Now more than ever, with the topic of climate change being discussed at every level of business, companies are looking for effective recycling equipment solutions. Recycling equipment is in high demand as businesses think more about their carbon footprint and reducing their waste output. Recycling is the future, and it pays to plan for the future.
If you’re considering the benefits of recycling equipment for your business, then you might be wondering whether owning or renting waste management recycling machines is best. Here, we’ll talk you through both options, so you can decide what is best for you.
Owning Recycling Equipment
The owning vs buying argument really depends on how much waste your business produces. If your business is recycling large quantities of materials, then owning will probably be a more attractive option. Owning can represent the best return on investment, especially if you are looking at used recycling equipment options.
Owning can also be more straightforward than renting. Renting can prove to be quite tricky when it comes to dealing with contracts and legal agreements. If something were to happen to the machinery whilst you’re renting, such as, if it got damaged or it breaks down, then it could end up costing you even more money than you anticipated. Buying your equipment removes these potential problems.
Owning gives you the freedom to buy exactly what you need for the job that needs doing. So, if you want to take control of your recycling equipment and associated costs of maintenance and parts owning is the only option. Plus, ownership also means you have a valuable asset you can sell when and if you want to.
Renting Recycling Equipment
Renting recycling equipment can be a savvy choice for the right business. If you only need recycling equipment for irregular or one-off jobs every now and then, renting would make sense. The upfront cost of buying large waste management recycling machines can be high, so leasing can help spread the cost over a period of time to be more manageable for the balance sheet.
However, you will most likely end up paying more for renting the machinery over a longer period than you would if you owned it. The main benefit of renting is if you know that your business won’t need the recycling equipment regularly. It wouldn’t be worth investing in the equipment if it’s getting minimum use.
Which Is Best For Your Business?
The decision to own or rent recycling equipment will depend on your business’ unique recycling requirements. If your operations are large enough and you’re recycling waste regularly, then buying would seem like the best option. You know that your return on investment will be worth the initial financial outlay. If your business is not producing regular, high volumes of waste, then renting might be a better short-term solution. You can easily reassess your need for waste recycling equipment if your business needs change.
Here at WRT, we are experts in waste management recycling machines and have a range of recycling equipment for sale. For more information on our recycling equipment and to discuss your requirements, contact us today.