financial

Financial Steps for Replacing a Laser Part

Bob Hagel and his wife Dana own Eagle’s Mark Awards & Signs, offering a full line of personalized products using laser engraving, sand etching, and full-color UV direct print on products. They have offered awards, recognition, and signage products to organizations for more then a decade in the Southern California wine country.

There are some laser parts that wear out that do not prevent you from a day of lasering yet need to be taken care of to prevent further problems.

For these types of situations, a replacement savings account can greatly reduce the stress of the eventual point of having to replace the tube. Ruined materials and products can be an expensive cost if not replacing certain laser parts in a timely manner. Your lens and mirrors also wear in a similar manner. Replacing a lens or tube at the appropriate time may just save you money in the long run.

My Replacement Parts Savings Account (RPSA) includes:

  • Laser tube
  • Lens
  • Primary mirror
  • Secondary mirror

Your sales representative or technical support staff can help you identify the parts you will have to eventually replace, their cost, and an estimate of their life. With this information, you can create a RPSA that is funded monthly with a fixed contribution.

In addition to the cost of these parts, also consider a few important things:

  • Inflation
  • Include shipping in your costs
  • The unexpected — budget an additional amount for something unexpected to break
  • Consider the remaining life expectancy of the parts starting with the month you begin the savings
  • Consider the cost of related labor if you don’t do your own repairs

Here are your key RPSA math formulas with examples (add the monthly budget for each part):

  • Part Expected Life - Time Part in Use = Remaining Part Life (in months): 60 - 25 = 35
  • Part Cost + Inflation Factor = Part Savings Total
  • Part Saving Total / Part Remaining Life in Months = Part Monthly Savings Budget: $5,128 / 35 = $146.52

—Bob Hagel, Eagle’s Mark