Forklift trucks are a huge operational tool for tens of thousands of companies, businesses and firms around the UK, that would simply not be able to operate without their trusty fleet of forklifts, hurrying around, moving pallets, goods and other essentials to the places that they need to be.
Since their invention in the early part of the 20th century, the use of forklift trucks has rapidly increased, mainly due to the fact that more and more businesses now need them, but also due to the fact that there is more choice these days, with options and types that can cater to any requirements. Whether that’s a low budget option, or something that needs to reach higher than most, you can find a forklift truck that is suitable for what you need, and what your business needs.
The issue for most businesses, and the big question that many ask, is should they buy their forklift trucks and own them outright, or would it be better for them to rent them? If you also have the very same question, have no fear, we spoke to Grant Handling, a UK wide company with many locally based depots about just what is the right answer.
The answer, as you expect, is going to depend on your business and your requirements when it comes to a forklift, as for some, buying is better, and for others, rental is the way to go, so you firstly need to understand your ongoing requirements when it comes to a forklift truck, and then make your decision accordingly.
However, the key reasons to buy and invest in a forklift truck would be centred around usage. For example, if you use forklift trucks all day, every day, then renting them in on a long-term basis is generally not cost effective. When you use something a lot, it makes more sense to own them, as not only is it cheaper long term, but they are a company asset and therefore play a role in your overall finances and accounts. Having to hire something on a long-term basis will generally be more expensive than just buying one, or at least owning one outright, as not only do you save on rental costs, but as we say, assets are good for any business to have.
The other things to seriously consider would be availability. If you need a forklift truck but the hire company do not have any to meet your requirements, or they cannot supply it for a few days, then this could leave your whole operation in serious trouble. But, if you owned your own, then it really should never be a problem, as they will always be onsite and ready to work, meaning that your business should never stall because of not having the right equipment, especially when it comes to forklift trucks.
On the other hand, if your business only needs forklift trucks every so often, or at best infrequently, then hiring could be the way to go. This way you can have what you want, when you need it, and of course you do not have the worry of having to keep them serviced and in good order, as the hire company will do this for you, which can save money as well. There is no point owning one that you might use 4 times a year, as you need to keep this type of machinery operational to make sure it does not stop working correctly.
There is also a case to hire if your needs change. This might be locational, where your use depends on where you are working, or it might be operational, with respect to needing a different type of forklift truck due to height, weight or another variable factor.
So, the decision of whether to buy or hire, should really be based on your operational needs, more so than any other factor.
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