Whether you've been in the biz for a while or just starting up a hobby, the big question is; Should I buy or rent?
In my experience, I've done both and there were pro's and con's with either. These days with gear being truly affordable, there is an incentive to purchase equipment and accessories outright. However, there are unseen costs that come with both purchasing and renting gear. Here's a vid from Caleb Pike that gives a solid analysis of this very important question....
Owning Gear from Caleb Pike on Vimeo.
thanx for the video.. my t
thanx for the video..
my take is buy what you can afford, rent when what you own isn't right for the job.
that way you always got your gear.... even if you wind up using your gear as "Back-up or b roll" on a job... the main problem with rentals is availability, and familiarity...
I own prosumer gear and rent pro gear as needed.
I am a very big proponent
I am a very big proponent of renting gear, at least to start. It's very easy to justify equipment cost to your clients when you have an accurate, per-day cost to use it. After working with rental gear for a while, you should have a good idea of the kind of equipment you use all the time, as opposed to equipment that is merelysituational.
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Mike Wilhelm
Videomaker's Content Director
I also own prosumer(xf100,
I also own prosumer(xf100, 5d etc.) but rent pro when needed. I tell people starting out to at least own something, even a d3100 or and old hmc40 but have something to learn on and use whenever you want. When you get good and can use any camera sight unseen them you move to renting. Whih is the opposite I hear from other people, but that's my take.
Oaken Beeson
www.xseeddesign.com
www.cinebasics.tumblr.com
In my experience, rent whe
In my experience, rent when you have a client willing to pay for gear you don't have or if your budget supports it. Renting can cut deep into your profits. Now if you're wanting to work with cinema primes or need a steady rig for a heavier camera, etc. yeah renting is the way to roll. But if the rental percentage cost is greater than your profit percentage, that's when having your own gear comes in handy.
H.Wolfgang Porter, Composite Media Producer Dreaded Enterprises Unlimited, Inc. www.dreadedenterprises.com
Composite1: I'm confused.
Composite1: I'm confused. Why should any cost "cut deep into your profits?" Profits come above costs, not despite costs. All costs should be taken into account when quoting a price for the job to a client, including your salary, equipment rental and amortization costs, transportation, meals, etc. Additionally, added a cushion for unexpected contingencies and percentage above costs for profit.
A client doesn't know, or care, whether you own or rent your gear, just how much the job will cost.
Jack
Jack
http://www.videoccasions-nw.com
If you rent a piece
If you rent a piece of equipment more than five times in three years, its then more economical to purchase that equipment, with extended warranty. Other advantages to owning is that you become totally familar with the equipment and there is nothing to stop you invoicing its use out at normal rental card rates. Ideally I try to update cameras between three to four years at which time its second hand price and avoidance of any service costs make the venture economically viable.
"A client doesn't know, or
"A client doesn't know, or care, whether you own or rent your gear, just how much the job will cost."
Jack,
True, but.... I've lost jobs because the cost of renting gear and making a profit was higher than if I had the gear. You're right, client's do care about how much the job will cost. I get calls from clients who are hell bent to have their projects shot with RED cameras. That is until I hit them with the rental costs for not just the gear, but all the supporting gear and storage.
If you're paying out more money for rental gear than you're going to get when you don't have the gear, that's a 'cut in your profits'. Now I get your point about clients paying. That works when you have an established outfit and your clients are fully aware and fully capable to pay for what is necessary. When you're starting out and or a small outfit, those clients are rare. Most times you'll be doing your best to not freak them out when they see how much it will cost with a big rental package.
So when you asked 'how would any cost cut deep into your profits?' that's how. Not being able to do a job because renting will drive up the cost of your proposal is a serious 'profit cutter' in my opinion.
H.Wolfgang Porter, Composite Media Producer Dreaded Enterprises Unlimited, Inc. www.dreadedenterprises.com
my experence is i like to
my experence is i like to own my equipment. I rented a couple oftime while in film school because the lackeqipmentto students for a project. After my first year i looked at the cost for rental of the camera (xl2) and mics to the price of one and i realized i could have bought a refurbished one for around the same price. now that was for school projects so that cut into my pocket without getting any money out of it. Ever sense then i have been buying equipment. The main reason i buy is becasue its my equipment and i make more money and if i learn something new in camera or in post i can just go out and shoot practice footage eaisly. so bottom line i think you will profit more from owning equipment