Hiring construction equipment is the way forward to keep your construction business dynamic and fluid. You can avoid large outlays, budget easier, and not take on the responsibilities of owning mini diggers and the like. With this in mind let’s take a closer look at why tool rental rather than purchase is a good idea for small to medium construction businesses.
Better budgeting
Most construction companies take on different contracts which require different types of heavy equipment. You may need a bulldozer for one job and an earth excavator for the next job. Outright purchases may seem like a good idea but this brings its own headaches.
Consider:
- Do you want to make a large outlay for rental equipment that may sit in a warehouse somewhere for 11 months of the year?
- Are you happy to keep on top of the bureaucracy and paperwork that comes from ownership?
- Do you want to allocate resources to regular servicing of the equipment?
- Are you happy to pay for repairs to the equipment as needed?
If the answer to any of these questions is no you may want to consider mini digger hire as a viable option next time you need one to fulfil a contract.
Hire costs are normally fixed so you can allocate part of your budget for them from a specific job. This helps you keep an eye on costs and better and more accurately calculate revenue.
Flexibility
As well as budgeting you have more agility and flexibility through using construction equipment rental rather than outright costs. You only hire equipment when you need it and the more reputable suppliers can provide you with the equipment you want almost on demand. Giving notice is a good idea, however, as you don’t want to risk delays.
This option gives you significant advantages when planning how to approach a contract. Such as:
- You can hire the equipment for as long as you need it and no longer. Once you’ve finished with it you simply send it back and it is no longer your responsibility.
- With the proper planning you can minimise costs through hiring for it for a certain time frame. Suppliers may even only charge you pro rata for using the equipment so if you finish with it early you save money.
- Depending on the type of equipment many suppliers deliver and collect it. You won’t lose staff as they collect and drop off the equipment as needed.
Having this flexibility allows you to plan the work from start to finish more effectively. In turn, this provides a better and more productive workflow and as such, you provide a better service to your clients. This cements your reputation and increases considerably the chances of repeat business.
Minimise legal headaches
Owning construction equipment comes with its own share of headaches. You have to ensure regular servicing and develop planned preventative maintenance programmes are in place. You have to store it securely when not in use and if the equipment is unique you may only use this equipment a few times a year at best.
The costs of this specialised equipment such as cranes and things tends to be high. This can really hurt if you are a small to medium business. Hiring equipment as we have seen allows for much better budgeting.
Remember that tool rental suppliers are contractually obligated to ensure their equipment is in good working order, serviced with a paper trail and fit for purpose. If you have had to deal with the bureaucracy of all this you know how time-consuming it is and how it draws people away from getting the job done.
Tips for tool rental hire
To get the best from tool rental hire consider the following tips:
- Build up a good relationship with a supplier. They may offer a discount scheme and or you might be able to negotiate a better price if you need a few pieces of equipment at the same time or you place a lot of business with them.
- Good suppliers will give you priority if you are a good customer which is invaluable at getting you out of an emergency situation.
- When scheduling build in a few extra days as things can go wrong. That said, the better suppliers will be able to extend construction equipment rental a few extra days on a phone call.
- If you can get your supplier to deliver and collect the equipment so you don’t have to lose time and staff.
Hiring equipment can make all the difference if you are in the construction business no matter the size of your operation. Being able to provide a better more cost effective service to your clients brings its own rewards. Hiring equipment allows you to do that and forge a solid reputation for excellence in the industry.
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