When you start a business, you might think that you need to buy your transport equipment. This is not always the case and there are many businesses that find it easier to rent their equipment. It is important that you consider whether you should buy or rent your transport equipment from a company like Rentco before you make any major decisions on this.
Your Financial Situation
The primary determining factor when it comes to deciding to rent or buy equipment is your current financial situation. You have to consider if you have the capital to buy the transport equipment that you need. It is important to note that this equipment is expensive, particularly if you are looking to buy new.
Buying is a good option because you have a one off initial outlay for the equipment and then you own it. This large cost could be something that your business can afford and you should consider this. Renting is generally the solution people turn to when they do not have the initial capital, but it can be a larger burden. Over the rental period, the costs of the equipment could end up being more than simply buying the equipment.
When Do You Need The Equipment?
Another major deciding factor is how often you are going to need the equipment. The length of the project you have and the frequency of jobs will determine whether or not it is better to buy or rent. If you are looking at a short-term job, then buying your transport equipment might not be the best idea. The large financial outlay will not be viable for a short-term project, particularly those that require specialized transport equipment.
However, if you are looking at equipment for a long-term project or equipment that you use regularly, buying will often be a better option. The rental costs over a long-term project will add up and could end up costing more than the price of the equipment when you buy it. Additionally, if you are looking at multi-purpose equipment such as forklifts and excavators, buying would be the best option as they can be used in a variety of different projects.
One of the biggest advantages of buying your transport equipment is that it is available to you at any time. This means that you will be able to react quickly to changes in a project where different equipment will need to be used. You will also be able to take on jobs at short notice which is something that you could find tricky with rented equipment.
When you rent transport equipment, you run the risk of the rental company not having the equipment that you need when you need it. To overcome this, you will have to work with a number of different rental companies which could increase your overall costs. You will also have increased costs when looking at short notice rentals for the times when you need to take a job quickly or deal with changes to a job.
Building a business is not for the faint-hearted and it requires a lot from you as a person. Many people have started a business and failed a few months or years later. The ones who got up and tried again are the ones who got to the top. Success is not overnight and it will not be easy. Here is a list of some things that you should do if you want to become successful in business.
1. You have to be fearless – Starting a business and leaving behind the security of a paycheck and facing the uncertainty of the unknown is scary. However, a successful business owner or entrepreneur knows how to manage and deal with their fears. They do not allow those fears to get the better of them. They are also not afraid of failing and starting again until they are successful.
2. You need to understand finance – To grow a business and be successful requires knowledge of how finance works and how it can help you grow your money. Not all businesses need to start with a big sum of money, but they all need to know how to use the money that is coming in to grow the business. A good knowledge and understanding of how finance works is a must.
3. You need to find the right team – Having the right partners and team is extremely important. A good businessman understands that people have different strengths and weaknesses. The art lies in knowing who to use for which area. Not everyone makes good salespeople, or good designers, or good CEOs. You need to know when to start handing over certain jobs to other people to ensure the success of the business.
4. You need the right attitude – This refers to your attitude in life, towards people, and your approach to your business. If you want to start a business to become rich and buy more things, your attitude is off track. If you want to start a business to make money and help others, that is more on track. You need be positive, energetic, driven, and always professional.
If you have these 4 things, you are off to a great start and your chances for success are good.
We are constantly hearing about Ricard Branson, Bill Gates, Donald Trump, etc. who are great entrepreneurs and made millions. Today, I would like to shed some light on our local entrepreneurs who also made great things happen for themselves.
Kerry Packer – Publishing and Broadcasting Limited and Australian Consolidated Press
Kerry Packer was a media mogul and a very wealthy entrepreneur. He was the major shareholder in Publishing and Broadcasting Limited and Australian Consolidated Press. He died in 2005 and left an empire to the value of 4.2 billion dollars. His empire owns shares in several media-related and other fields.
John Ilhan – Crazy John’s
Crazy John’s is the largest privately-owned mobile company in Australia. He was a millionaire before the age of 40 but sadly died at the age of 42. He was a philanthropist and started the Ilhan Food Allergy Foundation.
Rupert Murdoch – The News Corporation of New York
Rupert Murdoch is a name well-known to may. He is a successful businessman and media mogul that is worth billions. He is estimated to be the richest man in the world. He owns several newspapers and telecommunications and media companies.
John Singleton – Various
John Singleton may be the most famous Australian entrepreneur and definitely has an interesting personal life. He started with advertising agencies and from there went into radio and publishing. He has ties to Lonely Planet publications, Qantas Airlines, and Macquarie Media.
Dick Smith – Dick Smith Electronics
Dick Smith started young and at the age of 17, he started Dick Smith Electronics. He has entertained people for a long time with all his antics and unconventional tendencies. He was a philanthropist and loved Australia dearly. One of his greatest achievements was the ‘Australian Geographic’ magazine.
These guys are some of the best businessmen in the world. Their achievements not only made them rich but also did a great deal for Australia and its people.
Depending on exactly what your business is, cork flooring is an excellent option. Cork is a sustainable, biodegradable, and very durable material. If you are building offices, a restaurant, or an art studio for your business or if you are a construction worker that builds these places, you should seriously consider installing cork flooring. Here is why:
It is very durable – If a cork floor is looked after properly, it can last up to 40 years. Liquids won’t seep through. It won’t crack or get scratches. It returns to its original shape when heavy furniture is removed. It’s just excellent.
It is versatile – No matter what size, colour, or style you have in mind, you will find it in cork. You can buy tiles or planks and create the floor that you want.
It is safe – Cork is fire-resistant and doesn’t allow mould or bacteria to grow. It is an anti-microbial material that is also resistant to insect infestations and even termites. Right there, you are saving on so many future costs.
It creates a comfy atmosphere – Cork is very comfortable because it has a natural give when you walk on it. It is also a good insulator that helps to reduce noise and create a calm atmosphere. It is a natural material so it naturally creates a warm feel.
It is green – Apart from its insulation qualities that will save energy costs, it is also environmentally friendly in how it is made. No trees are cut down or damaged with the harvesting of cork. The cork comes from the bark of the cork tree and once removed, this bark grows back. It takes years for this process to take place, but the trees remain intact.
Cork floors can be a bit more expensive than normal concrete, but its benefits are so much better. If you want to save money in the long run and have a comfortable floor, cork is the way to go.