This is a bit more generalized than the previous three, because you can rent out a wide variety of equipment to fit any business’s need. So if you need to get a crane to help your customer’s business get re-organized or you want to pave your own parking lot, you can get it done with the magic of rental equipment. Magic, I say!
The trick is to use financing to help you get the equipment rental inventory you need to rent out. With the possibilities rental gives you and the cash flow and payment advantages associated with equipment financing, you’ll be chugging right along in no time.
Types Of Rental Equipment
- Heavy tools
- Air compressors
- And more!
The Big Advantage Of Financing
So what is the big advantage? For the rental industry, I think the primary advantage is being able to stock your inventory all at once. If you run a rental company for construction equipment, for example, you probably cannot afford to outright purchase four bulldozers, even if that fits your demand. Finance those same bulldozers and all of a sudden everything’s much more manageable.
Thanks to the payment schedule, you’ll be able to work around your cash flow. If you have a particularly busy time of the season—in the case of construction, summer—a good finance company will let you stagger your payments so they come when the rental activity is highest. It’s a winner for everyone.
If you need equipment financing to get your business off the ground or just to expand an already great rental shop, check out Direct Capital’s rental equipment financing programs today.
Photo credit to iStock