The construction industry is undoubtedly one of the most significant sectors globally, employing millions of people and supporting the economies of numerous nations. It is also one of the most competitive. Contractors with the best equipment and most efficient techniques often stand out from others. This is why obtaining the necessary tools and equipment is crucial if you want to gain a competitive edge within the industry.
For small and medium-sized firms, this is often a challenge because they often don’t have the financial capabilities to buy the equipment they need upfront. Tool hire or equipment rental comes in handy for firms like this. Tool hire for contractors offers a wide range of benefits, including cost savings, access to specialised equipment such as mini digger hire, digger hire, and concrete mixer hire, and greater flexibility to meet project needs.
In this blog, we’ll explore the many benefits of tool hire that can help small or medium contractors thrive in the competitive construction industry.
Tool Rental for Cost savings
The Hire Association Europe (HAE) Index indicates that the cost of tool hire for small and medium contractors has reduced by 3% over the past year, which is encouraging for small enterprises that usually run on razor-thin budgets. The potential to save cost is one of the biggest benefits of tool hire, but there are many others as highlighted below:
Avoiding the high price of initial machinery purchase is one of the most enticing advantages of tool renting. Instead of purchasing the equipment, contractors can pay a reduced fee to use it for however long is necessary.
Excavators, for example, can cost thousands of dollars-money that several small and medium contractors can’t afford to spend. To get the most out of a project, keeping expenses down is crucial.
Rather than squandering money on costly equipment that won’t be used in the long term, hire it instead. By renting, you can use the equipment for as long as you need it while paying a much smaller sum.
Flexible Equipment Rental
The flexibility of not being tied down to a piece of equipment for an extended period makes equipment rental perfect for short-term projects. If you go for a digger hire for instance, it is easier to return it and hire a different one that is appropriate for the work if plans change in the middle of a project or if the digger turns out to be too small for the project. Contractors can rest easy knowing that they won’t have to worry about maintaining their tools and equipment by hiring.
Quality Equipment Access for Contractors
Many times, contractors discover that the equipment they bought may not work efficiently for the task at hand due to its size, capacity, nature of the project, and the quality of the tool in question. This is unlikely to happen with equipment hire since contractors get to test and use the equipment to ensure that it is the most effective for the task.
Rental equipment are frequently tested and maintained to make sure they are in good working order. Tool hire companies have experienced staff that inspect and service the machinery to ensure they meet the latest safety standards.
When you go for machinery rental for contractors, you can be sure that it is in good working order and meets all the relevant regulations.
Access to a wider range of equipment
Often, contractors buy equipment based on their budgets, which means their choices are limited to a small array of products within that budget window even though there are other types of equipment you could buy. With equipment rental, a small-time contractor can have access to a wider range of equipment than their budget would normally allow. This way, contractors can consider the different specifications of each machine and then choose the best match for the job they’re working on.
Tool rental enables small and large contractors to stay current with the latest technology and equipment that will improve their construction work. Instead of manually mixing concrete for instance, you can simply go for concrete mixer hire, saving you time and improving the efficiency of your project. Hiring rather than purchasing equipment with higher specifications will result in a superior quality of work for a building project.
Reduce storage limitations
According to some studies, the theft of construction equipment costs construction firms millions. Storage is a crucial step that contractors take to safeguard their equipment. However, secure storage requires dedicated storage space to hold equipment long-term. This isn’t something small and medium contractors have readily available. They’re often forced to hire extra storage space, which is more expensive. The storage issue is resolved by hiring tools when they’re needed.
In any industry that involves physical work, compliance with safety regulations is paramount. Regulations and safety standards are constantly evolving, and it can be difficult for companies to keep up. Failure to comply with these regulations can lead to serious consequences, such as accidents, injuries, and legal issues. It’s no wonder that many companies, both large and small, are concerned about compliance. Tool hire companies, however, have a vested interest in staying up to date with these changes. They have to ensure that their equipment meets the latest standards, so they can provide their customers with tools and machinery that are compliant. By hiring tools and equipment, you can be confident that you’re using the latest standard-compliant tools, even if regulations have changed since you last hired equipment.
Tool Handling Training
Tool hire companies can also provide training on how to use their equipment safely and effectively. They can help ensure that your employees are competent to operate the equipment. Some companies may also offer personnel to handle the equipment on your construction site while others provide on-site training. Either of these two options can be beneficial especially if your construction workers or employees are new to the job or are not familiar with the equipment.
Access to cost-effective equipment rental, flexible rental options, and up-to-date, compliant equipment can save contractors time and money. Small contractor tool hire or medium contractor tool hire can provide access to equipment that may not be affordable for small companies to purchase outright. This can allow them to take on larger projects and remain competitive in the market.
Overall, tool hire can provide cost savings, greater flexibility, and access to a range of equipment for contractors of all sizes. Regardless of the size of your construction business, hiring equipment as needed can help you work more efficiently. You can get the different tools and equipment you need for your construction company with easyToolhire. Contact us now or check out our website to find the right equipment for your next project.