Awards & Engraving

March '19

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8 • A&E MARCH 2019 Braden Todd is a second-generation engraver and owner of Glassmith2, located in Boulder, Colorado. Braden's expertise ranges from sandcarving, industrial laser cutting/engraving, UV printing, and the other supporting facets that allow Glassmith2 to consistently provide cutting- edge items to its retail and wholesale customers. Questions and wholesale inquiries are always welcome: By Braden Todd Part 2 : So you want a fiber laser? Fiber Lasers : A BEGINNER'S GUIDE I f you have decided that you want to buy a fiber laser, congratulations on the new journey! After selecting the manufacturer, machine, power, and acces- sories (read up on this topic in my first article in the September 2018 issue, page 28), it is time to decide how you are going to afford the new machine along with some other considerations. A lot of people believe that the only way to buy something is by using cash; while using cash is a great way to pro- ceed, what if you don't have the significant amount of money needed for the machine? Or maybe you have the funds available, but it would drain your savings or bank account to use it all on a new piece of equipment. I believe that there should always be reserve funds available for slow months or slow-paying customers, and because of this, I would rather not deplete emergency funds on a new purchase. Luckily, our industry has some great options for funding, but make sure to look at all variables before pursuing any financial decision. Following, I discuss some financing options as well as other factors to consider when purchasing this equipment. FINANCING/PURCHASING OPTIONS One avenue to fund a new purchase is to research the Small Business Administra- tion and the options they have for loans and lenders that work with them. Another option that can be used is your current bank. Sometimes banks can be a little harder to work with, especially if you have a new company and are just starting out. One drawback comes in the form of a UCC lien against your equipment. Basically, a UCC (Uniform Commercial Code) lien is a notice that a lender has a security interest in your assets. The assets used for the UCC lien are used as collateral for a loan, and guarantee the lender has first rights to the funds from those assets. What gets a little unnerving is that some banks will not only put a lien against your purchase (specific collateral lien), but also your other equipment and any new equip- ment you purchase in the future (blanket lien). If you choose to go this route, be sure to ask about the type of lien (specific versus blanket) and all UCC filings before agreeing to terms. Yet another option for financing is leasing your equipment. Leasing doesn't mean that you have to return the equip- ment at the end of the lease; instead, there are a few options available that, at the end of the lease, the equipment is then paid off and belongs to you. There are various types of leases that can be used; I recommend talking to a few companies to determine the best lease and terms for your business. A few options I have seen are the $1 buyout at the end, and a 10 percent Fair Market Value (FMV) payment at the end of your lease. With the $1 buyout option, you are able to take advantage of the section 179 tax breaks; with the FMV option, you can simply write off the monthly payments. If you are considering the lease route, I highly recommend Geneva Capital and Partners Capital Group. Both have competitive rates as well as lease options that are geared to help you get your business growing, and as an added benefit, they only require a lien on the equipment you are financing until it is paid off. Again, please do your own research on which option is the best for you and your business. For me, being able to lease my first Epilog laser enabled my business to grow to the point it is at today. FIBER SAFETY Okay now that the dreaded paying for it part is done, lets talk a little about fiber laser safety. Eyes: A fiber laser that has an open bed system needs a little more thought put into safety. I am used to my CO 2 lasers and their safety needs, one of which is eye glasses to pre- vent the reflected beam from hurting my vision. With the CO 2 lasers, a simple pair of protection glasses is a perfect and easy fix. I did not realize when looking into my

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