As the owner of a dredging and drilling company, it is up to you to ensure you have the right equipment on hand for the jobs for which you are hired. Without the right work gear, you have to turn down jobs and in turn miss out on making money.
However, you may not have a lot of excess funds in your cash flow to buy the machinery you need for some of the higher paying jobs on which you can bid. Rather than put out money for caterpillars, drills, and sludge dewatering equipment, you can get what you need by leasing it instead.
The Advantages of Leasing
You might wonder why you should lease the equipment rather than buy it outright. Would it not suit your company better to purchase what you need and then have it on hand for whenever the job calls for it?
In fact, buying equipment can be expensive and put a serious dent in your cash flow. It can cost you tens or hundreds of thousands of dollars just for a single piece of equipment. By the time you complete the transaction, you might be left with nothing left in your business’s checking or savings account.
When you lease it, however, you save money and still get the machinery needed to bid for jobs. You pay a fraction of the asking price on a monthly basis. You can take the lease payments out of your monthly profits and still have money left over with which to pay bills or make payroll.
Further, the leased equipment typically has a warranty or guarantee on it that prevents you from having to pay for repairs and maintenance. If you own this equipment, those costs would have to come out of your cash flow. You may have to put off repairs if you cannot afford them.
You can find out more about leasing the equipment you need for your company by visiting the business’s website. You can get the machines delivered to you promptly,