Deciding whether to rent or buy an elevated work platform is a big decision that has a significant impact on a businesses operations and finances.
It is a big decision with many questions to consider.
How safe is it? How often will it be used? Does the elevated work platform require regular maintenance?
The decision could turn out to be very costly if expensive equipment is bought and left in the basement gathering dust.
On the other hand, there are additional costs with rented elevated work platforms that don’t come with buying.
So, this guide will help you make an informed decision if you are torn between, or unsure about either buying equipment or getting equipment hire in Cairns & Townsville.
Buying an Elevated Work Platform
Pros of buying an elevated work platform:
By owning an elevated work platform, you are adding value to your business, and you have access to the equipment all the time.
Cons of buying an elevated work platform:
Elevated work platforms are usually expensive, so if you are not in a position to pay for it up front, you’ll have to take out a loan.
Loan debt leaves you vulnerable and exposed to loss in your profit margins.
Alternatively, you could buy a used elevated work platform at a lower cost, but do keep an eye out for signs of wear and tear.
In addition to the purchasing costs, you will need to also pay for repairs, maintenance, and training for your employees to safely use the elevated work platform.
Renting an Elevated Work Platform
Cons of renting an elevated work platform:
You will have to pay each time you rent the work platform as well as delivery and pick-up costs.
The physical distance between your business and the rental company can also impact the total rental fees.
There is also another option. You could always rent first, and should you love the elevated work platform and feel that it’s a perfect fit for you and your business, you could attempt to buy the same elevated work platform at a later date once you are sure that it is the right choice.
There are pros and cons to both buying and renting elevated work platforms, so you need to decide what works best for you by weighing both sides closely.
At Global Hire and Services, we can help you decide whether buying or renting an elevated lift platform is best for you and your business.
To discuss our elevated work platforms in detail with our expert staff, feel free to contact our professional team on (07) 40 354 619 for our Cairns office, or (07) 44 121 500 for our specialists in Townsville.