Impressions - April 2021 - 33
HERE'S WHAT YOU NEED TO
REMEMBER WHEN THINKING ABOUT
FINANCING OR LEASING EQUIPMENT
TO GROW YOUR DECORATEDAPPAREL BUSINESS.
I
n navigating difficult times, it may be helpful to explore new
ways to sustain or grow your business with financial support.
Investing in equipment, for example, can help you stay competitive in the quickly evolving decorated-apparel industry. In
fact, equipment upgrades were one of the top investment areas
for small-business owners planning to invest during the next 12
months, according to CIT's latest Tech and Talent survey of small
and mid-sized businesses.
While financing or leasing equipment offers many benefits, getting started can feel a bit intimidating. Owning a decorated-apparel
business doesn't necessarily make you a finance expert - and that's
OK. With the right finance partner, you still can find the best solutions for your unique business needs.
FINANCING VS. LEASING
Your first question may be whether to go the leasing or financing
route. It's important to know the pros and cons of each to determine what works best for your business.
Before making that decision, think about the equipment you'll
BY GREG BOURDON,
CONTRIBUTING WRITER
need, how it'll be used and its useful lifespan. Will you only need it
for a year or will it pay for itself over time? Doing a quick cost/benefit
analysis by estimating how much revenue the new equipment will
generate can help you figure out whether funding will be worthwhile.
If you determine funding is appropriate, the next step is to consider financing vs. leasing. In comparing both, ownership is a major
factor. With financing, you technically own the equipment from
the start. You also have the option to buy out your finance contract
early at a discount.
Think about other aspects like cash flow, preserves and tax benefits. What matters most to you? Is it more important to have lower
monthly payments or avoid a buyout at the end of the term? Would
you rather have more cash on hand or more flexibility at the end
of the term (e.g. to upgrade or purchase)? Would it benefit you to
write off the entire equipment cost in the purchase year or have
tax-deductible payments?
Perhaps most importantly, determine whether you expect to keep
or replace the equipment once the lending period ends. If you expect to keep it, the best option may be financing. If you expect to
replace it, a lease with fair market value may be the best option.
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Impressions - April 2021
Table of Contents for the Digital Edition of Impressions - April 2021
Cover Tip - Gildan
Front Cover - April 2021
Table of Contents
Masthead
First Impressions
Show Director
Overheard
First Look
Expo Scene
Athletic Wear Trends/New Products
Biz Expansion with Headwear New Products
Niche Focus: Team Sports
Hanesbrands Insert
Idea Generator: Part 1
Using Mood Boards to Help Customers to Stay on Trend
Leasing/Financing Equipment
Shop Talk
TMD Embroidery Production - Stitching Headwear Designs
TMD Screen Printing Production - Athletic Numbering On Team Uniforms
TMD DTG - Digital Printing Basics
Classifieds / Ad Index
On Design
Impressions - April 2021 - Cover Tip - Gildan
Impressions - April 2021 - CT2
Impressions - April 2021 - Front Cover - April 2021
Impressions - April 2021 - C2
Impressions - April 2021 - 1
Impressions - April 2021 - Table of Contents
Impressions - April 2021 - 3
Impressions - April 2021 - Masthead
Impressions - April 2021 - 5
Impressions - April 2021 - First Impressions
Impressions - April 2021 - 7
Impressions - April 2021 - Show Director
Impressions - April 2021 - 9
Impressions - April 2021 - Overheard
Impressions - April 2021 - 11
Impressions - April 2021 - 12
Impressions - April 2021 - 13
Impressions - April 2021 - 13A
Impressions - April 2021 - 13B
Impressions - April 2021 - First Look
Impressions - April 2021 - Expo Scene
Impressions - April 2021 - Athletic Wear Trends/New Products
Impressions - April 2021 - 17
Impressions - April 2021 - 18
Impressions - April 2021 - 19
Impressions - April 2021 - Biz Expansion with Headwear New Products
Impressions - April 2021 - 21
