Small Business Grants logo Everything To Know About
Small Business Grants and More

Home About Us Find/ Apply For Grants News/Blog Resources What To Know

The Benefits of Renting Construction Equipment


The Benefits of Renting Construction Equipment

Starting a new business means making decisions that save money until the company can gain traction and sales. One decision to make in the beginning is the benefit of renting construction equipment. When a business is just starting, the employer must think of every factor that can affect the business for it to start successfully.

Less Inventory Space

While the business will naturally evolve, demanding more materials and equipment, you can save on space by not owning any construction equipment until the funds are available. This saves space in your inventory for more essential materials you need for each job.

No Maintenance or Repair Costs

When you rent construction equipment, maintenance and repair costs are no longer an issue for the company. Of course, if you damage the equipment on the job, there could be consequences. Otherwise, the company that you rented from is responsible for all repair costs.

Control Costs

In the beginning, a business may not have the available funds to support buying a whole fleet of new equipment. Renting allows a company to allocate its money in more critical areas and learn how to balance the new budget.

Latest and Most Updated Models

If your business were to buy equipment and drill rigs right away, you might only be able to afford the oldest model. If the business rents, you get a feel for the newer additions and have the chance to experience the equipment before making a more permanent decision.

Equipment Delivery

The construction business will not have to transport the equipment to the jobsite. Instead, the rental company will deliver the fleet for you. This cuts costs on gas, trailers, and other safety measures when traveling with heavy equipment.

Flexibility and Demand

As a business grows and demand for services rises, the company can adjust what type of equipment they need. The business may not need a long-reach drill rig initially, but as more clientele use the company’s services, you have the flexibility to rent the right equipment.

The benefits of renting construction equipment are endless and the most innovative option for new companies trying to join the race in the industry. Renting equipment gives the buying business more experience and flexibility while saving money. Consider renting equipment for the first couple of projects to get a feel for the best fit for the company.

Start Here to See If You Qualify For Business Grants!