My next project is to construct a building, for that I have to wipe out the existing one to clear the space, then I would need an excavator to load out all the debris. For this what should I do? Buy the equipment or hire it? Well, many people come across such a situation, what should they do in order to complete a project? hire the equipment or buy it? Its simple, if you are own a company, in which you have to complete many projects, time by time, then you must go for buying your own equipment, but if the project is not done frequently by you, then hiring it would be a better option.
Benefits of hiring an equipment
If we look into the depth there are several benefits of hiring the equipment to complete a project, instead of buying it, lets discuss few of them:
Cost reduction
If you buy the equipment, it is become costly paying out large amounts, all at once. If you buy it in installments, then there is a risk of early demand. For this reason, you can hire the equipment and get quick access to it, you can use them till you want, and you don’t even need to bear in mind the maintaining cost, this way hiring equipment would be a cost effective option.
Choice in variety
If you buy equipment, you have to pay for it, and then you are stuck with that equipment. There is often a change in models and a high demand, can occur but now you have to use your own equipment, as you cant pay such a huge amount again and again. in this instance, you can’t avail the option of variety, or choosing among many.
Depreciation
Whenever you own an asset, you have to bear in mind the wear and tear cost, it depreciates by time and devalues. But, you can do nothing other than spending money on it’s maintenance, so isn’t it a good option to hire one?
Flexibility
You never know what your future project will be, if you own a certain type of equipment, then you don’t have the flexibility of stepping into a project, which is not of your equipment type.But, if you have hired one, then you can easily hire the other machinery, which is according to the requirement of your upcoming project.
Knowledge
You need to be an expert if you are hiring machinery, your experience must be wide, or else you need an expert’s opinion, or the remaining option is buy at your risk, I think is the worst option among all. So, in hiring the equipment, the factor of risk reduces to almost zero, you will hire the machinery according to the requirement of your project.
Where can you get this?
There is an organisation, Ardent, one of the largest plant hireorganisations in UK, it has a wide range of 7000 machineries, 13 depots, and 287 employees. They provide you with a range of equipment including, excavators, telehandlers, rollers, dumpers, rough terrain forklifts, roto-telehandlers and comprehensive selection of attachments and ancillaries.
