Businesses are all about finding the perfect balance. Whether you are running a small business or a large enterprise, you need to make sure you are striking the right balance in every aspect of the company. Pricing shouldn’t be so high you put customers off, but not so low your business isn’t sustainable. The number of employees you hire should be enough so your company can operate smoothly, but not so many that your payroll is too high. Recycling equipment is just another one of these tricky business decisions which requires the right balance.
Once you have identified that your business is generating enough waste to warrant recycling machinery on premises, and you understand the commercial benefits of recycling, you are ready to decide the best way to incorporate recycling equipment into your strategy. The main solutions include buying, renting, or leasing recycling equipment, and in this guide, we are sharing everything you need to know to make the right decision for your brand.
Renting Recycling Equipment
A lot of businesses choose to keep costs low or spread the expense of recycling machinery by renting. The biggest and most obvious disadvantage of this option is that the recycling equipment is never going to be yours, and if you choose to upgrade, there won’t be a return on investment as you can’t then sell on used recycling machines. Depending on the type of business you are operating, this lack of control can actually be a positive. Owning recycling machinery comes with the responsibility of maintaining the equipment, which can be a hassle for small teams.
Leasing Recycling Machines
For a middle ground between buying and renting a recycling machine, you can look into leasing options. There are limited companies offering leasing on recycling equipment, so your choices might be restricted. Leasing gives you the benefits of buying machines, without the large initial investment. You can lease a machine for a set period of time, making monthly payments, and then once the lease payments are done you will own the equipment. This can often be a more expensive choice that purchasing outright, as you will likely pay more in the long run.
Buying Recycling Equipment
Choosing to purchase your recycling equipment will mean you have total control over it. You can determine when and how it is serviced, and how it is used by your teams. For some businesses, there can be tax benefits to owning recycling equipment instead of renting, and you will always have the option of selling machines if things change in future. The biggest challenge with buying recycling machinery is the initial investment, which can be extremely expensive if you are buying new equipment.
Another great solution to get all the benefits of owning equipment but with a lower upfront cost is to buy used recycling machinery. At WRT, we are specialists in used recycling equipment and all of our machines are properly serviced and checked to ensure they are ready to use and have no existing issues prior to sale. Buying used recycling machines is a great option for owning the right equipment without paying for a brand new model.
For more information, contact us today.