Businesses are like sharks. Just like sharks must keep swimming or they will die, businesses too will die if they do not stop growing. Expansion, exploring other avenues and upgradations are a crucial part of a business’s lifecycle. However, growing a business is a capital-intensive task. Costs need to be kept low so that they don’t eat into profits. This creates a Catch-22 situation. So how can a business owner grow their business without adding extensive debt and cutting corners? The answer lies in equipment rental.
Purchasing the latest equipment comes with a host of costs. Transportation, installation, maintenance, repairs, etc. Rental removes all these assorted costs in one go. Leaving you to deal with just the rental cost. Companies across the board are increasingly investing in equipment rental rather than purchasing. But how does equipment rental really help a business cut costs and grow? Let’s take a look.
As we discussed earlier, profit starts with reduced expenses. Equipment rental helps with this right from the outset as the business does not have to pay a hefty amount to procure the latest technology. This becomes even more crucial when the business is working on a tight margin but still needs to provide the best output. These are the other costs renting from Energia helps a business bypass:
Site delivery- When one purchases equipment, one also ends up being saddled with the transportation costs. Energia helps cut down this cost and save time too by delivering the machines and equipment directly to the job site. Fuel costs, the burden for the permits for oversized equipment, cost of wear and tear are all provided by the rental company.
Maintenance and repairs- Purchasing also comes with the burden of these costs. Plus the additional costs of employing someone to maintain the equipment, inventory costs for spare parts, and the costs just keep adding up. With Energia, businesses can save themselves from this cost as this responsibility is undertaken by them. The entire cost of maintaining and repairing the equipment is their responsibility. And with their 24/7 support team, one also loses less money during downtimes.
Storage- In a situation where every penny counts, there are hardly any businesses that wish to pay for the most expensive commodity of all, land. Energia takes care of the warehousing of the equipment when it is no longer in use, helping the business save crucial capital. This additionally means that all licensing and property tax expenses for the product are also Energia’s purview.
Tip: Renting equipment can also be a trial run for said machinery. The business can rent and see if the equipment is a good fit for their needs rather than investing large sums for equipment that turns out to be a bad fit.
Growing a business automatically means more projects. This means more equipment which further translates to more capital expenditure. Renting is a great way to add on capacity using better machinery and equipment without additional Capex costs.
Use the latest technology
When one purchases machinery it becomes infeasible to upgrade with the times. This means one gets stuck with the same equipment for years on end. Equipment rental helps the business be light on its feet and flexible, providing the business with the latest technological breakthroughs the moment they hit the market. For businesses in remote locations, this can be a special boon as they too will be able to access the latest technology without waiting for it to be available in their location.
So, as we can see, the benefits of renting far outweigh those of purchasing. For a business to keep costs low and adaptable to the changing economic and technical environment is crucial in this day and age. Renting from Energia guarantees these benefits and helps a business truly grow