Summer is right around the corner. Baseball, hot dogs, fireflies, the beach, 4th of July, etc.
Summer is traditionally a slower time for many companies. Kids are out of school, there’s a lot of “after work” activity, plenty of families take vacations in the summer, and more. So staffs are shortened, and while plenty of business still gets done, it’s quite normal for the summer months to be slower in many industries.
To me, this makes it a perfect time to upgrade with new (or new to you) equipment. This takes on even more meaning here in 2019. Here’s why:
Interest Rates Won’t be Lower for a Long Time
There is a general sense that interest rates have been too low over the past few years, and they’ve been slowly creeping up. But they are still very advantageous to borrowers, meaning the time to strike is right now, before the next rate hike (and there will be multiple hikes). So if you finance the equipment now with a fixed rate, you’re ahead of the game for years.
The Economy is Strong
The recent economic numbers surprised everyone at their strength – our economy keeps rolling along. Combined with the interest rates mentioned, right now is an ideal time to upgrade and expand. Investing in yourself when times are good is almost always the best investment you can make.
Your Competition is Probably NOT Upgrading
Let your competitors say “we’ll wait until fall / winter / 2020 / etc.” Use these summer months to retool and refit, and hit the ground running come fall. You’ll be miles ahead of everyone.
The great part about all of this is with the right fixed rate equipment financing, upgrading is really easy. You can get everything you need now (and then some, because Crest Capital will finance more than the equipment’s purchase price), and have it all in place for when business starts churning again.
Part of success is doing things when others aren’t. So take a look at upgrading your business this summer.