When businesses shop for heavy equipment like forklifts, they often wonder how they’ll choose the right forklift for their operations. There are several essential factors that you want to consider and analyse before you make your final choice, and we’ll outline them below.
Consider your working environment. Do you work primarily indoors or outdoors? How big is the space? Will you have to manoeuvre your forklift into containers and will any mezzanines get in your way? Consider the ground. Will you drive on concrete, dirt, or grass and will you manoeuvre around potholes? What’s your maximum height and the weight you’ll need your forklift to carry?
These questions will give you a rough size estimate and model for your forklift, and any additional features you may want. For example, the tyres you end up with will depend on the ground you plan to drive your forklift over.
Once you have all of your environmental factors figured out, move to the expenses. Would you run electric, diesel or petrol? For indoor work, electric is best because it doesn’t have the fumes diesel and petrol systems can release. If you need a more heavy-duty machine, diesel and petrol work well.
Do you need special attachments? Certain types of forklifts work better with specific accessories. These specifications will add to your total costs. Is it financially prudent for your business to purchase your equipment, or will it set you too far in the red? What about maintenance? If you hire or lease, the maintenance usually isn’t your responsibility, and this saves you money.
Rental, Leasing or Buying
Does it make more sense to rent, lease or buy your forklift? Some larger companies prefer to buy their equipment outright, but this results in depreciation pressure you won’t have when you lease or rent. But these companies know they’ll have the machinery they need on-hand and ready to go at a moment’s notice.
Hiring a forklift is also tax-deductible, and this can boost a business’s revenue. Additionally, leasing or renting frees up cash. You can then invest this cash into other areas of your business while still having the equipment you need when you need it.