When you think about it, basically everything that consumers purchase comes in a package…and those packages were shipped in a package, and those packages most likely came in even bigger packages at one point.
The packaging industry affects nearly every other industry in one way or another, at some time or another and so it makes sense that packaging is considered to be the third-largest industry in the world.
Packaging machinery makes unit production much more efficient. When you have a packaging business, every millisecond counts—and with the right machinery, production that may take one minute can be decreased, making profit increase. In other words, the quality and efficiency of packaging machinery generates or eats away at revenue.
As technology improves, it’s important to keep in mind that this valuable machinery must be kept updated.
Manufacturers of packaging machinery often upgrade this equipment to be even better, faster, and more efficient, which means that the companies that use that equipment will be better, faster, and more efficient as well. Upgrades mean that “bugs” are worked out of the machines and that improvements are made. Plus, packaging industry customers change formulas or packaging needs, which can require upgrading or retooling systems.
When a business is either being built or modernized, one of the most important elements of the budget planning is the packaging machinery’s lifespan. With the right equipment, a new packaging company can be thriving within a few months, and an established one can take production from good to the best.
Packaging machines are often necessary to the growth and progression of a company, because a company can grow with the upgrades. This is what makes them great candidates for financing: they can help a company generate revenue as they are being paid for.
READ: Why Put Profit Above an Equipment Lease Payment
Lease financing for the packaging industry has helped many companies because instead of buying packaging machinery outright up front, the machines can be financed and the extra money can be put into the business.
The first step is to determine what packaging machinery is needed (or will be needed for an upgrade), and then set up lease financing for your packaging industry business with a reputable lender who will help you determine the best plan for you.
At Global Financial & Leasing Services, we have expertise in the field of packaging machine financing, and we can guide you in the right direction. We don’t require any down payment, and we specialize in helping business owners who have less-than-perfect credit.
If you’re interested in lease financing for the packaging industry, please don’t hesitate to contact us to learn more!