Should I lease or buy my 1300 / 1800 number?
After deciding to get a 1300 or 1800 number for your business, the next question you need to ask yourself is whether you should lease or buy the number. Two key differences that influence the purchase decision are the level of control over the use and management of the number and availability of your preferred number.
Control over the management and use of your number
Buying: When you buy a number you retain the greatest level of control over your investment. You retain the exclusive right to use your number for as long as you choose.
Leasing: When you lease a number, you will have one of two options: exclusive use (if available) or shared use. See our Lease or Buy Decision Matrix below.
Rights of Use Explained
Exclusive Rights of Use: A 3rd party Phone Words provider agrees that the number is exclusively yours for as long as you continue to pay a monthly lease fee.
Shared Rights of Use: The Phone Words provider agrees that the number is yours to use in selected trading catchments. This enables the provider to lease the same number to other businesses (including potential competitors) in other trading areas.
Get more information about Rights of Use from the Communications Alliance website.
Availability of your preferred number
Because the range of available 1800 and 1300 numbers is reducing, you may find that a number that’s critical to the success of business is owned by a Phone Words company; this means that leasing is your only option.
Before you enter into a leasing agreement, it’s important to check:
- Whether the number is available for use in your trading catchment(s), and
- The details of all businesses using the same number and where they are trading.
Lease or Buy Decision Matrix
|Buy a number||Lease a number|
|You want to maintain exclusive control and rights of use over your number|
|Your investment in promoting and building equity in the number is an asset you retain for the life of your business|
|You want a cost-effective solution that does not include a monthly leasing fee|
|You want the freedom to expand your business and retain use of your number|
|You want to use the number in a specific trading catchment|
|You may have to share the number with a competitor in a neighbouring trading catchment|
|You don’t mind a 3rd party leasing company retaining ultimate rights and control over your number|
|You will have additional contractual obligations to the number leasing company|
So should you lease or buy?
Your business phone number is essential as both a communications tool and a part of your branding. Therefore, it’s important to have the same level of control over your inbound number as you do over your business website domain name, and that the number you invest in will allow you to pursue your business expansion goals without future limitations.
Our business consultants can help you choose the best option for your business, call 1300 255 835 or
send us an enquiry today.