More and more, equipment rentals are helping companies overcome the painful task of finding investment capital to fund development and verification projects. The current phase of the economic cycle, recovery from a slowdown, is always difficult and frustrating,
Mark Ingham of Sensor Technology identifies, “Companies are seeing their markets improve, but don’t have the reserves to finance all the activities that will kickstart their sales. What money there is must be used carefully, which usually means funding some projects but not others. As a result, opportunities have to be missed.”
Typically, projects may include verification or reverification of a product range to an international standard, development of a new sized unit within a product range to address an emerging market requirement, modification of a design or a whole new development.
Having survived more than one downturn and recovery, Sensor Technology already has a rental option in place for its TorqSense range of torque sensors. Potential users can choose to rent the equipment, rather than purchase it, thus circumventing the bottleneck of raising capital purchase approval. And to help companies along, if they decide that they want to hold onto their TorqSense for longer than they had anticipated, Sensor Technology are happy to convert the rental to a sale, with a percentage of the hire fee already paid offset against the purchase price.
Ready to rent and pay as you sense? Then take a trot over to Sensor Technology Ltd. and/or give them a call in the UK at +44 (0)1869 238400.