A company’s equipment is akin to the nuts and bolts of its business. Without it, innovation and ideas, labour and raw materials cannot achieve its full productive potential. Operations come to a standstill, and a company ultimately cannot provide goods and services to customers that help drive sales revenues. Since equipment delivers these benefits to a company over many years of use, it is classified as a long-term asset. They are tangible and illiquid, and depending on the nature of the business, can range widely from items such as computer hardware and software that cost just a few thousand dollars to multi-million-dollar investments in heavy machinery such as marine vessels or real estate. The upfront costs of owning the equipment are substantial and may appear daunting to any enterprise.
A way to fund a company’s acquisition of essential equipment is taking a loan. A loan allows the business to own an asset with less upfront costs but the unfortunate thing is that equipment loans typically do not cover the full cost of the purchase price. Moreover, a financing loan is not guaranteed and is generally dependent on background checks and credit history of the applicant.
Withstanding all of the above mentioned, equipment rental could well be a very viable and attractive alternative. Equipment rental takes away the high front-loaded cost of acquisition and spreads it over a defined period of time, making it more affordable and faster to procure crucial equipment than saving up or taking a loan. Therefore, renting often improves a company’s cash flow, freeing it up for other more important activities or in some cases, even help to maintain solvency. Furthermore, with the acceleration of technological advancements, the latest equipment may soon be overtaken by newer, better models over a short period of time. Obsolescence is a valid concern when purchasing but one that can be greatly discounted when renting – the latest models can be rented whenever they are developed instead of constantly making costly investments by chasing after the latest models. Likewise, renting also makes it easier to scale and a lot less financially onerous. Maintenance, repairs and even insurance are also often included within the rental fee. Equipment rental not only improves accessibility but also takes away most of the potential worries that an owner faces. Renting is also a good way to have greater flexibility. Depending on the rental company, rental durations can be tailored according to a customer’s needs. Discontinuing the rental is also much easier than selling off equipment when it is no longer needed.
Here are the advantages of Equipment rental that ETHOZ can offer you for your business.
What types of Equipment does ETHOZ rent?
We rent Mobile Elevating Work Platform (MEWP) such as Boom Lift and Scissor Lift, and Material Handling Equipment (MHE) such as Forklift and Reach Truck. Our equipment is sourced from well-established and industry-proven manufacturers.
Flexibility
Some jobs require different types of equipment at different stages of a project. It is uneconomical to purchase an equipment for a particular job and keeping it after completion. This is especially so for the construction and the built environment trade. Rental of equipment gives companies greater flexibility with operational planning and resource allocation of projects. You do not have to worry about finding storage space for the equipment.
Latest range of Equipment
Equipment manufacturers are constantly upgrading to introduce technology and innovation to ensure their products stay relevant to market demands. We are regularly updating and renewing our equipment fleet for our customers to take advantage of safer and more efficient models. ETHOZ understands the importance of staying ahead of the technology curve.
No Equipment disposal loss
Purchasing an equipment will lock yourself with an equipment that you may need to hold for years due to disposal loss potential. This results in companies holding on to their equipment for too long with the risk of technological obsolescence.
Low capital and fixed costs
When you rent an equipment, you do not need to make a large up-front payment which helps your business maintain a healthy cash flow. By having smaller monthly payments, your company has better liquidity, leaving you with more money to fund other important areas of your business. Rental allows you to keep your costs fixed over the period of the hire. This can help you with budget planning and make forecasts more accurately.
Maintenance and repairs
Equipment breaking down and spending unpredictable amount of money to get it fixed is a nightmare for most businesses. The ordering of spare parts, hoping third-party maintenance contractors are price-reasonable and all the related arrangements are extremely time-consuming and costly for companies. ETHOZ will take care of everything for your business such as maintenance and wear-and-tear repairs, eliminating your stress and down-time.
Inspections and regulations
As an owner of an equipment, you are required to maintain the equipment in a good working order. Equipment such as Boom Lift and Scissor Lift must be thoroughly examined by a M.O.M. accredited Authorised Examiner every six months. This is not a straight-forward arrangement. You will need to set up appointments, allocate staff, prepare related documents, testing areas and equipment. Again, all of these hassles will be well taken care of by ETHOZ.
No depreciation
An equipment will depreciate over time and usually experiences extremely steep depreciation during the first three years of ownership. It is possible for a relatively new equipment to break down beyond economical repair, which you may need to sell the equipment below book value, registering a loss. With rental, you do not need to worry about these onerous issues.
Renting your equipment from ETHOZ
ETHOZ is the preferred equipment rental provider for many customers because of our proven track records in professionalism and aftersales support. We have a wide range of equipment from well-established brands with different specifications to suit your requirements.
Armed with decades of experience and reputed customer service, you can be assured of the best service in the industry with your business needs being well taken care of from start to end. Our 24-hour service response time are peerless in the industry. Our team of well-trained service professionals are all based in-house as we firmly believe that you cannot outsource responsibility and responsiveness for our customers’ business. With ETHOZ, you are in good hands and you can set your mind at ease.
Last but not least, another important consideration is choosing a rental company that can cater to all your needs. Taking the time to pick a reputable company that offers a level of service can make the business partnership a pleasant experience over a long period of time, just as choosing the wrong one would result in wasted time and lost profits. At ETHOZ, flexibility, reliability, 24/7 service assistance and equipment quality forms the cornerstone of our rental business. Equipment stock of Mobile Elevating Work Platform (MEWP) such as Scissor Lift and Boom Lifts are kept up to date and in immaculate working order. Only equipment from established manufacturers are made available for rental. The equipment is also regularly tested to meet stringent safety standards by certified professionals ensuring that due care is not compromised and that all steps are taken to minimise client downtime. Ever dependable, our professional team of specialists in operations, technical support, sales and 24/7 service assistance are always ready to alleviate any issues. Rental contracts can be long-term or as short as a few days. Urgent last-minute requirements can also be accommodated if stock is available. All of these and more make renting with ETHOZ a hassle-free affair and frees up time for business owners to focus on their business priorities.
Equipment rental for business operations is definitely a wise decision for any company regardless of industries. The current fast changing customer demands, market trends and business environment favour corporations that are nimble and lean. Constant upgrading of business equipment and improvement of operational functions are no longer considered as unique selling prepositions, but necessary to stay competitive and maintain relevancy in the market.