Impressions - April 2021 - 22
Impressions - April 2021 - Hanesbrands Insert
Impressions - April 2021 - H2
Impressions - April 2021 - H3
Impressions - April 2021 - H4
Impressions - April 2021 - H5
Impressions - April 2021 - H6
Impressions - April 2021 - H7
Impressions - April 2021 - H8
Impressions - April 2021 - H9
Impressions - April 2021 - H10
Impressions - April 2021 - H11
Impressions - April 2021 - H12
Impressions - April 2021 - H13
Impressions - April 2021 - H14
Impressions - April 2021 - H15
Impressions - April 2021 - H16
Impressions - April 2021 - 23
Impressions - April 2021 - Niche Focus: Team Sports
Impressions - April 2021 - 25
Impressions - April 2021 - Idea Generator: Part 1
Impressions - April 2021 - 27
Impressions - April 2021 - 28
Impressions - April 2021 - 29
Impressions - April 2021 - Using Mood Boards to Help Customers to Stay on Trend
Impressions - April 2021 - 31
Impressions - April 2021 - 32
Impressions - April 2021 - Leasing/Financing Equipment
Impressions - April 2021 - 34
Impressions - April 2021 - 35
Impressions - April 2021 - Shop Talk
Impressions - April 2021 - 37
Impressions - April 2021 - TMD Embroidery Production - Stitching Headwear Designs
Impressions - April 2021 - 39
Impressions - April 2021 - 40
Impressions - April 2021 - TMD Screen Printing Production - Athletic Numbering On Team Uniforms
Impressions - April 2021 - 42
Impressions - April 2021 - 43
Impressions - April 2021 - TMD DTG - Digital Printing Basics
Impressions - April 2021 - 45
Impressions - April 2021 - 46
Impressions - April 2021 - Classifieds / Ad Index
Impressions - April 2021 - On Design
Impressions - April 2021 - C3
Impressions - April 2021 - C4
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https://www.nxtbook.com/nxtbooks/impressions/20210102
https://www.nxtbook.com/nxtbooks/impressions/202012
https://www.nxtbook.com/nxtbooks/impressions/dd_fall2020
https://www.nxtbook.com/nxtbooks/nxtbook_bhtest/impwessons
https://www.nxtbook.com/nxtbooks/impressions/20201011
https://www.nxtbook.com/nxtbooks/impressions/202009
https://www.nxtbook.com/nxtbooks/impressions/teamactive_2020fall
https://www.nxtbook.com/nxtbooks/impressions/202008
https://www.nxtbook.com/nxtbooks/impressions/20200607
https://www.nxtbook.com/nxtbooks/impressions/202005
https://www.nxtbook.com/nxtbooks/impressions/dd_2020
https://www.nxtbook.com/nxtbooks/impressions/202004
https://www.nxtbook.com/nxtbooks/impressions/202003
https://www.nxtbook.com/nxtbooks/impressions/202002
https://www.nxtbook.com/nxtbooks/impressions/202001
https://www.nxtbook.com/nxtbooks/impressions/201912
https://www.nxtbook.com/nxtbooks/impressions/dd_2019
https://www.nxtbook.com/nxtbooks/impressions/201910
https://www.nxtbook.com/nxtbooks/impressions/201909
https://www.nxtbook.com/nxtbooks/impressions/teamactive_2019fall
https://www.nxtbook.com/nxtbooks/impressions/201908
https://www.nxtbook.com/nxtbooks/impressions/20190607
https://www.nxtbook.com/nxtbooks/impressions/201905
https://www.nxtbook.com/nxtbooks/impressions/201904
https://www.nxtbook.com/nxtbooks/impressions/201903
https://www.nxtbook.com/nxtbooks/impressions/teamactive_2019spring
https://www.nxtbook.com/nxtbooks/impressions/201902
https://www.nxtbook.com/nxtbooks/impressions/201901
https://www.nxtbook.com/nxtbooks/impressions/201812
https://www.nxtbook.com/nxtbooks/impressions/dd_2018
https://www.nxtbook.com/nxtbooks/impressions/201810
https://www.nxtbook.com/nxtbooks/impressions/201809
https://www.nxtbook.com/nxtbooks/impressions/teamspirit_2018fall
https://www.nxtbook.com/nxtbooks/impressions/201808
https://www.nxtbook.com/nxtbooks/impressions/201806
https://www.nxtbook.com/nxtbooks/impressions/201805
https://www.nxtbook.com/nxtbooks/impressions/201804
https://www.nxtbook.com/nxtbooks/impressions/201803
https://www.nxtbook.com/nxtbooks/impressions/teamspirit_2018spring
https://www.nxtbook.com/nxtbooks/impressions/201802
https://www.nxtbook.com/nxtbooks/impressions/201801
https://www.nxtbook.com/nxtbooks/impressions/201712
https://www.nxtbook.com/nxtbooks/impressions/201710
https://www.nxtbook.com/nxtbooks/impressions/201709
https://www.nxtbook.com/nxtbooks/impressions/201708
