FAQ: What are the operational benefits of renting?
Benefits of Renting Equipment part 2 of 3: Operational Benefits
While owning equipment can be beneficial, oftentimes having a relationship with a rental or leasing company can offset unexpected needs, like an increase in demand for a particular piece of equipment. When changes occur rapidly in your business, it’s important to be ready to accommodate them in order to seize opportunities. Here are a few reasons renting can offer operational benefit to your business or project;
- Cover short term needs / temporary surges in workload: Rentals are a fast and efficient way to cover spikes in production and other short term needs when purchasing does not make sense.
- Workplace flexibility: If you decide to change your work scope, either downgrading or upgrading or starting a whole new chain of operation, you will always have exactly the right amount of machinery.
- Appropriate equipment for the job: Ownership often forces another type of inefficiency through the use of the wrong size or type of equipment for the job. The “we’ll make it work” mentality can lead to poor production, lost time, increased costs and in some cases can be a liability factor.
- Delivery to any location: Each work sites may have completely different equipment from the last. Purchasing, maintaining and keeping control of such a potentially large inventory can be a daunting task. Renting equipment means that the rental company now has the burden of maintaining, tracking and controlling the inventory.
- Respond to sudden demands: At peak periods, for unexpected projects or when essential equipment breaks down, the rental can put the necessary equipment in your hands ensuring seamless operations.
Read the rest of the series here:
Benefits of Renting Equipment part 1 of 3: Technical Benefits
Benefits of Renting Equipment part 3 of 3: Financial Benefits