Renting Equipment You Don't Have For A Construction Project
The construction trade covers a lot of different kinds of work and if you are a small construction company, you may have a job come up that you don't have the tools or equipment to do. If you have the background to do the job, you may want to consider renting the equipment for the project instead of buying it.
One Time Use
If you are doing a job that requires you to have some equipment like a skid steer loader or a backhoe but you don't own one or feel like you are going to need one very often, you may want to rent the equipment for the job then return it after you are done. A one-time rental can save you a lot of money and if you don't typically need to equipment in your day to day work, the cost of the equipment can be calculated into the cost of the job.
Overhead and Maintenance
Renting equipment offers you some advantages because you do not have to pay the maintenance or upkeep on the equipment, you won't have the cost of storing it, and repairs to the equipment are typically paid for by the rental company unless you damaged it doing something it was not intended to do.
Companies that have large fleets also have large insurance budgets to work with. In many cases, a small company is not ready to take on the costs of owning a lot of equipment but renting it for a specific job can get your company's name out there and show people you have the ability and resources to tackle many different kinds of work.
This is another place that buying equipment can really hurt small businesses. If you rush out to buy equipment before you are in a good financial position to do so, you can get bogged down with costs like insurance for the machine. The insurance needs to cover the machine again loss, but it also needs to cover damage you do with it.
If you buy a backhoe and break a gas line or dig up an electrical line with it, the cost of repairing the damage can come back to you so you need to have insurance to cover it. In some cases, the added cost can put a huge strain on small businesses.
When you rent a piece of equipment, the company that owns the equipment will often transport it to your job site for you. This can save you money because if you own the equipment, you also need to have a trailer, a truck to pull it, and a driver who can handle moving the equipment for you.
Contact a construction equipment rentals business for more information.