Whether to buy or rent heavy-duty equipment is an issue construction companies of all sizes must consider. From local builders to businesses with offices in multiple locations, purchasing construction equipment is a big investment that can affect many aspects of an operation. Companies today have the benefit of renting all the equipment they need for a job site. Slaymaker Rentals and Supply Company specializes in a variety of equipment for commercial and residential construction tasks. Their rental inventory includes everything from backhoes for use in residential lots to excavators for commercial building projects.
Buying Construction Equipment Is a Major Investment
The financial impact of a purchase is often the deciding factor of whether a contractor decides to buy or rent equipment. New equipment can be very costly and could affect a company’s flexibility when making other important business decisions. Construction contractors that are just starting out often do not have the cash on hand for major purchases. Renting machinery gives new business owners access to the equipment they need while still allowing them to maintain a sufficient cash flow.
Consider Equipment Utilization Rate
Even companies that have the capital for new equipment purchases may be better off renting instead. Some types of construction equipment will only be needed for a small portion of projects. Factoring the utilization rate of a specific piece of machinery is helpful when considering a new purchase. In general, when equipment is used less than 40 percent of the time, renting is usually the better option.
Rental Equipment for Small Projects
How long it takes to complete a construction task can also influence the decision to buy or rent. While buying equipment for a six-month construction project might be the best business choice, purchasing expensive machinery for a two-week job generally isn’t a wise decision. For shorter or infrequent construction projects, Slaymaker Rentals and Supply Company can provide contractors all the equipment they need on a short-term basis.
Slaymaker’s is a family-owned business offering an attractive inventory of construction equipment available for long or short-term rental. In addition to rentals, they specialize in the sale and repair of electric motors, generators, converters, pumps, and drives. Contact Slaymaker Group for more details on all of their products and services available to customers.
