Hire versus Buy – which option is right for your business?
Weighing the pros and cons of renting versus purchasing an asset such as PAPR equipment is a balancing act which needs some careful consideration. Our Experts take a look at the benefits of both, and how you can decide what will work best for your business.
Why Should you Hire?
Cost:
This is the first reason for hire of PPE equipment as there are a number of different reasons that it might be more cost effective to hire. An obvious reason is when planning for a shorter project – cost per use is significantly lower if you are only using the equipment for a limited amount of time. This will include savings in the following areas:
- Less time spent on research and negotiation
- No upfront long term capital investment
- No maintenance or replacement cost
- No storage cost
Administration:
Let’s call this ‘No Hassle’! With most high tech equipment there is maintenance to keep on top of, compliance regulations to be aware of, replacement parts, servicing, inventory control…. When you hire your equipment from a recognised hire partner, you can be confident that all of this is taken care of, giving you complete peace of mind.
Technology:
No worries about long term obsolescence when you hire – if equipment goes out of date it will have been replaced and you will always be able to hire the latest versions of the technology you need.
Flexibility:
If a product doesn’t work for you, then there is no problem – send it back and try a different one! No need for endless research before making a major capital investment, let real experience tell you if a respiratory solution is going to work for your hazards, your workforce and your business.
Sustainability:
Hiring is the most sustainable option. If this is important to your business then you can be confident in a lower carbon footprint; you will effectively be sharing your equipment with other users and lowering the CO2e generated by your business.
Why Should you Buy?
Cost:
If you will be using your equipment for a long period of time then it will be more cost effective for you to invest in your own inventory. Bear in mind you will need to factor in maintenance, storage and replacement costs.
Administration:
If you do not want to concede responsibility for compliance records then it may be a more secure option for your business to have complete control of these – but hiring will still allow you to keep accurate records for compliance purposes.
Technology:
You may require a tailor-made solution which is not available to hire. Compromise in safety is never a good idea and if your needs are in any kind of niche, it may make more sense to stick to more bespoke equipment. If you think this is the case then it’s worth discussing with experts who may be able to find the right route for you – it’s still possible that hire could be a valid pathway for you. Anchor Safety Services independent specialists are always on hand to help you with this decision.
Flexibility:
If you own your equipment then it is always on site when you need it, with no planning required in making sure it is available. However, Anchor Safety Services can often turn around your hire request in 24 hours – contact our experts if you are concerned about the timing of hiring equipment.
Sustainability:
If your need for a product is ongoing then it may make more sense to invest for the long term rather than repeatedly hiring. Hire equipment has to be replaced regularly and having your own means that it will have less use and therefore may last for longer with regular maintenance and the care you can ensure for your own equipment.
Essentially there are reasons both on favour of hire or of capital investment in PPE and RPE equipment. If you are unsure which solution is right for you, contact the experts at Anchor Safety Services today - they will be able to help you in making the best decision for your business.