consumables at a discounted rate.

c) Training:

Many of the best trainers in the aesthetic space do not just work exclusively with one company; they work through multiple different companies on several different machine specialties. The reality is when buying a pre-owned device with training support, you have access to a high-competitive level of training as the manufacturer or distributor would yield you; depending upon your vendor of choice, of course. We offer training for any device we sell when needed. The relationships we have built in the industry allow us to partner with physicians and various other industry professionals in order to provide top notch training sessions from some of the best in the business. There is flexibility in how it can be set up as well, we can send one of our clinical trainers on staff out to your facility. Or we can set a day and time for you to come to us, it is all based on what is convenient for you.

4)    Every Pre-owned Dealer is the Same:

While we are big proponents and supporters of the pre-owned industry, it is also worth noting that not every Pre-owned dealer operates with same expertise and professionalism that we do. Of course we want to capture as much business as we can in order to provide the best experience for our customers. But we also realize there are others out there that advertise similar services. Our only advise is that you do your due diligence before completing a purchase with another outfit. Do your due-diligence when shopping your vendors; call them, look at their social media, etc. Unfortunately there are those out there that do not hold themselves to the same ethics that we do. It is important to shop for more than just the price. Finding a good partner in this industry goes much farther than what you can purchase a single machine for. We understand that this is a relationship based business at its very core and strive to do the utmost we can to uphold and build on that relationship.

Caleb Henderson

Caleb Henderson

As Executive Vice President, Caleb specializes in aesthetic technology with targeted specialty in sciences and technical requirements.

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