The engineering/construction industry is a capital-intensive one. If you are a contractor for construction in the public works in Qatar, you will have to make quite a bit of capital investment to get your contracting business going. Most of this investment goes towards heavy equipment and machineries like excavators, dump trucks, boom trucks, forklifts, and mobile cranes. However, there is a way to reduce this capital investment. The solution is to rent heavy equipment. Wondering how renting heavy equipment is a cost-saving method for construction? Here are 5 reasons to appease your curiosity.
1. It is cheaper than buying
The first and most obvious cost-saving benefit of renting heavy equipment is that it is cheaper than buying heavy equipment. Upon calculation of lifetime ownership cost, you will realise that owning and maintaining heavy equipment is costlier than renting it. Moreover, if you have just bagged a construction project, then the initial capital expenditure will leave you over budget on your very first construction project.
2. The liability is lower
If you have your own fleet of dump trucks, excavators, forklifts or any other heavy equipment, you stand to garner a significant amount of liability. For example, if there is a malfunction that needs repair or replacement of any component, the entire liability is yours to bear. This can add to your total project costs and throw your budget overboard. However, if you are renting heavy equipment, this responsibility/liability rests with the rental provider.
3. Forget about project downtime
When you have your own heavy equipment, there is a significant risk of downtime in your construction project. If one or more of your heavy equipment develops a fault and goes out of service, then your entire project faces a long period of downtime. Whereas, if you use rented heavy equipment, you can simply contact your rental supplier, who will readily replace the heavy equipment. This means you can continue without any downtime to your project schedule. This also enables you to keep your clients happy and content at all times.
4. Optimise usage to maximise profits
Another cost-saving benefit of renting heavy equipment is better optimisation of your existing resources. If you require a piece of heavy equipment like a forklift or a mobile crane for only a limited period of time, it is not economical to purchase such equipment. Instead, you can simply rent such equipment on a daily, weekly, or monthly basis until your project has been completed. This means you will be able to allocate the money you would have spent into buying the equipment, elsewhere in your business.
5. No maintenance and servicing costs
Among the several cost-saving benefits of renting heavy equipment is the lack of expense towards equipment maintenance. Heavy equipment suppliers like Nasser Al Jaber Group in Qatar are known for maintaining their equipment in the best possible condition. This means you will not need to shell out additional money from your project budget for the maintenance of heavy equipment.
You can save a lot of money on your construction projects by reducing your liability, eliminating downtime, optimising resources, and doing away with maintenance costs. Moreover, by renting heavy equipment from a reputed company in Qatar like Nasser Al Jaber Group, you can rest assured that the rental equipment you receive works flawlessly on the field. With reduced hassles and a reliable rental provider like Nasser Al Jaber Group, you can experience more tremendous success in all of your construction projects in Qatar.