Buying VS. Building Exhibit Lighting for Maximized ROI
If you work in the exhibit design industry, you are faced with challenging choices every day. That’s one of the aspects that makes this industry so versatile and exciting! But when it comes to profitability, it is essential for your business to maximize its return on investment in as many areas as possible – including exhibit lighting.
Today, many exhibit builders choose to purchase existing LED exhibit lighting that can be used multiple times for large contracts or for repeat clients. At Prism, we offered one of our customers the choice between purchasing lighting hardware or building a lighting product for significant, multiyear contracts in the auto show industry. A standard, off-the-shelf product would not meet the rigorous needs that the auto show industry demands. After helping them weigh their options, Prism and our customer decided that the best way to maximize their return on investment was to create a LED lighting product for these projects.
With our customer’s specific needs in mind, the team at Prism set out to create an OEM customized lighting product that was cost efficient, yet had the durability and longevity to outlast the multiyear contracts. Team Prism studied multiple products that were on the market and decided to create a LED light that combined all the critical features, while correcting the deficiencies other lights came with. During the development phase, an intensity control dial was integrated to offer versatility of light power based on the venue and distance light had to travel. We focused on making the LED light fixture easy to set up and use, thus reducing or at times eliminating the need to hire any installation labor, which ultimately saves thousands of dollars in labor fees for the customer over time.
When faced with the choice of purchasing an existing LED lighting solution or building a customized lighting product, the following things should be considered:
- How often will this light be used (how many shows per year)?
- What is the longevity requirement of the light (how many hours)?
- Can the light be used in different capacities (down lighting, up lighting, etc.)?
- Where is the breakeven point (when does the benefit outweigh the financial investment)?
- What lighting features do you or don’t you need?
- What is the cost comparison and labor savings between purchasing or building a product?
Once you’ve considered the above questions, you’ll be able to determine whether purchasing or building a product is the best way for you to maximize your return on investment. For more advice on whether to rent or buy your next lighting solution, drop us a line at firstname.lastname@example.org!