Tools and plant machinery: hiring vs buying

When it comes to running a business, one of the most crucial considerations is cost-effectiveness. The decision on whether to hire or buy your tools can have a profound impact on various other aspects of your operations, from safety and productivity - to even the overall sustainability of your business model. In this blog, we’ll talk you through some key things to consider when choosing whether to hire or buy your tools. Keep reading to find out more.

Time and flexibility

Are you working on a one-off project? Do you need a particular piece of equipment for a short period of time? In situations like these, it can make more sense to hire your tools. Why invest in an expensive piece of machinery that will just gather dust in your warehouse? Hiring means you have the flexibility to use the equipment when you need it, without the burden of ownership when you don’t. This flexibility allows you to adapt quickly to different project requirements, enhancing your operation’s efficiency.

Maintenance

Hiring equipment comes with the added advantage of not having to worry about maintenance and servicing. With a reputable tool hire company like ours, the responsibility of ensuring that the equipment is in top shape falls on us. This eliminates the need for you to devote resources to maintenance and repair, freeing up your time and money for other vital aspects of your business. 

Ownership allows for complete control over the equipment, including its maintenance and care. Some businesses may prefer this, as they can ensure the equipment is cared for to their exact standards.

Safety

Safety is a paramount concern in the construction and building industries. The use of poorly maintained machinery can lead to accidents, injuries and even costly downtime. Since hire equipment is regularly serviced and maintained by experts, you can be confident about its safety and reliability.  This ensures not only the safety of your team but also contributes to smoother operations.

Budget

For small companies or those with tight budgets, the decision to hire or buy can have significant financial implications. Purchasing equipment requires a considerable upfront investment and could tie up funds that would be better used elsewhere in your business. Hiring, on the other hand, allows for more flexibility, with costs spread over the duration of each use. This can be a particularly attractive option for businesses looking to manage their cash flow more effectively.

Availability

For companies that need to respond quickly to sudden job demands or emergencies, owning tools ensures that they are available at a moment’s notice. However, when you partner with a quality tool hire company, they can often provide the tools you need for the job, with the added advantage of offering replacements if needed. This means that you can rely on having the tools and machinery you need, when you need them, without having to worry about potential downtime due to equipment failure.

Storage

Buying your own equipment necessitates storage facilities. Large warehouses may provide a suitable solution for some companies, but for businesses operating with limited workspace or out of a small van, this can pose significant challenges. When purchasing your own equipment, you would also need to invest in expenses like CCTV and high-quality locks to keep your storage space secure.

Hiring eliminates the need for long-term storage, as the equipment is returned after the agreed usage period. This not only reduces space but also reduces the risk of theft or damage to idle machinery.

Hiring vs buying tools and equipment: which is best?

When choosing whether to hire or buy tools and equipment, your business should carefully consider factors such as frequency of usage, maintenance and safety. This will allow you to make an informed decision based on the specific needs of your operations. Whether you’re looking to manage costs, avoid maintenance hassles or simply need a reliable source of high-quality tools, hiring can be a smart choice. To learn more about the equipment we have available to hire, please click here.

Don’t let equipment challenges put a hold on your next task

At Tool Chest Hire, we provide a wide range of reliable machinery to ensure the best possible results for your project. With our flexible solutions, you can guarantee you’ll have the exact tools you need when you need them - without having to worry about their quality.  From painting and decorating tools to reliable lift and shift equipment, our competitive selection is thoroughly safety tested between uses. Give our experienced team a call today on 020 8748 7912 to find out more about how we can meet your tool hire needs. We look forward to hearing from you.