“LOTS OF BENEFITS”
by Contributor
(May 13, 2020) — As the owner of a construction business, there are certain things you’ll need in order to be successful. You’re going to need construction workers (of course!), tools, equipment, and a fleet of trucks to haul heavy materials. With all those requirements to run a successful construction company, your overall goal is to provide necessary services to your clients all while controlling your bottom line.
The financials of it all is the biggest concern in running any business regardless of the industry, but when it comes to running your construction business, the wrong purchase can put you in a deep hole financially. That reason alone is why it’s so important to avoid those pesky money mistakes small business owners make.
In making money mistakes, can you guess what one of the biggest money mistakes you can make as a construction business owner is? It’s making unnecessary purchases. Now, to speak more on unnecessary purchases, can you guess what an unnecessary purchase might be for a construction business owner? Purchasing your fleet of trucks.
Purchasing your fleet of trucks outright may be a possibility for you but it certainly isn’t the best business move for your business. Renting from the right company is not only going to benefit your business’ bottom line but it’s also going to allow you to put all your focus on your projects versus having to constantly maintain and keep up with the expenses that come with purchasing a vehicle.
If you’re still not sold on why renting a fleet of trucks is better for your business, let’s dig a little deeper.
Why Fleet Truck Rentals are Better For Your Construction Business
Fleet Truck Rental Companies are Accommodating to Your Business’ Needs
No project is the same and your business will grow… Well, whether you have a new project or acquire more clients, your business needs are going to change, meaning your fleet requirements will be changing too.
By renting your fleet of trucks, you’re agreeing to a short-term commitment to the vehicles making it easier to accommodate your current project… No need to purchase a specific type of truck that you may only use one time or only for certain types of projects.
You Don’t Have to Maintain the Trucks
You know how expensive it can be to have maintenance done on your personal vehicle? Well, just imagine how expensive it can be to have maintenance done on a fleet of flatbed trucks or ¾ ton trucks… Everything from repairs and oil changes to buying new tires, maintaining a fleet of trucks will blow through your bottom line!
That reason alone is why it’s so important to rent the trucks you need instead of buying them. The total cost of ownership for a light-duty vehicle can cost you anything from $5,000 to $10,000, so just imagine what it will cost for a fleet of heavy-duty trucks…
Again, buying a fleet of trucks would be an unnecessary purchase that you don’t have to make. According to a study by KPMG, fleet management costs are on the rise and the two drivers of the increase in costs are new regulations and safety technologies, and to own a fleet of vehicles will definitely break the bank.
You Have Affordable and Predictable Monthly Payments
By renting a fleet of trucks, you’re able to design a rental agreement with options or services that meet your business’ needs, leaving no unexpected surprises. Renting allows you to easily keep up with all the financials of each project because you’re paying a set price for the entire rental agreement.
Fleet Truck Rental Companies Have Expertise in Your Industry
Fleet truck rentals are a very specific niche, meaning that the company you choose to rent from knows all about the industry you’re in and why you need a fleet of trucks… their expertise is what will more than likely acquire and maintain you as a customer, simply because they understand your needs and concerns.
Because of their expertise and past experiences, they’re more than likely going to be able to provide you with various solutions and options to help better meet your needs.
Are You Sold Yet?
As you can see, there are lots of benefits to renting a fleet of trucks for your construction business versus buying. It’s now up to you to decide whether or not you want to buy or rent. Do an assessment of your company’s financials and see if it’s in your budget and how your company could benefit from either.