Lease Your Tools
Artisan’s Asylum has only been possible through the support of its member community, and this is highly evident in the equipment we field. Most of the equipment in the shop is leased from Asylum members and maintained to manufacturer’s standards by volunteers. This allows us to field higher quality equipment than we might have otherwise been able to, and allows members of the community to share equipment that might otherwise lie fallow in a basement or garage.
In order to make this leasing process happen, we have established the following guidelines for leasing equipment to the space.
In exchange for access to the equipment, the Asylum takes on the responsibility to:
- Maintain said equipment in good working order, per manufacturer recommendations.
- Assume liability for the operation of said equipment. This includes both protecting the owner from being sued if someone injures themselves with the equipment and also means that we’ll replace the equipment if it gets destroyed.
- Stock said equipment with the consumables required for proper operation.
- Train Asylum members on how to use the equipment properly.
- Prevent untrained Asylum members from using the equipment.
In return, the lessor of the equipment agrees to:
- Provide equipment in a ready-to-use state.
- Provide manuals (or links to manuals and/or maintenance procedures) for said equipment.
- Agree to allow properly trained Asylum members use of the equipment.
- Remove said equipment upon request, given 30 days notice (assuming the Asylum will unload the equipment from the space).
- Give 30 days notice for voluntary removal of said equipment from the space.
In return for access to manufacturing equipment, the Asylum will discount membership (and not pay outright, or discount space rental) according to the tenets of standard lease deals. These deals emphasize the following points:
- The leasing entity pays for the depreciation of the equipment over the term of the lease.
- Lease payments are distributed evenly over the term of the lease.
These concepts are put into practice by way of the following assumptions, which have been made to simplify the assessment process:
- Assume a 2 year lease term. Note that you do not have to be a member for two years, or lease the equipment to us for two years, this is just our decided metric. All leases are month-to-month, with 30 days notice.
- Assume that the equipment will depreciate half of its “New” value over the course of those two years.
- Divide the resulting depreciation by 24 months.
- Discount membership fees by that amount, up to the total membership cost per month.
By way of example, imagine you are leasing a table saw to Artisan’s Asylum. It’s a used piece of equipment, but you’ve made sure it’s in good working order. It had a new value of $1,250. You would calculate your monthly discount via the following steps.
1. Determine the value of the equipment if it was new. It’s given that the value is $1,250.
2. Divide the new value of the equipment in half to determine its depreciation after 2 years. For the table saw, that would be $625.
3. Divide the depreciation value by 24 months. This turns out to be $26.
4. Thus, for as long as you are a member and have leased the table saw to us, you receive a $26 discount on your membership (up to a maximum of a fully discounted membership) each month.
If you would like to lease more than one piece of equipment, please draft a list of leased pieces for us, using this spreadsheet as an example: https://spreadsheets.google.com/ccc?key=0AvgIMJXN7CB5dHM1MXVvX0xRSjNpbXJFakFDNnpVaGc&hl=en&authkey=CPr8ptEL