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The local office superstore is for new business owners, what candy stores are for little kids. In fact, you can tell new business owners from the veterans, because they're usually running up and down the aisles with a semi-crazed look on their faces.

We jest, but not getting swept away in the excitement is crucial for new business owners. The decision to purchase key pieces of equipment can affect your profits for the first couple years of operation.

To help you sort out impulses from insight, here's a list of tips on when and what to buy:

Tip #1:
If it will pay for itself in 12 months, but last for more than two years, you should probably buy it. A piece of equipment that increases your efficiency, lowers your costs, or frees up your time to do more important things is always a worthwhile consideration. When the cost savings or increased profit will pay for it in a short window of time, it's generally a great purchase.

Tip #2:
Some things are better bought used. While we all like to pull shiny new things out of the box, that privilege can cost you. If you need fixtures for your business, production equipment, or vehicles, the savings by buying used can be gigantic.

Tip #3:
Some things are better bought new. Often times, equipment like computers and electronics, cost virtually the same new as used. Usually, you'll even get a model with more capacity or features that's still under warranty.

Tip #4:
Some things are better bought online. For things like consumer electronics, you'll generally find some of your best deals online. In addition to Ebay, check out Half.com, Overstock.com, and Buy.com. Also, look for rebates and coupon codes for those sites at places like FlamingoWorld.com.

Tip #5:
If you have to go to a brick and mortar store, ask for their "Business Sales Manager". Many of the larger stores have specialized personnel that work with small businesses. Not only do you get specialized advice, but you often get a discount off the retail price.

Tip #6:
Talk to your accountant. Different types of equipment receive different tax treatments. Sometimes, you have to depreciate your cost over 5-10 years. Other times, using a Section 179 deduction, you can deduct your entire cost in the year of purchase.

Tip #7:
Get other business owners opinions. Whether your ask other owners directly, or spend some time surfing online message boards, you can gain a lot of valuable wisdom on things like cost and manufacturer.

As with all major purchases, most business owners would be wise to allow some time between their decision and actual purpose. Use that time, to ask yourself, "If someone gave me what it cost to purchase this equipment, would it still be the first thing I spent it on?" If not, the purchase may not be the best idea.

Learn more about this author, Ken Clark.
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