Deciding Whether to Buy, Lease or Rent a Forklift

There's no getting around the fact that material handling and distribution center warehouse equipment is expensive. When an owner invests money into material handling equipment, they expect to see a good return on investment (ROI) in the form of increased productivity and efficiency that boosts the bottom line and helps pay for that equipment. With a wide variety of material handling and DC warehouse equipment available, there seems to be something for every application. Of course, the more bells and whistles, the more money! So, how do you decide if buying, renting or leasing material handling equipment - such as a forklift - is right for you? Let's break down some of the important factors to take into consideration beforehand.  

Capital investments - the purchase of items that boost productivity and cost more than $5,000 - are part of every company's solid financial budget. Capital investments, such as material handling equipment like forklifts, are expected to show a positive ROI, or return on investment, almost immediately - or at least by the following year.

Companies that are planning on growing - or are already showing positive growth - need to be able to make decisions about capital investments and how the ROI is going to affect the bottom line. Do you anticipate your company growing faster with the addition of a forklift? Adding capital investments in the form of equipment such as a forklift can not only boost your productivity, it can help you increase your workforce and expand your business into new markets.

Let's take a look at some of the signs that buying a forklift would be the right choice for your company.