Whether you run a construction company or are carrying out a building or landscaping project, choosing the most cost-effective option for your plant machinery and tool hire needs is key. Hiring construction equipment instead of buying them has become an extremely common practice for a variety of reasons. One of the key contributors to this shift is the fact that the construction industry is quite dynamic with many things influencing the market.
This unpredictable market has forced companies to find ways to protect themselves from any downturns that may arise, and tool hire instead of buying outright is one of them. To get a better understanding of how the entire process works, we spoke to Miles Hire, a South Wales tool hire company with over 20 years of experience in supplying construction sites with all the equipment they need.
Below we look at their top 5 benefits of tool hire:
The biggest benefit to hiring plant machinery is it saves you money in so many ways. For starters, new equipment, especially the large ones like an excavator or a tracked dozer, don’t come cheap. Some of them can set you back thousands of pounds. By hiring, you can avoid this hefty initial investment and only incur a fraction of it. Also, not having a large sum of your capital tied up in a piece of equipment frees up your funds, allowing you to pursue other opportunities and allocate money to other important expenses.
The cost of owning machinery doesn’t just end with the initial investment. The value of these pieces of equipment usually plummets the second you pay for them. This means you will incur considerable depreciation costs over time. Don’t forget the costs you will incur for repairs, maintenance, disposal, and even insurance. These are all things you don’t need to worry about as the hiring company will take care of them.
Plant hire companies offer various hiring plans, which allow customers to choose one that best suits their needs and budget.
A Wide Selection of High-Quality Equipment
Plant machinery is available in a range of different types and sizes with each one suitable for a different task. When completing a construction, building, or landscaping project, chances are you’ll need a range of different tools that you probably cannot afford to buy yourself. Plus, once you’re done with the job, they become obsolete.
With hiring, you have the advantage of choosing from a wide selection of options and get the right tool for your project. The rental market is quite competitive, pushing such companies to offer not only high-quality machinery. These pieces of equipment also feature the latest built-in technology that drives performance and helps users manage projects more efficiently and are also compliant with emissions regulations. Additionally, they usually have the latest in safety technology, thus reducing work-related injuries that are common at construction sites.
No Storage or Transportation Hassles
With owning plant machinery, you must have storage solutions to prevent your equipment from being stolen and keep them from the elements that could cause rapid wear and tear. The more tools you own, the more storage space you’ll need. Storage costs can quickly add up if you own a construction company, not to mention there are also securing and monitoring costs that accompany storing valuable construction tools.
You will also need to transport the equipment to the construction site. This can be especially challenging if you run a construction business as you will need to transport tools from site to site. In addition to transportation costs, some delays may occur during transportation that could affect your job scheduling.
With hiring, tools are delivered when and where they need to be used and sent back once you’re done with them. This will save you the time needed to plan out such logistics, as well as the cost associated.
If you’re carrying out a landscaping or building project, buying construction equipment may not be a viable option as you won’t need them afterward. Construction companies, on the other hand, typically undertake several projects at once that require multiple tools. Renting ensures you get the flexibility you need by offering only what you need for your specific project and even allowing you to replace tools with something more suitable to the job’s requirements.
Secondly, construction work often comes with unexpected hurdles. Emergencies such as equipment failure, unforeseen work that needs more/new equipment, cancelled contracts, and more, can affect productivity and cause costs to rise. With tool hire, you always have solutions to all possible emergencies.
There are a lot of requirements for owning heavy-duty equipment, including registrations, emissions standards, LOLER or PUWER standards, and more. Managing compliance can be costly and time-consuming. And, if you are negligent in this part, you could get into serious legal troubles that could delay the completion of your project and cost you hefty fines. Plus, meeting the regulations and standards of the industry improves workplace safety. With tool hire, you can count on the rental company to make sure tools meet all the right standards.
All the above reasons make renting a great choice for individuals, industries, as well as construction companies. Be sure to partner with the right rental company though, to ensure the best possible solutions for your construction project. We would also like to point out that although this text outlines the benefits of renting, it’s not always the optimal solution for all individuals/companies. Additional logistical and financial planning is needed so you know what works best for you.