Industry Analysis: Calculate the ROI of your 3D scanner
Is your 3D scanner profitable? Optimize your work process and use our online ROI calculator to find out why a Scoobe3D scanner is worth the capital expenditure.
In this blog post, you will find detailed instructions on how to calculate the Return On Investment (ROI).
The Scoobe3D and the 3D scanner Artec Eva serve as examples to illustrate the differences between two 3D scanners concerning the rate of return by using the ROI formula.
Use the Return on Investment calculator to make sure that you are satisfied with your decision and convinced that you are doing the right thing by comparing the results of the calculated rate!
Why do you need a ROI Calculator?
A ROI calculator tells you when the invested capital will coincide with the income obtained from it.
As an illustration, let’s walk a mile in engineer Ingo’s shoes.
Ingo works for a company that procures or manufactures spare parts for vintage cars.
With the following instructions you can calculate the time at which your 3D scanner will pay for itself.
Since original spare parts are difficult to obtain for most classic cars, Ingo's company often uses parts for new cars or produces the vintage parts employing reverse engineering.
For both strategies, the original measurements must be determined as accurately as possible.
Ingo has already decided to use 3D scanning for his project to reach his long term goals: save time and get accurate data.
However, quality has its price. Therefore, Ingo wants to research thoroughly before deciding in order to make the right choice. The Scoobe3D scanner and the Artec Eva 3D scanner are both on his shortlist.
By calculating the ROI, Ingo determines when the costs for the respective 3D scanner will coincide with the revenues. Therefore he can see at a glance which 3D scanner is more profitable for him.
As you progress through the blog post, you'll learn how to calculate your ROI step by step. Alternatively, you can simply watch our YouTube video.
But how is the ROI calculated?
Step 1: Calculate your savings
First you estimate how many 3D scans per month are realistic for your purpose. You also enter the working time for the creation of a 3D model.
To calculate the cost of investment, we have roughly estimated the value of the time saved using various factors.
The following processes form the basis of this estimate: the pre-treatment of the scansurface, the scanning process itself, the calculation, a possible post-treatment and the import into CAD.
Depending on the industry, you currently save 40 to 60 percent of your time when using the Scoobe3D. If you use the Artec Eva 3D scanner, however, you save only 25 percent of your time.
The mean value of your time savings with the Scoobe3D is therefore 50 percent. Accordingly, we recommend that you enter the average value of 0.5 in the table.
Finally you add the hourly wage to the table that your responsible employee receives for working on the 3D model.
Back to Ingo: his monthly savings
Engineer Ingo estimates that he will do 8 scans per month with the Scoobe3D scanner. For the working time on a 3D model, he plans 5 hours for his purposes.
Afterwards, he enters the average time saving with a mean value of 0.5. Since Ingo earns 65,00 Euro per hour, he adds this number to the table.
If Ingo multiplies all values with each other, he gets the monthly saving results that amount to 1,300.00 euros.
Step 2: When does the investment become profitable?
The monthly ROI results from the difference between cumulative costs and monthly savings. In the following table you can see when the ROI becomes positive, i.e. when income and invested capital are equal.
With Ingo's investment, the costs and income through the Scoobe3D coincide after the 6th month.
Step 3: Compare your Scoobe3D result with other 3D scanners
Finally, Ingo would like to compare the duration of the amortization.
He is particularly interested in comparing the 3D scanner Artec Eva with the Scoobe3D.
The purchase price of the Artec Eva amounts to 15.500 Euro and Ingo achieves an average time saving of 25 percent.
With the same working time and number of scans, Ingo gets the following savings with the Artec Eva 3D Scanner:
With the Scoobe3D, Ingo has a monthly saving of 1.300,00 Euro.
Calculate ROI online - our return on investment calculator automatically creates a monthly overview for the Scoobe3D for Ingo. Subsequently, he compares this result with the Artec Eva 3D Scanner.
The figures speak for themselves: With the Artec Eva, Ingo needs a full 30 months before he receives back the invested capital in returns.
The Scoobe3D, on the other hand, generates early returns because it already pays for itself after the 6th month.
So with the ROI Calculator Ingo makes his decision with a clear conscience -- for the Scoobe3D.
Make your choice based on well-founded figures as well. Just do the same thing as Ingo and use a financial calculator like the ROI Calculator to compare your favorite 3D scanner with each other. Take a look at the annualized ROI...Your decision will come easily!