As the owner of a small construction business, you likely have had to turn down projects due to not having the right equipment. You may also feel that you will have to limit the contracts you consider based on the fact that larger equipment can be very expensive. If this sounds like your current situation, you should consider the reasons why small business contractors should use equipment rental.
A business with a limited number of equipment options will likely have a limited number of service options as well. If you have access to equipment rental, you can increase your services based on the ability to have the equipment rented and available by the time the contract begins. Though you want to make sure you only expand to services you have the right number of contractors for, you can likely take on much larger projects simply by choosing equipment rental for what you don't already have.
One of the things that can make or break a contract being awarded is the bid amount. Though most construction firms or businesses wanting to hire a construction company understand that going with the lowest bid isn't always the best option, they also understand higher bids will quickly go over budget. If you can rent the equipment instead of purchasing it, you can lower your initial bids and have a better chance of landing the project.
Lower Maintenance Costs
Another reason that you should consider equipment rental is to lower your own maintenance costs. If you are renting, that means that the maintenance falls on the company and not you. When you return the equipment, the rental location will begin the maintenance process to make the equipment ready for the next rental contract. This can save your business a large amount of money, especially on larger projects where maintenance fees could become an issue.
These are just three of the reasons that small business contractors and owners should consider equipment rental as a business option. If you have never used equipment rental, then it's something you need to consider strongly and discuss with a rental company. Make sure to crunch the numbers and ensure the rental company you are using for equipment is going to work for your needs. Also consider making a list of the equipment that will help your services expand and help you gain larger paying contracts. Take that list with you when you visit the rental company to get a price estimate for future use.Share