As an entrepreneur, you want to do everything you can to make yourself stand out from the competition. One way is to have the necessary equipment to help you do your job. Since you may not have the capital to buy this equipment outright, your best option may be to rent it. Renting helps you save money while also improving your business and curating a larger customer base. Discover the following four rentals that can make your life easier as an entrepreneur.
Today, new technologies get developed so quickly that spending money on buying the latest products seems unnecessary. Instead, you’d be better off leasing this type of equipment from a retailer.
In a survey conducted by the Equipment Leasing Association, 65 percent of people agreed that access to the latest equipment was the greatest benefit to leasing. Additionally, you won’t have to pay anything upfront as you would with a purchase, which is great if you don’t have much cash on hand.
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Renting construction equipment is essential for contractors starting out in the business. For example, consider a rough-terrain forklift used for material handling. This multipurpose tool allows you to lift heavy loads across any type of indoor or outdoor terrain. You could use this forklift to tote heavy pieces of lumber, move bricks, or lift pallets high into the air.
But with prices soaring into the hundreds of thousands of dollars for some types of equipment, buying may not always be feasible unless you’re a well-established company in your area. By renting, you’ll be able to save on equipment maintenance and storage costs.
If you clean houses for a living, you know how bad some cleaning situations can be. On big jobs, your vehicle may be filled with stuffed garbage bags. Luckily, you can avoid having your vehicle become a mobile garbage collector with a dumpster rental. Instead of carrying away garbage yourself, all you have to do is use a large receptacle to collect the trash.
With a dumpster rental, you’ll be able to take on bigger projects, such as cleaning out an estate or helping clear out homes with severe clutter. Plus, dumpsters can haul away almost any type of waste, except for hazardous materials.
For entrepreneurs who are constantly on the go, leasing a car instead of buying a separate company vehicle could be an excellent decision. Leasing is often cheaper than buying a vehicle, and leasing can allow you to afford a more luxurious vehicle than you could have otherwise. This point is especially important if you want to give off an air of sophistication to your clients. Plus, you can deduct the monthly lease payments on your taxes as a business expense, which can save you more money.
Entrepreneurs certainly don’t have to rent everything when starting a new venture. However, renting is a great way to conserve capital and make sure you don’t overspend while your fledgling business is still working to support itself.