The construction business is one of the pillars of the world economy. But despite being such a lucrative job, the job and responsibilities of a contractor are not easy. They monitor everything that is happening, from the largest to the smallest detail of each project. And to add more complications to their tasks, they must also decide how to spend the money on the equipment. Are they going to buy machines like cranes or just rent a crane? If you expect to join their ranks soon, you should know the ups and downs of the business.
The advantages of buying equipment
Regardless of nature, all companies share the same goal: profit. And as a contractor, your job is to earn money by completing a project on time and within the budget set by clients. So it makes sense to invest in every piece of machinery that you are going to use.
So we shed light on whether buying equipment is more profitable than going to crane rental companies. These are the advantages of having your own machines:
1. Unlike selling products, the price of services depends on the amount of work to be done and how quickly it is completed. Contractors who have their own equipment can work faster, so they get paid right away.
2. Skip the line for available machine rentals. There are many contractors and most of them are likely to rely on crane rental, which means they cannot accept rush jobs.
3. Work instantly. To lower overall costs, most, if not all, contractors want to speed up the pace of workers, but they won’t be able to do it without the necessary tools.
Disadvantages of owning equipment
Machines must be cared for to extend their useful life and their potential to generate more income. If you want to own machines and equipment, you must be ready to spend on maintenance. And it is one of the biggest drawbacks of having your own machinery. Even without projects, you have to keep them in good condition and it will cost you money that you haven’t earned yet.
The machines used for crane rental require special skills and you must hire someone to operate yours if you decide to buy them. And just like investing in maintenance, you also need to have a team ready to go once you get a project.
Why it is better to rent a crane
Renting a crane eliminates the need for expensive machine maintenance and you don’t have to pay workers wages to operate them. Rental companies can provide you with professional machine operators and drivers that you don’t have to pay for because it comes with your rental. It’s certainly a better way to get more profit and get the job done right.
