Purchasing a concrete pump is a significant investment for any concrete contraction company, especially those that are just starting out. While every large concrete company requires efficient concrete pumping solution, some companies require extra help at times. While for some companies that may signal the beginning of a significant expansion, for other companies, it is just a question of renting the right concrete pump for a couple of hours.
Of course, renting a concrete pump is the way to go until you know how often you will use the equipment. That said, let’s take a look at why you should buy concrete pump instead of renting one.
Say you are doing a job every work day, for the whole year. Also, say most of these jobs are big, then you'll certainly need to buy concrete pump, a big one at that. The fact is that the expense of renting a concrete pump every time you need it accumulate, and at a point it gets too much.
The cost of concrete pump rental can start to add up if you work often. And it gets to the point that it is not just more practicable in the long-term to purchase a concrete pump, it is also more cost-efficient in the short term.
Offer Freedom and Flexibility
One of the major benefits of owning a concrete pump is that you won't have to rely on someone else. With that, your pump is there when you want it, and you don't have to call the concrete pump rental company to schedule one. During the busy season, rental companies need a couple of days' notices, and lots of times, contraction companies don't know two days in advance where and what time they need the pump.
Moreover, having your own pump also helps you coordinate your companies more effectively. You know when the pump is going to be at the site because you own it, and this also makes it easier for you to coordinate labor.
Another benefit of buying your concrete pump comes from depreciation. The Economic Stimulus Act gives a great benefit for equipment shoppers, making it financially smart to purchase equipment. This stimulus act allows you a first-year depreciation amount equal to 50% of the qualifying concrete pump cost.
Ability to Make Extra Cash
The ability to rent out your equipment is another benefit of owning your own concrete pump. And this can actually make you more money. When you are not using your concrete pump for your work, you can consider renting the equipment out to other contractors. A lot of construction companies have been doing this for years as another source of revenue.
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