Hiring plant equipment and construction tools aren’t just reserved for the small businesses who have construction plans – as a matter of fact, the larger businesses are reaping the same advantages as their smaller counterparts; and for good reason. After all, it’s a wise decision. It’s simply a matter of common sense.
The truth is that about 80% of all construction equipment bought in the UK is destined for hiring and renting. That’s basically 4 out of 5 – and it just shows how smart the modern construction entrepreneur has gotten over the years. It’s not just a trend; chances are the wave will continue and strengthen. But why would this be so? Here are the top five advantages of plant equipment hiring you didn’t know about.
Avoiding a large investment
Not only does buying the equipment outright involve large amounts of money and probably a long-term commitment, it also entails a lot of unexpected costs that you may not have anticipated from the start. Purchasing tends to tie up your money in many surprising manners, and this is not beneficial unless you have a great maintenance crew, lots of extra money in the bank, and plenty of sure projects in the future.
Managing a good cash flow
Ask any manager, and he or she will confirm that every business – any business – is all about managing a good cash flow. This is a very hard thing to do when you make a purchasing deal. Hiring allows you to manage your cash flow in a much better way, allowing you to be flexible in a constantly changing market.
Think about managing the crew. Think about maintenance and storage. Think about not having the right tool for the right job. Think about accidents and breakdowns. Hiring avoids downtime and lets you manage your time much better.
Technology becomes obsolete
When you hire, you are sure to have the best technology available for the job at hand. When you buy, you’re stuck with what you have got.
Try it before you commit
You can try the equipment before you sign the contract, and that is invaluable. This advantage ensures you are able to estimate time and costs on a short-term basis very efficiently.
Here’s one more advantage you are bound to get when you choose to rent rather than to purchase outright: you are able to get all the advice you need – advice given by seasoned and experienced operators and owners, such as plant hire Preston professionals from Ruttle – without any extra fee. They want you to make full use of their machinery, and use it wisely, after all. That’s advice that would otherwise be hard to get. And this advice is something you can’t write down in the books. It’s about being efficient and progressive. It’s all about success, after all.