The decision to invest in expensive plumbing equipment is not one to be taken lightly. Whether you’re a small business owner or a water board, better plumbing equipment can make a difference to your efficiency as a business as well as improve employee confidence levels and morale. But of course, new plumbing tools and equipment can come at a cost so there are several considerations before taking the plunge.
Improvement to your business
Discovering new technologies within the plumbing industry, and investing in these tools can dramatically change the way your business runs. If you save each employee or plumber half an hour a day with a new device or tool, that means they’re saving 3 and a half hours a week. That’s time to fit in an extra job, or complete admin tasks and generally increases the overall efficiency of your business. Over the whole month, one employee could save 14 hours – that’s a day and a half.
Return on Investment
If you’re concerned about the overheads with new plumbing equipment, it’s important to calculate how soon you will have paid off the equipment and begin making a profit. Assessing the overall worth of the product and the impact it will have for employees and customers means you will be able to make a more calculated decision in terms of the investment. You can calculate return on investment using this simple sum:
Return on investment = Revenue – Cost
Your revenue should take into consideration all the relevant factors including time saved. It’s important to remember the improvement to customer service that a new product could offer, as well as your own efficiency and performance levels.
At Ferret Technology, we have had years of experience assessing the plumbing industry and analysing tools and devices that lead us to identify a lack in effective leak detection tools. Our Ferret leak locator technology has been developed to fill this void, to save clients time and money. If you’d like more information about our technology, please get in touch by calling us on 0800 292 2835 or fill in our contact form.