Heavy equipment is essential to the success of any construction business. One of the most costly parts of any construction project is the equipment involved. Maintenance, storage, and transportation are not directly covered by project revenue the way that materials are, and equipment can be time-consuming to manage, as well. In many cases, it can be much cheaper to rent equipment as needed rather than to buy it outright, though it isn’t always easier to tell which equipment that would be. Here are just four major machines and equipment that you’ll likely be better off renting instead of buying.
Most major construction projects will begin with some digging. An excavator is a basic part of this process. However, in the time that you do one major construction project that involves excavation, you also will likely have several other, smaller projects be finished and completed for other clients. Excavation is also just one part of the major projects, rather than being a necessity for every step. As a result, renting an excavator as you need it for various projects can be an economical choice in the long run. Not only are these used less than other pieces of equipment, these are large vehicles that need intensive maintenance and storage that you likely won’t want to deal with. When renting, all of that will be taken care of by the leasing company. You also will usually have access to a higher standard of equipment than you could afford if you purchased one outright.
All cranes can perform similar basic tasks. However, most models vary in size and how much of a load the deck area can support. This makes them very specialized machines. Instead of having multiple cranes on hand that might not see use or make you any money, you can rent the precise crane size you will need for each individual job. When renting instead of having a host of cranes, you can also include the charge of renting the crane directly in the construction costs instead of having to let your generalized revenue cover the cost of maintenance and storage. This makes your profits much easier to predict and maintain.
The size and type of job site you are working means that you might not always need radios for your entire crew. Since you will usually get details like this before you start a new project, it can be relatively easy to get in touch with a two-way radio supplier to fill your communications requirements on an as-needed basis. Note that many of these suppliers also offer handheld devices such as panasonic toughpads and toughbooks that you can rent. These are best for more rugged use environments such as those found on construction sites, and are specialized for helping with hands-free communication while operating a vehicle.
Most construction jobs will require you to haul away waste materials for reuse or recycling later. However, every job is different, and you might not need a dedicated fleet of dump trucks on hand for small or medium-sized jobs. If you do find out that you’ll be hauling a lot of refuse, you can get in touch with a company that will rent a fleet of trucks to you. This might be a good option for you if any vehicles in your current fleet are getting old as well. By renting instead of buying, you can get more modernized vehicles with greater fuel efficiency that are maintained by the leasing company to a certain standard.
Many factors can influence your decision to rent rather than buy your construction equipment. The circumstances of your business might be unique to you, but there are some examples of basic equipment that might give you more value for your money as rental options. For the bigger projects with specialized needs, consider renting the type of equipment they use so you can save your storage and maintenance funds for your more versatile equipment.