Learn how you can finance a 3D printer for your business and is it worth the investment?
Every time I turn my head it seems as though they are finding out other ways to make use of this 3D printing technology. From the early days of printing a fully functional gun, to making your own custom candy. The sky’s the limit when it comes to this technology, and it doesn’t seem to be slowing down! If your business could excel by incorporating a 3D printer into its current model, you better find out a way to get your hands on one. Because this is still a fairly new technology, it’ll be a little difficult to find a lender who’ll offer financing.
Paul McCarthy, the father of a 12 year old boy was able to borrow a 3D printer and make his son a prosthetic hand! Paul said this prosthesis would normally have cost approximately $30,000! But using his friend’s 3D printer this homemade prosthetic hand cost him less than $10! The skies the limit in this arena, imagine being able to make a hand that looks like the Incredible Hulk or maybe even Iron Man! I can see this being in every home in the near future, just like a blender.
Is A 3D Printer Worth the Investment?
If you have not been paying particular attention to the latest game-changing innovations set to revolutionize how modern businesses operate, then listen up.
In the recent months, one of the cutting edge and exceptionally innovative products unveiled, which was particularly touted as the biggest breakthrough in the business sector is the 3D printer.
As technology becomes increasingly more advanced, the latest products have the power to give businesses that strategic edge to get ahead of the game. With the 3D printer, one can now create a prototype of a space shuttle component or a prosthetic leg with just a touch of a button. Industry experts have pronounced 3D printing as among the technologies that is poised to “creatively destroy” how business is conducted today.
How 3D Printing can Impact Businesses
Companies in various industries can greatly benefit from the 3D printing technology. For instance, an architect can now print a 3d model of a house to present to his clients. Even the prototype of a new bone replacement can also be printed! In fact, you will be surprised to find out that majority of the hearing aids today are now created using the 3D printer.
Just how big can this get? According to Wohlers Associates, the sales of 3D printer products and services are estimated to reach $6 billion worldwide by the year 2017. And it is forecasted that by 2021, the industry wide sales will reach $11 billion.
A 3D Printer for Your Business
Interested in becoming among the owners of a 3D printer in your industry? Whether you are in the medical, manufacturing or real estate industry, you can definitely expect this product to drive the most growth as well as the greatest profit potential.
However, owning a 3D printer will require a significant amount of capital as an HP model can cost anywhere from $20,000 to as high as $600,000 for commercial use. For the hobbyists and DIY crowd, one of the available low-cost models can range around $5,000 or less.
Indeed, the possibilities are endless for the 3D printing technology, all waiting to be explored and exploited. Experts have identified the following industries to have a great use to this technology:
Geographic information systems
Financing for Equipment Acquisition for Your Business
Buying the latest innovation out there can be quite daunting as it requires a significant investment. Whether it’s the 3D printer or any other equipment, tool or machinery that can spur growth and raise revenue for your business, buying instead of leasing can present a great number of advantages.
Technology can exponentially enhance productivity, streamline operations and reduce human error – all of which can mean great advantage for your business.
If you are looking to invest in new equipment for your business, seeking financing assistance from reputable lending companies like First Capital Business Finance presents a viable option.
There are a number of financing options specifically designed for small businesses that will only require you make interest only payments for the first 12 months and a repayment plan over a period of 5 years. This will not only free up your cash flow, you can fully maximize the profit-generating potential of the new equipment. There is also the fact that ownership of new equipment will mean creating a new asset for your business.
If you would like to speak to one of our business development managers, we can be reached at 888-565-6692.
First Capital Business Finance is committed to helping you meet your cash flow needs to grow your business. We serve small and middle market businesses and large corporations with range of loan and financing options