When it comes to dredging projects, it can often be difficult to determine whether to buy or rent equipment. Dredging projects can become expensive and require significant resources, so take the time necessary to weigh your options when deciding whether to buy a dredge or rent one. Considering the benefits of both buying and renting dredges can help determine if you should buy a dredge or use a contractor. You’ll also want to analyze the project, frequency and resources available. Make sure you factor in your specific project requirements to ensure the most cost-effective and quality solution for all your dredging needs.
Benefits of Buying a Dredge
There are many benefits to having your own dredge. The top three advantages of buying a dredge include the following:
Cost-Effective for Frequent Dredging
Buying a dredge is a significant upfront investment, but if you will use the dredge frequently, buying it will be more cost-effective in the long term. If you are dredging smaller areas, you can also consider purchasing a smaller dredge like the Dino6 for a much lower price than a larger dredge.
It is also more cost-effective when it comes to training and certifying dredge operators. When renting, it may not make sense to keep a dredge operator on payroll year-round. Hiring, onboarding and training dredge operators can be expensive. However, if you own a dredge, it may make sense to hire a new full-time dredge operator, cross-train an existing employee or partner with a dredging contractor. Having a go-to operator allows you to save time and money searching for a dredge operator every time you have a new project.
Constant Access to Dredge Equipment
When buying a dredge, you never have to worry about whether the equipment is available when you need it. You will have constant access to the equipment, enabling you to complete dredging projects on your schedule. Owning a dredge is helpful for planning and scheduling your project timelines to ensure that you have access to the dredge when you need it. You won’t have to worry about contracts that only allow you to use the dredge for a specified amount of time. You can have ease of mind that no matter what project and timeline you have, the equipment you need is ready.
Income From Leasing out Your Owned Dredge
If you buy a dredge but know there are times when you won’t need it, you can lease out your equipment. Be sure to follow all proper maintenance and upkeep of the equipment so you lease out quality and safe equipment. It is also essential to consider the legal aspects, such as safety waivers and contracts regarding the integrity of the dredge equipment, but leasing out your owned equipment may help reduce the cost burden of buying a dredge.
Benefits of Renting a Dredge
There are also benefits to renting a dredge. If you’re wondering if you should rent a dredge, consider these advantages:
No Maintenance Costs
When renting a dredge, the burden of maintaining and replacing parts does not fall on you. If you do not want to invest a lot of money in maintaining a dredge, renting is the way to go. You will not have to worry about preventive maintenance or pay to replace parts as they age. When renting, you will receive a ready-to-use machine without the worry of large investments for broken or damaged parts.
No Storage Costs
Like with any large piece of equipment, you have to find adequate storage to keep a purchased dredge protected and enable it to last for a long time. When renting a dredge, there is no worry about the additional investment needed to store the dredge until the next use. In this way, renting helps keep costs lower while still providing you with the necessary equipment to get the job done.
Can Tailor the Dredge to the Project
Depending on your industry, business or dredging project, you may have a variety of areas that need dredging. It is crucial to select the right type of dredge for each project. It can be beneficial to rent dredges if you have multiple projects that might need different types and sizes of dredges. You won’t have to worry about buying a dredge that is incorrect for your project, leading to potential damage, project delays or the inability to complete the project. Renting a dredge ensures that you have access to the right equipment for each project.
What to Consider When Buying or Renting a Dredge
When it’s time to buy or rent a dredge, you’ll want to consider a few factors to help you choose the right options for your use. Here are the top three things to help you decide whether to buy or rent a dredge:
Time Frame and Frequency of Dredging
One of the most important considerations when determining if you should buy or rent a dredge is the frequency of the dredging projects. A general rule of thumb is that if you will have dredging projects for more than half the year, you should buy a dredge. If you need a dredge for less than six months per year, it will make more sense financially for you to rent the dredge.
Accessibility to Storage
Buying a dredge may be a great option if you have the space to store it, but if storage is not a possibility for you, renting a dredge may be better. You want to make sure that you keep your dredging equipment out of sight if you are using it at golf courses, country clubs or for a homeowners association (HOA), so access to storage is paramount. You also want to protect your equipment by properly storing it where it can’t be damaged or deteriorate. You shouldn’t buy expensive equipment if you don’t have the proper storage to care for it adequately.
Resources Available for Certification and Operations
You also want to consider who will operate the equipment. If you plan to buy a dredge for frequent projects, you may want to hire a dredge operator on retainer for your projects. You want to make sure that the operator knows how to handle all dredging equipment correctly so you can complete all projects safely and efficiently. If you buy a dredge and want to train an employee rather than hiring a new operator, consider operational dredge training.
Get Your Dredge From GeoForm International
After you consider your needs and dredging projects and determine if purchasing or renting a dredge is right for you, GeoForm International Inc. can provide you with quality dredges to buy or rent made and manufactured in the USA. We also offer high-quality training and service to ensure you can complete your dredging projects safely and on time. Contact us today for a product inquiry, or call 913-782-1166 to learn more about our Dino6 and Dino8 dredges. You can also check out our dredge rental partnership with Midwest Pumping Solutions to find the right option for you!