Running a small business can be expensive and very difficult. Most small businesses fail within a few years. They fail because of two contradictory reasons. They fail because their overhead is too high and they cannot turn a profit. Alternately, they fail because they do not have the extensive equipment and resources of larger businesses. If you run a small business, you need to find a way to balance these considerations. You need to keep your overhead low while also finding a way to acquire as many of the resources of a larger business as possible. How do you do this?
Hire Your Equipment
If you are running a business that involves warehousing or storing items, you’ll likely need a forklift. A used forklift can easily cost you over £4,000. That can be enough money to put your books in the red for an entire month. That month could be coupled with a downturn in your sales the next month. In that way, one month turns into two months of negative numbers. This means that you’ll be going further into debt. Before too long, you could find yourself buried in debt that you can’t pay off. Furthermore, £4,000 is on the low end of prices for simple reach lifts. If you need a telehandler or a rough terrain forklift, it could easily be more than £10,000. You will additionally need to pay for any repairs to your forklift. These could be recurring costs that you have to deal with. All of that makes it much more difficult for you to run a successful business. Your best option is to rent a forklift or a telehandler from a great company such as MJC Services.
Hire Your Lift
If you hire your lift, you’ll be able to get the forklift or telehandler for a fraction of the price that you would pay for a forklift, even a used one. Also, renting a telehandler will help spread out your costs. Even if you need to hire the telehandler for months on end, it will spread out the cost. For example, if a telehandler costs you £10,000 to buy, you’ll likely need to pay that all at once. That will put you £10,000 in the hole for that month. If you can’t pay it off, that debt will carry over into the next month. If you hire the telehandler, you won’t have to go into debt. Even if you end up spending more than that £10,000 for repeated rentals, you won’t have to go into debt. This means that you’ll be able to keep your business stocked with quality tools without worrying about going into debt.
The difference between a small business and a large business is often the ability to afford great tools. The tools that large businesses use make their jobs easier and faster. If you can hire those tools for your small business, you’ll be able to replicate the quality and ease with which a large business accomplishes its work.