Does your next project require traffic equipment? You could go out and buy it, or you could reach out to Universal Traffic Supply and rent everything you need! Besides the opportunity to partner with traffic management experts who can offer advice and excellent customer service, here are five reasons to rent (not buy) your traffic equipment needs.
1. Minimize initial expenses
The start of a new project is rarely a convenient time for added expenses. While some are necessary, large initial expenses for equipment purchases can be avoided by renting what you need. It may be that you’re not sure if you’ll need that exact type or quantity of equipment again, or that you want to test a few options to see what combination of equipment best suits your project needs. The most cost-effective way to do this is to rent what you need.
2. Expand your inventory
The scope and pace of work often change between projects and it’s difficult to know precisely what your equipment needs will be and when. Even if you own some equipment, it can be difficult to manage your inventory when projects overlap. Renting equipment immediately expands your inventory so you can always be sure you’ll have what you need when you need it.
3. Get the latest upgrades
Perhaps you have the resources to head to a warehouse and buy top of the line equipment. But how long will it be top of the line? Technology and manufacturing feel as though they move at lightning speeds which is great for equipment innovation but can make upgrades difficult to keep up with. Renting equipment is the best way to gain access to the latest and greatest without having to purchase new equipment every few months.
4. Avoid transportation and storage hassles
If you’re not used to hauling a solar-powered message board, transporting it can transform into project delays, increased risk, and added costs. Or perhaps you are used to hauling equipment but you’ve already got enough on your plate, you don’t have a place to store it, or it’s simply not your cup of tea. Whatever your reasons, renting equipment is a great way to avoid the hassle.
5. Avoid maintenance and repair costs
Equipment is high maintenance. It needs to be tested, cleaned and maintained in optimal condition. Even then, every once in a while, it breaks down. Renting equipment allows you to avoid the costs of maintenance and repair while ensuring you always have access to equipment in great condition and a team ready to back it up.
6. Optimize cash flow and tax benefits
Predictable cash flows are vital for healthy business budgets which makes pre-determined rental expenses an attractive alternative to large one-time expenses. This leaves working capital for day-to-day, expansion, or other business-related expenses. Expenses is a keyword as opposed to debt. Leasing equipment rather than financing it keeps debt off your balance sheet. Not to mention it provides businesses with opportunities to deduct rental payments against current earnings, and tax benefits are nearly impossible to resist.
Ready to rent your traffic equipment needs? Contact us to learn more!
If you’re still not sure whether renting or buying is right for you, reach out to Universal Traffic Supply. Supported by Universal Flagging and Traffic Control and Universal Traffic Management Plans, the team has a wealth of knowledge and experience to help find the right solution for your needs.