Phoenix Compactors and Balers offer a full range of new and fully refurbished waste balers and compactors for sale, along with a variety of equipment for rent. If you’re considering renting commercial equipment we’ve put together a few reasons below.
For many businesses, it is helpful to have the option of renting commercial equipment rather than having to always purchase it outright. There are of course disadvantages associated with either option, but for the purpose of this particular blog we will be taking a closer look at some of the positive things that can be gained by businesses who opt to rent their equipment.
MINIMISE YOUR EXPENDITURE
There is generally no capital outlay required when you rent out equipment and this can be a real lifesaver for many businesses, but in particular for small businesses and start-ups who tend to be working with limited funds.
Many businesses have real difficulty handling and keeping tabs on their cash flow so the option to rent is a breath of fresh air, reducing the amount of funds a business needs to get their hands on in order to get hold of essential equipment when it is needed.
When renting any machinery or equipment the costs are easy to budget for well in advance as you know exactly what you will be paying out each month for the equipment you need. This makes your cash flow easier to predict whilst giving you peace of mind by spreading the cost out evenly over an extended period of time.
A TAX DEDUCTIBLE BUSINESS EXPENSE
Any expense you incur renting out the equipment you need to make your business run efficiently should count as a tax deductible business expense when you file your tax returns, reducing the long-term net cost of the rental.
UP TO DATE EQUIPMENT
Renting the latest equipment enables businesses to keep up with their competitors, accessing essential machinery that may otherwise have been completely unaffordable. When renting you are never left with obsolete machinery that is out of date, or machinery that has depreciated in value since you purchased it. Instead you have continued access to new equipment which gives you added flexibility as your business develops and your needs change.
At times there may be an additional demand for a piece of equipment for a set time-frame, i.e. for the duration of a fixed term contract. Renting can fill this gap conveniently and efficiently for the period of time the equipment is required.
DOES RENTING MAKE SENSE?
Ultimately you will always pay more in the long run when you opt to rent out the equipment you need for your business rather than buy it; however there are numerous benefits to renting.
For some it is chosen as the most affordable option whilst many other business owners choose to rent rather than buy in order to access all of the useful benefits that are associated with doing so.
If you are looking for ways to minimise your outgoing costs whilst you build your business and increase your revenue it is an option that is well worth some consideration.
Give us a call or drop us a line via if you would like to find out more about renting items from the Phoenix Compactors & Balers range of equipment.