Plant hire companies rent out heavy machines such as forklifts, excavators, and cranes to businesses that don't own such machines or are looking to scale up their operations. Construction contractors are one of the biggest users of plant hire services, with good reason. Hiring out heavy construction equipment brings various benefits to construction businesses.
Take a look at some of those benefits below.
1. Reduces Investment in Capital Equipment
Purchasing construction machinery requires a huge initial capital outlay. When a company commits a large sum of money to the acquisition of used or new equipment, this could have a significant impact on the working capital available.
Less working capital means the company will have less cash at hand to meet its daily operating costs. This will affect the smooth running of the business. By offering their construction machinery for rental use, plant hire businesses help other businesses avoid the upfront costs associated with acquiring capital equipment.
2. Provides Access to the Newest Fleet on the Construction Market
Plant hire companies are constantly upgrading their fleets to keep pace with the changing demands of the industries they serve. Contractors that partner with these companies have an opportunity to use construction equipment that's equipped with the latest technology.
In case equipment renters don't know how to operate advanced construction equipment, they can always wet hire — that is, hire the equipment they need together with the complementary personnel required to operate it properly and safely.
3. Facilitates On-Demand Delivery of Construction Equipment
The process of purchasing construction machinery can be long and exhausting to go through. Where there's a need to quickly scale up a construction business for the peak season, acquiring additional equipment may not be a smart move.
By hiring the extra units of equipment that they need from a plant hire company, construction contractors can scale up their business more easily and affordably.
4. Eliminates the Need to Maintain Construction Equipment
Because they don't own the equipment that they use, construction equipment users aren't responsible for maintaining the equipment.
However, they're responsible for ensuring they use and return rented equipment in the same condition they received it. Otherwise, they'll be held liable for any damage caused to the equipment while under their care.
Do you need to hire construction equipment for your next job? Talk to a plant hire company near you to find out the various solutions they have to offer.