Manipulation of heavy loads requires one to use lifting equipment such as hoists and winches. Hoists lift loads against gravity, and winches drag heavy loads against horizontal surfaces. Plant operators use both pieces of equipment interchangeably depending on the limits of different machines.
To decide between hiring versus buying construction equipment, here are a few guidelines that should assist in determining.
Guidelines for hiring or choosing lifting equipment
The first factor is to weigh the intensity of the workload that needs the type of equipment. A typical scale used by construction managers is if the machine is used more than 70% of the time, you should consider leasing or buying the equipment. Use the project’s overall plan to determine the approximate then you arrive at a big decision.
Alternatively, if your company constantly lifts machines, then making a purchase is a viable investment. However, sometimes the cost of renting when compared to the total work project is negligible. In that case, renting the machines is so much bett
Consider expenditures related to taxation as they could count up to so much more, especially when buying. When renting, the taxation costs could be traced back to the equipment owner, saving you a buck.
Consider the rate of depreciation if you purchase the equipment you require for a single or two contracts. You might need to dispense off the machines by reselling. The rate of depreciation of certain brands goes higher than others. Consider brands with good market value before purchasing since they tend to earn higher interests during resale.
Another critical aspect that construction managers ought to analyze is the staff’s competence in handling equipment. Whenever you decide to hire out equipment, consider hiring operators with qualifications and an excellent reference to avoid accidents or equipment destruction.
Alternatively, if you’re well conversant with equipment management, you can buy the machines and coordinate the teams altogether. If you are not well versed, hire outside management to take care of such machinery management to avoid mishaps. It might also affect productivity and cost much more when dealing with inexperienced staff.
Another vital factor that is overlooked is the total transportation cost to be incurred. The distance from renting location to site location may be costing you much more fuel than you could have paid out if you purchased lifting machines.
The distance issue is expected when the site is in underdeveloped areas. When equipment sourcing from distant urban centers to undeveloped sites, such transport costs become costly. Calculate how much you’d spend on transportation, then make a reasonable decision.
The issue of transport affects the time wasted that would be used in completing a said contract. Will the transporters stay on the site until the work is complete or leave daily as most machine lenders are company policy? Buying prevails between hiring versus buying lifting equipment.
When hiring versus buying lifting equipment, the most important thing is to ensure the supplier is reputable and intends to provide guidance. Professionals offer overall services. Ensure you’re also dealing with professionals with certified credentials. Finally, always choose safety and quality over convenience.