Tool and plant hire is a long-established practice. If you provide construction services, you already know that projects often require an array of specialised equipment. Having the right tools and machinery for the project at hand is vital.
While owning equipment certainly has its benefits, there are also several downsides. For one, you need a secure and appropriate location where you can store everything. For another, you are responsible for maintenance and repair. You’ll also need to replace broken or outdated machinery and tools yourself. By hiring equipment, you can often save money, time and valuable resources. Here are some of the reasons you might want to consider plant hire rather than owning tools and machinery.
Value for money
One of the main reasons for choosing plant hire versus owning equipment outright is cost-effectiveness. Major purchases of plant equipment can have a tremendous impact on your cash flow, potentially putting your business in the red for a significant period of time. This might be worthwhile for equipment that’s in continuous use but if you only need a piece of equipment from time to time, it’s often far more realistic to hire it. Instead of an exorbitant one-off payment or hefty hire-purchase fees, you only pay for the equipment when you actually need it and can turn a profit from it. According to Miles Hire, a local independent Welsh business, if you hire plant, you are more likely hiring higher spec equipment, which would be more expensive to buy outright.
Decreased storage needs
By renting plant equipment you’ll also avoid the headaches that come with finding a permanent location for bulky equipment and large vehicles. Finding cost-effective locations where you can lock up your machinery and tools can be a major challenge, especially in urban locations where space is at a premium. Security is also an issue; plant equipment is a tempting target for thieves due to its high value. Equipment worth tens of millions of pounds is stolen every year in London alone. Even if you avoid becoming a victim of theft, the costs of good security and insurance can be very steep.
If you rely on machinery and tools that you own outright, you’re stuck with a limited range that may not include the best equipment for the task at hand. This leaves you and your staff trying to accomplish the work that needs to be done in sub-optimal circumstances. Work may take longer than it needs to and the quality of the finished project may not be up to your desired standards. With plant and tool hire, you can select exactly the right equipment for each specific job.
All equipment needs to be properly maintained in order to keep it working at maximum efficiency. Tools and machinery that are not properly maintained can impair the quality of your finished work, slow down your projects or break down altogether. In some cases, poor maintenance can even lead to safety hazards and serious injuries. Yet maintenance can be a big drain on your firm’s resources, taking time and energy away from your main function as a construction company. By hiring your equipment from a reputable provider, you can be sure that everything is in perfect condition. It’s a core part of any hire company’s business to inspect, clean, and repair every item of equipment so it’s in proper condition for the next user. Plant hire companies are also in a position to keep staff with specialised maintenance and repair skills on their teams — something that’s not always possible for construction firms.
Depreciation in value
When you purchase a piece of equipment, it immediately starts to decline in value. The longer you own and use it, the less it’s worth. Factor in the cost of storage and repairs, and your equipment can effectively become a net drain on your finances. When you rent your equipment, deprecation isn’t a problem. You only have the items in your possession for as long as you need them, before returning everything to the hire company.
Clearly, it’s always best to use the highest quality tools and machinery available. Unfortunately, quality isn’t cheap. By hiring instead of buying, you can make sure that all your equipment is the best quality and the latest model.
You can hire plant equipment for as long or as short a period as you want, whether it’s just for a day or two or for several months. Plant and tool hire is an efficient, cost effective and convenient solution to all your equipment needs.
Shirley Mist has been involved in fashion and design for many years. She has also written extensively for many online publications. She currently writes for The Tribune World and is a valued member of our team.