Buying new surface preparation equipment is a very big investment, so before you take the plunge, you need to be sure that this option is the right way to proceed. There are advantages and disadvantages to both buying and renting and you have to consider both to make an informed decision. You need to decide whether you’re ready to add new surface preparation equipment to your arsenal permanently or if renting the equipment for a couple of projects makes more sense.
The following factors will help with your decision:
This is an obvious one and will play a big role in your decision. You need to take a look at your numbers to determine your budget, which will lead you in the right direction. Make sure you factor in your current tooling and other needs so that you have a realistic number and can make your decision accordingly. If you see that you have a big budget, you can purchase the equipment but if you see that your budget is tight, you can proceed by renting the equipment instead.
Once you know the amount you can spend, you need to focus on your needs. This will help you find the exact machine you need, which is important because the right equipment will get the job done right. You can look at different models to find the one that would best suit your needs and because the pricing varies, you can decide whether buying or renting is the best way to go. This type of equipment starts at a few thousand dollars and can cost as much as a brand new car, so you really need to figure out your needs to narrow down your options.
You need to consider how often the machine is going to be used, as this, too, will help with your decision. If you only need the equipment for a couple of projects, renting is the better option but if your business is growing and you want to take on more projects, buying might be the better choice.
Type of projects
The size of your projects matters because you need the proper equipment that can keep up with your schedule and workload. Investing in a machine can help you tackle projects more quickly and efficiently, so if you are working on large projects, buying is the way to go as you will be able to handle larger surfaces at a quicker pace and can take on multiple projects. If you deal with small projects, renting would be fine because this would allow you to access the right equipment when and if you need it.
Royal Coating & Supply can help with your decision. We offer concrete floor grinder rentals, polishers and repair products as well. We work with Unicon Concrete, Northland Construction Supplies and SIKA, so if you are in the Edmonton area, Dieppe, New Brunswick or Toronto, contact us for all of your surface preparation equipment needs today!