To buy a forklift, or to hire a forklift? That is the question on the minds of logistics owners, business owners, and warehouse owners across Melbourne. With many different pros and cons for each, it is a question that should be discussed at length, and a decision that shouldn’t be taken lightly.
Forklifts are amazing inventions that allow people to move large boxes, and heavy stock items, without risk of injury from heavy lifting. Unlike a trolley jack, forklifts can quickly and easily move large amounts of weight around, stack products easily, load pallets on and off trucks, and help organise stock on higher platforms. But the question remains, is it better to buy a forklift, or to hire one from a forklift hire Melbourne based company? Either way there are pros and cons that should be considered when making such a big financial decision. Let’s discuss some of the benefits and disadvantages of renting, or buying a forklift for your business.
Buying a Forklift
The benefits of buying a forklift outright depend greatly on the type of business you run, how much profit you make, and what your long-term goals are. Below are just a few advantages of owning your own forklift:
· Work When You Want
– If you own your forklift, you have access to it anytime and anywhere. Time restrictions won’t apply, so you’re more likely to finish jobs on schedule.
· No Lock-in contracts or Monthly Fees
– The cost of the forklift will pay for itself over time, as you will save on monthly rental costs and operator costs. If the dynamics of your business change, you won’t be locked into a contract, paying for a machine that isn’t being used.
· Perfect For Business and Remote Areas
– Some hire companies won’t be able to provide your business with a forklift if you live out of town, or too far from their business base. Owning your own forklift ensures you have the access to it, no matter how rural your business is.
Renting a Forklift
Not everyone has a spare $10,000 to $40,000 to shell out on the latest model forklift, and this is where the advantages of renting one come in:
· Affordable Rates
– Forklift rental companies offer affordable and competitive rates to suit the needs and budget of your business.
· Regular Fleet Maintenance
– The forklift company you hire from are required to do regular mechanical inspections, services, and safety checks on their entire fleet. This ensures that the forklift and equipment you hire is in the best working order possible, and adheres to all safety requirements.
· Breakdown Services
– When things go wrong with hired machinery (and sometimes it does), it is the responsibility of the forklift rental company to fix it, and provide you with another one on site. The cost of expensive repairs won’t fall on your business, and work can continue as planned. Owning a forklift means if something goes wrong, work will have to stop until the forklift can be repaired properly.
· Short and long-term plans
– Not everyone has a clear insight into their business’ future, or their need for a forklift ongoing. Short term rental plans are perfect if you’re not sure how necessary a forklift will be to your business, or want to test out your options.
– Long-term agreements work great for businesses who have a continuous need for a forklift. Plans can be tailored to suit your individual company requirements, and can take the stress out of keeping on top of weekly or monthly bills.
A short-term or long-term plan guarantees that your company has access to a forklift in full working order, for the duration of the lease.
· Machinery Upgrades
– One of the great things about renting a forklift, is the option to upgrade to newer models as they are released. You will also have access to a complete range of other useful mechanical equipment and machinery to support the growth of your business.
Still unsure of whether to buy or rent a forklift for your business? There are pros and cons to each option, and the decision you make should be made in accordance with your overall budget, and how necessary a forklift is in the smooth running of your business. The best thing to do is contact a forklift hire company today. Speaking to a qualified consultant about the dynamics of your company, your intended goals, and your concerns over the two options, can help guide you to make the right choice. Before you splash out $10,000+ on buying your own forklift, or sign your name on a contract to rent, look at all of your options to decide what’s right for your growing business.