Professional Community for Car Dealers, Marketing, Advertising and Sales Leaders
Many businesses use work vehicles, such as trucks, as well as more specialized equipment and vehicles to complete vital tasks on a regular basis. Specialized equipment may include forklifts, knuckle booms and other similar types of equipment. Paying for these vehicles and equipment can cost a small fortune, and you understandably want to find a way to save money on this expense. There are several great money-saving ideas to consider, and you may find that at least one of these ideas is feasible for your company’s unique needs.
While your team may use some equipment on a regular basis, there may be other less vital equipment that is only used periodically for specialized tasks. For these less vital types of equipment that are not used daily, such as knuckle booms and other equipment, you could rent the equipment as needed from a company like Direct Hire. This may eliminate your equipment loan payments, your maintenance expenses and other related costs of ownership.
Another way to potentially save money on your company’s equipment needs is to buy used equipment. You may be able to find gently used equipment that is in like-new condition, and this equipment could be available for a fraction of the cost in comparison to new equipment. Buying used equipment is preferable over renting when you use the equipment on a daily or very frequent basis. Spend time comparing the options between new and used equipment for sale so that you can make the most cost-effective buying decision.
If your business has multiple locations that are relatively close to each other, you could potentially share equipment between locations. This works well when equipment is not needed on a daily basis in both locations. You could invest in a trailer to transport the equipment, and the cost of the trailer could eliminate the need to buy extra equipment for each of your business locations. Remember that you may also be able to eliminate equipment needs in a single location by determining how frequently the equipment is actually used. For example, you may not need two of the same equipment types on-site after all.
It may not be possible for your business to conduct all operations and tasks without the use of specialized types of equipment. Buying new equipment is one option, but it is not the most affordable option available. Each of these money-saving ideas may be suitable for your unique operational needs. Spend time exploring each of these options in greater detail, and you may find a wonderful way to dramatically reduce your operating costs.