From the January 2015 issue of HealthCare Business News magazine
Over the years, I have bought and sold thousands of new and used cosmetic lasers, IPLs, RF, microderms, camera systems and other energy-based devices.
Not all transactions have gone well. This is a young, fast-growing industry, and it’s attracting more businesspeople every day.
Because it’s a young industry, it’s a little like the Wild West; there are a number of unfamiliar obstacles to overcome and challenges to face. Knowing about these in advance increases the likelihood of your success.
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Some of these obstacles make it hard for companies to survive and as a result, I have noticed an above average rate of business failures in this space. That turnover means a high volume of used equipment is always on the market.
What follows are 10 tips others have learned the hard way. I hope you find them helpful in avoiding the same lessons.
1. Businesspeople have to make educated decisions.
It’s important to consider which manufacturer and model will best compliment your business. Go online to check out reviews and ratings for the equipment you’re considering for purchase. Some effort here can potentially save you a substantial amount of money and time in the long run.
2.Explore used options responsibly.
I’ve never met a salesperson that claims to sell the second-best machine and all salespeople are paid to convince you that their machine is the best. I’ve seen tremendous turnover of sales personnel in this industry.
It’s my opinion that new machines are oftentimes similar to slightly older ones, and the so-called improvements are dubious. The technology hasn’t changed that much. There have been minor advances but sometimes, the juice is not worth the squeeze when it comes to buying the more expensive new unit.
Depending upon the situation, some machines are better than others, but the purchaser needs to spend time to learn about the product and compare it to other products in the same market space.
This head-to-head comparison inevitably leads to considering used equipment. However, buying used equipment has its own challenges.
3. Take your time, do your research, ask questions, and make sure that the machine you’re buying is what you need.
Don’t pay for things you won’t use and don’t buy something that doesn’t meet your needs.
Compare new to used to determine if the used unit will meet your needs.
4. When it comes to used, remember that not all vendors are created equal.
Do your homework. Make sure that you buy from a vendor that can provide you with after-sale service. Check out their ratings on the Internet. Thanks to the Internet, you don’t have to rely on just the references provided by the vendor.