Whether you are just starting out in the building business or are an established company manufacturing and transporting your goods across the UK, you may need specialist equipment from time to time, such as a forklift truck or crane for moving large, heavy or awkward objects. Your first thought may be to buy the machinery you need, especially if you think there’s a chance that you might be using it a lot in future. But that’s not always the decision that makes sound business sense. If you need a crane, why not instead consider crane hire instead?
There are plenty of reasons in favour of renting a machine or equipment rather than buying it outright and as specialists in HIAB hire Bournemouth wide and beyond, we look at just a few of them in this short article.
The Advantages of Hiring Over Buying
- For many businesses, not least those just starting out, cash flow can be an issue. Rather than use up money that you may need elsewhere in the near future, hiring equipment like a fly jib or HIAB means you can access the kit you need without the cost.
- You may instead decide to borrow the money to buy the machinery you need – but this can be an expensive undertaking if interest rates are high and again, the cost of repayments may leave you short of cash in other areas.
- Perhaps the spec for the machinery or vehicle you need makes it prohibitively expensive, like for a low loader used for haulage, for instance. Hiring what you need means you will usually have access to a much higher standard of equipment than you would have been able to afford otherwise.
- Hiring also reduces costs in the medium to long term. Large machinery takes up space, and if that’s limited at your place of business, owning equipment often means that you have to pay out for undercover or indoor storage to protect the item from weather damage or from theft. Not only that, but there’s the cost of ongoing maintenance. To keep the machinery or equipment in good working order, it must be routinely looked after. This takes up time, and possibly money, that you may not have to spare. If you hire the kit you need, though, storage and maintenance becomes the responsibility of the hiring company. They will ensure any item they hire out to you is in good condition and is safe to operate.
Helping Plan for the Unpredictable
In many industries at the moment, workflow is unpredictable. You may not know where your next project will be or what it will entail. So it may seem like a good investment to buy a curtain sided lorry for haulage, for instance, but what if the market dries up in that area? Perhaps your next project is at the other side of the country. Maybe you’ve taken advantage of crane hire, but now need a fly jib for your next project? Hiring equipment just makes sense – it’s the most flexible and cost effective option.
For HIAB hire, haulage, container sales, container storage and more in Bournemouth, Dorset or across the UK, contact Days Transport.