To buy or to rent?
What factors do you consider when deciding wether to buy or to rent big ticket items like your console, outboard gear, or even PA?
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What factors do you consider when deciding wether to buy or to rent big ticket items like your console, outboard gear, or even PA?
Verified Pro - FOH
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Verified Pro - MON
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As someone who owns my entire FOH rig, console included, you need to be able to buy the gear at cost or its really not worth it, The big vendors rent this stuff for 52 week ROI on big items like consoles and 36 week ROI in small stuff. Lets say a console cost them 80k and cost you 160k, they rent the desk for $1500 per week which means thats all you can rent it for, takes you 2 years to get your money back, Also can you support it like they can? What happens if someone chucks a beer into it one night at a gig and you need another one for the next show tmrw? how much is insurance? Trust as a small timer no one wants to insure my gear being moved all over the world. The way i make this work, I sub rent my package to the vendor for half of what they charge for it, this is the only way to make it safe sane way. they insure it and support it like its theirs. Then it takes you 4 years to get your money back, consoles only have a 10 year shelf life, so if you buy it 3 years into that 10 year life span, and it takes 4 years to get your money back you only have 3 years of profit. Terrible business plan, if you have to borrow the money to buy it then there goes more profit to the bank in interest. Not saying dont do it, but these are the key things to think about in your plan.