One of the questions that many small business owners face is whether they should rent or buy the equipment that they need to do their jobs. It’s a tough question to answer. In fact, figuring out the answer requires that you ask yourself some additional questions.

Questions to ask yourself to figure out whether to rent or buy include:

• How often do I use this equipment? If you’re a contractor who rents portable screening equipment on a regular basis then you may find that it’s more cost-effective to buy dirt screening plants than to keep renting the equipment on a steady basis. If you do work that only requires you to rent a screener once or twice a year then you shouldn’t bother buying it.
• How long will the equipment last if I buy it? If you’re someone who needs to use equipment that must regularly be serviced then you’ll have to consider the cost of service and repairs. If the cost is high then it may be smarter to rent the equipment from a company that does the servicing itself.
• How sure am I that I’ll stay in business for awhile? If you’re going to be in business for a long time then it’s worth it to invest in buying your own equipment. If you aren’t too sure then rent for awhile until you know for certain that you’ll be sticking around.