How Renting Equipment Can Reduce Labor Expenses
Labor expenses are among the greatest costs for most companies operating today, especially in industries where the output consists entirely of tangible results. For construction companies, renting equipment may be the answer if you want to manage your labor expenses without sacrificing quality or productivity. For more information on available Cat® rentals near you, contact The Cat Rental Store today!
10 Reasons Why Renting Equipment Is Cost-Effective
Whether you operate a small business or a large corporation, you want to keep costs in check. By renting, you can:
1. Lower Maintenance and Care Costs
One of the biggest reasons to rent equipment instead of buying includes the savings associated with upkeep. You must pay for insurance and servicing costs when you own equipment, which can add up quickly. However, when you choose to rent, your rental company will absorb these costs so you can enjoy the benefits of the latest products without the expense of upkeep.
2. Perform the Job of Several Manual Laborers
When manual labor is challenging to find or expensive, renting equipment can provide an effective way to:
- Lessen personnel training requirements
- Accomplish more tasks in less time
- Keep fewer people on the payroll
- Lower the amount spent on benefits like health insurance
3. Get the Latest Equipment on the Market
Renting equipment gives you access to the latest models and technology at a fraction of the cost of ownership. Rentals allow you to compare different types of equipment, see which ones meet your requirements better than others and easily exchange pieces as needed. You can also test out new technology before investing in it, which is especially useful if you have a small budget but want to stay on top of the latest trends in your industry.
4. Scale as Needed
If you have a big job coming up, you can rent enough equipment for the short term and then return it when you complete the assignment. Instead of hiring and training extra people during busy periods, you can rent equipment to meet peak demand without overworking your employees or incurring other high costs.
5. Focus on Your Core Business
Whether running a startup or an established enterprise, you want to focus on your core business. Instead of managing equipment inventories, organizing maintenance schedules and hiring technicians for repairs, you can rent the necessary equipment to accommodate any need that arises.
6. Avoid Financing Interest
Renting equipment can reduce your company's overall financial risk and cost by allowing you to pay for the equipment as needed rather than making a significant upfront payment. Without needing to finance or pay interest charges on a loan, your business will have more flexibility in its budgeting.
7. Have Equipment Delivered on Your Behalf
Hauling large loads complicates transportation, storage and compliance. Fortunately, your local Cat dealer will have delivery options to streamline this process. If you choose to have your equipment delivered directly to your site, you can reduce time spent on logistics and ensure that employees can focus on working with their equipment rather than finding a way to transport it. Delivery options vary by location and rental type, so ask your local dealer about what is available near you.
8. Reduce Training Effort
Training new employees takes time and money, making it critical for companies to reduce training costs wherever possible. When you outsource your equipment needs, you leave the maintenance in the hands of experienced professionals who know that equipment well. Plus, since you'll be renting newer machinery, your team will benefit from advances in intuitive design and ease of use.
9. Rent for Specific Needs
If your company needs specialized equipment for a short time, renting is an excellent option. Most companies do not need forklifts, large cranes or other heavy machinery on a regular basis. Renting these items can help you avoid the cost of purchasing them and then storing them when they aren't in use.
10. Receive Fast Support
Instead of spending valuable hours troubleshooting any issues, you can minimize downtime by consulting your rental company for immediate assistance. Your Cat dealer will provide comprehensive support so you can access the information you need any time of day or night. With local experts on call, you'll have the answers immediately instead of navigating technical issues that your team may not know how to fix.
Find The Cat® Rental Store Near You
At The Cat Rental Store, we know the importance of having the equipment to do the job right. That's why we've created a rental program that provides our customers flexible, convenient options. Find your next rental today by reaching out to your local Cat dealer.
