Construction projects are not immune to inflation and the cost of doing business. So, what is a construction company supposed to do to keep that bottom line in check? Conducting a cost benefit analysis for essentials like tools is something you should consider. Can you store the size and scope of the tools and equipment that you need? Can you provide the necessary maintenance to your equipment so that it works the way it was designed? Consider this guide to see if the bottom line for your construction business would be better served by renting instead of purchasing the tools you need to get the job done.
Mid-range excavators can cost $100,000 to $200,000 new for modest models, but an average excavator rental runs only about $1300 a day, with large models running $3000.
While a forklift can weigh between 3,000 and 20,000 pounds, a typical 6,000-pound forklift costs $11,000 and $13,000, whereas its weekly rental is close to $550 a week.
For less than $400 a day, you can rent a 2,000-pound Bobcat skid loader instead of paying between $20,000-$30,000 to own it.
As you can see by just comparing a few cost scenarios, renting construction equipment makes sense. By renting, the fees are usually deductible as business expenses as opposed to owning equipment that begins losing value after its purchase.
With six convenient locations around Texas, Pro Star Rental wants to help you get it done! Offering a wide selection of aerial and earth-moving equipment, as well as smaller items like generators, air compressors, chain saws and sewer augers, we have the tool you need, when you need it. Whether it's for your industrial or commercial jobs, if you need specialized tools, come see us at Pro Star!
By Pro Star Rental 10-11-2022
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