In the past, people rented when they couldn’t afford to buy.
Nowadays, renting has shrugged off its negative connotation and more and more people are realising that the benefits go way beyond the issue of affordability. Both renting and buying have their merits - and it pays to be well informed on each option so you can choose what’s best for you or your business.
By way of illustration, this article takes a look at hiring and renting concrete grinders - a popular piece of equipment used in both domestic and commercial situations for removing glues, coatings, membranes, high spots and even graffiti and to prepare concrete for new floor coverings and paints.
Renting means no large upfront outlay so working capital can be deployed more usefully elsewhere in the business. It’s a more cost-effective option, whereas buying can be more expensive in the long-run, especially when equipment lies idle.
RIGHT EQUIPMENT FOR THE JOB.
If you buy a concrete grinder, you’ll probably be forced to use it for projects that it’s not ideally suited for simply because you own it and the equipment is on site. If you rent one, you’ll be renting the right equipment for the job so you’ll get better results. With concrete equipment hire, you get the benefit of the versatility of choosing different machines for different job requirements, such as a hand-held grinder for a smaller residential project and a heavy-duty one for a large commercial one.
With renting, you basically outsource all the maintenance and inevitable repairs to the concrete equipment hire company, freeing up your valuable time (and money).
ACCESS TO LATEST TECHNOLOGY.
Buying equipment can put you at risk of having outdated equipment whereas renting enables access to the latest technology and allows for upgrades to new and improved models when they come to market.
When you rent a concrete grinder, you have to the opportunity to trial the product for a relatively low fee without committing to purchasing it. This allows you to see how often you use the equipment, whether it’s fit for purpose and what benefits it delivers - all of which are important considerations if you are thinking of buying one.
Obviously, machine selection will vary depending on the nature of the project, the area that needs to be prepared, access and available power and all of those factors need to be taken into consideration when you weigh up the benefits of hiring vs buying.
It’s not a case of ‘one-size-fits-all’ and a professional company will evaluate your needs and match them with the product that is best-suited for that particular application.