Advantages Of Renting Versus Buying Concrete Equipment
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Whether you’re in the construction business, the demolition business or anywhere in between - renting concrete equipment offers some clear advantages.
Cost savings, convenience, flexibility and choice are probably the four most important reasons why so many industries opt for equipment rental, but there are plenty of other benefits. So, if your business has a need for specialised concrete equipment, you’ll definitely want to weigh up the pros and cons of renting vs buying before making a long-term capital commitment.
These are some of the reasons that companies rent concrete equipment:
Cost benefits
Easier cash-flow management
Don’t have to make a long-term commitment
The company has short-term projects with differing equipment requirements
They need a specialised piece of equipment for a particular need
They’re under pressure to meet deadlines
They need to increase their capabilities
They need to increase their inventory to tender/win new projects
They don’t want the responsibility and cost of maintenance and servicing
They don’t have storage facilities for equipment
They don’t want to incur transport costs for their equipment
They need resources on-demand
Ultimately, the decision whether to rent or buy comes down to cost and convenience and whilst there are no hard-and-fast rules about how companies should manage their equipment inventory, the rental option generally makes a lot of sense.
From a large construction company with multiple sites to a DIYer undertaking a domestic weekend project, every type of need can be met through equipment rental. It eliminates the need to compromise on the quality, timing and outcome of the job because the right piece of machinery can be hired to meet the project’s specific needs.
For example, it makes sense to hire a large ride on floor stripper if a project involves a fairly large expanse of concrete flooring. It means the job gets done quickly and efficiently. However, if your business already owns a smaller walk behind floor stripper, you may feel obliged to use your existing equipment rather than outlay any money on renting something else - even it means that the job will take longer and require greater effort and manpower.
Renting specialised concrete equipment also means you only pay for machinery when it’s actually required. There’s no downtime when a capital asset is lying idle.
It also means your company can respond more effectively to ebbs and flows in demand. When your business is busy, rent equipment that you require and when there’s a slowdown, you can keep your costs down by handing back any unnecessary machinery.
Renting also offers an advantage over buying in terms of access to the latest technology and equipment innovations. When you buy a piece of equipment, you accept its capabilities and of course, its limitations. But when you rent, you have access to the latest models and avoid any risk of your equipment becoming outdated or even obsolete. You also get specialised equipment that’s right for a particular job, rather than having to make do with a more generalised device.
Of course, there is no definitive answer as to whether equipment rental is right for your business, so it’s advisable to discuss your options with a trusted, professional concrete equipment supplier who will provide honest and practical solutions.
Come and talk to us about concrete equipment hire in Perth. We have over 20 years of experience in the concrete preparation and remedial industry and we carry an extensive range of high quality and superbly maintained equipment for hire on short or long-term contracts. Concrete Hire is also the only supplier of specialised concrete equipment which has its own fully equipped service centre in Perth plus we keep a full inventory of genuine parts so that your equipment can be back in service in no time.