Today’s forklift market is tight. New equipment comes with extended lead times and you might consider used equipment a gamble. However, renting a forklift could offer an easy solution to both current market conditions and your operational needs. But this might beg the question: is renting a forklift right for my business?
There are a handful of reasons why renting a forklift could be right for your business. The most impactful might be the flexibility that comes with it. You can add and remove forklifts to your fleet easily when you opt for a rental.
Let’s say your company sees rapid growth in material handling needs around the holidays or during harvest season. Renting a forklift to grow your fleet as needed might make sense for you. It will save the capital you’d spend on your own equipment and you can return the rental when you’re finished with the busy season.
There are other benefits and reasons why renting a forklift is right for your business. Learn more about forklift rentals from a strategic partner like Naumann/Hobbs.
Why Are Businesses Renting Forklifts?
Interest in forklift rentals is on the rise. According to information from Research and Markets, the equipment rental market is estimated to grow by $64.71 billion by 2025. Demand for and interest in rentals might be trending up for three major reasons.
Increased Employment in Material Handling Occupations
One factor linked to growth in equipment rental demand includes rising employment in material handling and manufacturing positions. Data from the Bureau of Labor Statistics suggests that employment in material handling occupations is projected to grow by 7% between 2020 and 2030.
More workers on the warehouse or manufacturing floor mean that more equipment is needed to keep things moving.
Increased Lead Times for New Equipment
Another factor leading to an increase in demand for equipment rentals is that it’s become difficult to get new equipment. Pre-pandemic, lead times for new forklift equipment might have been 20 to 30 weeks. Today, however, it might take 20 to 30 months to get the same equipment. Many forklift manufacturers now have long waiting lists and some have even stopped taking orders.
Increased Need for Scalable Solutions
Many of today’s businesses see fluctuations in the volume of materials being handled. For example, manufacturers might start moving goods into distribution centers in September to prepare for the December holiday rush. Food-grade warehouses might start seeing an increase in produce being handled as the picking season progresses from spring to fall. Forklift rentals allow these businesses to increase their fleet as needed to handle seasonal shifts.
With these factors in mind, it’s easy to see why you might consider renting a forklift. Opting to rent a forklift can help you keep up with material handling needs and provide equipment for your growing business. Additionally, choosing a forklift rental can also keep you moving as you wait for new equipment to become available.
What are the Benefits of Renting a Forklift?
Renting a forklift comes with a lot of benefits for your business. The biggest advantage to opting to rent a forklift is that it allows you to scale your fleet as needed. You can get extra equipment to keep the influx of materials moving during the holiday rush or harvest season, and you can simply return the equipment when no longer needed. This flexibility can be invaluable for businesses.
In addition to meeting temporary or seasonal demand, other benefits of renting a forklift might include:
- Rental costs are temporary. This allows flexibility in budgeting.
- A rental can allow you to replace trucks in your fleet that might be out for repair or service.
- You can test new products of forklift brands or models to see if the machinery meets your needs. For example, you might consider trying a Princeton Forklift when you need rough terrain equipment.
- Should you need to replace equipment, a rental can keep you moving until budget or lead times allow a replacement.
Where Can I Rent a Forklift?
You can easily rent a forklift from Naumann/Hobbs. We can help you scale your fleet as required and provide you with the equipment you need to keep moving. Our knowledgeable staff can connect you with the best rental forklift to fit your unique business needs.
What Should I Think About When Renting a Forklift?
Naumann/Hobbs is ready to work with you to make sure you get the most from your rental. We want to connect you with a forklift rental that meets your exact needs. We’ll consider things like the weights and size of loads, surface conditions, lift heights, and other operating factors that might apply to your business.
Other things to think about when renting a forklift include:
- How long you’ll need the forklift rental.
- Battery charging requirements.
- If any overtime charges are applicable should you use the equipment for more than a typical 40-hour workweek.
- What kind of insurance, if any, is needed.
Learn More About Forklift Rentals from Naumann/Hobbs
Is renting a forklift right for my business? It could be if you’re looking for a flexible solution to customize your forklift fleet.
Let Naumann/Hobbs’ skilled staff go to work for you. We’ll help match the right forklift to your business needs so you can keep materials moving. Contact us by reaching out online now.
