With inflation on a steady rise, interest rates increasing, South Africa being grey-listed and the banking crisis in America, many local businesses may be worried about the economic future of Africa. Understandably, everyone is trying to grasp how to conserve cash reserves while still getting back into the swing of operations after the end of lockdowns and shutdowns caused by COVID-19. In short, we are economically in a vulnerable position, and no-one is entirely sure which way the pendulum may swing.
Did you know it could take your business up to seven years to see a return on investment from buying operational assets? This will cost a lot of upfront revenue that may be currently precious to the company. Meanwhile, you may find that the constant shift in developing and upgrading technology pushes you to sell your asset before you even see any return on your investment.
Avoid the burden of buying assets
Although it is a popular belief that buying is more beneficial long term, it comes with multiple hidden costs that may not be attractive to your company in the short term or even the long term. If you are not using your asset more than 70% of the time within the company, it simply pans out at a loss.
When buying and owning assets, you are responsible for upfront cash payments, limiting the amount of assets you can sustainably own while supporting the business. Once you have acquired these assets, you will also be responsible for maintaining the assets’ upkeep, insurance updates and upgrades. All in all, the upfront cash payment may become the least of your worries.
By simplifying your business’s asset acquisition process through rental solutions, you can focus your full attention on making a profit while still sustainably supporting your business’s operations.
Stretch your budget the smart way
Asset rental companies, like RentWorks, work alongside you to fit assets into your company through flexible payment options that meets your business’s needs.
Renting assets allow you to stretch your budget up to 300% on a 36-month contract, giving you the financial flexibility to confidently grow in an uncertain time. Hidden costs and unwanted worries simply are issues of the past in the renting process with RentWorks. This is because, as rental specialists, they step in to ease maintenance costs and insurance costs, making sure the technology is constantly up to date with the industry standard.
Control the asset lifecycle
Working alongside RentWorks ensures you a trustworthy partner who manages the entire asset lifecycle, from acquisition to return.
Acquire: When acquiring your asset, you can tailor-make the financing of the asset and payment period to fit your business’s needs. This frees up your cash reserves and in turn yields higher investments, giving your business a competitive edge.
Manage: Additionally, you still have complete control over the assets you rent through the REAM portal. Here you can keep an eye on assets, contracts, serial numbers and rental periods, helping you keep track of your assets and ensure that they constantly receive the maintenance and upgrades necessary for successful operation.
Return: When the time comes to eventually return the assets, RentWorks will sit with you to develop a flexible and sustainable end-of-term agreement, ensuring that the entire process makes sense to you and benefits your company.
A partnership that works for your business
Rental solutions empower your business and inspire sustainable growth by conserving cash flow while utilising the asset to its full advantage. Not only do you ease the flow of revenue through your business, but within a short time period, you will undoubtedly see a return on investment.
Partnering with the right rental solutions company will give your business the best footing to generate growth and profit while keeping industry-standard assets at a quarter of the price.
At a time when economic uncertainty seems to be ripe, position your business to succeed despite the odds placed against it by partnering with the right rental solutions company.