When you first start a new business you quickly realise how many plates you have to keep spinning at any given moment. There are so many aspects of a new business to consider, and if you are working within construction, engineering, infrastructure, or other sectors where heavy machinery and equipment is required in order to fulfil orders, what should you do about acquiring that equipment and machinery?
Whether to hire or to purchase equipment is a question that has positives and negatives on both sides. Let’s take a look at the positives to hiring equipment and machinery as a start-up or growing business.
When it comes to certain types of businesses, as previously mentioned in relation to the need of heavy machinery and equipment in construction and related projects, the cost of purchasing that equipment could be astronomical. It can be difficult to purchase new equipment that fits the bill even as an established business at times, due to cashflow restraints and the like, so as a new business the need to use a plant hire service or similar is even greater.
As a new business grows there has to be effective planning and control over the budget in order to ensure targets are met, but also that suppliers and other bills are paid, and that employees are paid on time. Purchasing, often expensive, equipment and machinery at this stage in the development of a business could put all of these other things at risk. Despite this, you may be faced with a project that requires a specific type of machinery right away in order to fulfil an order, or to meet strict standards on a particular job. In these cases, plant hire and other leasing services allow you to acquire the machinery and equipment that you need right away, without having to wait until further down the line for financial targets and commitments to first be met.
Hiring machinery and equipment also means that you get access to expert analysis, guidance and the latest equipment in whatever you need. A company that specialises in office equipment will be the best place to go to for advice on office furniture, whereas a plant hire service will be able to offer expert advice on the latest plant offerings, and specific to your particular sector and project. This type of expertise and knowledge can be invaluable when attempting to complete a short-term project on time and under budget.
Another area where you can save money by using equipment and machinery hire rather than purchasing outright is that you are not responsible for any problems in terms of maintenance and repairs. If a machine breaks down, your leasing company will be able to deal with the problem immediately, either repairing on site or sending out a replacement. This leads to fewer stoppages to projects, which in construction projects is invaluable in order to save money. With plant hire in particular this level of attention to detail ensures that all machines are maintained and repaired prior to being delivered to a customer, but experts if requested, will also deliver them to a site with extensive training manuals, online tutorials and on-site training delivery. It can make all the difference to the success of hiring equipment.