https://www.nxtbook.com/nxtbooks/impressions/teamspirit_2017fall
https://www.nxtbook.com/nxtbooks/impressions/20170607
https://www.nxtbook.com/nxtbooks/impressions/201705
https://www.nxtbook.com/nxtbooks/impressions/201704
https://www.nxtbook.com/nxtbooks/impressions/201703
https://www.nxtbook.com/nxtbooks/impressions/teamspirit_2017spring
https://www.nxtbook.com/nxtbooks/impressions/201702
https://www.nxtbook.com/nxtbooks/impressions/201701
https://www.nxtbook.com/nxtbooks/impressions/sportsfanretailer
https://www.nxtbook.com/nxtbooks/impressions/201612
https://www.nxtbook.com/nxtbooks/impressions/201610
https://www.nxtbook.com/nxtbooks/impressions/201609
https://www.nxtbook.com/nxtbooks/impressions/201608
https://www.nxtbook.com/nxtbooks/impressions/teamspirit_2016fall
https://www.nxtbook.com/nxtbooks/impressions/20160607
https://www.nxtbook.com/nxtbooks/impressions/201605
https://www.nxtbook.com/nxtbooks/impressions/201604
https://www.nxtbook.com/nxtbooks/impressions/201603
https://www.nxtbook.com/nxtbooks/impressions/teamspirit_2016spring
https://www.nxtbook.com/nxtbooks/impressions/201602
https://www.nxtbook.com/nxtbooks/impressions/201601
https://www.nxtbook.com/nxtbooks/impressions/sportsfanretailer_201512
https://www.nxtbook.com/nxtbooks/impressions/201512
https://www.nxtbook.com/nxtbooks/impressions/digitaldecorator_2015fall
https://www.nxtbook.com/nxtbooks/impressions/201510
https://www.nxtbook.com/nxtbooks/impressions/201509
https://www.nxtbook.com/nxtbooks/impressions/201508
https://www.nxtbook.com/nxtbooks/impressions/teamspirit_2015fall
https://www.nxtbook.com/nxtbooks/impressions/20150607
https://www.nxtbook.com/nxtbooks/impressions/digitaldecorator_2015summer
https://www.nxtbook.com/nxtbooks/impressions/sportsfanretailer_201506
https://www.nxtbook.com/nxtbooks/impressions/201504
https://www.nxtbook.com/nxtbooks/impressions/201503
https://www.nxtbook.com/nxtbooks/impressions/teamspirit_2015spring
https://www.nxtbook.com/nxtbooks/impressions/201502
https://www.nxtbook.com/nxtbooks/impressions/201501
https://www.nxtbook.com/nxtbooks/impressions/sportsfanretailer_201412
https://www.nxtbook.com/nxtbooks/impressions/201412
https://www.nxtbook.com/nxtbooks/impressions/201410
https://www.nxtbook.com/nxtbooks/impressions/sportsfanretailer_2014fall
https://www.nxtbook.com/nxtbooks/impressions/201409
https://www.nxtbook.com/nxtbooks/impressions/201408
https://www.nxtbook.com/nxtbooks/impressions/teamspirit_2014fall
https://www.nxtbook.com/nxtbooks/impressions/digitaldecorator_2014summer
https://www.nxtbook.com/nxtbooks/impressions/20140607
https://www.nxtbook.com/nxtbooks/impressions/sportsfanretailer_2014spring
https://www.nxtbook.com/nxtbooks/impressions/201404
https://www.nxtbook.com/nxtbooks/impressions/201403
https://www.nxtbook.com/nxtbooks/impressions/teamspirit_2014spring
https://www.nxtbook.com/nxtbooks/impressions/201402
https://www.nxtbook.com/nxtbooks/nielsen/impressions_201401
https://www.nxtbook.com/nxtbooks/nielsen/impressions_sportsfanretailer_201312
https://www.nxtbook.com/nxtbooks/nielsen/impressions_201312
https://www.nxtbook.com/nxtbooks/nielsen/impressions_20131011
https://www.nxtbook.com/nxtbooks/nielsen/impressions_201309
https://www.nxtbook.com/nxtbooks/nielsen/impressions_201308
https://www.nxtbook.com/nxtbooks/nielsen/impressions_teamspirit_2013fall
https://www.nxtbook.com/nxtbooks/nielsen/impressions_20130607
https://www.nxtbook.com/nxtbooks/nielsen/impressions_201304
https://www.nxtbook.com/nxtbooks/nielsen/impressions_201303
https://www.nxtbook.com/nxtbooks/nielsen/impressions_teamspirit_2013spring
https://www.nxtbook.com/nxtbooks/nielsen/impressions_201302
https://www.nxtbook.com/nxtbooks/nielsen/impressions_201301
https://www.nxtbook.com/nxtbooks/nielsen/impressions_201212
https://www.nxtbook.com/nxtbooks/nielsen/impressions_20121011
https://www.nxtbook.com/nxtbooks/nielsen/impressions_teamspirit_2012fall
https://www.nxtbook.com/nxtbooks/nielsen/impressions_20120809
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https://www.nxtbook.com/nxtbooks/nielsen/impressions_teamspirit_2012spring
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