The construction business is one of the pillars of the world’s economy. But despite being such a lucrative job, a contractor’s work and responsibilities are not easy. They oversee everything that’s going on – from the biggest to smallest detail of every project. And to add more complications to their tasks, they also need to decide on how they spend money on equipment. Do they go for buying machines like cranes or just get a crane rental? If you’re hoping to join their ranks soon, you should know the highs and lows of the business.
The advantages of buying equipment
Regardless of the nature, businesses all share the same goal: profits. And as a contractor, your job is to make money by finishing a project on time and within the budget set by clients. Therefore it makes sense to invest in every piece of machinery that you’re going to use.
And so we shed light on whether buying equipment is more profitable than going to crane rental companies. Here are the advantages of owning your own machines:
1. Unlike selling products, the price of services depends on the amount of work to be done and how fast it’s finished. Contractors who have their own equipment can do work faster thus they get paid immediately.
2. No lining up for available machine rentals. There are many contractors out there and chances are most of them rely on crane rentals which means you can’t accept rush jobs.
3. Work instantly. To cut down overhead costs, most if not all contractors want to speed up the pace of workers but they won’t be able to do that without the necessary tools.
Disadvantages of owning equipment
Machines need to be taken care of in order to extend its life and its potential for earning more money. If you want to own machines and equipment you have to be ready to spend on maintenance. And it’s one of the biggest drawbacks of having your own machinery. Even without projects, you need to keep them in good condition and it will cost you money you haven’t earned yet.
Machines used for crane rental require special skills and you need to hire somebody to operate yours if you decide to buy them. And just like investing on maintenance, you also need to have a crew ready to go once you get a project.
Why Getting Crane Rental is Better
Getting a crane rental eliminates the need for expensive machine maintenance and you don’t have to pay salaries to workers to operate them. Rental companies can provide you with professional machine operators and drivers that you don’t have to pay because it comes with the rent. It’s certainly a better way to make more profits and getting the job done right.