World economy is based on the pillars of construction business. Even though so lucrative, the contractor’s responsibilities and work are not so easy. They have to oversee everything in advance, from the biggest thing to the smallest thing. It is important to manage the manner in which they spend money. Is it necessary for them to buy cranes or can they carry out their commitments by just lending out crane from cranes for rent companies? This is an important question that will have to be faced by a construction company on many occasions in their long life.
Advantages of buying cranes
Aim of every business is to maximize profit. Therefore one must be very sensible while taking decisions on investing money in construction business. So consider these advantages of buying a crane before taking a final decision.
- The success of your contract work is very much dependant on how fast you are able to complete your work. If you have your own equipment the work becomes more faster and your company becomes more successful.
- If you do not own cranes, you will have to wait for its availability to complete your work. This makes one incapable of accepting urgent works which may carry better rates.
- Instant work is possible if you own cranes. This will cut down other overhead charges. Without necessary tools one cannot complete the work just by speeding up or motivating the employees.
Disadvantages owning cranes
- Machines need protection maintenance and storage. If you are buying crane, you will have to employ crane operators and its service personals. You will have to provide space for its garage. These are additional expenses and can become a burden to the company.
- Another disadvantage is that during the periods when you are not having any work for which crane is needed, you will have to pay salary. You will also have to pay service and insurance charges for the vehicle. This is a burden which cannot be shouldered by small contractors.
Advantages of crane rentals
- Crane rentals eliminates the necessity for expensive machines and it maintenance. The salaries need not be paid for its operator and maintenance persons and no space has to be provided for its garage.
- Renting cranes from crane rental companies washington dc is an easy way to get work done easily without spending huge amount of money towards it cost. The cash savings in this regard cannot be overlooked.