This year, the equipment leasing industry has shown tremendous trends in growth opportunities all over the globe. Companies like Strongbox quickly took advantage of the trend and expanded alongside the growing demands. This industry exists
This year, the equipment leasing industry has shown tremendous trends in growth opportunities all over the globe. Companies like Strongbox quickly took advantage of the trend and expanded alongside the growing demands. This industry exists in between the rental market, engineering and construction industries and is now a preferred financing option for most companies in the engineering, construction and heavy equipment industries.
Easy Access to Capital
One of the reasons why companies venture into the leasing industry is because it provides easy access to capital. How is that so? Leasing does not require large capital investments, down payments and high financing costs. Apart from the high cost of financing, some causes of the increasing demand for industrial equipment rental and leasing business are the uncertainty of business circumstances like market movements, economic pressure, technology up-gradation, costly maintenance and breakdowns, high insurance costs and unstable infrastructure growth.
Increased business activities of customers
The industry’s demand is driven by the business activities of its customers. Since engineering and construction industries are booming recently, it follows that demand for different kinds of equipment such as attachment, carry deck crane, compaction equipment, construction vehicle, earth moving equipment, excavators, loaders, lift equipment, and others are also growing. Considering this domino effect, as long as the clients to which this industry serves is growing, the industrial equipment rental and leasing business won’t have a hard time acquiring market demands.
Choosing the right Leasing Equipment Company
Recently, Strongbox announces double-digit growth. This proves high customer satisfaction, market demand expansion, and good business. Such growth is due to massive projects on airport expansion and governmental construction projects. Demand for its services has also increased because of the simplicity of its leasing requirements, innovation, and expertise.
The company has been in business for years and it has become a premier heavy machinery and construction equipment provider to different companies ranging from private enterprises to government organizations. These companies choose to lease equipment than purchasing because of the high overhead which the latter brings. Besides, leasing a piece of equipment is more versatile on the demands depending on the kind of projects that you have, ranging from micro to macro projects. Renting or leasing also provides more efficient ways of equipment handling.
Today, more financing choices are available in buying or leasing equipment for business operations. Factors you need to consider are monthly cash flows, maintenance costs, financing costs, depreciation, technological advancement, and others