Equipment

Virtually every business requires special equipment, whether it’s a pizza oven, a panel truck or a set of mechanics’ tools. And that’s in addition to the basics, such as telephone service, a copier, a fax machine and a computer with an Internet connection. One thing to keep in mind is striking a balance between having enough equipment to operate efficiently and spending more than you have to.

Once you’ve identified the equipment you need — or must upgrade or replace — you might consider a leasing arrangement where you pay for the item over time, often with an option to buy it when the lease expires. That way, you can use the money you’re not spending on an outright purchase to pay for other operating expenses or to make other improvements to your business.

Inexpensive equipment

And don’t forget to search for and price your equipment purchases online, where you might be able to buy what you need more cheaply. You might consider starting out with second-hand or used tools or furniture, which can often serve your business well but which may cost many times less than equipment that you purchase new.

If you need autos, trucks or other machinery to run your business, you may also consider leasing rather than buying, or buying used vehicles. It’s an added expense, but you’ll need to be sure you have adequate liability insurance. The state where you operate may require special driver's licenses for certain vehicles, and there may be zoning rules that restrict where you can park or store commercial vehicles.