Contracting businesses naturally evolve. While many contractors start out offering a select few services, many eventually grow to provide additional works. Many companies make the jump from residential to commercial and eventually into industrial contracts. This type of growth is excellent for companies, subcontractors and suppliers alike.
With business expansion comes the added need for newer, bigger equipment with more offerings or different applications. Renting equipment to fill in these new needs allows you to quickly and efficiently expand without the responsibility of managing more equipment yourself. You can conveniently ramp up production without spending the time securing financing to cover capital expenditures. The rental market for construction equipment has grown significantly in recent years for this exact reason — contractors want access to a full line of equipment and applications to fulfill immediate needs on an ongoing or short-term basis. But they don’t want to keep a large fleet themselves.
Having the option to rent equipment gives you many more options without having to expend your own fleet. Many contractors take a hybrid approach where they own their core pieces of equipment and supplement with rental equipment on an as-needed basis to boost their production capacities. Having a go-to rental provider allows you to take on more projects and not leave money on the table.