Renting Construction Equipment Saving Time And Money
Over the course of a typical construction project, many different types of equipment will be used. Many projects require so many different types of equipment that they cannot all be used at once. This equipment is used in stages, which can make the process a bit slower. However, it makes for a safer, more efficient construction process. With that being said, this equipment tends to cost a lot of money. This include electric boom lifts, electric scissor lifts, and much more. The fact is that if all of this equipment is bought outright, a construction service spends a lot of money — and therefore much charge the client more, adding to the general expense of the project. Of course, not every piece of equipment is necessary for every project. If you have a large inventory of machines waiting to be used, there’s an element of wastefulness involved. Certainly, you’re wasting a good amount of money — and going to the trouble of finding long-term housing for the equipment. This is what has led many construction companies to rent equipment rather than buying it. Nearly every type of equipment on the market can be rented — and in fact, renting equipment has benefits aside from the obvious monetary benefit. Let’s look into the different types of equipment you can rent, and why you may want to rent equipment rather than buying it.
Renting Equipment: The Surface Benefits
The American construction market is vast. Its market share is around 10%, making it the second-largest construction market worldwide. As for how much money is involved in that market — well, it was estimated to be worth about $145.5 billion in 2015. It’s no wonder that there are many construction companies who want to be competitive, offering services that other companies can’t. But clearly, the more specific these services, the more money they will cost. Your construction company is taking a major financial risk with every piece of equipment it buys. Therefore, it’s extremely important that your business takes the proper precautions and rents rather than buying. How much does this type of equipment cost on average? There’s a wide range in price, and of course it depends on the type of machinery being sold. An electric boom lift, for example, may cost as much as $20,000. Certainly, even the less expensive electric boom lifts usually cost thousands of dollars. Other variations of equipment have comparable price tags, although some may cost more or less.
Finding Equipment: What To Rent
After you’ve decided to rent equipment, you’ll probably want to be careful about what you rent. You don’t want to rent equipment that won’t be used for the long term, as many leasing agreements will require you to rent the equipment for a certain amount of time. Think about your target client before renting equipment. It may, for example, be a good idea to rent an electric boom lift, which is used widely. In 2011, it was reported that the most important categories were crawler dozers, crawler excavators, aerial work platforms, and wheel loaders. However, these are not by any means the only types of equipment you want to target. If you believe that your clients may be based more in the agriculture industry, you can probably expect a telescopic handler, otherwise known as a telehandler. Think about renting the necessary attachments as well. Some of the attachments associated with a telehandler include pallet forks. Pallet forks are used to move loads to and from locations unreachable for a conventional forklift.
Moving Forward: Deciding On Your Market
Perhaps the most important thing to keep in mind when renting equipment is your market. You should think about who your primary clients will be. Your target audience may be based in the agricultural industry, or the roofing industry. They may even want to build commercial buildings. Knowing this ahead of time will save you both time and money.