What use is your heavy equipment for you if you are not able to utilize it due to non availability of work in hand? It is bitter to see them rot in the sun and rain and make no use of it. Heavy equipment are rather highly expensive and one cannot afford to see them do nothing. Well business is a mixture of ups and downs. The construction equipment was working in full swing when you had projects in hand. This was indeed the time when your business was picking up and getting projects were no longer a difficult job. However, when there is a declining trend in the business, you got to give some rest to your machines and at times the resting period simply does not wants to end.
It is then that you might want to take some very serious decisions. You can either think of selling them but that does not make much sense to you if the overall construction market goes sluggish. You may probably not find many buyers to take the deal. Other than that, if at all you get some buyers, they would like to buy the machine at their desired price. This means that you may have to sell it at a price way below the one you actually wanted to. In addition to this, when the market takes its turn and the real estate sector gets back in form, you’ll get projects but will find short of equipment.
In order to counter such a situation, it is prudent to let out your machine to a small time contactor who will pay you monthly rent for the equipment and once the tenure expires, you can expect to get the stuff back in the same condition that you’ve given him. Necessary paper work also needs to be undertaken before you let out the equipment to the party.
How to find a party
Finding a taker is no difficult deal as long you know the right ways to advertise your product. You can take help of newspaper classifieds or put them on internet or can even ask the people from your profession if they know someone who is interested to buy used equipment.
In order to advertise it in a newspaper, you need to get your facts right. Check which newspaper has a wider circulation in your city so that your advertisement reaches out to maximum people. You can even advertise in magazines which are exclusively meant to provide information on heavy equipment. People will know about you through such mediums and you will definitely get through with it.
You can also take help of posting an ad in a website which is into buying/renting and selling or heavy equipment. There you can have a larger scope to reach out to people looking for stuff you want to let out. All you have to do is give a brief description of your product and your contact details. Let the one interested call you up and you can ask them to have a visit and check the equipment all by themselves.
In this way you can still ensure an inflow of funds even if the entire construction business is on a downhill.