Buying A Crane – The Pros & Cons

Like any other sizeable investment, buying a crane should not be taken lightly. Whether or not buying a crane is a good purchasing decision depends on the needs of your business. If you’re thinking about buying a crane take the following factors into consideration:

How Often Will It Be Used?

If your business has frequent and consistent use for a crane, than buying could be a good option. However, if there are often long periods of time between jobs that require lifting work it may be more cost effective to hire a crane instead. This is because, unlike when you hire a crane, when you buy a crane you will still be paying to store and maintain it during quiet periods where it may not get much, if any use.

Do You Have The Means To Transport The Crane?

An often overlooked consideration of purchasing a crane is transport. When you hire a crane, the crane hire company will more than likely drop it off at the site when you need it and pick it up when the work is done. But, if you own the crane, you will have to provide a way to transport the crane between jobs. This can add significant cost if the crane is not able to drive on public roads.

Storage Costs

Another factor to consider when buying a crane is storage. A crane is a large piece of equipment that can be costly to store which is another factor that should be taken into account when weighing up the pros and cons of buying a crane.

Not only will you need a large storage space where the crane can be stored, it will also need to be secure to protect the crane from theft which can add to the cost. Conversely, when you hire a crane, the crane hire company will be responsible for housing it between each project you hire it for.

Maintenance Costs

Like any other piece of machinery, cranes require regular maintenance in order to keep them operating safely and efficiently. This is another cost you will need to factor into your budget when considering purchasing a crane that is otherwise taken care of by the crane hire company. Before you buy a crane look into the ongoing maintenance costs to ensure that it is a viable business decision for you as crane maintenance requires a specific set of skills which can make it quite expensive. Additionally, keep in mind that any repairs the crane requires will also be your responsibility to fix.

Job Flexibility

Finally, consider the flexibility crane hire offers that you will be giving up to purchase a crane. If your business only ever has jobs that require the same type and size of crane, this is a no brainer. However, if you often work in different jobs with varying requirements, hiring a crane will offer you the flexibility of choosing the right crane for the job every time. Alternatively you may have to pass up jobs that don’t fit the abilities of your purchased crane.

 

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There are plenty of pros and cons to buying vs. renting a crane. The right decision for your business depends on the specific needs of your jobs. If you think crane hire is the way to go for you, give Mighty Cranes a call on 0477 000 976 – we’re your local Brisbane crane hire company. Quality mobile crane hire at competitive prices!

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