EQUIPMENT BUYING
A PLAN FOR SUCCESS
Strategies for ensuring your edging equipment purchase pays off
BY SUSAN TARRANT
Just as you wouldn’t build an office without a blueprint, you need a plan before purchasing the equipment that will comprise your in-office edging lab. A poorly planned or hasty purchase can lead to unsatisfactory results and an unmet return on investment.
We spoke with edging equipment experts, who offered the following plan for making sure the equipment you buy (or upgrade to) will keep your practice humming, your patients happy, and your profits growing.
PRO TIP
Always check the references of any company with which you plan to work. How?
- Ask colleagues
- Get a list of previous buyers from the manufacturer
- Ask for customer satisfaction surveys
- Check industry “chat” boards for chatter about the company
FIRST…
CHOOSE EQUIPMENT. Picking the right machine for your needs is an essential first step in the process. Evaluate the types of lenses and frames your practice dispenses, and determine the types of edgers that will not only process those jobs, but others you want to add.
For example, consider how many rimless mounts or high-wrap frames your practice routinely dispenses—or if you’d like to start offering those collections—to determine whether a finishing system with easy drilling or wrap capabilities will be a good fit for you. Being able to offer those styles quickly, as well as other services like custom lens shapes or embelishments, can grow a business.
Many of today’s finishing systems offer “full bells-and-whistles” features as well as more basic versions that offer the more basic needs at an affordable price point. ECPs who are tentative about adding such technical features may opt for systems that offer easy upgrades or add-ons for the future.
TRAINING. Plan on setting aside time to for training sessions with the equipment reps post-purchase. Time spent on training creates an increased awareness in the production process and will aid in troubleshooting any minor issues that arise.
“With an increased focus on efficiency, having a system built for ease of use is also essential,” notes Brandie Shaw, eastern regional manager for Briot USA. Luckily, modern finishing systems typically feature automated functions and touchscreen prompts.
COMPARE. Trying to decide between two edgers, each offering about the same features? Take them for a test drive.
“Compare edgers in your practice for a first-hand experience,” advises Barbara Wagner, marketing manager of Santinelli International. “This will give you tremendous insight into how the company does business, the differences between the technology, ease of use, the expertise of the sales representative. There is nothing like a side-by-side comparison.”
Once you’ve determined the type of equipment that best serves your needs, you’ve got to determine which brand to purchase. Things to consider here include the quality, performance, and reliability, and long-term investment value.
“Not all lens edgers are created equal,” says Wagner. “It’s vital to ask colleagues about their experience with the edgers, along with other industry references such as your lab and lens representatives.”
THE TAX EQUATION
Making a capital purchase comes with a great benefit: a one-time tax write-off. Lisa Hartley, vice president of Univest Capital, Inc., provides the following information.
WHAT: Section 179 of the U.S. tax code allows for a one-time tax deduction from your gross income the year in which you purchased or leased the equipment. The lease must include a $1 purchase option and Equipment Finance Agreement (EFA).
HOW MUCH: For 2014, there is a maximum deduction of $25,000.
FINE PRINT: The equipment must be purchased and use implemented by Dec. 31, 2014.
THEN…
Your plan isn’t over once the edger model is determined.
THE PARTNERSHIP. Executed properly, the purchase should be the beginning of a relationship between the manufacturer or distributor and you.
“When you’re partnering with a company with a product that will be making you money for years, it’s important to have confidence in the people, from owner/management to the customer support staff,” notes Wagner. “Furthermore, the company should have the necessary long-term experience, passion, and concern for the success of your practice.”
THE WARRANTIES. Though a quality finishing system should be expected to perform well with limited issues, stuff happens. A good support and service plan during and beyond warranty coverage allows you to focus on business rather than on possible worries.
When purchasing, ask about what is and is not covered under the extended warranties, and what the cost of service is if you choose not to purchase an extended warranty.
IN-OFFICE FINISHING PATTERNS
According to a just-released survey of ECPs by Eyecare Business, 41% of respondents say they currently use in-house finishing equipment (22% of them have drill-mount capability). Here’s what else they said:
MOST IMPORTANT FEATURES IN AN EDGER
OF THOSE WHO EDGE, THE PERCENTAGE OF LENS JOBS THEY KEEP IN-HOUSE
DON’T FORGET TO…
CONSIDER SERVICE. Asking about the after-sale experience is just as important as the pre-sale research.
“You’ll want to be sure it will be easy to get fast answers to your questions by phone, website—via live chat, FAQs, or how-to videos—email, and on-site appointments,” notes Wagner.
The service staff of the company should be extensive and knowledgeable enough to make this experience a good one.
CONSIDER GROWTH. Practice growth is always a goal, and increased business is not unusual after creating an in-office lab due to increased efficiency, customer service, and quicker turnaround. The equipment you buy today should meet your future needs as well. When planned properly, the growth in business will offset the cost of the capital outlay.
“Practices considering equipment purchases should ask themselves what a few extra prescription sunglasses, half-eyes, or back-up pairs for contact lens wearers would do for their monthly sales,” notes Shaw. “It will often cover the cost of the edger and then some!”