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When it comes to choosing between purchasing a machine outright and taking advantage of plant hire, there is no right or wrong answer. It all depends on your circumstances and what is going to be most beneficial for you. Keeping that in mind, in this post we are going to look at the scenarios when it would be advantageous to go for plant hire.
- You can’t afford to buy the machine outright – Let’s begin with the most obvious situation of them all, and this is when you cannot afford to buy the equipment you need outright. When such a situation arises, the only solution is to hire the machine you need.
- It’s better suited to your financial situation – This relates to the former point, however, you may have the money available yet it may be more beneficial for you to hire the machine. This is because the payment will be a lot more manageable, as you will simply pay monthly or quarterly payments. This is something that a lot of businesses prefer.
- You only need the equipment for a limited period of time – If you only need the equipment for a short period of time, let’s say you are catering to a peak in demand or you have a one-off job for a client, then it is better to hire the equipment you need. After all, it would be inefficient to purchase a machine when there is no guarantee you will use it continuously in the future.
- You want to minimise hassle – Last but not least, one of the main reasons why so many people turn to plant hire is because it is a lot more convenient. Businesses can benefit from the equipment they want whenever they need it, with drop off and pick up being easy. Not only this, but the hire company funds the costs that are entailed, and if any issues arise they will provide you with a replacement so that productivity does not suffer.
So what are some of the benefits associated with plant hire?
Cater to demand
First and foremost, you may not require the machine in question, like a watercart, on a regular basis. You may only need it for a specific job or you may be going through a period of high demand. If this is the case, hiring the machine is certainly the most efficient option to take.
One of the main advantages associated with plant hire is undoubtedly the fact that you can save a considerable sum of money. Firstly, you don’t have the huge outlays associated with purchasing a machine outright. In addition to this, you will make savings with it comes to repair expenses and any other overhead costs. The hire company is responsible for this. The payment structure, small fees per month for example, may also appeal to your business. You may not be in a position to be able to afford to buy the machine with a large initial payment.
Access to a wider range of tools
If you opt to hire tools and machinery you will gain access to a much greater selection of options. This gives you the ability to utilise tools and machines that you otherwise would not be able to. You may have been priced out of the market when it comes to purchasing specific brands. However, by electing to rent instead, you will have the full scope of options available to you.
Last but not least, a final benefit to take into account in regards to plant hire is the convenience. As mentioned, you are able to hire a tool or machine as and when you need it. Moreover, the hire company will revolve their service around your requirements, delivering the machine to you at a time you want and in a manner that suits you.
All things considered, hopefully, you now have a better understanding of the different situations when it proves to be much more effective to opt for plant hire instead of purchasing machine and equipment outright. As mentioned, there is no right or wrong answer, instead, it is all about figuring out what is going to be the most effective solution for the situation you find yourself in.