More and more companies adhere to the practical philosophy that hiring plant equipment is much better than purchasing machinery outright, and there are very good reasons for this. Not only does it allow the company to save a lot of money when it comes to initial investment, it also ensures they get the right tools for the right job, for the term that they need it.
It’s a trend – and it’s a global trend. But why is this so? The answers go far beyond simple economics. It’s about risk and project planning as well. Here’s why it makes better sense to hire your construction equipment.
It should come as no surprise that 80% of all heavy equipment due for construction is actually meant for rental companies; it’s an expensive endeavour to acquire. Not only does it require a heavy down payment (which eats up precious capital), there are monthly fees in a long-term commitment. Hiring settles that problem – you save capital and are able to avoid long-term commitments.
Maintenance and repairs
When you buy, you need to hire crew with specialised knowledge – employees who understand specific mechanical and electronic components. This is often an expense requirement (and long-term commitment) which can be eliminated by hiring.
You never know what you will need for the next project, and buying equipment that could possibly have a lot of down time (depending on future projects) simply doesn’t make sense.
Reliable cash flow
When you hire, especially from plant hire Chesterfield experts like Ruttle, you have a periodical bill which remains steady as per contract – and it lasts only for as long as you need the equipment. This ensures a reliable and predictable cash flow, and it also means you can make better management decisions when it comes to allocating funds.
No disposal hassles
If you own it, there will be a time you have to get rid of it – this is not something you have to worry about when you hire. You use it for as long as you need to, and once you’re done, it’s no longer your problem.
Here’s one more aspect that needs consideration: you may be able to partner with a provider of equipment that actually has more to offer than just the equipment; it’s also about being able to get perfectly trained operators who know exactly what they are doing. Even better than this: you may be able to find a partner that can help you with other needs, such as recommending removal services for debris and garbage, construction materials, and other important considerations. When handling a project, it’s always better to make a deal with whoever understands your needs and can help you in more ways than one.
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