We usually associate the New Year as an exciting time for individuals, but it can also be exhilarating for business owners. The new year may be an excellent time for a modern farm to upgrade agriculture equipment or invest in quality ag supplies. But it can also be challenging to know which equipment upgrades are right for you.
Deciding What Agriculture Equipment to Buy
The best thing you can do before jumping to a decision is sit down and think about the logistics. It can be easy to commit to purchasing the first thing that stands out in your mind, but the best practice may be to buy the last thing you think of. We’re not constantly evaluating equipment performance, comparing prices, and determining need. But these activities are what you need to do before undergoing ag equipment purchasing.
You may consider purchasing one haul of agriculture supplies one day and decide against it the next. Our best practice here is to list what it takes to run your business and what currently needs the most attention. Take as much time as you need; this decision could impact the rest of the subsequent year. But even if you’re drawing a blank, we have some considerations for you to get started.
Equipment Purchase Considerations
If you’re having trouble deciding about which ag equipment is best for you, here are a few of the considerations we would make before purchasing:
Write-offs for next year can have a significant impact on your decision. Consider the tax implications for new equipment. Can you write it off? Some states have special tax exemptions for agricultural equipment but must meet specific requirements to be exempt.
Cost Over Time
For larger, expensive pieces of equipment, you may have to decide between owning and renting. These considerations may require the help of your company’s financial expert or even outside help. Additionally, you’ll need to know which pieces of equipment will make you more money, save on costs, or even pay themselves off in the long run.
Upgrading Outdated Equipment
Every business has an old, run-down piece of equipment begging for replacement. What’s that piece of equipment for your business? Consider replacing these pieces of farm equipment to reduce future downtime, improve employee safety, and upgrade your efficiency.
Reliability and Investment
You’ll need to research the product thoroughly. Is it reliable, safe, and easy to use? Also, you should know if it’s worth the cost of investment. A good piece of agriculture equipment will pay itself off in time.
Seeking Expert Help
Now that you have an idea where to start, it’s time to get to work. Sit down and consider the options before purchasing. And there’s always a group of people at Carlson Wholesale to help.
Not sure about upgrading equipment on your farm? Carlson Wholesale is not a major corporation–we’re a family-owned and operated agricultural equipment supplier. Contact us to help make the best decision for your farm.