When Renting Forklifts Makes Sense
When outfitting your operation with expensive machinery such as forklifts, there are times and circumstances when renting instead of purchasing just makes good business sense.
Some of the benefits associated with renting are:
- Maintenance is bundled in with your monthly rental costs
- Flexibility with machinery options and the ability to change machinery as needs change
- Less expenses upfront
- Ability to test different types of forklift models without a commitment to purchase
Maintenance is Included
When you own a machine, you’re on the hook for all the repairs and maintenance needs that arise. With Morrison rental equipment, normal maintenance is included in the rental fee which means when needs for service arise, we take care of it. For businesses that prefer not to deal with the costs and scheduling of maintenance and repairs for their material handling equipment, renting is the perfect solution.
Preventative maintenance is also supplied by Morrison and we will schedule a technician to perform this on a regular basis. Be sure to ask about maintenance scheduling requirements and the built-in costs while working out your rental agreement.
Flexibility with Machinery Options
Flexibility is a huge reason why many operations rent forklifts versus owning them. There are times when the needs of the operation may change. For example, a temporary increase in production may require additional equipment; or you find that you need a forklift that can reach higher racking. With renting, you are able to change out the equipment to fit your specific needs easily. Operations that perform a variety of different tasks often find renting to be a convenient option as the needs of their business change frequently and their machines must follow suit.
Less Expense Upfront
Another major draw to renting forklifts is the lower cost required upfront. Purchasing a forklift can cost tens of thousands of dollars, while renting spreads those costs over a period of time, typically on a monthly basis. This allows you to more easily budget for the forklift during the time that you need it, versus having to come up with a lump sum of cash to pay for it all at once.
Ability to Test Different Forklifts
Forklifts, like cars, come in all different shapes, sizes, and colors. Every brand has a different style, different features, and different capabilities that you may find important or unimportant based on your particular needs. You might find that after a few test-drives, you prefer certain features of one forklift over another; or you could find that one type of machine is just not the right fit for your type of work. This is where renting is really beneficial; you aren’t tied to that machine forever! You have the option of turning in the machine at any time. This allows you to get into a machine that you will really like operating and saves you the hassle of trying to sell a machine and prevent any monetary losses caused by depreciation.
What to Consider When Renting
With all of that being said, let’s make sure renting material handling equipment is a good fit for your business.
Some things to consider:
- What is your accident rate?
- How many hours do you intend to drive the machines?
- How much do you have to spend in your budget on a forklift and maintenance per month?
- What kind of physical wear do you anticipate being done on your machines?
If you have a high rate of accidents, you drive a lot of hours, or you anticipate a lot of physical wear to your machines, then renting might not be a good option for you. Conversely, if you have trained operators who rarely get into accidents and the number of hours you operate your machines are reasonable for normal wear and tear, then renting could be your most cost-effective and convenient option.
Speaking with your local Morrison branch about the above points and outlining your needs can help us help you to assess whether renting is your most viable and cost-effective option. Renting should not be overlooked; it works for many people and it could be your best option in keeping your costs low and your operation running smoothly.