Renting equipment is an increasingly popular trend. Evidence of the equipment rental boom is found in expanding peer-to-peer rental companies. In areas including construction, agriculture, landscaping and technical trades, renting equipment is growing as an appealing option for business owners and workers who receive the benefits of machine use without having to make the commitment of buying and owning.
1. Cheaper Than Buying
This is an obvious one, but it’s worth mentioning. You won’t always have the money to make an outright purchase of every machine you’ll ever need. And some equipment you need only for a small percentage of your time on a job site, hardly justifying the cost of a full purchase.
Renting lets you have the right equipment when you need it at prices you can afford.
You can lease farmland, too, and it’s a great way to get started.
2. Keeps Things Simple
When renting equipment, you don’t have to worry about maintenance. You don’t have to worry about storage. You don’t have to worry about licensing fees, property taxes or many forms of insurance. There’s less paperwork and fewer records to keep.
Ultimately, renting equipment simplifies expenses, lowers overhead costs and gives you greater peace of mind.
3. Emergency Options
Machines usually do not warn us when they will break down, yet when they do, deadlines stay the same. Renting equipment helps you cover for unexpected breakdowns, or when other unexpected needs arise.
4. Flexibility
There are many machines available to rent from many rental businesses. Having so many options for renting equipment gives you the flexibility to find the ideal tool for each project you undertake.
Having the right tools is important, but so is keeping them organized.
5. Up-to-date Equipment
Most dealers keep their rental inventory up to date with modern machines, because they know newer equipment brings more business than do rusty antiques. When renting contemporary equipment, you needn’t spend beyond your means to buy a machine that could quickly become outdated and obsolete.
6. Test-drive Before Buying
Dealers selling equipment should always allow for comprehensive inspections, but you might want more time with a machine before committing to a purchase. Renting lets you get a feel for what it’s like to use the equipment on the job, helping you make informed purchases later.
7. Boost Your Business
With access to equipment rentals, you can take jobs that you otherwise would be forced to turn down without having the proper machines.
This article originally appeared in the September/October 2019 issue of Hobby Farms magazine.
