Before signing on the dotted line, you want to be sure your equipment vendor can deliver on what’s being promised. This is where due diligence comes in.
Talk to a few of your vendor’s other customers and ask specific questions.
- How well were their personnel trained on the equipment?
- How often did equipment require servicing, and when it did, how often was the vendor able to solve the problem quickly?
Also, consider your supplier’s overall reputation.
- How long has the company been in business?
- How long have they handled that specific manufacturer’s equipment?
- What percentage of their business consists of repeat customers, versus the percentage of new business?
You want a company with the demonstrated ability to keep customers happy over extended periods of time. You also want to make sure that your contract spells out the conditions that would terminate the contract (for example, if your equipment was out of service for two continuous days) without incurring a financial penalty for your business.