On the face of it a computer or Mac isn’t much money, but when you multiply the number of workstations you need and consider other equipment like servers, and then the furnishings like office chairs and desks people need to do their jobs, the costs to equip a web studio soon stack up.
The biggest costs are the electronics and the cost to equip a small web studio with four workstations is around £15,000.
If that sounds a lot, consider the cost of a mid-range 27” Mac — £1,949 at the time of writing. Most web studios have a mix of Mac and PC, and if you want to give a developer a good PC to do their job, you’re looking at over £1,000 including the two 4K monitors they’ll want to use (a web developer must have).
Then you have your telephone system, dedicated server which you host your client’s websites on, the IT infrastructure to run it, and printers and scanners.
And let’s not forget about the desks and chairs you need, or the office furnishings so people aren’t working in a boring box all day.
That £15,000 figure isn’t looking so expensive now, is it?
£15,000 is actually a conservative figure on our part – you’re looking at £2,000+ per workstation for Macs and £1,000+ for PCs. And these are only part of the studio itself, even if they account for the bulk of the cost.
Assuming you ultimately want to own all this equipment, the easiest way to finance the expensive stuff – your Macs, PCs, servers, etc. – is to purchase everything in one go on a hire purchase agreement with a specialist lender.
A specialist lender can purchase everything you need for your studio under one hire purchase contract. This has three benefits:
- It keeps your monthly repayments as low as possible
- It means one single payment per month, not several
- The monthly payments are fixed and can be offset against your tax bill
A hire purchase is a simple finance facility in which a lender purchases equipment on your behalf and you pay them back over a set term.
Once this term comes to an end and you have repaid what is owed, your contract with the lender ends and full ownership of the equipment passes to you.
It is simply a means to spread the cost of purchase to make payments palatable. You can take out a hire purchase over 12 to 60 months. A lower term means you will pay back less overall, but the monthly repayments will be higher. A longer term means you will pay back more but the monthly payments will be lower.
Only a few specialist lenders can purchase multiple assets under one hire purchase agreement and our sister company Blackrock is one of them. As a broker, we can introduce you to these products and help you secure the finance you need. Call us anytime on 01234 240155 to find out more and we’ll do our best to help you.