Looking for Fleet Flexibility? Consider Renting a Forklift

In addition to selling industrial equipment of all sorts, most authorized dealers offer a fleet of forklifts to provide rentals to their customers. These forklifts are intended to provide short term use of their forklifts during time of increased business needs without requiring the capital investment needed to purchase forklifts that would sit idle for extended periods of time.

If your business needs for forklifts varies during the year, renting the lifts may be the best option for subsidizing the forklifts you own. Most dealers will offer short term or long term rentals, so you would need to decide which is better for your particular needs.

Short Term Rentals

There are many different situations where your business would profit from short term rentals:

• Your business fluctuates dramatically throughout the year, and you only need additional equipment for those times of the year when you’re the busiest.
• You are trying out different equipment-if you’re considering the purchase of a forklift, you may want rent a particular model to see if it meets your business needs. It’s a great way to test drive a lift.
• If you need a replacement during repairs to your own forklift-if your forklift is laid up in a repair shop, your business still goes on, and a short term rental can provide a substitute.
• Capital preservation-if your budget isn’t sufficient to buy the additional forklifts that you need, renting them is a viable option.

Long Term Rentals

Forklift rental companies usually have rates based on daily, weekly, monthly, or longer terms. Generally speaking, the per day cost of renting is lower if you enter into a longer term contract. The reason is simple-rental companies don’t make any money when their equipment isn’t being rented, and they have to factor this into their rates to be profitable. If you agree to a longer term contract, their risk of having idle equipment is lower and they can pass some of the savings along to you in the form of lower rates.

Fleet Flexibility

Perhaps the greatest benefit of renting your forklifts or other materials handling equipment is flexibility.  If your business is expanding rapidly or experiencing periods of volatility, you can increase or reduce the number and size of the equipment based on shifting needs. The alternative would be to sell or trade the equipment you own when business needs change, then purchase new equipment. In many cases, this strategy would cost far more not only in terms of financial outlay, but also in time lost while replacing equipment. If you’re renting, the dealer will accept the return of the equipment and can quickly substitute the right equipment.

Tax Considerations

Many business decisions are based in whole or in part by considering the tax implications. A forklift rental may be considered an operational expense versus a capital expense and could possibly be used to reduce taxable income Often, this is less complicated than depreciating a purchased piece of equipment. Of course, your tax professional would be the best source for understanding the tax implications associated with renting your equipment.

Maximized Utilization

Businesses use equipment to help make money and maximize profitability. A piece of equipment is best utilized when it’s being used consistently. If your business is renting forklifts, your managers will be able to tell if the use they’re getting from a particular piece of equipment is worth the expenditure. If you find that you can get along with less equipment, you can return those items to the dealer to reduce your expenses.

Maintenance and Repairs

Most rental agreements for forklifts include maintenance and repairs. If a piece of equipment is damaged, the rental company can replace it, sometimes in a matter or hours. Not only does this save your company the expense of repairs, but helps to keep your business running without delays while waiting for repairs.

If you’re have any questions or concerns about renting a piece of equipment, you should check with the professionals at Ring Power Lift Trucks. We are the premier forklift dealer in Florida with a broad range of forklifts as well as other materials handling equipment. We represent all of the leading forklift manufacturers and can work with you to select a new or used forklift for your operation. We also offer short term and long term forklift rentals. We serve Jacksonville, Sarasota, and many other locations in Florida, and our service go beyond sales and rentals. We can also supply you with forklift parts and service to minimize your downtime.

If you would like any more information about the products or services we offer, visit our website or reach out to us at 877-544-5438.