Welding Equipment — Rent or Buy?
One of the biggest dilemmas any welding shop faces is whether to rent or buy their equipment. Renting has benefits for many but buying can be cheaper in the long run. But how do you know whether you should rent your equipment or just buy it?
There are three main points that you need to consider when you are deciding whether or not you should buy equipment or simply rent it. The first is how often do you actually need the equipment? If you don't use a piece of equipment at least 60 percent of the time, then it might be better to rent it. After all, why buy something if you are not going to use it often? Yet if the equipment is a vital piece, such as a gas engine drive, it might be best to purchase it so that you do not end up needing it at a vital moment and disrupting your work schedule. Even if you do not use it that often, you will save more in the long run buying it and never facing that problem than renting it just when you need it.
The second thing that you need to consider is just how many welders do you actually need? If you are working on building a power plant or a processing plant, you may need as many as 300 arc welders. In a case like this, it would probably be best to rent because the need is only temporary and you would have to spend a small fortune to buy the machines. Inverters can greatly help cut costs when there is a high volume of welders needed, as more than one worker can use the same engine drive. Then you can simply rent inverters and lower your costs even more. However, if your work requires their use often then it would probably be better to buy them.
Consider technology as well. If you need something like an engine drive, that has a carbon arc only occasionally, then renting makes perfect sense. If you need it often, then it should be bought. Both welding suppliers and renters keep up with the latest technological trends and provide the newest equipment. Your welding shop may also need access to this newer tech because newer welders are being taught the latest technologies while in school. Renting will allow older welders to gain experience with new equipment and allow everyone to get familiar with it before it is bought. Renting also allows you to compare equipment and see what suits your shop best before you buy.