BENEFITS OF RENTING
WHY RENT?
Equipment rental appeals to many industries because of its many benefits and advantages. In addition, competition among rental providers can work to the consumer’s advantage with prices, specials and service.
BENEFITS OF RENTING
1. FORGO THE UPFRONT INVESTMENT
Not having a large chunk of money tied up in a piece of capital equipment frees up funds for you to pursue opportunity and maintain other important parts of the business.
2. MAINTAIN STRONG BORROWING POWER
Banks do not see rental expenses as a liability on the balance sheet, so the option to rent equipment maintains stronger borrowing power for a business.
3. SAVE AT TAX TIME
While many circumstances apply to an individual business’ tax return, rental expenses are a deductible expense. In some cases, they’re viewed as project expenses or might have some type of tax-deduction benefit available because of the nature of certain kinds of business.
4. AVOID STORAGE, TRANSPORT COSTS
Equipment rental eliminates the need for long-term storage and can save you from the worry over logistics in transporting equipment from site to site, since you can simply have the rental equipment delivered and picked up when needed. It can help you respond faster to varied needs in different locations.
5. SHARPEN YOUR COMPETITIVE EDGE
Many businesses bemoan the fact that it’s hard to compete against the big companies that have the nicest, newest, best machines while they, in comparison, make it work with older ones. Equipment rental can shift that age-old characteristic so that small competitors can procure the same type of equipment for jobs, if that’s what will win the work. Renting gives you access to a diverse, efficient and compliant fleet of machines, just like the bigger companies.
6. ELIMINATE COORDINATION HEADACHES
Rental provides a win-win cycle for business because experts maintain and service the equipment, so it is less likely to malfunction or break down. If something does go awry, the customer can call those same experts to figure out what’s wrong. Renting equipment can alleviate you of the concern and organization required to accomplish proper training, maintenance, service and scheduling of the machine: one benefit many business owners or fleet managers would agree is created through renting.
7. GAIN FLEXIBLE OPTIONS
Several factors demand flexibility in today’s business market, chief among them being a major recession, razor-thin profit margins, increasing regulations, market volatility, growing demand for specialized capabilities and the general quest to deliver quality service, great products and efficiency. Renting equipment enables companies to respond to specialty niches, financial fluctuations and the ebbs and flows of demand.
8. CONVENIENCE
When you rent, things such as fluid checks, service, maintenance, hours count, schedules, testing, parts and depreciation becomes someone else’s responsibility. Not only is it easier to let the professionals at a rental company handle some of the logistics for you, but also it frees up your valuable time and saves money in many cases.
