Recently updated on October 25th, 2022 at 11:33 am
The forestry industry is a lucrative one if you can tap into it properly. In fact, its current net worth is just under $537 billion globally.
If you’re new to the forestry industry, you’re probably wondering which equipment you’re going to need to invest in.
Mulching equipment is a crucial part not just of forestry work but also landscaping and more. The question is, how do you know if it’s better to rent or buy? What’s the difference between renting and leasing?
Read on for our quick and easy guide to investing in mulching equipment so you can decide whether renting or buying is the best call.
When to Rent Mulching Equipment
Renting entails that you’re paying less in order to use it for a smaller amount of time. If you’re working on a short-term project and know the exact parameters of the work, renting can be a better choice. Renting mulching equipment is the best choice for individuals who don’t work in the forestry industry but have a small piece of land that needs to be cleared out.
The Difference Between Renting and Leasing Mulching Equipment
We tend to use the words “renting” and “leasing” interchangeably, but when it comes to mulching equipment, it’s important to know the difference. Renting can grant you access to this equipment for a few days, weeks, or months. Leasing tends to get you a temporary contract to use the equipment for at least one year.
When you break down the price per week or month, leasing should cost less than renting. However, if you don’t need that equipment for more than a few weeks, you don’t need to spend the money to lease long-term.
When to Buy Mulching Equipment
How do you know if it’s time to take the plunge and buy your own mulching equipment? The simple answer is that if you know you’ll need that equipment several times over the course of two or more years, buying is the way to go. It’s also worth noting that offering mulching services is incredibly lucrative, and if you don’t have the equipment to do so, you’re missing out on some major revenue.
If buying mulching equipment makes the most sense for you, take a look at the products offered by FECON. FECON gives you the option to purchase mulching tractors or mulching attachments that can be fitted to any tractors you already own. Their products are some of the best in the business and are known for durability and quality.
Invest In Your Forestry Business Wisely
Forestry is a huge and lucrative industry. If you’re thinking of getting into forestry, it’s important that you invest in your business wisely. If mulching is a service you want to offer in the long-term, buying your own is the most financially logical choice.
Looking for more business advice? Take a look at our business section and find tips, guides, and news that will help you make the best decisions for your business.