Masonry Magazine June 2012 Page. 23
Consider the longterm effects of an equipment purchase on the company's balance sheet.
In this instance, the return on investment can begin within a few months of the initial purchase. Investing in certain types of equipment with high projected utilization rates (above 60 percent to 70 percent) will likely offset any initial outlay of funds from buying or financing, and can even provide long-term tax benefits for businesses through the deduction of interest expense and depreciation costs on your tax forms.
The right decision for your business
WHEN MAKING THE DECISION to either rent or own equipment, it is important for contractors to consider the long-term effects of an equipment purchase on their company's balance sheet. Does the projected utilization rate justify the total cost of ownership? If so, then ownership can be the right way to go. But if the total cost of ownership for a piece of equipment is high, and the expected utilization and subsequent profits from said equipment are projected to be low, then renting is likely the best option. IMAS
Eudes Defoe is product manager, handheld tools and light compaction, Chicago Pneumatic Construction Equipment.
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MASONRY 21