Simple Way To Reduce Your Risk

The future is a subject that fascinates us.  Arthur Clarke, author of 2001: A Space Odyssey, puts it well, “No age has shown more interest in the future than our age.” Wouldn’t it be great to be able to predict it? To just look into the future and be able to tell if the project that we are so eagerly anticipating will be a success. It’s impossible! There’s no way to tell what the future holds for any new project, and sadly, that’s just the way things are.

The risk is huge; as anybody in the packaging industry knows. So in reality, the best question to ask yourself in the beginning of any project is what are some ways I can reduce risk as much as possible? There are a lot of ways out there, but one in particular is to not buy new machines before you know more about your project.

We’ve all been there. In the early, exciting stages of any project, all you want to do is start. Naturally, buying your equipment seems like a logical early step. This isn’t always the case. There is a huge risk to buying a machine early on in a project. What if the project doesn’t produce as much as you thought it would? What if you don’t end up needing the machine after all? Is it just going to sit idly and collect dust? These are the questions that you need to be asking.

They can all be answered, quite simply, in one word: renting. Two to three months into your project, you are going to know a lot more about the project than you did before. You’ll know if the demand really equals the forecast, you’ll know more about the future success of the project, and most importantly, you’ll know for certain what machines you’ll need to get the job done.

With Frain Industries, you have four to six months to decide whether you want to keep the equipment, lease the equipment, buy different equipment, convert the equipment to purchase, or return it with no penalty.

Reduce your risk today. Find out more information by talking to the experts at Frain, and see how renting your equipment will help your project get started off on the right foot.

Aside from renting, what are some other ways you can think of reducing the risk on new projects?