Are you ready to add new surface preparation machinery to your arsenal permanently, or are you just hoping to rent some equipment for a few projects? Not sure which option is right for your business? We can help. The industry experts at Runyon Surface Prep have years of experience providing high-quality equipment to contractors, and we’re dedicated to sharing the things we’ve learned.
Purchasing new surface prep equipment is a hefty investment. Today, we’re diving into the various advantages of both renting and buying, as well as looking at a few different factors that can help you make this tough decision.
4 Things to Consider
Here are some of the factors you should keep in mind when deciding between renting or buying new surface preparation equipment.
This one might seem obvious, but funds will play a large role in choosing whether to rent or buy your equipment. Do some number crunching to ascertain exactly how much you’ll be able to spend on new equipment after you’ve factored in your current tooling and other consumable needs. If you wind up with plenty of funds, buying new or used surface preparation equipment outright might be the way to go. Conversely, if you know you don’t have the money for that floor grinder you’ve got your eye on, you have your answer—opt for a rental, or save your funds for that big purchase at a later date.
2. Your Exact Equipment Needs
Once you’ve got your equipment budget nailed down, you’ll have a clear picture of how much you can spend and whether a new machine is even possible. Surface preparation equipment runs the gamut from a few thousand dollars to more than a brand new car, so ideally you’ll hone in on the exact machine that you’re interested in. If it’s completely out of your budget, you may find renting the best option. If you’re set on buying a new machine, though, you might want to go with a more compact, less pricey model. But keep in mind that more affordable equipment often comes with less power or fewer features.
3. Frequency of Use
Another factor that can help you sort through this decision is the frequency with which you would use a new piece of surface preparation equipment. If your business is expanding and you find yourself taking on more projects, additional or replacement machinery will serve you well. On the other hand, if you’re looking at a piece of specialty equipment that might only be used for a single project here and there, you’re better served just renting out the machine if and when you need it.
4. Scale of Projects
The average size of your projects can also help you decide between renting and buying new surface preparation machinery. As your business grows, you may decide to expand your team and take on larger jobs, moving from garages and smaller commercial installations to warehouses, schools, or corporate offices. You’ll need equipment that can keep up with your schedule and handle work quickly and efficiently. That might mean that it’s time to invest in something like a ride-on trowel machine, for example, which can tackle larger surface areas at a quicker pace than a walk-behind unit. But if you find yourself sticking mainly to smaller projects with the odd large job thrown in, renting additional surface preparation equipment as needed is your best bet.
Renting vs. Buying—Which Wins Out?
Ultimately, the right option for you and your team will depend on all of those factors and more. Take some time to consider what will work best for your business and allow you the flexibility to grow while keeping your equipment up to date. Renting surface preparation equipment is a great short-term option that can allow you to tackle larger projects without paying the full cost of a new machine. Additionally, if you’re getting up to speed on new methods or technology, you might find that renting equipment to begin taking on these kinds of jobs is an ideal way to polish your technical skills before fully integrating a particular service or method into your offerings.
Looking for High-Quality Surface Preparation Equipment?
Whether you’ve landed on renting or buying new equipment, Runyon Surface Prep has you covered. We’re a full-service sales and rental facility offering surface preparation machinery and consumables from a variety of trusted brands. Almost more importantly, we treat our customers like family—establishing and building industry relationships is an essential part of our mission. If you’re still stuck comparing your renting and buying options, give us a call. Our team of surface preparation professionals is ready and waiting to help you determine what you need to get the job done.