In the previous article of the Oil Lab Series we looked at the benefits of having your own lab, including the low cost per sample. But what exactly would the investment be to build a lab, and when could you expect a return on this investment?
There are normally three costs involved with owning your own lab:
- Laboratory Setup – the initial investment to set up your lab, including infrastructure, instrumentation and consumables
- Labour Cost – costs to train and employ qualified staff, including a diagnostician, instrument operator, oil sample collector
- Cost per Sample – how much it would cost to run your laboratory
The below diagram illustrates the return on investment of a lab running more than 10,000 samples a year. However, keep in mind that your ROI will be dependent on several factors, including your oil analysis requirements, plant capacity and degree of infrastructure.
Contact our expert Laboratory team at Yellotec for a full cost analysis of your lab requirements.
Now that you have a better understanding of the cost implications of owning and running your own lab, we will next be looking at what factors you need to keep in mind when designing your lab space.
*Please note that this is only an estimation of costs, and based on 2019 rates.
