There is no doubt that forklift hire has plenty of benefits. However, they do vary from industry to industry and business to business within those industries. We wanted to summarise the main points to consider when thinking about hiring a forklift for your business.
Financially hiring a forklift
- A capital gain is realized when your existing equipment is purchased turning assets into cash.
- Forklift hire charges are part of your operating costs and therefore are 100% tax deductible.
- Lines of credit are enhanced as rental payments are not required to be shown as liabilities on financial statements.
- Costs be controlled with hire fees established up front which incorporate repair and maintenance costs facilitating accurate budgeting.
Productivity for your business
- Availability of equipment is guaranteed with replacement equipment supplied at no additional costs, in instances of equipment failure.
- Flexibility can be built into any forklift hire management to ensure seasonal requirements can be met cost-effectively allowing your equipment to increase and decrease to meet your needs.
- Regular consultancy and planning in terms of programmed maintenance timing and additional requirements will provide optimum equipment availability.
Administration savings
- Elimination of all administrative duties associated with record keeping, maintenance, and compliance with government departments in terms of forklift trucks.
Simplicity of forklift hire
- Your responsibilities are limited to manning the equipment and meeting basic operating costs
There is no doubt that Forklift hire can be a very powerful tool for your business. That can give you great returns and be a huge operational benefit to your business. With the above benefits laid out for you, it’s easy to see why you should consider hiring a forklift in your business.
What about the reasons not to forklift hire? Believe it or not, we want to share some reasons why you shouldn’t hire a forklift.
Utilization of forklifts
If you are only doing 1 hour per day, maybe you only unloading a truck every other week. You can be paying out a lot of money in hire charges, that you don’t need to. Consider spending a small amount of capital instead. Depending on what type of forklift you need, you can still find good value around the $ 5,000 mark.
Maintenance of equipment
Sometimes businesses have their own maintenance staff on hand, it’s easier to have a forklift repaired in-house than it is to outsource. This of course needs to be considered within the operational guidelines of the individual business.
The same thing applies to the utilization point. If there are minimal hours of use, then it won’t need as much service and breakdown repairs. You will undoubtedly save your business money by having your forklift repaired and serviced on a when and as-needed basis.
Most forklift hire companies can offer a 12-month fixed preventative maintenance contract. For businesses that own their own forklift.
The great thing about this is most forklift hire companies can service and repair every brand on the market.
Forklift hire does have many benefits, but it is far from a one-solution-fits-all option for every business. Make sure you understand what your business needs before doing anything.
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