If you're thinking about growing your company's operations, you may be considering the purchase of a fiber laser. Fiber lasers are known to produce better quality products faster — but they're also a relatively new and expensive technology. How do you know when you're ready to commit?
The best way to determine whether you have an ideal course of action is to calculate ROI. In the case of a fiber laser, you would need to consider the additional work that the fiber laser might bring in — as well as the cost of purchasing it and the projected costs of your consumable expenses. Taken together, you'll be able to see the net benefit of the fiber laser.
But do keep in mind that this is all highly dependent on your numbers and your business. Before you even get started, you should know what volume of work you do, how many clients you have, and how many clients you could be projected to gain.
Income: The Benefits of Fiber Laser
There are two major benefits to purchasing a fiber laser: ramping up production and improving your quality control. Both these elements mean that you may be able to procure additional clients. But there are also considerations involved. You need to make sure that you haven't already saturated your market; that you can achieve growth.
If your company is already growing aggressively, now may be the time for a fiber laser. It may be that you simply cannot take more clients on unless you have a faster and more reliable machine. It may be that you've saturated your existing market, and now you need to go after clientele that wants a higher quality product. Regardless, you should estimate how many additional clients you would be able to achieve, based on your former growth.
Expenses: Upfront Cost of Fiber Laser
There is the upfront cost of purchasing a fiber laser. Of course, this upfront cost can usually be financed and split into payments — but it's still something important to consider. Do you have the liquidity for the down payments? Will it adversely affect your cash flow? These are questions you should ask your accountant or your accounting department. Even if you know that ultimately a fiber laser will improve your income, you also need to be able to track your cash flow.
Expenses: Cost of Operations of a Fiber Laser
In addition to the upfront cost, there's the cost of operations with a fiber laser. There are consumables that come with laser technology — and gasses can be expensive. Operator expense will be similar; fiber lasers are similar to use to plasma. At the same time, you may find your electricity bill going down, because fiber lasers are more efficient compared to plasma.
Every company is unique. When it comes to manufacturing, there are many moving parts. You may want to run multiple scenarios, including outsourcing your work to a fiber laser company, and purchasing a fiber laser outright. Regardless, properly projecting your ROI is the best way to determine whether a fiber laser is right for you.
Watch Matthew and his crew tune in a 6kw Fiber Laser with Exchange table, and deliver it to it's new home at the end of the video: