As your business grows, chances are your equipment requirements will grow with it, requiring investment in larger items to meet your needs. Sometimes it can seem easier to hire equipment in the short term, but it may be better in the long term, to invest in your ongoing growth by purchasing rather than hiring.
So what are the benefits of owning your own equipment?
- You always have the equipment you need to hand
If you rely on a hire company, you may find there are times when the item you need is not available.
You are the person responsible for safety maintenance on your own equipment. While this may not initially sound like a benefit, knowing the servicing history of your equipment means you can make it available for employees to use with the utmost confidence in their safety.
- Meeting client needs
If a client is relying on you to deliver on a certain day, having to ring them and let them down because you can't hire the equipment you need is not good business practice.
- Cost per use
Hiring equipment may seem more cost effective in the short term, but, if you have to hire the same item over and over again, there comes a time when purchasing the item is actually more cost effective than continuing to pay hire fees.
You are responsible for the safe storage and maintenance of hire equipment while it's in your possession, as well as ensuring it's returned clean and in original condition. Cleaning and repair fees can be quite high on hire equipment, adding to your initial outlay. Of course, you're also responsible for maintenance and safety when it's your own equipment, but with the added benefit that the equipment is to hand when you need it.
- Meeting your own needs
Instead of making do with whatever's available at the hire company, investing in the specific equipment you require for your business can have a positive impact on productivity and time management.
In addition, many companies offer a maintenance service along with your purchase, meaning it's easy to keep your investment in top order. Action Handling can assist with servicing, repairs and maintenance – simply contact our team for the help you need.
Perhaps now is a good time to assess how much you spend on hire equipment and whether it might be time to invest in purchasing your own.
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