In many industries, a crane is one of the most important investments you can make when setting up new production or upgrading existing facilities. A new crane is a large capital investment, and it can be difficult to make such a large purchase while your business is still developing.
Follow this step-bystep guide to help you determine whether you should buy or rent a crane.
• Budgeting for a premium crane
• Investing in your core business
• Outsourcing tasks that aren’t your main expertise
• Planning monthly costs
• Flexibility for the future
Getting a premium crane within your budget
High-quality equipment means excellent performance in everything you do. A crane must be reliable so you can work safely, quickly and precisely. Buying a crane can come with a large initial investment. Maintenance and repairs will require additional budgeting and new needs can arise with changes in production. With a rental crane you get a premium crane with full service but without a large capital investment. A reasonable fixed monthly fee keeps costs down. In addition, it means you always know what you’ll be paying, so it’s easy to plan your equipment spending.
Investing in your core business
When you set up a new factory or any other business where cranes are necessary but not part of your core activities, they can feel more like a distracting requirement. In this case, buying a crane might not always be the best option. It would be more beneficial to put your money into other equipment or raw materials which directly contribute to your product and bring in your operating profit.
Outsourcing tasks that aren't your main expertise
When buying a crane, you have to make considerations for compliance inspections, parts and maintenance. With a rental crane, maintenance, replacement parts and annual inspections are included in the monthly fee – taking the guesswork out of what is needed when. You’ll also get remote monitoring for visibility to crane usage and 24/7 service support. Letting the crane manufacturer take care of your crane lets you better focus on your core business and gives you one less thing to worry about.
Planning monthly costs
Wouldn’t it be nice to know your monthly operational costs more precisely? Owning a crane means budgeting for inspections and preventive maintenance, but unexpected breakdowns and spare parts for repairs can eat into a lean operating budget. With a fixed rental fee, you know the exact cost of your crane every month. Breakdowns and parts are included, making your equipment expenses far easier to manage.
Flexibility for the future
Your business is always evolving and having the right lifting equipment for changing needs is essential. When your production changes, you can upgrade a rented crane to match your new requirements. And when the rental period is up, you can continue renting, buy the crane or even return it. A better range of options gives you more flexibility and peace of mind.
Related resource
Ambridge Regional Center offers in excess of 1.2 million square footage of industrial, commercial and office space for lease at rates extremely competitive to the market.
When it comes to parts and service, it doesn’t matter who made your crane. We offer genuine Konecranes spare parts as well as replacement parts for all other makes and models.
