Hiring Vs. Buying: Which Is Right for Your Business?May 15, 2014
To buy or not to buy – that is the question facing many businesses when it comes to getting hold of floor cleaning equipment. It is not going to be possible to give a definitive answer because it is always going to depend on your exact needs for your business.
In this post, the aim is to provide you with some balanced information, so you can make an informed choice.
Good Reasons to Buy Floor Cleaning Equipment
If you use floor cleaning equipment all the time, and this is likely to continue long-term, you probably will be better off buying your own flooring equipment. In order to more accurately determine if this is going to be your best choice, you need to properly assess your businesses finances and ensure that a) you have the capital to spend on the equipment and b) the regularity of its use would make hiring a more expensive option.
One of the benefits of owning your own cleaning equipment is, primarily, that it is going to be a business asset. You can rent equipment for years, but it is never going to be something you own. There is a sense of pride about owning this type of asset, and it sends out a signal that your business is financially strong enough to be able to do this.
When you buy your own floor cleaning equipment, you can do what you want with it – it is yours to modify, maintain and sell on later down the line. The problem with renting is that you won’t have this same level of freedom.
Good Reasons to Rent Floor Cleaning Equipment
Buying floor cleaning equipment is only cost-effective for your business if you are going to be getting enough use out of it. This might be something you only need short-term, or every now and again, and in this situation it makes better financial sense to rent.
If your business doesn’t have enough spare capital, it can be a mistake locking this up in this type of purchase, causing your business to struggle in other areas and potentially hindering expansion. If you don’t have a lot of cash assets, then renting can be an excellent short term solution.
You get the equipment you need without having to lay day a large sum, which is especially beneficial if the usage of this equipment is likely to be sporadic.
One of the key benefits of renting floor cleaning equipment is that you can regularly update to the latest models without it costing you any money – you simply change what you rent, without the need to sell your existing equipment.
As you can see, you do need to think carefully about your needs if you want to make the right decision about buying or renting floor cleaning equipment. The team here at J & J Services is going to be able to provide you with both options, and we’ll be happy to offer you any assistance you need to come to the right decision.
Call us now (or use our email contact form) and we’ll provide you with the right floor cleaning equipment for your business.This entry was posted in Hire / Rent and tagged J&J Services. Bookmark the permalink.