By Jo Bailey
There are many reasons why hiring tools and equipment rather than buying is a great option for businesses from small enterprises through to large multi-national organisations, says Phil Tindle, HIANZ CEO.
“Hirers can access quality, reliable equipment with the latest technology without having to make a capital investment upfront. The benefits are obviously even greater with some of the larger more expensive equipment, as it frees up cashflow to be used for core business activities instead.”
Hiring leads to additional cost savings including registration fees, storage, maintenance and repairs, which are all part of owning expensive tools or equipment.
“The tax savings can also be significant. Any capital purchase goes straight onto the balance sheet and depreciated over time, whereas hiring equipment is 100 percent tax deductible.”
Flexibility is also an advantage, giving businesses the opportunity to hire specialist gear only when they need it rather than making it part of their regular fleet.
“Sometimes businesses have their own equipment but during busy times might need extra gear to keep up with work demands. It makes sense to hire rather than invest in new gear that has to be stored and maintained, and that may only be needed for a set time period. Hiring is so convenient. Customers simply pick the gear up, and deliver it back when the job is done.”
The ability to access the latest technology is another plus, says Phil.
“Technology is advancing at such a rate these days that hiring, rather than buying, allows customers to keep ahead of the pack. Reputable hire companies are continually reinvesting and upgrading their fleet to ensure they are offering the latest equipment with the newest technology.”
He says, anyone hiring equipment should expect it to be clean, serviced, reliable and fit for purpose.
“Hire companies’ customer service teams can offer expert advice on the right equipment for the job. This is particularly important when it comes to specialist equipment that with the right advice, may help improve on job productivity and financial efficiencies.”
With no time-consuming servicing or maintenance to worry about, hired gear provides savings in time as well as costs.
“Hire companies take these hassles away and help to avoid potential delays on the worksite, which is critical in today’s market,” says Phil.
Hiring also provides companies with a ‘try before they buy’ opportunity as they can test a brand and model they are interested in without any obligation to purchase. During the hire period customers can get a feel for the frequency in which they use the equipment, its versatility and productivity, before making the all important decision whether or not to make a capital purchase.
“Whether customers are supplementing their existing fleet during peak periods, sourcing specialist equipment, or trying something new before making the decision whether to invest or not, hiring equipment from a HIANZ member is an easy, cost-effective solution,” says Phil.