Thinking about adding equipment to your construction firm?
When the seasons change, most of us notice the weather that changes. Sometimes we notice the different type of clothing worn, or our favorite sport comes back into season – fact is that different seasons bring different things. In many parts of the country, Construction work is done in seasons. Even though it still might be Winter season for many parts of the country, it’s not a bad idea to start planning for your busy season now. Your company has to maximize the time you have for jobs. Since you won’t have year round sunny weather ( We’re blessed out here in Southern California ), Planning everything out in advance is key to maximizing your profits.
Construction firms have long used equipment leasing to build the foundation for their success. Any Project Manager will tell you that having the right tools is essential to completing any job. Looking to the future and doing an audit on your expenses may bring potential cost saving measures to light. Sure – there’s always the option of renting the equipment day by day.. but what about bfor larger jobs? When you land larger jobs – it usually makes sense to go with leasing the equipment. Adding valuable equipment to your company’s arsenal can get you more and bigger projects, but it’s up to you to check the ROI. Whether it’s a crane, excavator or Drill – it’s important to do the proper research before obligating your company to the lease.
Construction is quickly becoming one of the fastest growing industries this year. Potential clients have more complicated jobs and want them finished faster than ever. How can you effectively adapt to these new trends?
Taking the time to forecast upcoming jobs will give you a world of insight when preparing for the busy season. Having a good understanding of what jobs new equipment can land you can allow you to make the best decision for your company. Whether you choose to add equipment that’ll speed up your jobs. Or equipment that’ll allow you to get new more complicated projects – the decision is lasting and should be thoroughly discussed before committing to equipment.
Do you have a piece of equipment that’s giving you problems? Whether it’s Bobcat, Caterpillar, Deere, or ____ – performing a cost analysis on the equipment can help you choose the best action to take. If your equipment is constantly breaking down and slowing down jobs – it might be best to upgrade the equipment or at least permanently fix the problem. In Construction, maintaining your competitive edge means being able to finish jobs in a timely manner.
Possible advantages can justify the equipment like being able to take on additional jobs, freeing up cash flow, saving money on repairing old equipment, and tax benefits.
It’s important to plan and be ready now, the construction industry is only getting stronger so it’s wise to be better prepared. Providence Capital Funding is always available to help you weather the storm or bridge the gap between projects!