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How Third-party Logistics Companies Can Gain Profit by Renting Equipment

In the world of business, preparation is key. Given the fickle nature of business in general, it can be difficult to know exactly when your goods or services will be requested. Therefore, in order to prevent the potential of missing orders and losing profit, you must essentially be ready at all times.

In the case of a third-party logistics company, preparation goes from recommended to mandatory. Given that third-party logistics companies are tasked with managing other companies’ resources as well as creating, storing and shipping products, continuously having the proper equipment on hand can make or break not only your business but your customers businesses. That said, the following is a closer look at reasons third-party logistics companies should consider forklift rentals if they want to increase their profit.

Save Money

It should be every business’s goal to save money whenever possible. By renting your forklifts, you achieve just that. Although they are certainly well worth their price, forklifts can be rather costly. Especially if your company does not need to use forklifts regularly, renting a forklift is an excellent method of driving down costs without forfeiting necessary resources needed to run your business successfully.

Access Cutting-edge Equipment

When it comes to machinery, newer is typically better. For this reason, there will always be a newer model in development the moment you purchase the old one. However, by choosing to rent your forklifts from equipment rental companies, you will have consistent access to the newest, most innovative models of the lift equipment of your choosing.

Save Time

If you need a new or extra forklift, shopping around can be time-consuming and costly. Especially if you are in the middle of an important order, searching for, choosing and purchasing a new forklift can take more time than you have. However, by simply contacting a material handling distributor that specializes in renting forklifts, you can save plenty of time and energy and will be free to continue conducting business as usual.

High or Low Volume Business

Renting forklifts is the best option for third-party logistics companies that are doing either high volumes or low volumes of business. In the case of higher volumes, purchasing a forklift is a good option, as that level of wear and tear can lead to costly repairs. On the flip side, for those who hardly have a use for a forklift, you can simply rent it as needed rather than wasting unnecessary funds.

Customer Service and Support

One of the main benefits of renting rather than purchasing your forklifts is the level of support and customer service you gain access to. If you choose to purchase a forklift, you will be responsible for the operation, repair and maintenance of this piece of equipment. However, by renting your forklift, you will have the added support of customer service representatives who can help troubleshoot, spearhead repairs and much more.
Overall, for third-party logistics companies, renting forklifts may be the best option. Although purchasing a forklift can be a worthwhile investment, renting is the most cost effective option if you don’t use this piece of equipment every day. Rather than taking the risk of investing in your own forklift, renting one gives you immediate access to the resources you need to conduct day-to-day operations.