You're going into business for yourself as a general contractor. You've thought about purchasing all your own equipment, but now you're not sure. Before you go out and invest all that cash, take a look at four reasons why you should rent the equipment from a business like All-Star Equipment instead.
If this is your first construction business, you may be limited in the way you can purchase your equipment. If you have the cash, you may be able to purchase a few pieces of equipment. If you don't have the cash, you'll be looking at financing costs. Depending on your credit, you may be stuck with interest rates that make your monthly payments unbearable.
However, when you rent your equipment, you don't have to worry about cash or high interest rates. In most cases, your rental payments will be less expensive than monthly loan payments for the same equipment. Not only that, but you won't be stuck with a loan if you no longer need the equipment. Simply return the equipment when you're done and stop making the rental payments.
No Maintenance Costs
A broken piece of construction equipment can stop the entire project. When that happens, you lose money. If you own the equipment, you also have to worry about the costs of repairs. When you rent the construction equipment you need, you don't have to worry about the cost of repairs.
Simply return the machinery and get it replaced. A word of caution though. If the machinery has broken due to negligence on the part of one of your employees, you may be responsible for the repairs.
No Long-Term Storage Needs
If you're operating your business out of your home, it can be difficult to find sufficient storage space for your equipment, especially things like skip loaders and bulldozers. You won't have to worry about that when you rent your construction equipment. All the equipment you rent can stay right at the construction site until the project is completed. Once you're done with it, you can return it to the rental lot.
Only Rent What You Need
If you only use a bobcat a couple of times a year, there's no reason to spend the money to purchase one. That's the added benefit of equipment rental – you only have to pay for the equipment when you actually need to use it.
When you own a construction company, you want to keep the overhead costs as low as possible. The reasons provided above show how you'll save money by renting your construction equipment.Share