Starting any business can be tough. You have a ton of expenses that you have to come up with just in order to get your business off of the ground, let alone the equipment that you’ll have to buy.
The construction business is no different. Though you might be able to get by with down payments from customers in order to buy materials, the tools you need to use might be a little more expensive than what you’ve expected.
Thankfully, there are many cost-effective ways to acquire the equipment that you’ll need to use on the job. And renting equipment is one of the ways you can get by financially without having to break the bank.
As such, there are many benefits to using rental equipment, and this equipment isn’t limited to just small tools. Here, we’ll discuss the benefits of using rental equipment and what options you might want to consider.
Trucks & Trailers
So you just landed your first big contracting job. And you can’t wait to get out to the job site and get started doing the work that you love to do, to build relationships and seed the Earth so that your business can grow.
But do you really want to show up to your first job site in your old, beat-up work truck towing a rusty trailer? Sure, the old thing might be reliable, but does it look professional?
This is one question that you’ll need to ask, because professionalism is going to be one key ingredient to you landing more customers. So if professionalism is what you’re after, and you can’t afford to buy a brand new work truck just yet, consider renting a work truck until you’re able to.
Renting a work truck or a trailer allows you to look your best while on the job, and you can even add a magnetic logo to the sides of the truck to display the name of your business and contact information. This, in itself, is a great way to market your new business.
Heavy Equipment Rentals
The good news is, some jobs that you’ll likely want to take on will come with a huge payday. But the only issue here is that these jobs might require some costly equipment just to get the job done.
When you’re just starting out, you might be pressed for cash, only getting by from job to job, so forking over thousands of dollars for costly heavy equipment might not be in your budget.
If this is the case, consider renting heavy equipment. Instead of paying thousands of dollars for a brand new excavator, backhoe, bulldozer or anything of the like, heavy equipment rentals offer you the ability to use the equipment at an affordable cost.
And you’ll be well on your way to collecting that big paycheck without having to spend all of it immediately.
Why Rent instead of Buy?
Even if you have plenty of startup cash, do you really want to spend all of it on brand new equipment? Or would you rather pocket that cash and wait until you double your savings before you shell out thousands of dollars for brand new equipment?
Renting equipment for your contracting business allows you time to get your feet wet and make some money on big jobs without having the financial headache of balancing cost and cash flow.
Today, we have far too many things to worry about. And while everyone is worried about mask mandates, shutdowns and the next round of vaccines for COVID-19, the last thing you want on your plate is a financial struggle
When you’re just starting out in your business, cutting costs is going to be your best strategy. And if you can get by with renting equipment until the time comes when you’re able to purchase a brand new excavator, you should seize the opportunity and save your money.